Day: March 31, 2021

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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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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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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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 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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