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Stocks fall on economic red flags July 10, 2021 Stocks shed a good deal of gains made a day earlier as an anaemic economic outlook coupled with a global rout sent investors fleeing to safety, traders said. KSE-100 Share Index lost 489.72 points or 1.02 percent to close at 47,563.45 points at Pakistan Stock Exchange (PSX). The index oscillated between a high of 48,053.17 points and a low of 47,546.01 points. Ahsan Mehanti, analyst at Arif Habib Corp said the losses were led by scrips across the board on concerns over weak economic outlook. Weak global equities, rupee instability, uncertainty on EU GSP plus status on human right issues, concerns over non-disbursement of $400 million World Bank loan delayed because of weak IMF ties shook investor sentiment, Mehanti said. ....
Despite drop in production from Makhori Deep by 37pc and 14pc in Mardankhel, the total oil production during FY21 soared to 75,575 barrels per day (bpd) from 60,993bpd in FY20. Dawn/File KARACHI: Pakistan’s oil production swelled by 24 per cent in FY21 while the gas output shrank by 2pc during the year. Despite drop in production from Makhori Deep by 37pc and 14pc in Mardankhel, the total oil production during FY21 soared to 75,575 barrels per day (bpd) from 60,993bpd in FY20 while gas production slightly fell to 3,511mmcfd from 3,589mmcfd in FY20. According to Shankar Talreja of Topline Securities, the country’s oil production in 4QFY21 was down by 3pc QoQ to 74,700bpd as decline was visible in nearly all major fields like Nashpa, Adhi, Makori East, Maramzai, Chanda, Mardankhel and Makori Deep (to the tune of 2-17pc). ....
Gas production down, oil output up in FY2021 July 10, 2021 KARACHI: Gas production was marginally down to 3.51 million metric cubic feet per day (mmcfd) during the last fiscal year compared to 3.58 mmcfd a year earlier while annual oil output increased 24 percent to 75,575 barrels per day, according to a brokerage report. Overall, it declined two percent from 1.3 mmcf to 1.28 mmcf, a Topline Research report said on Friday. The biggest declined in production of 17 percent from Kandhkot, followed by 13 percent in Qadirpur, and 4 percent in Kunar Pasakhi Deep, the brokerage said, citing official data. Gas output from Mari, however, increased 7 percent and from Nashpa the growth was 8 percent. ....