Day: May 5, 2022

Shell Says It’s Impossible to Trace Russian Crude In Refined Products

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There is no way to trace whether there is Russian crude oil or how much crude from Russia will go into the refined products market globally, Shell’s chief executive Ben van Beurden said on Thursday. “We do not have systems in the world that trace back whether that particular molecule originated from a geological formation in Russia…. that doesn’t exist,” van Beurden told journalists, as carried by Reuters. “So therefore, diesel coming out of an Indian refinery that was fed with Russian crude is considered to be Indian diesel,” Shell’s…

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Germany Will Have First LNG Import Capacity By Year’s End

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Germany has begun construction on its first LNG import terminal, and in the meantime, has rented four mobile floating tankers as it scrambles to rid itself of the need for Russian natural gas. Construction of the LNG import terminal has been fast-tracked, with German Economics Minister Robert Habeck hoping to complete this at “Tesla speed”, in less than a year. The terminal is being built in Wilhelmshaven on the German North Sea, and officials are aiming to see the first LNG tankers dock at it by the end of this…

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Libya’s Zueitina Port Receives First Oil Tanker After Lifting Force Majeure

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Libya’s Zueitina port has received its first oil tanker after temporarily lifting force majeure last week to free up storage space. While Libya’s National Oil Company (NOC) did not issue a statement, NOC sources told LIbyan media that the Melos 21 oil tanker had docked at Zueitina for loading, after which it will sail to China. Libya’ declared force majeure on Zueitina, along with its largest oil field, Al-Sharara, and the El Feel oilfield in mid-April amid anti-government protests over the way oil revenues are distributed. On April 30th, the…

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Pakistan’s National Interests Must Protected at All Cost

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Certainly that Pakistan is passing through the worst economic and political crisis in its history of more than seven decades. Current challenges are unprecedented. Foreign debt has reached its peak, inflation, price hike, political turmoil, etc., all are reinforcing difficulties for Pakistan. Under such a critical scenario, the nation has to think smartly, and wisely. Without compromising national interests, Pakistan needs to explore all possible options to improve its economy and political stability. Pakistan has the capability to come out of the crisis, in the past, we did come out…

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Queensland commits to not closing any coal power plants under net zero plan

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Queensland’s energy minister has declared that none of the state’s eight coal-fired power stations will be closed as part of its 10-year energy transition plan, raising doubts about the government’s climate change and energy targets. Mick de Brenni said later this year he would present a plan to generate 50% of the state’s electricity from renewable energy sources, cut carbon emissions by 30% by 2030 and achieve net zero by 2050. However, there are questions about those targets after he added that eight existing coal-fired power plants would remain open.…

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