Category: Highlights

KARACHI: The country lost Rs122 billion in last two years due to delayed on spot LNG purchase and production of expensive power through furnace oil, inflicting a colossal sense of foreboding and frustration among the nation. This was stated by Shahzeb Khanzada in his Monday’s episode of ‘Aaj Shahzeb Khanzada Kay Sath.’ Khanzada said due to the failure to contract LNG purchase through futures market, the people not only suffered acute shortages of the heating and cooking fuel in the intense winter, the country on the other hand lost Rs35…

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Pakistan’s federal government is planning to build modern cities on the Bundal and Dingi islands, which could ease pressure on Karachi, the country’s financial hub. Experts say it would be an ecological catastrophe. The government’s decision to establish the Pakistan Islands Development Authority and bring the Bundal and Dingi islands off the Karachi coast under federal authority shocked Majeed Motani, a 70-year-old fisherman. “Our forefathers came to these islands centuries ago. Now, the government is trying to occupy them. It is a threat not only to our livelihoods but also…

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When Jim Clayton* still worked in a coal mine, he would head to a nearby bar to settle his accounts. The pub effectively became his office. When after 22 years in the industry he quit his job and decided to run the pub instead, it was easy to choose a new name for the place. These days, The Office has become a hangout for many of those earning a living in the coal, oil and gas industry in northeastern Wyoming. The Office is situated along a thoroughfare just north of Gillette, the self-declared…

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Pakistan’s power sector (ex KE) generated 124 billion units in 2018. Another 124 billion in 2019. And 123 billion in 2020. You do not have to look to any other data set to get an idea how Pakistan’s economy has been in a struggling phase for the best part of 2 years. December 2020 net power generation at 7.8 billion units is only 3 percent higher year-on-year. Read that with the government’s claim that the incentive offered for incremental consumption to industries has yielded good results. As per the government,…

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Oil and Gas Development Company Limited (PSX: OGDC) is the largest player in the E&P sector in the country. It has the largest portfolio of net hydrocarbon reserves in Pakistan, which includes 44 percent of oil and 37 percent of gas as of June 2020. The company contributed to 29 percent of Pakistan’s total natural gas production, and 46 percent of its oil production in FY20. Shareholding Pattern Government of Pakistan is the largest shareholder in OGDC. Its disinvested part of its shareholding in the company back in 2003. Initially…

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