Year: 2021

Over two-thirds of offshore oil output remains shut in U.S. Gulf -regulator

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Sept 10 (Reuters) – U.S. offshore oil companies restored almost 200,000 barrels of production on Friday, while most of the Gulf Coast crude output remained offline following Hurricane Ida, government data showed. The storm hit the U.S. Gulf of Mexico almost two weeks ago, damaging infrastructure and removing more than 21 million barrels of production from the market. Over two-thirds of the U.S. Gulf of Mexico’s oil production, or 1.2 million barrels per day, were still shut as repair efforts dragged on, helping to support global oil prices. Over 1.68…

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Deemed duty’s collection, utilisation continue to haunt refineries

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The deemed duty collection in the past for upgradation purposes continues to haunt refineries as the Cabinet Committee on Transport and Logistics (CCoTL) here on Monday directed the Petroleum Division to come up within two days with details of deemed duty on POL products since its imposition on the POL consumers and utilisation of the amount collected in this head. The CCoTL sees massive scam of billions of rupees in the amount collected as deemed duty, which was not fully utilised for upgradation of the refineries but has been used…

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Country likely to face another gas crisis

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The country is on track to face another gas crisis from 13-16 September, 2021 due to re-deployment of Floating Storage and Regasification Unit (FSRU) Exquisite after dry dock. A few day ago, the Board of Directors (BoD) of Sui Southern Gas Company Limited (SSGCL) rejected the offer of Engro of a bigger FSRU and asked the company to call its original unit, Exquisite, back to port. Sui Northern Gas Pipeline Company Limited (SNGPL), General Manager, Business Development, Corporate, Wajiha Anwar, has noted that in order to manage the gas load…

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NEPRA allows Rs1.37 tariff hike

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The National Electric Power Regulatory Authority (Nepra) on Friday increased power tariff by Rs1.3771 per kilowatt-hour (kWh) on account of fuel cost adjustment (FCA) for July 2021. The Central Power Purchasing Agency-Guarantee (CPPA-G) had requested a positive FCA of Rs1.4685/kWh, having impact of Rs22.3 billion. The FCA for July 2021 will be charged in the billing month of September 2021, which will be paid by all consumer categories of XW-distribution companies, except for lifeline consumers. As per the data submitted by the CPPA-G, the total energy generated during July was…

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CCoE to discuss refining policy, cheap power tariff on Sept 13

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A meeting of the Cabinet Committee on Energy (CCoE) has been called on Monday to consider approval of the oil refining policy 2021, cheaper electricity rates to domestic and commercial consumers to encourage incremental consumption for space heating in winter and retention of some old power plants ordered by the federal cabinet. To be presided over by Planning Minister Asad Umar, the meeting would also consider a policy direction for the operation of Re-gasified Liquefied Natural Gas (RLNG)-based power plants out of merit and Asian Development Bank-funded advanced metering infrastructure…

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