PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Ltd (PPL), has reached an amicable $6 million settlement with Midland Oil Company (MdOC), a state-owned Iraqi oil entity, for Block-8 in Baghdad. This settlement marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8 in Iraq, which expired in May 2022. PPL, in a stock filing
The Competition Commission of Pakistan (CCP) has approved the acquisition of 100 per cent equity shares of the National Security Printing Company Ltd (NSPC) by Pakistan Security Printing Corporation (Pvt) Ltd (PSPC), marking a pivotal step in the reorganisation of Pakistan’s security printing sector. PSPC, a wholly-owned subsidiary of the State Bank of Pakistan (SBP), is entrusted with printi
Oil rose above $80 on Monday on Middle East tensions while equities slid in New York as political and interest rate concerns dented the recent rally. Brent North Sea crude, the international benchmark oil contract, went above $80 per barrel for the first time since late August. Oil futures have experienced recent volatility, with Brent slumping under $70 last month on concerns about weak dem
With an operational generation capacity of 3,262 megawatts, Pakistan has increased the share of electricity from nuclear power plants to a record 17.4 per cent in 2023 from 16.2pc in 2022, according to the World Nuclear Industry Status Report (WNISR) 2024. The report financed by German Federal Office for the Safety of Nuclear Waste Management, Friedrich Ebert Foundation, Heinrich Böll Foundatio
Banks have been unable to utilise surplus liquidity as the federal government seems to have discontinued borrowing for now while the private sector is still reluctant to enter the money market, banking experts said on Monday. Even though the federal government has been the biggest borrower of banking money, it has refrained from doing so after an injection of Rs2.7 trillion liquidity by the Sta