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Pakistan’s total petroleum products off-take rose 17 per cent on a year-on-year basis to 1.99 million tonnes in October 2021, compared with 1.70 million tonnes sold in the same period of the last year, the official data showed. “Growth was witnessed in all the three major fuels, supported largely by recovering economic activity. The total sales grew 22 per cent on a year-on-year basis to 7.85 million tonnes during the first four months of FY22 because of increase in industrial and transportation activities,” according to a KASB Research report. Motor…

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In a shocking development, two LNG trading companies, GUNVOR and ENI, have willfully defaulted on their commitment for the current month of November, 2021 to provide Pakistan two LNG cargoes for mammoth monetary gains up to 200 percent profit in the international spot market. Under the term agreements with Pakistan LNG Limited (PLL), Italy-based ENI was to deliver the LNG cargo on November 26-27 and Singapore-GUNVOR on November 19-20. Both the companies have backed out from providing the LNG cargoes, putting the top authorities of Energy Ministry in the lurch.…

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The second and final day for world leaders at the summit in Glasgow was marked by two deals that could become key tools in the climate fight. The U.S. and European Union’s much-anticipated pledge to cut methane emissions got support from more than 90 countries, though super-polluters China and Russia held out. One hundred countries backed a U.K.-led declaration to halt and reverse deforestation by 2030. Unlike previous plans to protect forests, the one announced Tuesday one was backed by Brazil, home to Amazon jungle, and Russia, home to the…

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For years, militaries around the world saw protecting their citizens as contradictory to protecting the environment. But the presence of top defense leaders, including NATO’s secretary general, at a U.N. climate change conference on Tuesday suggested that is starting to change. The Tuesday visit from NATO Secretary General Jens Stoltenberg to the Glasgow climate talks was the first time a top alliance leader has come to the gathering since its first round in 1995. The trip came less than two weeks after the Pentagon, the White House and the U.S.…

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more than 130 renewable energy leaders, under the auspices of the International Renewable Energy Agency (IRENA) Coalition for Action, launched a call to action today, encouraging all governments at national, regional, and local levels to ensure access to high-quality, sustainable jobs during the energy transition.  Limiting the earth’s temperature rise to 1.5°C by 2050 requires a full decarbonisation of the energy sector. As such, the clean energy transition must progress rapidly. But to build a climate-resilient future, the energy transition must advance in a just and inclusive manner, leaving nobody behind. As…

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