Day: April 28, 2021

The U.S. Supreme Court is hearing oral argument on Tuesday in a case that has pitted the oil industry and the corn lobby for years—whether refiners can obtain exemptions from blending ethanol in gasoline and diesel under the Renewable Fuel Standard. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline and diesel. Refiners that don’t have the infrastructure to blend biofuels must purchase tradeable blending credits known as Renewable Identification Numbers, or RINs. The Environmental Protection Agency (EPA) has the…

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The northern parts of Canada’s province of Alberta have seen rising coronavirus cases in recent weeks with several oil sands sites becoming hot spots of outbreaks as workers are flying in and out for maintenance at the crude upgraders. The high active COVID cases have not impacted production in the Canadian oil patch, but some maintenance work has been stretched because of the outbreaks, industry officials told Bloomberg. According to data from Alberta Health at the start of this week, cited by CBC News, there were as many as 12…

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BP (NYSE: BP) is resuming share buybacks this quarter after more than tripling its first-quarter earnings from a year ago on the back of rising oil prices and “exceptional gas marketing and trading performance,” the UK-based supermajor said on Tuesday. BP kicked off today Big Oil’s Q1 earnings season, reporting underlying replacement cost profit—its proxy for net profit—of $2.63 billion, up from $791 million for the first quarter of last year and from just $115 million for the fourth quarter of 2020. “This result was driven by an exceptional gas…

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In the late 90s of the previous century and early years of this century, Egypt in collaboration with international partners started the development of its LNG sector. This resulted in the Idku and Damietta plants with a capacity of 7.2 and 5.3 mtpa, respectively. However, the availability of feed gas evaporated overnight when domestic demand rose strongly until 2012 and the two LNG plants came to a standstill. Egypt’s fortunes have improved markedly the last couple of years resulting in Idku’s restart. Now, also, Damietta has started working after almost…

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SNGPL Peshawar Region in its continued extensive Task Force activities in Peshawar City and its Sub Areas has carried out raids against pilferers and illegal use of gas. During the said operation teams plugged 890 direct / underground connections, 12 underground taps detected / removed, 900 suspected/ reverse/without record meters are replaced, 05 Domestic to Commercial use meter disconnected, 150 Meters, illegal lines removed (gas was feeding to Approx 40 number of houses), 255 MMCF volume worked out from Non Consumers, whereas work on remaining is in progress and also…

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