The Oil & Gas Development Company Limited (OGDCL) has announced its financial results for the quarter that ended on September 30 of the fiscal year 2022-23. While continuing its growth journey, the company has registered a 58 percent increase in its profit compared to the fiscal year 2021-22. The OGDCL Board of Directors, in its meeting has approved the Financial…
Read More
K-Electric (KE) held its 112th Annual General Meeting (AGM) for FY 2022. The meeting was chaired by Moonis Alvi – Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board Mark Skelton. The Chairman and KE Board members were in attendance virtually, while KE leadership was present in person. KE’s operational performance has…
Read More
Oil and Gas Development Company Ltd recorded a net profit of Rs53.3 billion for July-September, up 58 per cent from a year ago. The company also announced an interim cash dividend of Rs1.75 per share, a stock notice showed on Tuesday. According to Arif Habib Ltd, net sales settled at Rs106bn in the three-month period, up 48pc on an annual…
Read More
National Electric Power Regulatory Authority (Nepra) on Tuesday disclosed that K-Electric’s (KE’s) own average power generation is over 300 per cent costlier at Rs 37.74 per unit as compared to Rs 10 per unit of CPPA-G. These statistics were shared by the regulator at a public hearing held to determine financial impact of Fuel Charges Adjustment (FCA) for September 2022.…
Read More
Central Power Purchasing Agency –Guaranteed (CPPA-G) has shown willingness to renegotiate forced outage during conversion of imported coal-fired power plant of Port Qasim Electric Power Co. Ltd (PQEPCL) on ten percent blending of Thar coal, sources in PPIB told Business Recorder. CPPA-G conveyed this stance to PPIB, seeking amendment in the minutes of PPIB meeting held on early this month.…
Read More
Copper prices slipped on Tuesday as the market focused on slowing growth and demand around the world, though some price support was provided by low stock levels in warehouses registered with the London Metal Exchange (LME). Benchmark copper on the was down 1.4% at $7,451 a tonne by 0938 GMT. Prices of the metal used by investors as a gauge…
Read More
The Supreme Court on Tuesday issued notices to Barrick Gold Corporation (BGC), Balochistan government, Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Company and others on the presidential reference regarding Reko Diq. A five-member larger bench of the apex court headed by Chief Justice Umar Ata Bandial and comprising Justice Jamal Khan Mandokhail, Justice Aijazul Ahsan, Justice Munib Akhtar…
Read More
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. The comment appeared to be a criticism of U.S. President Joe Biden’s decision to sell oil from the nation’s emergency oil reserve as he tries to lower gasoline…
Read More
