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The Pakistan Petroleum Limited (PPL) earned a profit-after-tax of Rs52.4 billion, the second highest for the company.The company also announced a final cash dividend of 20 per cent on ordinary and 15 per cent on convertible preference shares. This was announced in the 70th annual general meeting of the Pakistan Petroleum Limited (PPL), held online on October 25.The members approved the financial statements for the fiscal year ended June 30, 2021, together with the auditor’s report. In his opening remarks, PPL board of directors’ chairman Shahab Rizvi highlighted that despite…

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The Queensland Government has partnered with Japan Oil, Gas and Metals National Corporation (JOGMEC) and the University of Queensland to study leftover cobalt in copper mine tailings. The three-year study will take samples from Copper Resources Australia’s Rocklands copper mine in northwest Queensland. Queensland Resources Minister Scott Stewart said this study could change the face of sustainable copper mining. “This research could help unlock the state’s potential as a major global supplier of ethically sourced cobalt and battery manufacturing right here in Queensland,” Stewart said. “Australia and Japan have a…

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Contrary to the prime minister’s vision, the National Transmission and Despatch Company (NTDC) has excluded at least 40 hydropower projects of Khyber Pakhtunkhwa having a cumulative capacity of 3,150MW from the Indicative Generation Capacity Expansion Plan (IGCEP). However, only 10 projects of 788MW were included in the IGCEP, with a pretext that hydropower projects are costly. This would result in a loss of an estimated $9 billion foreign direct investment (FDI) to the province. Even the projects for which the KP government has signed MoU’s with Korean state-owned companies are…

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Three local oil refineries – Pakistan Refinery Limited (PRL), National Refinery Limited (NRL) and BYCO Petroleum Pakistan Limited – have raised their voices against the allegation of being responsible for producing a high level of carbon emission leveled by a member of the Energy Export Group of the Economic Advisory Council (EAC). Responding to a letter from the DG Oil Petroleum Division dated October 13, 2021, heads of the refineries have contested against Farooq Rahmatullah’s letter against the three in separate letters of their own. As per details, the EAC…

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Minister of Energy Hammad Azhar while underscoring the importance of hydropower for the development of the country on Wednesday said that it was imperative to end reliance on costly imported fuels and promote clean and green hydro energy.Addressing an inaugural session of 1st International Conference on Pakistan Hydropower Sector organized by Energy Update in collaboration with Private Power Infrastructure Board (PPIB) here, he said the incumbent government declared this decade as “Decade of Dams”. The government was giving top priority to build more dams in order to not only improve…

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