Year: 2020

Mari Petroleum appoints MD

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Faheem Haider has been appointed as new managing director/CEO of Mari Petroleum Company Limited (MPCL). He will assume his duties from August 12, 2020. Haider comes with a rich background and experience of exploration and production sector. In his illustrious career of over 27 years, he has held various leadership and staff positions with Union Texas Petroleum Inc Karachi, Nutricon Union Ltd Islamabad, OMV Exploration GmbH Islamabad, Helix RDS Ltd, Aberdeen BG Group, (Oman) and Neptune Energy (Cairo, Paris, London). He possesses sound knowledge and experience of exploration and production…

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Russia’s Oil Product Exports To The U.S. Jump To 16-Year High

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Russia’s exports of petroleum products to the United States more than doubled in the first half of 2020 compared to the same period last year, reaching their highest levels since at least 2004, Russian outlet RBC reported, citing Russian customs data. Russia’s oil products exports to the U.S. jumped to 9.1 million tons between January and June 2020, up from 4 million tons for the same period in 2019. The U.S. was Russia’s second-largest buyer of oil products – accounting for 12 percent of Russia’s petroleum products exports – after…

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Demand Crash Hit U.S. Refiners With Surging Biofuel Blending Costs

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U.S. refiners are feeling the pinch not only from the lower fuel demand, but also from the surging costs for complying with the biofuel requirements as refining and blending activity is lower than usual. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline and diesel. Refiners that don’t have the infrastructure to blend biofuels must purchase tradeable blending credits known as Renewable Identification Numbers, or RINs. Because of the slump in demand, blending activity has been lower than what is…

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Eastern Libya Sees Power Outages As A Result Of Oil Blockade

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The closure of oil ports in the Gulf of Sirte is the main reason for the power outages in eastern Libya, the National Oil Corporation (NOC) says. “By closing the ports in the Gulf of Sirte, the condensate reservoirs at the export ports will be filled within days, and thus the production of the gas associated with the condensate, which feeds Zueitina power stations and north of Benghazi, will come to a halt,” NOC chairman Mustafa Sanalla said, as carried by The Libya Observer. A few days ago, Sanalla warned…

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Electricity ‘beamed’ to homes could do away with wire transmission cables

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A Kiwi technology start-up hopes its long-range wireless power transmission system will herald a brighter, cleaner future. Emrod has developed a system which converts electricity into electro-magnetic waves that can be sent wirelessly to receivers to be converted back into electricity for use in homes and businesses. In the long-term, founder Greg Kushnir believes the technology could reduce humanity’s dependence on oil by making electric air travel and shipping possible. In the shorter-term, it’s being earmarked to deliver power to remote New Zealand homes and island communities, and to provide…

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