Year: 2023

OGDCL Announced Financial Results for The Half Year Ended December 31, 2022

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ogdcl

The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 22nd February, 2023 at OGDCL Head Office, Islamabad announced the financial results for the half quarter ended 31st December, 2022 of fiscal year 2022-23. Net sales revenue clocked at Rs.203.235 billion translating to Profit after tax of Rs. 95.011 billion and earnings per share of Rs. 22.09.The Board of Directors announced an interim cash dividend for the quarter ended December 31, 2022 @ Rs. 2.25 per share i.e. 22.50 percent. This is in…

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IEA Warns of Tighter Energy Supply Next Winter

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lng-supply

Global Energy Organization (IEA) head Fatih Birol has cautioned of conceivable energy deficiencies the following winter as generally minimal new condensed petroleum gas (LNG) is coming to the market while China’s utilization is set to rise this year. European legislatures settled on many right choices throughout the past year to guarantee energy supply, for example, fabricating more LNG terminals to supplant pipeline conveyances of Russian gas, Birol told Reuters uninvolved of the yearly Munich Security Gathering on Saturday. However, they likewise lucked out, he said, with a gentle winter hosing…

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Oil Updates Crude Climbs India’s Russian Oil Imports Surge to a Record in January

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Oil-updates

Oil costs went up on Monday, in the wake of settling down $2 a barrel on Friday, as idealism rose over China’s interest recuperation. Brent unrefined went up 41 pennies, or 0.49 percent, to $83.41 a barrel at 08.12 a.m. Saudi time. US West Texas Halfway rough was at $76.69 a barrel, up 35 pennies. India’s Russian oil imports moved to a record 1.4 million barrels each day in January, up 9.2 percent from December, with Moscow still the top month to month oil merchant to New Delhi, trailed by…

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Asia Diesel Profits Wane as China Boosts Exports Market Adapts to Russia Russell

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Asia-diesel

The benefit for making diesel in Asia has dropped to the most reduced in nearly 12 months, a sign that the market is adjusting such a long ways to the European prohibition on imports of the vehicle fuel from Russia. The net revenue, or break, on creating a barrel of gasoil, the structure block for diesel, at a commonplace Singapore treatment facility slipped to $22.05 a barrel on Feb. 17, the most minimal since Walk 16 last year. The break is down 43% from its pinnacle up until this point…

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PSO Inventory Losses Diminish Earnings

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pso

While the oil showcasing organizations had seen vigorous deals of oil based goods in a large portion of FY22, the petrol deals have been more vulnerable in FY23 such a long ways because of a critical change in the monetary slump, political strife, and blaze floods. In the midst of more vulnerable deals, the oil advertising organizations were additionally expected to cause huge stock misfortunes that would pull down profit for the organizations in the new outcome declarations. Pakistan State Oil (PSX: PSO) declared its monetary execution for 1HFY23 last…

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