Libya’s oil production that has dropped sharply in recent months is set to nearly halve in the coming years thanks to an oil blockade that has been in force since January. Libya’s production has dropped from 1.186 million bpd last November to 796,000 bpd by January 2020, before slipping to 82,000 bpd in June, according to OPEC’s Monthly Oil Market…
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The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast last month. In its Short-Term Energy Outlook (STEs expectation that global oil inventories will continue to decline in the second half of the year and throughout next year. “EIA expects…
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The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw of 3.114 million barrels. In the previous week, the API reported a major decrease in crude oil inventories of 8.156 million barrels, after analysts had predicted a much smaller build.…
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KARACHI: Pakistan has resumed spot buying of liquefied natural gas (LNG) from the international market after six-month pause as energy demand is ramping up with easing lockdown, it was learnt on Monday. State-run Pakistan LNG Limited (PLL) invited bids for supply of three LNG cargoes – 140,000 cubic meters each – to be delivered in August and September. PLL invited…
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Former Managing Director (MD) of Pakistan State Oil (PSO), Shahidul Islam has been declared an offender by the Accountability Court for his continuous absence in the LNG scam case that also involves former Prime Minister Shahid Khaqan Abbasi. According to details, the decision was taken after the NAB prosecutor apprised the court that the accused has left the country to…
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Dominion Energy, one of the nation’s largest utilities, in late June erected wind turbines off the Virginia coast — only the second such installation in the United States — as part of a big bet on renewable energy. The company is also planning to build new power plants that burn natural gas. Utilities around the country are promoting their growing…
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Books can be written on the inefficiencies, incompetence, and irregularities in Pakistan’s energy sector. The PMLN regime tried to address sectoral deficiencies by launching plethora of base-load plants to match the peak load without giving any consideration to heightened capacity charge, transmission, or distribution constraints. Now that the power plants have been commissioned, power generation capabilities are higher than peak…
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Hundreds of scientists say there is evidence that the novel coronavirus in smaller particles in the air can infect people and are calling for the World Health Organization to revise recommendations, the New York Times reported on Saturday. The WHO has said the coronavirus disease spreads primarily from person to person through small droplets from the nose or mouth, which…
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London’s Imperial College estimates that COVID19 pandemic in Pakistan is “on course to fade out”, a testimony to Prime Minister Imran Khan’s government’s effective handling of the the ongoing global health crisis. At just 0.74, the effective coronavirus reproduction rate (Rt) in Pakistan is among the lowest in the world. An Rt of less than 1 indicates each infected person…
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The report also highlighted irregularities worth Rs. 273 million in 21 human resource/employee-related cases. Besides this, irregularities of Rs. 107,328 million in 64 cases related to civil/electrification works, procurement of electrical equipment, consultancy services, and contractual mismanagement were reported. An amount of Rs. 63 billion was discovered in 108 cases related to violation of internal rules and regulations of audited…
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