Category: News & Announcement

The Pakistan stock market crashed on Friday, but amidst all the doom and gloom smart money was chasing one stock: Oil and Gas Development Company Limited. When the KSE-100 was bleeding, down 4.6% within five minutes of the market’s opening, the share of oil and gas giant OGDCL hit Rs96.20, its lowest level in more than five years. It appreciated slightly to Rs96.55 when trade halted for 45 minutes to stop the panic. After the trade halt was lifted, OGDCL’s stock rose 3.6% to Rs103.75 per share with three million shares changing hands. The oil and…

Read More

March 12, 2020: A recent waste crude oil spillage, after recent heavy rain spell, in the Nirali Dam of Gujar Khan has posed a serious threat to human health and the environment in the vicinity. Assistant Director Punjab Environment Protection Department (EPD) Amin Baig has said that the crude oil leakage occurred in the Adhi Oil field of Pakistan Petroleum Limited (PPL). “After reports of the oil flow over into the reservoir, the EPD team visited the site and took the PPL administration on board whereas DO Fisheries Muratab Ali also…

Read More

There’s no doubt about it, it has been a rough week for oil. Just days after Saudi Arabia and Russia launched a full-blown oil war, forcing prices to drop by 25% in a single day, U.S. President declared a travel ban for all flights to Europe. And now today, the President declared a National Emergency. Trump’s statement came as a number of public and private businesses have already taken action. Major sporting leagues, conferences and public events have already been canceled, and schools across the nation had already been shut down…

Read More

Chinese government spokesman Lijian Zhao wrote on Twitter that the coronavirus may have originated in the United States and was brought to China by US Army. Serious accusations that will cause discussion. “We need American officers to respect the facts – wrote Zhao -. Every minute wasted in libel and complaints would be better spent on improving domestic reactions and international cooperation. ” In the tweet, the spokesman for the Chinese Foreign Ministry asked some questions: “When did patient zero date in the United States? How many people are infected in the States? What are the…

Read More

The zero-emissions option of hydrogen fuel holds a lot of promise for reducing our reliance on fossil fuels – if only we could find a way to produce it cheaply and without needing insane amounts of energy input. Now, scientists have found a way to efficiently produce hydrogen fuel by using rust and a light source. The set-up uses just a few basic ingredients – light from a mercury-xenon lamp, a solution of water and methanol, and a particular type of rust (or iron oxide) called α-FeOOH. In a new study, researchers…

Read More