Category: News & Announcement

The oil price will hit $100 per barrel in around 18 months. That’s what Orascom Investment Holding Chairman and CEO Naguib Sawiris believes, a new CNBC television interview has revealed.  “I actually believe that in, let’s say, 18 months from now the oil will hit $100,” Sawiris told CNBC via phone in the interview, which was published on CNBC’s website on May 6. “The shale industry will vanish for at least one year … and the start-up is going to be difficult because banks are going to be very reluctant…

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Sea-level rise is faster than previously believed and could exceed 1 metre by the end of the century unless global emissions are reduced, according to a survey of more than 100 specialists. Based on new knowledge of climate sensitivity and polar ice melt, the experts say coastal cities should prepare for an impact that will hit sooner than predicted by the United Nations and could reach as high as 5 metres by 2300. “A global sea-level rise by several metres would be detrimental for many coastal cities such as Miami, New York,…

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ISLAMABAD: Pakistan State Oil (PSO) stands with the nation amid Corona pandemic, contributes Rs 71 million for relief activities, says a Press release.PSO, Pakistan’s largest Oil Marketing Company, stands by its commitment to serve the nation. PSO has donated Rs. 71 million to provide support and relief to the underprivileged segments of society affected by Corona across the country. Out of the Rs 71 million package, Rs. 50 million has been contributed to the Prime Minister’s Corona Relief Fund. MD & CEO PSO Syed Muhammad Taha and Chairman, BOM, PSO,…

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Hot on the heels of last month’s announcement to become a net zero energy business by 2050, Shell has today revealed its intention to create a green hydrogen hub in the port of Rotterdam, using green electricity generated by wind power. Expected to go into operation by 2023, the green hydrogen plant will produce about 50,000-60,000kg of hydrogen per day and have a capacity of around 200MW. It will be constructed at a dedicated industrial site realised by the Port of Rotterdam Authority at Maasvlakte for electrolysers operated by various…

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Amin Rajput has been appointed acting managing director of Sui Southern Gas Company Limited (SSGCL) with effect from May 5, informed the company in a statement to the Pakistan Stock Exchange on Thursday.  The statement further said that Amin Rajput has been appointed in place of Mohammad Wasim. 

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