Month: December 2020

Saudi Arabia’s crude oil exports rose to 6.159 million barrels per day (bpd) in October, up by nearly 100,000 bpd from the 6.066 million bpd exports in September, data from the Joint Organisations Data Initiative (JODI) showed on Thursday. Total oil exports from Saudi Arabia, including crude oil and total oil products, increased again month over month by 281,000 bpd to 7.38 million bpd in October, according to the JODI database, which collects self-reported figures from 114 countries. In September, the world’s biggest oil exporter, Saudi Arabia, exported more than…

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Things are looking up for the Canadian oil sands. After years of strife and faltering profits, battered by environmental regulations and domestic pipeline shortages as well as the flood of cheap shale oil and gas coming out of the United States thanks to the West Texas shale revolution, 2021 is on track to be a much, much better year for Canadian oil. While pretty much any and every oil-producing nation in the world has had a less-than-stellar year, to put it mildly, few have had it as bad as Canada.…

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The United Kingdom will end direct government support to oil, gas, and coal project overseas as soon as possible, as part of the country’s ambition to support the energy transition, UK Prime Minister Boris Johnson said over the weekend. Ending taxpayer support for overseas fossil fuel projects is a major shift in policy, considering that the UK government has supported US$28 billion (£21 billion) worth of UK oil and gas exports through trade promotion and export finance over the past four years alone. The decision to end direct government support…

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The report by a five-member commission set up by the prime minister in July to look into the oil crisis, which hit the country in June this year, does not make for pleasant reading. The report which has been made public blames Ogra, the Ministry of Petroleum, private oil companies and others involved in the delicate business of purchasing and regulating oil, for the crisis. As Geo TV has been repeatedly reporting and highlighting, notably in its show hosted by Shahzeb Khanzada, the oil crisis began when global prices fell…

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ISLAMABAD: The Central Development Working Party (CDWP) has approved one project at the cost of Rs7.25 billion, and five position papers at the cost of Rs21.10 billion, and referred two position papers worth Rs37.23 billion to the Executive Committee of the National Economic Council (Ecnec) for final approval. The CDWP met with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan at P Bock Secretariat on Wednesday. Secretary Planning Mathar Niaz Rana, senior officials from the Planning Commission and federal ministries/divisions also participated in the meeting, while representatives from the provincial governments…

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