Year: 2020

Gas crisis aggravates: Suspension of RLNG supply to export units on the cards

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ISLAMABAD: Fearing a massive surge in gas availability crisis in the country, the government has decided to even close down gas supply to export industry once a week if the emergency-like situation emerges in the month of January. The Petroleum Division is going to get it approved from the Economic Coordination Committee (ECC), which will meet on Wednesday (today), according to the summary, prepared by the Petroleum Division. However, the move, on the part of the Petroleum Division, has not only irritated the export industry but also Adviser on Commerce…

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Integrated diagnostics data advance infill development

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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

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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

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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

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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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