Day: February 23, 2022

OGDCL ANNOUNCED FINANCIAL RESULTS FOR
THE HALF YEAR ENDED DECEMBER 31, 2021.

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ogdcl

The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 23rd February, 2022 at OGDCL Head Office, Islamabad announced the financial results for the half quarter ended 31st December, 2021 of fiscal year 2021-22. Net sales revenue clocked at Rs.151.163 billion translating to Profit after tax of Rs. 68.882 billion and earnings per share of Rs. 16.02.The Board of Directors announced an interim cash dividend for the quarter ended December 31, 2021 @ Rs. 2.00 per share i.e. 20 percent. This is in…

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Turkey’s underground gas storage capacity to reach 10 bcm in 2023

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Turkey is working to increase the natural gas storage capacity at its facilities. Accordingly, the total capacity of the two facilities, Silivri and Lake Tuz underground natural gas storage facilities, will reach 10 billion cubic meters (bcm) next year, with the completion of the capacity increase works, Energy and Natural Resources Minister Fatih Dönmez said Sunday. Dönmez made the statements during his visit to the Silivri Underground Natural Gas Storage Facility, Turkey’s first natural gas storage facility, owned by the country’s Petroleum Pipeline Corporation (BOTAŞ). Dönmez also visited the drilling…

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Cost of power generation

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The average cost of fuel used for electricity production doubled last month compared to Jan 2021, raising serious inflationary concerns among commercial and residential consumers alike. Even if we look at the Nepra data for Dec 2021, fuel costs were still up by almost 50%. Although the increase is mainly for reasons beyond the government’s hands — prices of coal, natural gas and petroleum products have been rising sharply all over the world — it is clear in hindsight that the push to encourage consumers to use electricity instead of…

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Cemvita Launches Gold Hydrogen Program

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Cemvita Factory has announced that it has launched the Gold Hydrogen program, which it describes as a coalition of organizations seeking to support the scale of the clean energy resource. Founded by Cemvita Factory and Chart Industries, Inc, the program’s other collaborators include EXP and the Center for Houston’s Future, which is a nonprofit organization. Through the program, member companies collaborate to generate gold hydrogen cleanly, efficiently, and at scale to meet rising global demand, according to Cemvita. The company outlined that participation in the group will be capped at…

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LNG industry rebounds in 2021

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As economies rebound from the impact of Covid-19 pandemic, the global trade of liquefied natural gas (LNG) registered an increase of 6% to 380 million tonnes in 2021, according to a report published by an energy company on Monday. The rising LNG demand coupled with supply constraints kept gas prices volatile throughout the year. In October 2021, LNG prices reached record levels as Europe, with historically low storage levels, struggled to secure LNG cargoes to meet the expected demand in winter season, said the report, which was published by Shell.…

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