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…
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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…
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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…
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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…
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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…
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Despite the perception that fossil fuels are directly at odds with clean energy development, oil and gas companies have a prominent role to play within the energy transition. In fact, oil and gas majors are some of the few companies that possess the financial resources, skill sets and innovation to transform present-day energy and economic systems, and as a result,…
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Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50 percent by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting spot prices of the super-chilled…
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The Ministry of Finance continues to keep mum about the outcome of its long negotiations with the International Monetary Fund (IMF) for the revival of its $6 billion Extended Fund Facility (EFF) as authorities reported to have received about $3.2bn in foreign assistance in the first quarter of the current fiscal year. Informed sources said the extended talks between the…
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With only a few days left until the 26th UN Climate Change Conference (COP26), 197 world leaders, along with tens of thousands of negotiators, government representatives, businesses, and citizens, are gearing up to participate in the 13 days of talks that will accelerate climate action and give the world a chance to limit the rise in global temperature to 1.5…
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Pakistan will ensure renewable energy makes up 60 percent of its total mix and 30 percent of all transport will be shifted to electric vehicles by 2030, the country’s Prime Minister has confirmed. Speaking at the Middle East Green Initiative Summit in Riyadh, Imran Khan talked up the initiatives Pakistan has already taken to develop clean energy as he climate change…
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