Pakistan Petroleum Limited (PPL) has reported a significant 24% decrease in its profit after tax (PAT) for the quarter ending September 30, 2024. PPL’s PAT fell to Rs22.69 billion, compared to Rs29.76 billion during the same period last year, as the company contends with reduced sales and increased operational expenses.
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You can go through stories related to energy. The stories are about changes in petroleum prices and updates on energy sector of Pakistan and world.
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Pakistan to Adjust Petroleum Prices for 1st Half of November 2024
Islamabad, October 29, 2024 — In response to shifting dynamics in global oil markets, Pakistan will adjust domestic petroleum prices for the first half of November 2024, with changes set to take effect on November 1. Despite a global downturn in oil prices, sources indicate that the country’s petrol and high-speed diesel (HSD) prices will see a nominal increase, potentially rising by up to 78 paisa per liter.
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PSO Reports Rs 15.9 Billion Profit for FY24, Declares Dividend
Karachi, October 25, 2024 – Pakistan State Oil (PSO) has announced a profit after tax of Rs 15.9 billion for the fiscal year ending June 30, 2024, marking a significant achievement for the state-owned energy giant.
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OGDCL Begins Oil and Gas Production from Sanghar District
Islamabad, October 24, 2024 – Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has successfully commenced oil and gas production from its exploratory well Baloch-2, situated in the Sanghar district of Sindh.
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Lucky Cement Completes 28.8 MW Captive Wind Power Project
Karachi, October 22, 2024 – Lucky Cement Limited has successfully completed and commissioned its 28.8 MW captive wind power project at its Karachi plant, marking a major milestone in Pakistan’s renewable energy sector. The project, completed on schedule and within budget, officially began operations on October 22, 2024.
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Updated Petroleum Prices in Pakistan from October 16, 2024
ISLAMABAD, October 16, 2024 – In a significant move, Pakistan has announced a revision in petroleum prices, marking the second adjustment for October. This revision comes as part of the government’s ongoing effort to align domestic fuel prices with fluctuating international market rates. The new prices take effect from October 16, 2024.
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PPL Commences Oil and Gas Production from Adhi South-9
Karachi, October 14, 2024 – Pakistan Petroleum Limited (PPL) has successfully commenced oil and gas production from its new development well, Adhi South-9, located within the Adhi Mining Lease. This marks a significant step in the company’s ongoing efforts to boost the country’s domestic oil and gas output.
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PM Shehbaz Announces Termination of Agreement with Five IPPs
Islamabad, October 10, 2024 – In a decisive move, Prime Minister Shehbaz Sharif on Thursday announced the termination of power purchase agreements with five Independent Power Producers (IPPs), a landmark decision aimed at alleviating the financial burden on the nation’s electricity consumers.
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Cabinet Approves ISMO Setup for Low-Cost Electricity
Islamabad, October 9, 2024 – In a transformative step towards revolutionizing Pakistan’s electricity market, the Cabinet Committee on Energy has officially approved the establishment of an Independent System and Market Operator (ISMO).
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PPL Reaches Momentous Settlement with Iraqi Oil Company
Karachi, October 7, 2024 – Pakistan Petroleum Limited (PPL) has disclosed the successful conclusion of a long-standing contractual matter with Midland Oil Company (MdOC) of Iraq, culminating in a strategic settlement agreement concerning Block-8 in Iraq.
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