Year: 2021

PLL seeks higher LNG margins

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ISLAMABAD: At a time when the government is looking to end monopoly of state-run companies in the liquefied natural gas (LNG) market by allowing private sector to import LNG, Pakistan LNG Limited (PLL) has come up with a proposal for increase in its margins – a move which will put more burden on consumers. PLL is importing two contract cargoes of LNG every month. At the same time, it is importing a few spot cargoes, forcing consumers to utilise gas at higher prices. Owing to inefficiency and poor management of LNG imports,…

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US Administration Cancels Gulf Of Mexico March Oil & Gas Lease Sale

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The Bureau of Ocean Energy Management (BOEM) has rescinded the Record of Decision for the oil and gas lease Gulf of Mexico planned for March, effectively canceling this auction as part of the Biden Administration’s review of new drilling activities on federal land and in offshore waters. The lease sale would have offered 78.2 million acres for a region-wide Gulf of Mexico lease in March 2021, or 14,594 unleased blocks – all of the available unleased areas in federal waters of the Gulf of Mexico. However, President Joe Biden directed in an executive order last month…

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India’s Coal Power Use May Have Already Peaked, Report Says

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India’s use of coal may have peaked in 2018, according to a new report by according to U.K.-based clean energy group Ember. That’s sooner than many experts have forecast.   The share of the dirtiest fossil fuel in India’s power mix fell for the second year in a row in 2020, according to the report released on Tuesday, due to an economic slowdown in 2019 followed by a pandemic-induced recession. There’s a chance coal power never has to breach 2018 levels again if the Indian government meets its renewable energy goals, Ember senior analyst Aditya Lolla…

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Cold Weather Cuts Permian Oil Output by 1 Million Barrels a Day

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 Permian oil production has plunged by as much as one million barrels a day as the coldest weather in 30 years brings havoc to a region that seldom faces frigid Arctic blasts. Oil traders and company executives, speaking on condition of anonymity, lifted their estimate of supply losses in the region as the temperature in Midland, the capital of the Permian basin, dropped to -1 Fahrenheit (-18 Celsius), the lowest since 1989, according to the U.S. National Weather Service. Traders had previously estimated losses at several hundred thousands barrels per…

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Bajaur villagers protest award of mining leases to outsiders

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BAJAUR: The residents of Kamangra locality here on Monday took to streets against the authorities for allegedly awarding mining leases to influential people without their consent. The demonstration, held on main Khar-Peshawar Road in Nawagai, was attended by scores of people. Te protesters blocked the road to traffic for several hours. Holding placards inscribed with demands, the protesters chanted slogans against the administration. They said that they raised the issue of awarding mining leases to non-locals by the authorities during the past several months by staging protest demonstrations and meetings.…

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