The big oil companies – from the UK-based BP and Shell to international giants such as ExxonMobil and Norway’s Equinor – have been announcing astonishing profit figures. They are all benefitting from the surging price of oil and gas following the invasion of Ukraine. While they rake in the profits, people around the world are struggling to pay their energy bills and fill up their cars – leading to calls for higher taxes on these companies. So how are they making so much money, and should the government step in…
Read MoreMonth: February 2023
Inflation may have peaked, but the cost of living pain is far from over
At long last, Britain’s annual inflation rate is on the way down. After hitting the highest level since the 1980s, heaping pressure on millions of households as living costs soared, official figures this week could bring some rare good news. City economists expect UK inflation to have cooled for a third month running in January – the exact number is announced on Wednesday – helped by falling petrol prices and a broader decline in the global price of oil and gas in recent months. The hope now is for a…
Read MoreFebruary 2023
Engineer Dr Rana Abdul Jabbar Khan Assumes Charge Of MD NTDC
ISLAMABAD: Engineer Dr Rana Abdul Jabbar Khan on Thursday assumed the charge of Managing Director of National Transmission and Despatch Company (NTDC). The federal government has appointed Engr. Dr. Rana Abdul Jabbar Khan as Managing Director of NTDC. In this regard, the Federal Cabinet approved the summary submitted by the Ministry of Energy (Power Division), said a press release. A formal notification for the appointment of Engr. Dr. Rana Abdul Jabbar Khan was issued. Engr.Dr. Rana Abdul Jabbar Khan completed his BSc in Electrical Engineering from the University of Engineering & Technology Lahore, MSc in Electrical Engineering from the University of Wollongong Australia and PhD. from Royal Melbourne Institute…
Read MoreOGRA calls for action against hoarders of petrol, diesel in Punjab
The Oil and Gas Regulatory Authority (OGRA) asked the Chief Secretary (Punjab) to take action against warehouses illegally storing petroleum products in the province, it has been reported. In a letter, OGRA said it has identified illegal storage of petrol and diesel which might be used to dump or store POL products for inventory gains. “It is requested that immediate action against these culprits is required by your good office to avoid inconvenience to the general public,” it added. OGRA also reportedly shared the list of illegal petrol/diesel storages identified…
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