Month: May 2020

Shell wants to create a green hydrogen hub in the port of Rotterdam

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Hot on the heels of last month’s announcement to become a net zero energy business by 2050, Shell has today revealed its intention to create a green hydrogen hub in the port of Rotterdam, using green electricity generated by wind power. Expected to go into operation by 2023, the green hydrogen plant will produce about 50,000-60,000kg of hydrogen per day and have a capacity of around 200MW. It will be constructed at a dedicated industrial site realised by the Port of Rotterdam Authority at Maasvlakte for electrolysers operated by various…

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Govt slashes RLNG prices by up to 21.6pc for May

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ISLAMABAD: The government on Thursday reduced price of re-gasified liquefied natural gas (RLNG) for May 2020 by 21.63 percent for Sui Northern Gas Pipelines Limited (SNGPL) and 18.9 percent for Sui Southern Gas Company (SSGC) over the previous month following a sharp decline in international crude oil price. The Oil and Gas Regulatory Authority (OGRA) notified the RLNG prices by setting the new prices at $7.5105/mmbtu for the consumers of SNGPL and $7.7521/mmbtu for Last month, the RLNG price for SNGPL was $9.5834/mmbtu and for SSGC, it was $9.5582/mmbtu. In…

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Adverse impact of Covid-19: Refineries seek deferment of monthly PDL payment for six months

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ISLAMABAD: Pakistan’s five refineries have braved mammoth inventory losses of Rs25.849 billion in just two months of March and April 2020 due to Covid-19’s adverse impact on oil industry across the world and more damage is also on the cards in the next two months of May and June, 2020. The refineries also told the government if they were not compensated, their survival will be at stake. “The refineries that include the Attock Refinery Limited (ARL), National Refinery Limited (NRL), Pakistan Refinery Limited (PRL), Pak-Arab Refinery Company (PARCO) and BYCO…

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Argentina considers $45/bbl floor price for domestic crude

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BUENOS AIRES (Bloomberg) –West Texas Intermediate has been gaining since its history-making crash in the U.S. last month, trading at around $25. Brent crude has been practically soaring, touching $30 in London. They can’t match the criollo barrel in Argentina, though — $45 guaranteed, no matter what. That dream price doesn’t actually exist, but it could soon. The administration of President Alberto Fernandez has circulated a proposal to set $45 as the per-barrel mandate in a bid to keep the domestic drilling business alive and sustain development of the vast…

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