The latest discovery further extends the hydrocarbon play area in Pothohar basin: OGDCL The Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration company on Thursday announced the discovery of oil reserves from its exploratory well – Toot Deep-1 Well – located in the Attock district of Punjab Province. OGDCL being the operator of Toot Mining…
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Oil and Gas Development Company Limited (OGDCL), the largest oil and gas exploration company in Pakistan, on Thursday announced the discovery of oil reserves from its exploratory well in Punjab. In a notice sent to the Pakistan Stock Exchange (PSX), the company announced that OGDCL “being operator of Toot Mining Lease with 100% working interest has made oil discovery from…
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The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed ex-Wapda Distribution Companies (Discos) to charge about nine paise per unit higher rates to their consumers under monthly fuel cost adjustment (FCA) for electricity consumed in September. At a public hearing presided over by Nepra Chairman Tauseef H. Farooqui and members Rafique Shaikh and Maqsood Anwar Khan, the regulator took…
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Former PM Shahid Khaqan Abbasi for adopting emergency measures to resolve inefficiencies in energy sector to save economy Islamabad: Former prime minister Shahid Khaqan Abbasi has said that inefficiencies in the energy sector have to be addressed on an emergency basis to save the national economy from an utter crash.While addressing a dialogue on “Energy crises and way forward” organized…
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The Oil & Gas Development Company Limited (OGDCL) has announced its financial results for the quarter that ended on September 30 of the fiscal year 2022-23. While continuing its growth journey, the company has registered a 58 percent increase in its profit compared to the fiscal year 2021-22. The OGDCL Board of Directors, in its meeting has approved the Financial…
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K-Electric (KE) held its 112th Annual General Meeting (AGM) for FY 2022. The meeting was chaired by Moonis Alvi – Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board Mark Skelton. The Chairman and KE Board members were in attendance virtually, while KE leadership was present in person. KE’s operational performance has…
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Oil and Gas Development Company Ltd recorded a net profit of Rs53.3 billion for July-September, up 58 per cent from a year ago. The company also announced an interim cash dividend of Rs1.75 per share, a stock notice showed on Tuesday. According to Arif Habib Ltd, net sales settled at Rs106bn in the three-month period, up 48pc on an annual…
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National Electric Power Regulatory Authority (Nepra) on Tuesday disclosed that K-Electric’s (KE’s) own average power generation is over 300 per cent costlier at Rs 37.74 per unit as compared to Rs 10 per unit of CPPA-G. These statistics were shared by the regulator at a public hearing held to determine financial impact of Fuel Charges Adjustment (FCA) for September 2022.…
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Central Power Purchasing Agency –Guaranteed (CPPA-G) has shown willingness to renegotiate forced outage during conversion of imported coal-fired power plant of Port Qasim Electric Power Co. Ltd (PQEPCL) on ten percent blending of Thar coal, sources in PPIB told Business Recorder. CPPA-G conveyed this stance to PPIB, seeking amendment in the minutes of PPIB meeting held on early this month.…
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Copper prices slipped on Tuesday as the market focused on slowing growth and demand around the world, though some price support was provided by low stock levels in warehouses registered with the London Metal Exchange (LME). Benchmark copper on the was down 1.4% at $7,451 a tonne by 0938 GMT. Prices of the metal used by investors as a gauge…
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