Category: News & Announcement

KARACHI:  Pakistan Petroleum’s (PPL) profit rose 2.84% to Rs14.15 billion during the quarter ended March 31, 2020 due to a notable plunge in exploration cost and an increase in other income. The company had reported a profit of Rs13.76 billion in the same quarter of the previous year, according to a notice sent to the Pakistan Stock Exchange (PSX) on Thursday. Earnings per share of the oil company stood at Rs5.20 in the quarter under review compared to Rs5.06 in the same period of the previous year. Net sales of…

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Monday’s epic collapse in WTI (West Texas International) crude oil futures to forty-minus-zero might not be just a “fleeting moment” that the biggest Pakistani English newspaper’s lead editorial made it out to be. The development may have occurred only for contracts for May delivery, that were expiring on Tuesday (one day after the crash), and only happened in the market for one benchmark. Yet it did not take long for the June contract to come under pressure as well as it dropped by more than 45 per cent to close…

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PESHAWAR: With zero reported cases of Covid – 19 in its exploration and production fields of KP through strictly maintaining health, safety and environment (HSE) undertakings of the company, MOL Pakistan on Thursday said it was committed to keeping its operational continuation to meet the energy demand of the country despite testing times. The MOL Pakistan’s Country Pandemic Operative Response (CPOR) Plan has been formulated in line with recommendations of the WHO and the National Preparedness and Response Plan for COVID-19 by the Ministry of National Health Services, Regulation and…

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[8:30 PM, 4/23/2020] Naeem Energy Update: Pakistan lacks guidelines for running a special system to safely dispose of infected trash and clinical waste being generated by the isolation and quarantine centres and hospitals across the country where the patients of Covid-19 are being kept and treated as this issue could create a serious health and environmental emergency in the country. This was one of the major concerns expressed by the concerned environmental activists who participated via the video-link in the virtual conference held by Central Standing Committee on Environment of…

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The federal government has decided to give charge of a high profile probe related to irregularities in the power sector to retired justice Ejaz Afzal Khan, sources informed on Thursday. The sources said a formal announcement in this regard will be made within the next few days. It is pertinent to mention that the former judge was a part of the Supreme Court bench which heard the Panama Papers case. He had retired two years ago. Earlier, an inquiry committee probing losses in the power sector had provided a report…

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