Oil and Gas Development Company’s (OGDC) profit fell 14% to Rs23.4 billion in the quarter ended September 30, 2020 due to a massive drop in oil prices in the international market. According to a notice sent to the Pakistan Stock Exchange on Thursday, the company had reported a profit of Rs27.3 billion in the same period of last year. Accordingly,…
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HYDERABAD: Federal Energy Minister Omar Ayub on Wednesday announced that Pakistan is planning to lay down a new gas pipeline with the cooperation of Russia. While announcing that gas reservoirs of the country are witnessing a fast decline, he blamed the PPP and PML-N for doing nothing during their previous tenures for tackling the situation. “They did not sign any tender…
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Shell Pakistan Limited (‘SPL’) has announced the financial results for Q3 2020. The company posted an after-tax profit of Rs. 1.81 billion, which is 218% or 2.18x higher as compared to the profit of Rs. 570 million in the same period last year. Overall, during the nine months of 2020, the company reported a loss of Rs. 6.06 billion, up…
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A continued investment in the technology sector often distinguishes developed nations from developing nations. An increased focus on this sector not only yields positive dividends on growth but also facilitates headway on the development front. This is why countries – like China – which house an overwhelming proportion of the competitive high-tech industry enjoy long-term economic prosperity in the wake…
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China’s aggressive policy of planting trees is likely playing a significant role in tempering its climate impacts. An international team has identified two areas in the country where the scale of carbon dioxide absorption by new forests has been underestimated. Taken together, these areas account for a little over 35% of China’s entire land carbon “sink”, the group says. The…
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A team of University of Arkansas physicists has successfully developed a graphene circuit that could produce clean limitless energy. The new system works by capturing graphene’s thermal motion and transforming it into an electrical current. RELATED: NOVEL ULTRAFAST BATTERY BASED ON GRAPHENE CHARGES IN 15 SECONDS “An energy-harvesting circuit based on graphene could be incorporated into a chip to provide…
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A wedding and birthday party in suburban New York turned into two Covid-19 “superspreader” events that infected more than 50 people and left nearly 300 in quarantine, officials said. “This kind of blatant disregard for the well being of others is not only extremely disappointing, it will not be tolerated,” Suffolk County Executive Steven Bellone said at a news conference…
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Wah Nobel Group of Companies, a multinational concern, established in 1962 is a Joint Venture between Pakistan Ordnance Factories through Wah Industries Ltd,SAAB AB, Sweden and Almisehal Company, Saudi Arabia, has inked Memorandum of Understanding with an over 100 years old Company, Sheikh Zia-ul-Haq & Sons (Pvt)Ltd, for setting up of an Electric Vehicles and Electric Batteries Manufacturing / Assembly…
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Solar energy already powers almost everything on Earth — including us. Fossil fuels, hydropower, wind — to a large extent, all of these so-called energy sources rely on stored energy that ultimately came from good old Sol. Converting the sun’s rays directly into electricity avoids the carbon emissions and many of the other environmental problems associated with other forms of…
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ISLAMABAD: As the Auditor General of Pakistan (AGP) claimed to have made Rs177 billion recoveries in first quarter of the current fiscal year, the Power Division on Tuesday called into question the publication of audit reports before conclusive decision by the Public Accounts Committee (PAC). “The AGP made recoveries of Rs176.9bn during first quarter (July-September) of 2020-21”, said an official statement. The…
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