Month: September 2020

ISLAMABAD: The Board of Directors of the Oil and Gas Development Company Limited (OGDCL) announced the financial results for the year ended 30th June, 2020. The company’s net sales revenue clocked at Rs244.856 billion, with profit after tax at Rs100.081 billion. This translated into earnings per share of Rs23.27. The Board of Directors announced final cash dividend of Rs2.50 per share i.e. 25 percent. This is in addition to interim dividends already paid at Rs4.25 per share i.e. 42.5 percent. The cash dividend will be paid to the shareholders, whose…

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The troubles faced by the China Pakistan Economic Corridor (CPEC)—the flagship of China’s Belt and Road Initiative (BRI)—are perhaps the most conclusive demonstration that the BRI model that has been in place for the last few years is no longer sustainable. Even before the coronavirus pandemic, CPEC had stalled. Not only are the figures commonly cited for the total package of projects under this framework since its launch in 2015—which run as high as $62 billion—no longer accurate, investments of that magnitude are not under consideration either. The projects that…

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Oil producers could be set for another showdown before the end of the year, with heavyweights Saudi Arabia and Russia holding different views on how to approach the halting recovery in oil demand. Renewed restrictions on travel and social gatherings across Europe, along with the tapering of state support packages for companies, are having a chilling effect on demand for crude, just as the OPEC+ group of oil producers, who cut production by a record 9.7 million barrels a day in May, begin to contemplate the next easing of limits on their output. We should…

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In April 2017, Qatar lifted what had been a 12-year moratorium on further development of its vast offshore North Field. Three years later, Qatar is steamrolling forward with the largest LNG expansion the industry has ever seen. If it so desired, Qatar could fund and construct seemingly unending expansions to its already massive, 77 million mt/year, 14-train liquefaction operation. Qatar Petroleum (QP) has effectively said as much, upping its expansion plans twice since 2017. First there was the 2017 North Field East (NFE) expansion, initially aiming to take Qatari LNG…

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