Month: June 2024

Methane Gas Kills 11 in Balochistan Coal Mine Tragedy

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coal

QUETTA: Tragedy struck in the Sanjdi area, about 50 km from Quetta, as at least 11 individuals died from methane gas inhalation inside a coal mine on Monday. The victims included nine coal miners, a coal company manager, and a contractor. The incident occurred approximately 1,500 feet deep inside the mine when methane gas erupted and rapidly spread, rendering all the workers unconscious. Abdul Ghani Shahwani, Chief Inspector of Mines in Balochistan, reported that the workers, along with a contractor and manager, entered the mine at around 5 PM. After…

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KE Seeks Additional Fuel Cost Adjustment Amid National Tariff Hikes

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Nepra-Price

ISLAMABAD: On Monday, the National Electric Power Regulatory Authority (NEPRA) announced an additional Rs1.90 per unit cost to consumers nationwide for June, with further increases of 93 paise each for July and August. Concurrently, K-Electric (KE) has filed another fuel cost adjustment (FCA) claim for April, adding to its existing Rs18.6 per unit petition for the past nine months. In its recent submission to NEPRA, KE has proposed three different FCA scenarios for April. Two scenarios suggest a reduction of 74 paise to Rs1.18 per unit, while the third indicates…

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OGDCL Announces Production Commencement from Chanda-7 Well in Kohat & Production Revival from Kunnar-8 Well in Hyderabad

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OGDCL-Project

ISLAMABAD, June 03, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest Exploration and Production company, has announced the commencement of production from the Chanda-7 well in Kohat, Khyber Pakhtunkhwa, and successful revitalization of the Kunnar-8 well located in Hyderabad, Sindh to enhance oil and gas production.Chanda-7, a new development well, has been successfully tested, completed, and brought into production utilizing OGDCL’s in-house expertise. The well is currently producing 305 barrels per day (BPD) of oil and 2.5 million standard cubic feet per day (MMSCFD) of gas. Furthermore, 3.0…

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UNICEF Study: Resilient Energy Investment in Pakistan Could Prevent 175,000 Deaths

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UNICEF-Study

ISLAMABAD/NEW YORK, 31 May 2024 – A new UNICEF study highlights that investing in resilient energy for health facilities in Pakistan could prevent over 175,000 deaths by 2030 and contribute $296 million to the economy by 2044 through reduced maternal, adult, and infant mortality, and a lower disease burden. Resilient energy, defined as a reliable and flexible power supply capable of withstanding and recovering from shocks like power outages and floods, is crucial for the nation’s health, education, and water services. This investment could triple returns and significantly benefit children’s…

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Investors Rush to Aramco Share Sale Potentially Raising $13 Billion

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Investors-Rush

DUBAI: Saudi Arabia‘s sale of shares in oil giant Aramco saw overwhelming demand within hours of its launch on Sunday, with the deal potentially raising up to $13.1 billion. This significant transaction will test the international market’s appetite for the kingdom’s assets. Institutional orders for the shares will be accepted through Thursday, with the shares priced the following day. Trading is expected to begin next Sunday on Riyadh’s Saudi Exchange. This offering will serve as a measure of Riyadh’s attractiveness to foreign investors, a critical component of the kingdom’s strategy…

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