Nigerian Oil Major Focuses On Condensates To Offset OPEC Cuts

The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ production cut deal. Nigerian daily This Day quoted the managing director of the NNPC as laying out this plan, and noting a boost in condensates production should help push revenues higher. Whether condensates should be included in oil production figures when calculating OPEC’s production quotas has been a longstanding dispute. Nevertheless, Mallam Mele Kiyari also said Nigeria remained committed to…

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U.S. Puts Chinese Oil Giant CNOOC On Blacklist

The U.S. Department of Commerce said on Thursday it had blacklisted China’s state-run oil company CNOOC for helping China intimidate neighbors in the South China Sea, threatening U.S. national security, in yet another move aimed at restricting market access for Chinese companies. CNOOC was added to the Entity List, a tool utilized by Commerce’s Bureau of Industry and Security (BIS) to restrict the export, re-export, and transfer (in-country) of items to persons reasonably believed to be involved, or to pose a significant risk of becoming involved, in activities contrary to…

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Goldman Sachs Warns Of Bullish Perfect Storm For Natural Gas

Goldman Sachs has flipped on their bearish natural gas stance to a bullish one. Goldman’s Samantha Dart’s reasoning behind the view shift is due to a combination of factors including “supply disruptions, shipping delays, and strong LNG demand, supported by heavy nuclear maintenance in Japan and a cold start of the year in NE Asia, have significantly tightened the LNG market.” Prices of the supercooled fuel in especially Asia have reached astronomic heights in recent days. The most critical LNG markets are in Asia and Europe, which comes as a…

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Texas Gets $14 Billion In Taxes, Royalties From Oil & Gas In 2020

The Texas oil and gas industry paid a total of $13.9 billion in state and local taxes and state royalties in fiscal year 2020, the Texas Oil & Gas Association (TXOGA) said in its annual Energy & Economic Impact Report this week. The amount of taxes and royalties the state collected last year was lower than the record-high $16.3 billion in local taxes and state royalties in fiscal year 2019, when oil and natural gas production in the Lone Star State surged to records. “As challenging as last year was,…

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Sahiwal Power Plant Uses Advance Technologies To Control Emissions

BEIJING, (APP – UrduPoint / Pakistan Point News – 13th Jan, 2021 ) :In Pakistan, energy projects built hand-in-hand with China have involved meticulous considerations regarding emission controls and lowering the impact on the surrounding environment. As a major investment under the China-Pakistan Economic Corridor, the 1,320-MW coal-fired Sahiwal power plant provides around 6 percent of the total electricity supply in the country, according to Chinese media here on Wednesday. One important feature about the Sahiwal facility is that it uses advanced technologies to control emissions. “We were the first…

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Renewable energy initiatives

Islamabad : Our natural resources, especially gas is fast depleting and we need to act now keeping the projection of our future needs of energy in view, said Shah Jahan Mirza, Managing-Director, Pakistan Power & Infrastructure Board. He stated this while addressing at an inception meeting of Network for Renewable Energy Research and Advocacy on ‘Clean Energy Transition in Pakistan,’ organised here by Sustainable Development Policy Institute. Mr Mirza said that power and energy sectors in Pakistan are not in desirable shape. He said that the processes for private sector…

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Electricity generation: There’s plan to disconnect gas supply to industries

ISLAMABAD: Petroleum Division has reportedly prepared a plan to disconnect from February 1, 2021, gas supply to all industries that are currently using it as fuel for the primary purpose of electricity generation for self-consumption, well-informed sources told Business Recorder. Sharing details, SSGCL and SNGPL are engaged in transmission and distribution/sale of natural gas in the country. Except for a few dedicated gas consumers such as power plants/IPPs and fertilizer plants, gas to all other bulk consumers including power, fertilizer, industry, CNG, cement and residential consumers is supplied through the…

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The power blackout

The whole country went into a power blackout on Sunday night. This is a technical issue requiring serious investigation and a non-political discussion and debate. Blackouts have occurred in many countries in the past including the US, Brazil, Indonesia, Malaysia and India etc. The latest blackout in India was in 2012, on successive days on July 30 and 31, 2012 – affecting 300 million and 700 million people respectively. Overdrawing of electricity by certain Indian states and weak interregional transmission were cited to be the reasons. There are many reasons…

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Generating power from solid waste to be milestone

KARACHI: Secretary Local Government, Housing and Town Planning, Sindh, Najam Ahmad Shah has said the mission of generating electricity from solid waste will be a milestone. Najam Ahmad Shah, who is also head of the committee set up to generate electricity from solid waste, said the project to generate electricity from waste collected from Karachi was a modern and unique effort of the Sindh government and to bring it in line with global requirements all the resources would be utilised. He said the success of that project depended entirely on…

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Five years of successful operations: Engro Elengy Terminal sets new industry record

KARACHI: The first Liquified Natural Gas (LNG) terminal of Pakistan operated by Engro Elengy Terminal (EETL), a joint venture between Engro Corporation and Royal Vopak of the Netherlands, has set new industry records during its five years of safe and reliable operations to ensure energy security for Pakistan. Since the start of its operations in March 2015, EETL has completed the transfer of over 20 million metric tons of LNG by handling over 322 cargoes. This is the highest volume handled by any floating LNG terminal in this time frame.…

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