Day: October 31, 2022

Mari – earnings up again

Admin

The fiscal year FY22 witnessed spiking oil and energy prices, which lifted the revenues and earnings of the E&P sector. Mari Petroleum Company Limited (PSX: MARI) also announced its higher revenues coming from higher oil and gas prices in FY22. In 1QFY23 as well, MARI’s revenues were seen climbing by 53 percent year-on-year on account of higher gas wellhead prices that surged by 67 percent year-on-year. Revised well-head gas prices incorporated the recent strength in crude oil prices which provided the stimulus to the topline. The improvement in MARI’s production…

Read More

Russia Accuses The British Navy Of Blowing Up Nord Stream Pipelines

Admin

Moscow has pointed the finger at London for the explosions that put the Nord Stream 1 and 2 pipelines out of commission. London has denied any involvement, Reuters reported this weekend. “According to available information, representatives of this unit of the British Navy took part in the planning, provision and implementation of a terrorist attack in the Baltic Sea on September 26 this year – blowing up the Nord Stream 1 and Nord Stream 2 gas pipelines,” the Russian defense ministry said. “To detract from their disastrous handling of the…

Read More

Oil Majors Expect Permian Production Growth To Slow

Admin

Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the most prolific shale play in the United States. In their third-quarter reports, Chevron and Exxon both revised down their planned output from the Permian, although moderately. Chevron said its Permian output had hit a record high in the quarter that just ended, at 700,000 bpd. Exxon also posted record production in the…

Read More

Pakistan’s REER falls to 90.9 in September

Admin

Pakistan’s Real Effective Exchange Rate (REER) declined to 90.94 in September compared to 94.38 in August, data released by the State Bank of Pakistan (SBP) showed on Sunday. As per the latest data, the REER decreased by 3.65% on a monthly basis. The last time the REER was close to 100 was in June 2021. A REER below 100 means the country’s exports are competitive, while imports are expensive. Experts say a REER close to 100 suggests a place where the currency does not favour either exports’ competitiveness or imports.…

Read More

SNGPL to provide gas cylinders to commercial consumers in winter season

Admin

MULTAN-Sui Northern Gas Pipelines Limited (SNGPL) General Manager (GM) Shahzad Iqbal said that the gas connections of commercial consumers were being cancelled and cylinders will be provided to them at their doorsteps to ensure gas supply to domestic customers in the winter season. SNGPL GM expressed these views while addressing the executive body of Multan Chamber of Commerce and Industry (MCCI), here, on Sunday. He further said that the RLNG gas cylinders will be provided to commercial consumers at the rates set by OGRA. He said that the initiative was…

Read More