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Saudi Arabia says an oil tanker was attacked by an explosive-laden boat while it was anchored at Jeddah’s port. The overnight attack at the facility’s fuel terminal resulted in a small fire on board that was extinguished, the energy ministry told state media. The owner of a Singapore-flagged tanker, BW Rhine, earlier said that it had been “hit from an external source”, causing a blast that damaged its hull. The energy ministry did not say who it suspected was responsible. But the incident comes weeks after what Saudi authorities previously…

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ISLAMABAD – Pakistan Prime Minister Imran Khan announced Saturday that his country would have no new coal-fired power generation as part of its contribution in global efforts against climate change. Khan gave details of the substantial undertaking while addressing the international Climate Ambition Summit 2020, held virtually because of the coronavirus pandemic. The United Nations, United Kingdom, France, Chile and Italy hosted the event, bringing world leaders together to press for greater efforts in curbing global warming. “We have decided we will not have any more power based on coal,”…

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The $226-billion New York State Common Retirement Fund is undertaking a review of all energy companies it is invested in, to assess their readiness for the energy transition and dump those considered riskiest in climate-related investment. As it pledged on Wednesday to transition its portfolio of holdings to one with net-zero greenhouse gas emissions by 2040, the pension fund—the third-largest in the U.S. after CalPERS and CalSTRS of California—said that it would complete by 2025 a review of all its holdings in energy companies to assess “their future ability to…

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Pakistan’s Prime Minister, Imran Khan, announced over the weekend that as part of a number of efforts to counteract the effects of climate change, his administration will not approve new coal-fired power generation projects. “We have already scrapped two coal power projects which were supposed to produce 2,600 megawatts of energy. [We have] replaced them with hydroelectricity,” Khan said during his address at the Climate Ambition Summit 2020, which was hosted virtually by the United Nations, the United Kingdom, France, Chile and Italy. Khan also talked about ‘indigenous coal’ and said that his…

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KARACHI: The atmosphere was electrified in the headquarters of Tesla on the battery day held on September 22 as expectations were high that perhaps their charismatic CEO Elon Musk had found a secret recipe to make cheaper, reliable and safest batteries. So far, the company’s stock has surged 10 times in a span of just one year and is now trading at $600 after split with price-to-earnings ratio of 1,280. (Yes, there is no typo). However, what we learnt in the event broadcast live were lots of futuristic plans ranging…

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