ISLAMABAD: Oil and Gas Development Company Ltd (OGDCL) posted a solid quarterly profit of Rs41 billion, despite citing an estimated Rs15 billion reduction in potential profit due to decisions from public-sector entities Mari Petroleum Company Ltd (MPCL), Sui Northern Gas Pipelines Ltd (SNGPL), and Uch Power Ltd. The board of directors, convening on Friday, reported net sales of Rs106.01 billion…
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ISLAMABAD: Despite strong opposition from Karachi’s business, trade, and political sectors, the National Electric Power Regulatory Authority (NEPRA) has approved a fuel cost adjustment (FCA) of Rs3.04 per unit for K-Electric customers for electricity consumed in July. This increase will be reflected in December bills, replacing the Rs3.17 FCA charged for June consumption currently reflected in October bills. Earlier, NEPRA…
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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…
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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,…
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Switzerland, known for its remarkable train network, is set to become the first country in the world to install solar panels across railway tracks like a “carpet.” The green light for this groundbreaking project has been given, and Swiss company Sun-Ways plans to begin installing solar panels on railway tracks in the Neuchatel region by spring 2025. The company, collaborating…
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GoodWe, a leader in solar inverters and energy solutions, has inaugurated its new global headquarters in Suzhou, China, underscoring its commitment to sustainability and innovation in renewable energy. This cutting-edge glass structure, designed to accommodate thousands of employees, serves as both a global collaboration hub and an exemplar of green building practices. “We are committed to creating workspaces that encourage…
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TEHRAN – Energy ministers of Iran and Pakistan met and held talks on the sidelines of the Third Belt and Road Ministerial Conference held in Qingdao, China. In this meeting, Abbas Ali-Abadi and Sardar Awais Leghari discussed future collaboration, particularly focusing on the development of electricity projects in border regions, IRNA reported. In this regard, Awais Leghari underscored the importance…
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The Board of Directors of OGDCL, in its meeting held on Friday, October 25, 2024, in Islamabad, announced the financial results for the quarter ended September 30, 2024. The company reported net sales revenue of Rs. 106.01 billion, with a profit after tax of Rs. 41.019 billion, translating to earnings per share (EPS) of Rs. 9.54.The Board announced a first…
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EV Sales Growth: EV Penetration Rate: China New Energy Vehicle (NEV) Sales Breakdown: Source: Michael Dunne Key Takeaways:
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KARACHI: The National Electric Power Regulatory Authority (Nepra) on Tuesday hiked the per unit price of electricity by Rs3.76 per unit on account of quarterly fuel adjustment. According to a notification issued by the power regulator, the increase will be applicable for three months this year — June, July and August. As a result of the latest hike in electricity…
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