LAHORE: Pakistan’s first and mega High Voltage Direct Current (HVDC) project — Matiari-Lahore transmission line — has almost been completed as engineers finished the entire line stringing work besides energising the converter station near Lahore. The project, launched under the China-Pakistan Economic Corridor, has now officially entered the testing and commissioning phase that is likely to complete by December this…
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Already struggling with weak prices from oversupply, the pandemic is taking a heavy toll on the oil industry. The International Energy Agency (IEA) says the impact on investments in the oil industry will continue to be felt for years to come. The ongoing coronavirus pandemic will end up having long-term impacts on the petroleum industry that could be felt for…
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Oil and Gas Development Company’s (OGDC) profit fell 14% to Rs23.4 billion in the quarter ended September 30, 2020 due to a massive drop in oil prices in the international market. According to a notice sent to the Pakistan Stock Exchange on Thursday, the company had reported a profit of Rs27.3 billion in the same period of last year. Accordingly,…
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HYDERABAD: Federal Energy Minister Omar Ayub on Wednesday announced that Pakistan is planning to lay down a new gas pipeline with the cooperation of Russia. While announcing that gas reservoirs of the country are witnessing a fast decline, he blamed the PPP and PML-N for doing nothing during their previous tenures for tackling the situation. “They did not sign any tender…
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Shell Pakistan Limited (‘SPL’) has announced the financial results for Q3 2020. The company posted an after-tax profit of Rs. 1.81 billion, which is 218% or 2.18x higher as compared to the profit of Rs. 570 million in the same period last year. Overall, during the nine months of 2020, the company reported a loss of Rs. 6.06 billion, up…
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A continued investment in the technology sector often distinguishes developed nations from developing nations. An increased focus on this sector not only yields positive dividends on growth but also facilitates headway on the development front. This is why countries – like China – which house an overwhelming proportion of the competitive high-tech industry enjoy long-term economic prosperity in the wake…
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