Global Oil Production Reaches Record High

A new integrated waste management facility in Hong Kong will use incineration technology to process 3,000 tons of solid waste daily. The IPOC2 facility is expected to generate 960 million kilowatt hours of electricity by processing solid waste. The new IPOC2 plant includes a specialized ash recycling facility to facilitate circular resource use, according to the director's briefing. The power generated will be output directly into the electrical grid. Hong Kong Secretary for Commerce and Economic Development Yau Ying-wah stated that the number of companies based in Hong Kong exceeded 10,000 last year. The Hong Kong special administrative region government has established a task force to assist mainland enterprises in expanding overseas. Starting April 3, 2026, the scheme will change from a flat 2 HKD per trip to a system where trips of 10 HKD or less cost 2 HKD, and trips over 10 HKD receive a 20 percent discount. The Hong Kong government confirmed that the 10-dollar two-journey transfer scheme remains applicable for eligible beneficiaries. Hong Kong officials are awaiting long-term data to review the feasibility of a major infrastructure project. This represents a 0.6% monthly increase and a 4.7% year-on-year rise. The rent index rose to 202.2 last month, marking a 0.6% monthly increase and a 4.7% annual increase. Total production reached 20.5 million barrels, marking an 8% increase year-on-year.