Category: Shortcode

PM Shehbaz Sharif to Attend COP29 Summit in Baku Next Week

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif is set to visit Baku, Azerbaijan, in mid-November to participate in the COP29 summit at the invitation of Azerbaijan’s President. The summit, scheduled for November 13-15, will feature the Innovation Zone for Climate Action, a platform designed to accelerate impactful climate solutions. The Innovation Zone, a significant initiative from prior COPs, fosters collaboration across sectors and brings together entrepreneurs, investors, policymakers, and city leaders. It provides a unique registration system, allowing participants to engage independently from the official Blue and Green Zones. PM Shehbaz Sharif…

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Chinese Solar Firms Shift Production to Avoid U.S. Tariffs, Expanding in Indonesia and Laos

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solar-panel

Nov 4 (Reuters) As U.S. trade tariffs tighten on solar imports from Southeast Asia, Chinese solar companies are adapting by moving production to countries like Indonesia and Laos. Some of the largest Chinese-owned factories in Vietnam have scaled back operations, resulting in layoffs, while new production sites emerge elsewhere to bypass tariff restrictions. These shifts add up to a projected capacity sufficient to supply nearly half of the panels installed in the U.S. last year. In the last 18 months, multiple Chinese-backed solar projects totaling 22.9 gigawatts in panel or…

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Shell Reports $6 Billion Q3 Profit as LNG Gains Offset Refining Weakness

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shell-pakistan

LONDON: Shell announced third-quarter profits of $6 billion, beating analyst expectations by 12%, thanks to a strong performance from its liquefied natural gas (LNG) division, which countered weak results in refining and trading. This robust showing, combined with reduced debt and strong cash flow, is seen as bolstering CEO Wael Sawan’s focus on high-return areas like oil, gas, and biofuels to drive company growth through 2025. Despite a nearly 70% annual profit drop in Shell’s refining and chemicals sector due to declining global refining margins, the 13% increase in LNG…

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Exxon and Chevron Post Strong Q3 Profits Amid Record U.S. Oil Output and Strategic Acquisitions

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oil rises

NEW YORK: U.S. oil giants Exxon Mobil and Chevron reported impressive third-quarter earnings, boosted by record oil production levels in the United States. The companies outperformed European counterparts BP and Shell, which have invested heavily in renewable energy ventures such as wind and solar that have yet to yield similar returns. Exxon and Chevron focused on expanding oil and gas operations, driven in part by recent acquisitions of smaller producers, including Exxon’s $60 billion purchase of Pioneer Natural Resources and its acquisition of Denbury. Exxon’s production hit a record 4.6…

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Complaints Against Power Companies Skyrocket by 175% Amid NEPRA App Launch

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NEPRA-KE

ISLAMABAD – Consumer complaints against Pakistan’s power distribution companies (Discos) have surged by 175%, jumping from an average of 4,709 complaints per quarter in 2021-22 to 12,938 in the past three months, according to data from the National Electric Power Regulatory Authority (NEPRA). This sharp increase follows the recent launch of NEPRA’s “Asaan Approach” mobile application, which has facilitated complaint submissions. Between July 31 and October 31, 2024, NEPRA received the most complaints from Lahore Electric Supply Company (LESCO) with 3,588 cases, followed by Faisalabad Electric Supply Company (FESCO) with…

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