Month: December 2020

Blame game mars issuance of licences for new LNG companies

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ISLAMABAD: The new private sector companies seeking entry into liquefied natural gas (LNG) business without government guarantees appeared to be moving in circles as the public sector stakeholders blamed each other for uncertainties relating to enabling environment and infrastructure. This was the overriding sense of a public hearing conducted by the Oil & Gas Regulatory Authority (Ogra) on the request of Tabeer Energy and Energas for marketing licences for the sale of LNG. Both applicants said they had their own customers in the private sector and would arrange LNG imports…

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Govt to grant LNG terminals’ capacity to private sector

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ISLAMABAD: In a major move to gradually deregulate gas tariffs, the state-run liquefied natural gas (LNG) importer on Thursday expressed intention to grant capacity to the private sector – a decision that had so far been pending due to acquisition of surplus capacity of LNG terminals by the government. A representative of Pakistan LNG Limited (PLL) said they could not award any capacity due to the public sector’s high gas demand. The government will re-advertise the granting of capacity to the private sector in February or March 2021, the official…

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10th Fire Safety & Security Convention-2020

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Sindh Govt to take emergency corrective measures to overcome worrisome shortage of fire tenders, firemen in Karachi: LG MinisterKarachi: Sindh Information and Local Government Minister Syed Nasir Hussain Shah has said that the provincial government is taking emergency corrective measures to repair the faulty fire engines and overcome the shortage of staff being faced by the Karachi’s fire brigade.“I recently visited the Central Fire Station near Civil Hospital and came to know about the worrisome situation that only 14 fire tenders out of total 44 are operational in Karachi while…

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Bankruptcy Hit U.S. Oil Producers To Lose Quarter Of Production In 2021

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As Chapter 11 filings by US E&Ps continue to pile up, onshore oil production from companies that filed for bankruptcy in the last two years is set to decrease by about 25% by the end of 2021, or by about 200,000 barrels per day (bpd) compared to current output levels, a Rystad Energy analysis shows. The loss puts the projected nationwide production growth for 2021 at risk of being offset. Operated oil production from the recent Chapter 11 filings is heavily weighted in the Eagle Ford and Bakken regions, at…

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Trafigura Sees Oil At $60 Thanks To Vaccines

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Commodity trading giant Trafigura expects a strong rebound in oil demand next year thanks to mass vaccinations, which will push crude oil prices to $55-60 a barrel, Argus Media reported, citing the company’s chief economist Saad Rahim. “You have already seen a strong recovery in many places — certainly in China, but also in Europe and Japan, for example. The United States is lagging in some parts, but I think we can see some stronger momentum. India had taken a major hit, but the momentum there is also looking strong,” Rahim told Argus.…

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