Integrated diagnostics data advance infill development

Integrated diagnostics is a well-known term in the medical profession. A doctor’s role is to combine blood pressure, MRI scans, and clinical observations into a proper assessment of the patient’s condition and subsequently advise on treatment. For a proper diagnosis, it is essential to analyze all available data in an integral way. Ideally, the oil and gas industry’s approach to data should not be any different. Large-scale data accumulation is becoming more common in shale development. However, the industry struggles with a data dilemma. On the one hand, operators know…

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Iran Cuts Power Supply To Iraq On Unpaid Debt

Iran has reduced exports of natural gas to its neighbor Iraq claiming the latter owed it more than $6 billion for supplies already made. The cuts were made two weeks ago, and further cuts will be made, Iranian officials said. “The Iraqi electricity ministry owes more than $5bn to NIGC for gas imports from Iran,” the National Iranian Gas Company said, as quoted by Argus, adding, “Of this, $3bn is blocked and inaccessible in the [state-owned] Trade Bank of Iraq, and more than $2bn has not even been released yet by the…

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Oil Prices Continue Climb On Large Crude Draw

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.785 million barrels for the week ending December 25. Analysts had predicted an inventory draw of 2.100 million barrels for the week. In the previous week, the API reported a build in oil inventories of 2.70-million barrels, after analysts had predicted a draw of 3.135 million barrels. Both Brent and WTI were up on Tuesday morning before the data release on hopes of a larger round of stimulus checks signed off on by President Donald…

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UAE-Based Firms Help Venezuela’s Oil Exports To Skirt U.S. Sanctions

Little-known shipping companies registered in the United Arab Emirates (UAE) have been shipping Venezuelan crude oil in breach of the U.S. sanctions on Nicolas Maduro’s regime, Reuters says in a special report on Tuesday. The companies Muhit Maritime, Issa Shipping FZE, and Asia Charm Ltd, all registered in two free zones in the UAE, have transported nearly 4 percent of Venezuela’s total crude oil and fuel exports so far this year, according to Reuters estimates based on internal shipping documents of Venezuelan state oil firm PDVSA, tanker tracking data from…

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Oil Jumps On Significant Crude Inventory Draw

Crude oil prices rose further today after the Energy Information Administration reported an oil inventory draw of 6.1 million barrels for the week to December 25. A day earlier, the American Petroleum Institute also helped boost prices by estimating a crude oil inventory decline of 4.785 million barrels for the same week. Last week, the EIA had estimated a modest inventory decline, to the tune of 600,000 barrels, which nevertheless helped prices continue higher as it coincided with positive vaccine updates that traders linked to an anticipated demand improvement next…

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Bhutta Appointed chairman of PPIB, AEDB boards

ISLAMABAD: The Federal Cabinet has appointed Secretary Power Division, Ali Raza Bhutta as Chairman of the Boards of Private Power Infrastructure Board (PPIB) and Alternative Energy Development Board (AEDB), as Minister for Power, Omar Ayub Khan has tendered his resignation as ex-officio Chairman of the Boards, official sources told Business Recorder. Sources said that Power Division informed the Cabinet on December 22, 2020 that the Minister for Energy, referring to his discussion with the Federal Minister for Law and Justice Division during a Cabinet meeting, had tendered his resignation from…

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LNG scam: NAB opens new inquiry against Khaqan Abbasi

ISLAMABAD: The National Accountability Bureau (NAB) has started another inquiry against former prime minister Shahid Khaqan Abbasi in an alleged multi-billion LNG scam. The bureau served a notice on Abbasi on Tuesday, asking him to appear before its investigation team on Jan 10, 2021. “The inquiry has revealed that you [Abbasi] remained minister for Petroleum and Natural Resources and prime minister of Pakistan, involved in selection and appointment of Adnan Gilani to Pakistan LNG Limited as chief operating officer and subsequently as chief executive officer during 2013-2018 period, which related…

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11 Wind Project Likely To Start Supplying 660 MW By Dec 2021

Around 11 wind projects with cumulative capacity of 660 MW had already achieved financial closing and are likely to start generation by December 2021. Sharing the details of these projects, official sources told that these were included 50 MW Master Green Energy Ltd, 50 MW Tricom Wind Power Pvt Ltd, 50 MW Lakeside Energy Pvt. Ltd, 50 MW Artistic Wind Power Ltd and 50 MW Liberty Wind Power 1 Pvt Ltd. Similarly, 50 MW Indus Wind Energy Ltd, 50 MW Master Green Energy Ltd, 50 MW ACT2 Wind Pvt Ltd,…

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Check-Posts Against white collar crimes

First, the medicine prices went through the roof. Next, it was the turn of Atta (wheat flour) and sugar prices, followed by “artificial shortage” of oil at a time when there was a global glut of oil as demand fell because of Covid-19. Shortage of gas has made the winter doubly unbearable and rising cost of power is having a disruptive influence on the overall economy. And the burgeoning circular debt has turned into a perennial problem with the government seemingly having no idea how to control it. Meanwhile, smuggled…

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Pakistan, Russia to establish North-South gas pipeline project

Islamabad – Pakistan and Russian Federation have agreed to establish a special purpose company, namely Pakistan Stream Pipeline (Pvt.) Ltd for the execution of North-South gas pipeline project, it is learnt reliably here. The matters pertaining the new company and the start of execution work was discussed on December 23, 2020, during the second meeting of the Joint Russian-Pakistani Technical Committee for the implementation of the North-South gas pipeline project held in via video conference. The Russian side of was headed by the Director of the Department of International Cooperation…

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