Year: 2020

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Thursday approved increase in electricity tariffs of Discos for five months and reduction for three months under monthly fuel price adjustment mechanism to be passed on to consumers in August and September 2020. For November, 2019, Nepra approved an increase of Re 0.9824 per unit with positive financial impact of Rs 7.082 billion, for December 2019, Rs 1.8880 per unit, with a financial impact of Rs 13.800 billion, for January, 2020, Re 0.9380 per unit, positive impact Rs 7.010 billion, for February…

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The world’s largest oilfield services provider, Schlumberger (NYSE:SLB), reported on Friday a second straight quarterly loss on the back of a dramatic revenue slump in U.S. shale and asset impairment charges in what “has probably been the most challenging quarter in past decades,” as CEO Olivier Le Peuch said. The company also announced it would get rid of 21,000 jobs as oil producers rein in spending. Schlumberger reported on Friday a net loss of US$3.434 billion for the second quarter, after a US$7.376-billion loss for Q1, which was the result…

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Ukraine’s state-held gas firm Naftogaz is reportedly opposed to the pricing formula for U.S. liquefied natural gas (LNG) it could receive under a long-term contract, while there isn’t enough infrastructure ready to ship American LNG from Poland into Ukraine, analysts have told DW. The U.S. is eager to supply its LNG to central and eastern European markets, especially Poland and Ukraine, arguing that American gas is superior to gas from Russia, which binds economic contracts with politics. However, talks between Louisiana Natural Gas Exports Inc and Ukraine’s Naftogaz have stalled,…

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