Category: Shortcode

PSO’s 48th AGM Highlights Strong Growth, Innovation, and Shift Toward Renewable Energy

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State-Oil

Karachi, October 24, 2024: Pakistan State Oil (PSO), Pakistan’s leading energy company, held its 48th Annual General Meeting (AGM) in Karachi, led by Chairman Mr. Asif Baigmohamed. Managing Director & CEO Syed Taha, board members, and senior management attended the session. PSO reported robust financial performance for FY24, with a gross revenue of PKR 3.8 trillion and a profit after tax of PKR 15.9 billion, resulting in an earnings per share of PKR 33.79. A dividend of PKR 10 per share, marking a 100% payout for FY23-24, was declared. The…

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New Study Highlights Severe Air Pollution Crisis in Karachi, Urging Immediate Action

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Air-Pollution

Karachi: Rising air pollution in Karachi is creating severe respiratory health risks, particularly for men, the elderly, and those with existing lung conditions, reveals a recent study by Aga Khan University, published in Atmospheric Pollution Research. The study focused on urban populations in Pakistan and found alarmingly high levels of PM2.5 particles in Karachi’s air. These microscopic particles, easily inhaled, are linked to respiratory problems. Dangerous concentrations of PM2.5 and other pollutants like sulfate, ammonium, nitrate, and black carbon were detected across the city, particularly at busy sites like Korangi…

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No more need to Imports HSD OGRA

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OGRA

Oct 24, Oil and Gas Regulatory Authority rebuts the news, that the country is carrying healthy stocks of HSD, suggesting no more need to import HSD in view of the ample supplies available with the refineries. It is clarified that HSD sales in the current month of October 2024 are up by 21% against the projected sales due to anti smuggling drive initiated by the Federal Government and the start of the agri season. The high sales have depleted the stocks that were reported as high earlier by refineries and…

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PPL’S 73rd Annual General Meeting approves 25% Cash Dividend

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PPL-Project

Karachi, October 25, 2024: Pakistan Petroleum Limited (PPL) held its 73rd Annual General Meeting (AGM) at a local hotel in Karachi, where shareholders approved the financial statements for the fiscal year ending June 30, 2024, along with the auditor’s report. A final cash dividend of 25% on ordinary shares was also ratified, bringing the total dividend for the year to 60%. The meeting was chaired by Mr. Shahab Rizvi, Chairman of the PPL Board of Directors, who expressed his gratitude to the shareholders for their continued trust and support. He…

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Experts Warn of Biased Decision-Making in Pakistan’s Oil Industry

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oil and gas

Pakistan’s oil industry is raising red flags over potential conflicts of interest and biased decision-making. The Ministry of Energy’s Petroleum Division is attempting to deploy officials from state-owned enterprises (SOEs) in key government departments, despite a 2020 directive calling for their repatriation due to risks of undermining impartiality ¹. Concerns Over SOE Dominance Experts warn that this move could cripple the already struggling energy sector. Officials from SOEs like Oil and Gas Development Company Limited (OGDCL) and Inter State Gas Systems (ISGS) are being placed in technical wings of the…

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