Author: Admin

Production Curbs Dent OGDCL Profit Despite Strong Exploration Gains

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ISLAMABAD: Pakistan’s largest exploration and production company, Oil and Gas Development Company Limited, reported an 11% decline in profitability for the first nine months (July–March) of FY2025-26, primarily due to forced production curtailments and weaker global energy prices. The company posted a profit after tax of *Rs115.3 billion, down from Rs129 billion in the same period last year and Rs171 billion in FY2023-24. Net sales also slipped by 3.5% to *Rs300.1 billion, compared to Rs311 billion a year earlier. The Board of Directors approved a *third-quarter dividend of Rs3.25 per…

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EIB Commits €160 Million to Rebuild Sindh, Improve Karachi Water Supply

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ISLAMABAD: The European Investment Bank through its development arm EIB Global has pledged €160 million to support post-flood reconstruction in Sindh and enhance water infrastructure in Karachi, marking its return to Pakistan after a decade. The announcement was made at the EU-Pakistan Business Forum, where two major financing agreements were signed with the Government of Pakistan. Out of the total commitment, €100 million will fund Sindh’s housing reconstruction programme—currently the world’s largest post-disaster rebuilding initiative—aimed at restoring around 2.1 million homes damaged during the 2022 floods. The nearly $2 billion…

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Global Nuclear Power Landscape 2026: USA, China, and France Lead; Pakistan Expands Capacity

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As of 2026, more than 30 countries across the world are generating electricity through nuclear power, highlighting its growing importance as a reliable and low-carbon energy source. According to the World Nuclear Association, the United States, China, and France remain the top nuclear power producers globally. The United States leads with around 94 operational reactors, making it the largest producer of nuclear electricity. China ranks second, rapidly expanding its nuclear fleet with over 60 reactors as part of its clean energy transition strategy. France continues to rely heavily on nuclear…

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OGDCL Announces Financial Results for the Nine Months Ended March 31, 2026; Declares Highest Third Quarterly Dividend of Rs 3.25 per Share, Taking Nine-Month Payout to Record Rs 11.00 per Share ISLAMABAD, April 29, 2026:

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OGDCL Announces Financial Results for the Nine Months Ended March 31, 2026; Declares Highest Third Quarterly Dividend of Rs 3.25 per Share, Taking Nine-Month Payout to Record Rs 11.00 per ShareISLAMABAD, April 29, 2026: The Board of Directors of Oil & Gas Development Company Limited (OGDCL), in its meeting held on Wednesday, April 29, 2026, announced the financial results for the nine months ended March 31, 2026, and declared a third interim cash dividend of Rs 3.25 per share (32.50%) — the highest third quarterly dividend in the Company’s history.…

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Sindh Govt, K-Electric move to design targeted electricity subsidy for low-income consumers

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KARACHI (April 29): Sindh Chief Minister Syed Murad Ali Shah has directed the Energy Department and K-Electric to jointly develop a targeted subsidy mechanism aimed at reducing electricity costs for vulnerable consumers in Karachi, while improving supply reliability in low-income areas ahead of the summer season. The directive came during a meeting held at the Chief Minister House with K-Electric leadership, including Chairman Shahryar Chishti and CEO Syed Taha, and senior provincial officials such as PSCM Agha Wasif and Energy Secretary Shuhab Ansari. Expressing concern over prolonged and increasing load-shedding…

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