The port city of Hai Phong in Vietnam has approved a liquefied natural gas (LNG) project for power generation, expected to be developed by U.S. supermajor ExxonMobil and to cost US$5.09 billion. The people’s committee of the city of Hai Phong approved the project which is expected start electricity generation in 2026 or 2027, Reuters reported on Friday, citing a…
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Russia produced an average of 9.93 million bpd of crude oil and condensates last month, a little above its OPEC+ quota but still down 11.8 percent on the year, Interfax reported today, citing data from the Energy Ministry. Production of oil and condensates over the first nine months of the year averaged 10.35 million bpd, down by 7.8 percent on…
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Hurricane Laura, which stormed through the U.S. Gulf of Mexico at the end of August, forced shut-ins of an estimated 14.4 million barrels of crude oil during the two weeks of shut-down rigs—the largest production loss from a hurricane in the Gulf since Hurricanes Gustav and Ike in 2008, the Energy Information Administration (EIA) said on Friday. According to data…
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A month before the U.S. presidential election, the oil industry’s most powerful lobbying group, the American Petroleum Institute (API), is launching ads in a number of swing states, saying in one ad that “extreme environmental proposals” like a ban on new leases on federal land – a proposal of Joe Biden – could cause hundreds of thousands of Americans to…
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Both the President and First Lady of the United States have tested positive for COVID-19 on a day when Brent oil prices crash below $40 and the U.S. rig count climbed. Crude prices fell on Friday following news that President Donald Trump tested positive for the coronavirus. Broader equities also tumbled. As of midday trading, Brent was down more than…
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Karachi is suffering under double load-shedding-Electricity and Gas. Both companies are blaming each other. Karachi, being on the coast, should not have had gas problems, but for its gas company. Northern Pakistan would have additional problem of lack of pipeline, even if additional gas is made available either through imports or local production. There is a popular demand of ending…
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Advancing the discussion from June 2020, the International Renewable Energy Agency (IRENA) held its second meeting of the Collaborative Framework on Hydropower. With more than 100 attendees from 49 Members and States in Accession, the virtual meeting witnessed a high level of engagement to take advantage of the knowledge and expertise that exists within the Agency and its global Membership.…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Wednesday completed hearing on a petition filed by Central Power Purchase Agency (CPPA) on behalf of ex-WAPDA power distribution companies for 98 paisa per unit increase for August under monthly fuel adjustment mechanisms. The power regulator decided to give a decision after verification of data provided by CPPA. The decision would…
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ISLAMABAD: The Advisor to Prime Minister on Finance Abdul Hafeez Shaikh has approved plan for golden handshake to the employees of the state-owned Pakistan Steel Mills (PSM), citing sources, ARY News reported on Wednesday. The plan was approved by PM’s aide on finance Abdul Hafeez Shaikh while chairing the meeting of Economic Coordination Committee (ECC) to discuss a six-point agenda today. The…
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The former chief executive officer of K-Electric Tabish Gauhar has been appointed as the Special Assistant to Prime Minister (SAPM) Imran Khan on Power. According to a notification issued today by the Cabinet Division, said that the PM has been pleased to appoint Tabish Gauhar as Special Assistant to the Prime Minister on Power with immediate effect. The notification added…
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