Shorts Make $6.5 Billion Profit on Oil, Gas and Transports

Short sellers targeting the Oil & Gas Storage & Transportation sector have made $6.58 billion in mark-to-market profits this year, said S3 Partners in a note published Tuesday. Investors betting against the sector hit “oil, black gold, Texas tea” in every stock except 6.5% that generated a relatively small loss of $2.07 million. The most profitable shorts were Energy Transfer…

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DoE Launches Campaign To Showcase Energy Sector’s Capacity And Resilience

The Abu Dhabi Department of Energy, DoE, has launched a new campaign titled “Our Commitment – Our Nation’s Power” to highlight the critical role the energy sector plays in supporting communities and in the continuity of key sectors and maintaining social and economic stability in Abu Dhabi and the UAE. The campaign underlines the importance of the electricity and water…

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MPCL invests Rs. 4 million in rehabilitation of water plants in Islamabad

Pakistan’s leading oil and gas exploration company, Mari Petroleum Company Limited (MPCL), has taken the initiative to provide clean drinking water to the residents of Islamabad. Realizing its corporate social responsibility and the issue of water scarcity, MPCL has rehabilitated three water filtration plants in the Federal capital. This operation was carried out in the water filtration plants of the areas, G-10/4,…

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Slump in oil prices unlikely to benefit countries like Pakistan

Monday’s epic collapse in WTI (West Texas International) crude oil futures to forty-minus-zero might not be just a “fleeting moment” that the biggest Pakistani English newspaper’s lead editorial made it out to be. The development may have occurred only for contracts for May delivery, that were expiring on Tuesday (one day after the crash), and only happened in the market…

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MOL Pakistan committed to continuing operation despite pandemic

PESHAWAR: With zero reported cases of Covid – 19 in its exploration and production fields of KP through strictly maintaining health, safety and environment (HSE) undertakings of the company, MOL Pakistan on Thursday said it was committed to keeping its operational continuation to meet the energy demand of the country despite testing times. The MOL Pakistan’s Country Pandemic Operative Response…

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