Category: Shortcode

OGDCL provides clean water

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ogdcl

ISLAMABAD: State-owned Oil and Gas Development Company Limited (OGDCL) inaugurated a Reverse Osmosis Plant in a rural village near Rawalpindi, providing clean drinking water to the local community, a statement said. The plant, located in Gorsian village of Gujjar Khan tehsil, is part of OGDCL’s Corporate Social Responsibility (CSR) program, which aims to improve the living standards of the people in its operational areas. OGDCL, the country’s largest Exploration and Production (E&P) company in the petroleum sector, said the plant would help prevent waterborne diseases and improve public health in…

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World’s richest families have become $1.5tr wealthier since last ranking

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New-Project

KARACHI: For the first time, the House of Nahyan has joined Bloomberg’s annual ranking of family fortunes and done so at the very top. With a $305 billion fortune, the Al Nahyans of Abu Dhabi topped the Waltons of Walmart Inc. by a cool $45 billion. Another new entrant, the Al Thanis, the royal family of Qatar, at No 5. The petro-fortunes are reshaping global business as never before. Their flexing of personal — as well as sovereign — financial firepower adds multibillion-dollar exclamation points to the region’s growing influence.…

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India initiates first rupee payment for oil to UAE

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oil-and-gas-1

NEW DELHI: India has made its first-ever payment in rupees for crude oil obtained from the UAE, marking a significant move in the country’s initiative to promote the global use of its local currency. Officials have emphasized that this groundbreaking step is part of a broader strategy to explore similar deals with other oil suppliers, Indian media reported. The initiative comes as India, the world’s third-largest energy consumer, pursues a three-pronged strategy to address its oil needs. This strategy includes purchasing from the most cost-effective sources, diversifying the supply chain,…

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Efforts in place to mitigate load shedding

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Power-generation

Recent load shedding on 25th and 26th of December was due to tripping of multiple grid stations in Multan region and other DISCOs. Due to fog, the grid stations of 132kv, 220kv and 500kv tripped. During same time the Hydel generation plummeted creating constraints to balance the system. NTDC system is facing a challenging time due to these extreme weather conditions and low hydel generation. Current shortfall in generation is mitigated by load management to keep the system working. Shortfall due to hydel is around 1600MW due to canal closure…

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Refineries shun Russian crude as fuel oil prices dip

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Parco-board

KARACHI: Local refineries are reluctant to import the Russian crude oil as the global prices of furnace oil, a by-product of the Russian oil, have plunged, industry sources told The News on Tuesday. “We need the Russian crude oil at a discounted price because the price for the earlier cargo is not feasible in the present times when the furnace oil price has gone down in the international market,” one source said. Furnace oil prices have dropped to $60 per barrel from $80 per barrel in early December, making it…

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