Category: Highlights

The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 23rd February, 2022 at OGDCL Head Office, Islamabad announced the financial results for the half quarter ended 31st December, 2021 of fiscal year 2021-22. Net sales revenue clocked at Rs.151.163 billion translating to Profit after tax of Rs. 68.882 billion and earnings per share of Rs. 16.02.The Board of Directors announced an interim cash dividend for the quarter ended December 31, 2021 @ Rs. 2.00 per share i.e. 20 percent. This is in…

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Cemvita Factory has announced that it has launched the Gold Hydrogen program, which it describes as a coalition of organizations seeking to support the scale of the clean energy resource. Founded by Cemvita Factory and Chart Industries, Inc, the program’s other collaborators include EXP and the Center for Houston’s Future, which is a nonprofit organization. Through the program, member companies collaborate to generate gold hydrogen cleanly, efficiently, and at scale to meet rising global demand, according to Cemvita. The company outlined that participation in the group will be capped at…

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As economies rebound from the impact of Covid-19 pandemic, the global trade of liquefied natural gas (LNG) registered an increase of 6% to 380 million tonnes in 2021, according to a report published by an energy company on Monday. The rising LNG demand coupled with supply constraints kept gas prices volatile throughout the year. In October 2021, LNG prices reached record levels as Europe, with historically low storage levels, struggled to secure LNG cargoes to meet the expected demand in winter season, said the report, which was published by Shell.…

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The IMF sixth review staff report published recently contains some ambitious targets for the public finances of the federal and provincial governments combined for 2021-22. These are reflected in the performance criteria and indicative targets for the remaining three reviews in the existing programme. The expectation is that the ongoing financial year will close with a small primary surplus, for the first time after many years. This will represent a fundamental improvement in the state of public finances of Pakistan and facilitate the process of reduction in the net government…

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There may be no end in sight for the European power crunch this year, even after the winter season ends. Low nuclear power generation in France, a major producer and exporter of nuclear-powered electricity in Europe, could send power prices on the continent higher in the spring. France gets more than 70 percent of its total electricity from nuclear power generation and is a major exporter of electricity, including to the UK. France’s EDF stopped two nuclear power plants at the end of last year after finding a fault at…

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