Russian Oil Giant Rosneft Seeks Approval To Export Natural Gas

State-controlled Rosneft, the largest oil producer in Russia, has asked Russian President Vladimir Putin to be allowed to export natural gas with giant Gazprom acting as an export agent, Russian newspaper Kommersant reports, citing a letter which Rosneft’s boss has sent to Putin. Gazprom is the sole exporter of natural gas in Russia. Rosneft’s chief executive office Igor Sechin wrote…

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Govt offering subsidy on laser land leveller to facilitate farmers

The Punjab government is offering a subsidy of Rs 250,000 against each laser land leveller in 13 districts with arid areas in the province. According to official sources, the subsidy was being given under Rs 300 billion PM’s Agriculture Emergency Programme. Assistant Director Abdul Samad informed that the subsidy would be given to farmers having tractors and land less than…

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LNG prices rebound to highest since Jan as gas inventories remain low

Asian liquefied natural gas (LNG) prices rebounded this week to their highest since January, as more spot demand emerged even as inventories remained low. The average LNG price for October delivery into Northeast Asia LNG-AS was estimated at about $17.20 per metric million British thermal units (mmBtu), up $1.70 from the previous week, industry sources said. Woodside Petroleum sold a…

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Is deep-sea mining a cure for the climate crisis or a curse?

In a display cabinet in the recently opened Our Broken Planet exhibition in London’s Natural History Museum, curators have placed a small nugget of dark material covered with faint indentations. The blackened lump could easily be mistaken for coal. Its true nature is much more intriguing, however. The nugget is a polymetallic nodule and oceanographers have discovered trillions of them…

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Oil and gas facing new realities

The oil and gas sector is undergoing permanent change brought about by a number of key events mostly related to climate change. The sector was slow to respond to the 2016 Paris Agreement, but Europe’s decisive move towards deep decarbonisation, intensified pressure from shareholders and activists, and more recently court action, are forcing permanent change on the international oil companies…

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Govt urged to remove hurdles causing long wait for oil ships

The oil companies have asked the government to address on an urgent basis logistic constraints resulting in underutilisation of infrastructure at the ports and causing long wait for ships and economic losses to the oil companies and the country. In separate letters to the ministers of petroleum, energy and maritime affairs, the Oil Marketing Association of Pakistan (OMAP) said the…

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Financial and corporate oil spill

SBP’s deputy governor Jameel Ahmad reported to the Senate committee on finance that the company took huge exposure to one client and something wrong happened there as there were also backward and forward links in this case. However, he said the financial market regulator SBP had examined the episode and the banks had not committed any regulatory violations while extending…

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