PLL finalises bids for 8 LNG cargoes

KARACHI: Pakistan LNG Limited (PLL) has finalised lowest bids ranging from $6.7/mmbtu to $6.925/mmbtu for eight LNG cargoes to be delivered during April to June 2021, a statement said on Tuesday. It was the first time PLL invited bids on fixed dollar rates instead of percentage of Brent, as was the practice. PLL had received a total of 42 bids for the advertised seven deliveries, it said. “Eni SpA will deliver one consignment on April 30, another consignment on May 26-27 and one more on June 18-19, 2021 at the…

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Eni agrees LNG, gas deal with Zhejiang Energy as China switches to cleaner fuels

On Monday a study showed China generated 53% of the world’s total coal-fired power in 2020, nine percentage points more than five years earlier. China has promised to reduce its dependence on coal and bring emissions of climate-warming greenhouse gas to a peak before 2030 and become “carbon neutral” by 2060. MILAN: Italy’s Eni has agreed a long term liquefied natural gas (LNG) supply agreement with Zhejiang Energy as China seeks ways to cut carbon emissions by encouraging a switch from the use of polluting coal to gas to generate…

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Qatar to takeover Qatargas 1 LNG trains as IOCs exit

New York — Qatar Petroleum will become the sole owner of Qatargas 1 (QG1) at the start 2022, after deciding not to renew its joint-venture agreements with Total, ExxonMobil, Marubeni and Mitsui, the company said on March 30. QG1 has three processing trains, each with a production capacity of 3.3 million mtpa of LNG and related products. The decision to move forward as the 100% owner of QG1 comes as the gas-rich state plans to to increase its LNG production by 64% by 2024 via the two-phase North Field expansion project.…

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PM nod awaited to cut petroleum prices

ISLAMABAD: The prices of petroleum products may come down by up to Rs5.5 per litre on Wednesday provided the prime minister accepts recommendation of the Oil & Gas Regulatory Authority (Ogra) based on fall in international market. A senior government official told Dawn that Ogra’s summary on price cut had reached the Ministry of Finance that would be taking up the matter with the prime minister for a decision on Wednesday. The sources said the Ministry of Finance would oppose reduction in oil prices and would like to mop up…

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Robots Could Replace Thousands of Oil & Gas Jobs, Cut Drilling Costs

Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. “Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines,” Rystad said, adding that it has found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling…

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SSGC MD visits Hyderabad region

Imran Maniar, MD, SSGC visited various facilities of the Company’s Hyderabad Region to apprise himself with the progress of various departments and ongoing projects. This was MD’s first visit to Hyderabad Region since his appointment in last February. Amongst others, during the visit, MD was accompanied by Asad Saeed Khan, SGM (HR), Abdul Waheed Jumani, GM In-charge (Gas Distribution Interior Sindh) and Brigadier Mohammad Abuzar (retd), DG (Security Services and Counter Gas Theft Operations). MD and his team visited HQ-3 (Transmission Headquarters), Regional Office, Stores, Medical Services; IT’s Disaster Recovery…

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NTDC completes work on 130km 220kV transmission line

LAHORE: The National Transmission and Dispatch Company Ltd (NTDC) have completed the rehabilitation/up-gradation of the existing 130km long 220kV double circuit transmission line from Jamshoro to KDA-33 (Karachi). The NTDC has completed rehabilitation work ahead of the deadline despite difficulties faced during the COVID-19 pandemic. The transmission line is expected to be energized on or before 31st March 2021. The completion of this transmission infrastructure shall result in the increase of 450 MW power supply from national grid to the KE power network during summer once load demand is high.…

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Saif Power working it through

Saif Power Limited (PSX: SPWL) – a subsidiary of the Saif Group – announced its financial performance for 2020 recently, and just as other IPPs, the key highlight was the decline in utilization levels due to lower dispatches of electricity during the year by the independent power producer. SPWL’s net revenues dipped by 40 percent year-on-year where the utilization levels are expected to be much lower in CY20 versus 40 percent in CY19. While the actual utilization levels for CY20 were not known at the time of writing, they were…

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Policy draft: Petroleum Division proposes converting Thar coal to liquid fuels, gas

ISLAMABAD: The Petroleum Division has worked out a policy to convert the Thar Coal to Liquid (CTL) and Coal to Gas (CTG) with huge incentives in form of fiscal package for investors, including 10-year income tax waiver. The policy draft identifies the commercial and regulatory framework in which coal can be converted into synthetic gas and synthetic diesel would help displace oil and gas imports to some extent. Under the fiscal package, the policy proposed fiscal incentives to companies investing in converting Thar coal into liquid and coal into gas.…

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Saplings planted at Jheel Park in Sindh-wide campaign

Sindh government spokesperson Murtaza Wahab stressed on Tuesday the need to plant trees, pledging that the Sindh government would work towards increasing green areas in the province. He said this while addressing the media after planting trees at Jheel Park as part of province-wide tree plantation campaign launched by the Sindh government. “Everyone looks for shade, but no one is planting trees,” he lamented, adding that the provincial government would also take steps to inculcate the importance of planting trees in children. Read: Efforts under way to plant 103 million…

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