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Day: February 26, 2024

Pakistan Petroleum Limited (PPL) Reports Impressive 44% Surge in Half-Year Profits

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PPL-achieves

Pakistan Petroleum Limited (PPL), a prominent natural gas supplier in the country, has announced a significant uptick in its profit-after-tax (PAT) for the half-year ended December 31, 2023. The company’s PAT surged by nearly 44%, reaching Rs69.78 billion compared to Rs48.49 billion in the corresponding period last year. The boost in profits was attributed to increased sales and substantial improvements…

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Pakistan Eyes $8 Billion IMF Loan, Explores Climate Finance Augmentation

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Amidst financial challenges, Pakistani authorities are actively considering options to enhance the upcoming IMF bailout package from $7.5 billion to potentially $8 billion. One avenue being explored involves leveraging Climate Finance in conjunction with the Extended Fund Facility (EFF). Official sources have disclosed to The News on Sunday that discussions regarding augmentation of the program’s size took place during the…

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SIFC Urges Nepra and PPIB to Resolve Jhimpir Wind Project Issues

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wind-energy

The Special Investment Facilitation Council (SIFC) Secretariat has intensified efforts to address bureaucratic hurdles faced by M/s TAEL in its Jhimpir wind power project. Sources reveal that SIFC has urged the National Electric Power Regulatory Authority (Nepra) and the Private Power and Infrastructure Board (PPIB) to swiftly resolve key issues hindering the project’s progress. During a meeting held on February…

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Qatar to Bolster Gas Production Despite Global Price Slump: Plans Expansion Amidst Fierce Competition

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New-RLNG

Despite a significant decline in global gas prices, Qatar remains steadfast in its commitment to increase gas production, setting forth plans for further expansion amidst intense competition, notably from the United States. Saad al-Kaabi, the chief of QatarEnergy, announced a new phase of expansion in liquefied natural gas (LNG) production, aiming to add an additional 16 million tonnes per annum…

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