Category: News & Announcement

Adviser to Prime Minister on Climate Change Malik Amin Aslam has urged the Pakistani companies showing excellence in corporate philanthropy to join hands with the government as partners in the Prime Minister’s Clean and Green Pakistan initiative. He stated this while speaking as being the guest of honour at the 12th Annual CSR Summit and Awards-2020 organized by National Forum for Environment and Health (NFEH). On the occasion, over 60 companies were conferred awards for showing outstanding performance in the arena of Corporate Social Responsibility. The PM’s adviser said on…

Read More

KARACHI: Coal-based electricity generation jumped 94.5 percent to 2,030 GWh in the year to November 2019, taking its share in country’s energy mix to 27 percent, data issued by National Electric Power Regulatory Authority (NEPRA) showed on Tuesday. Analysts said induction of China Power Hub Generation and Engro Powergen Thar in the system was the key reason behind a massive surge in coal-based power generation. China Power Hub Generation Company (CPHGC) set up a 1,320-megawatt plant at a cost of $2 billion at Hub, Balochistan, under the China-Pakistan Economic Corridor…

Read More

The outbreak of a coronavirus in China that is now an international threat could cut oil demand by 260,000 bpd, which would translate into a price drop of almost $3 per barrel, Goldman Sachs has said.close [x]PauseUnmuteLoaded: 0%Progress: 0%Remaining Time -0:21Fullscreen Most of the demand loss will come from jet fuel as the risk of disease discourages travelers from getting on a plane, according to the investment bank, whose analysts qualified the outbreak’s effect on oil prices as modest, Bloomberg reports. Coronaviruses are common among animals but some of them can jump…

Read More

Libya’s National Oil Company has confirmed that is has lost virtually all of its oil production, at 1.2 million barrels per day of oil production, and $77 million in daily financial loss, according to the Libya Herald. NOC has confirmed that the ports of Hariga, Brega, Sidra, and Ras Lanuf ports are closed and under force majeure. The US Embassy in Libya today announced that the NOC should be allowed to immediately resume oil operations that have been offline since this weekend, after groups loyal to General Khalifa Haftar blocked all major oil ports.…

Read More

The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first for the South American country. The first batch of oil—a million barrels of Liza sweet crude oil—is currently on a Suezmax tanker Yannis P headed for the United States, Tanker Trackers said. The Liza field is co-owned by Hess Corp (NYSE: HES), China’s CNOOC, and operator ExxonMobil (NYSE: XOM)—who is the envy of all oil companies at the moment for 15 mouthwatering finds offshore Guyana. The project…

Read More