January 2021
Day: January 19, 2021
IEA says oil, gas methane emissions down 10% in 2020 as output fell
LONDON – Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found. Methane has more than 80 times the warming potential of carbon dioxide in its first 20 years in the atmosphere and is liable to leak from oil and gas infrastructure, such as pipelines. Other industries, including agriculture, are also big methane emitters. Last year, oil and gas operations emitted over 70…
Read MoreHow Pakistan lost $6 billion on a gold mine
PESHAWAR – Pakistan’s US and France based real estate assets are at risk of confiscation as a United Kingdom court moves to enforce an arbitration tribunal decree that fined it US$5.9 billion for retracting a 28-year old gold exploration contract with foreign mining companies. This month, a British Virgin Islands’ court-ordered to establish a value on the Roosevelt Hotel in New York and the Scribe Hotel in Paris as part of an attachment process of the properties owned by Pakistan International Airlines Investment Ltd (PIAIL), a state-run company officially registered…
Read MoreFEATURE: UAE juggling energy transition, eking out profit from oil and gas
Dubai — The UAE’s juggling of energy transition and plans to eke out more profit from oil and gas projects has left it trying to secure a role in future crude demand scenarios while appeasing investors looking to combat climate change. As OPEC’s third largest producer, the UAE has commitments as a member of the alliance but it is also pursuing its own agenda to speed up production of oil reserves before peak demand becomes a reality. Abu Dhabi National Oil Co, the UAE’s biggest energy producer, is accelerating exploration and…
Read MoreAmid LNG availability crisis: Petroleum Division asked to restart JJVL LPG extraction plant
ISLAMABAD: Amid the impending LNG availability crisis in February, 2021 on account of backing out by UAE based LNG supplier (ENOC) of its commitment to provide an LNG vessel next month, the top management of Jamshoro Joint Venture Limited (JJVL) has asked the Petroleum Division (PD) to comply with the ECC decision by letting its LPG extraction plant resume operation. “Once JJVL’s LPG extraction plants comes on stream, it will start catering to the energy needs of over 750,000 homes across Pakistan. And this will also help contain the increasing…
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