Month: November 2020

Petroleum Division looks to split gas utilities

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ISLAMABAD: With imported gas burdening state-run gas utilities, the Petroleum Division is now seeking the go-ahead from the Cabinet Committee on Energy (CCoE) for appointing a transaction adviser to split the utilities facing higher losses on account of unaccounted for gas (UFG). Sui Northern Gas Pipelines (SNGPL) and Sui Southern Gas Company (SSGC) are facing UFG of 11-17%, which is much higher than international standards. According to the Petroleum Division, the two companies face a cumulative loss of Rs50 billion every year due to theft and gas leakage. Now, the…

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Power Mapping brings Rapid Reliable Energy to Rural Communities

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Mapillary is teaming up with YouthMappers, researchers at Arizona State University, the OSM chapter in Sierra Leone, and other partners to map fundamental spatial features that speed up efforts to design and install mini-grids in rural areas. By understanding settlement patterns, road networks, and existing electrical grid infrastructure, the team can speed up and scale up approaches to design mini-grids for rural electrification. Sierra Leone, on the coast of West Africa, has a vast landscape connected by many roads leading to communities where most of the country’s population reside. Access…

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Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028

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Slower demand growth due to the pandemic and a drop in global oil supply due to low investments could result in peak oil demand 2-3 years sooner than an earlier view that demand will peak around 2030, Norway’s energy giant Equinor said on Tuesday. The oil and gas major, which has just announced its ambition to become a net-zero energy business by 2050, following other major European companies in this pledge, said in its annual Energy Perspectives report that the pandemic and its effect on the way people work and…

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COVID-19 Takes Major Toll On Australian Oil & Gas Jobs

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The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing a loss of over 28,000 jobs this year, equivalent to a quarter of the country’s total count, a Rystad Energy analysis reveals. Some of these jobs will be restored from 2021 onwards, but Australia’s oil and gas workforce will struggle to recover pre-pandemic levels for at least five years – if ever, as the energy transition increasingly alters the global energy mix. In 2019, Australian oil and gas jobs numbered just over 110,000, a tally slashed by…

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Oil Markets See Light At The End Of The Tunnel

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Oil prices rose on Monday and remained steady on Tuesday morning as markets are cautiously looking beyond the COVID-19 pandemic Chart of the Week The EIA forecasts U.S. oil production remaining flat through the end of 2021. Production topped out at 12.9 mb/d (on a monthly basis) in November 2019, before falling to 10 mb/d by May 2020. Production rebounded to 10.6 mb/d by August. But with global demand unable to rebound to pre-pandemic levels until 2022 at the earliest, U.S. production will be unable to increase dramatically. Market Movers Devon Energy…

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