Day: May 18, 2021

The oil and gas industry, which is traditionally a laggard in the adoption of connected technologies, is increasingly deploying digital twins to improve decision-making. The prevailing industry downturn from COVID-19 has heightened the need to reduce costs and make operations more sustainable with technology, according to GlobalData. Worldwide lockdowns have significantly impacted global energy demand, while also causing project delays due to supply chain disruptions. The downturn has aggravated the need for improving the overall asset visibility to identify areas for cost reduction. Digital twins are key to achieving this…

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O&G majors, EPC, truck owners, and fuelling infrastructure developers are going to participate in the discussion about road infrastructure decarbonization. It is one of the major topics of the 7th International LNG Congress. The Congress takes place on 7-8 of June, 2021 on the BGS online platform, and covers major LNG questions of the industry. Discussion about the decarbonization of road transportation remains on the front burner of the O&G industry. The number of vehicles on the road has been growing, and transport emission has been decreasing every year. The…

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“At the country level, LNG demand growth is expected to be led by growing markets in Asia, particularly China and India. The positive outlook for gas in China is forecast to be driven mainly by the residential and industrial sector, thanks to the Chinese government’s policies to improve air quality in the country by switching from coal to gas,” Yury Sentyurin, Secretary- General, GECF, told The Peninsula. Meanwhile in India, the government has committed to transition towards a gas-based economy and reach 15 percent gas share by 2030. Here, LNG imports…

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Pakistan has been trapped in an unsustainable debt cycle for decades, with the most recent figures depicting the balance of the current account in deficit for the fourth successive month in March at a moderate $47 million, according to Pakistan’s central bank. Pakistan’s Current Account Balance for the last 6 years is shown in the table below. This foreign currency deficit is currently being financed through loans and bonds. Present Debt Profile Pakistan’s debt level has increased significantly over time (figure below). Short-term economic fixes will never amount to the…

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The Federal Cabinet, which is scheduled to meet on Tuesday (today), is likely to approve payment of Rs 90 billion (40 percent of total payment agreed) to 35 Independent Power Producers (IPPs). The Economic Coordination Committee (ECC) of the Cabinet, in its meeting held on May 5, 2021 approved the summary of the Power Division. The decision of the ECC will be ratified on Tuesday (today). The issue of additional power to Karachi Electric (KE), new Power Purchase Agreement (PPA) and probable development on Arbitration Agreement is also expected to…

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