Like the first cuckoo of spring, the annual autumn refrain from senior Iraqi oil officials of new production targets has that pleasant ring of the familiar about it to seasoned oil industry watchers. Sometimes it is 6 million barrels per day (bpd), sometimes 7, and sometimes 8, but it always prompts an analysis of the facts and figures that invariably…
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Refinery workers at BP’s biggest refinery in Europe are on a partial strike over demands for higher wages and will not cooperate in efforts to restart the Rotterdam refinery, which is currently offline. Employees at the 400,000-bpd refinery, a major supplier of diesel to northern Europe, threatened earlier this month to go on a strike if their pay rise demands…
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UK oil and gas companies are facing a bill of some $24 billion, or 20 billion pounds, for plugging unused wells, Reuters has reported, citing figures from Offshore Energies UK, the industry body. There are more than 2,000 old wells and related facilities that would need to be put out of commission over the next ten years. What’s more, the bill…
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The counsel for Barrick Gold informed the apex court that if by December 15, 2022, the agreement is not signed between Balochistan and Barrick Gold then Pakistan would have to pay over $9 billion. In 2019, the World Bank’s arbitration tribunal imposed a penalty on Pakistan for unlawful denial of mining. After a decade-long legal battle, Pakistan announced the out-of-court…
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October 2022 marked the fifth month in a row, where electricity generation went down year-on-year. Even peak Covid saw the generation go down for no more than three months at a stretch. This is now in FY19 territory, where the economic slowdown led to negligible GDP growth, largely towards the end of fiscal year. Never before or since, has power…
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The United States Agency for International Development (USAID) and Ministry of Energy, Government of Pakistan on Tuesday launched the first end-consumer mobile application for smart electricity meters at the Multan Electric Power Company (MEPCO) Headquarters in Multan LAHORE, (APP – UrduPoint / Pakistan Point News – 22nd Nov, 2022 ) :The United States Agency for International Development (USAID) and Ministry…
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The building has nine floors housing all offices of Directorate General Petroleum Concession, Directorate General Oil, Directorate General Gas, Directorate General LGS, Directorate General Special Projects and Directorate General Mines and Minerals. In addition, the offices of GHPL, Pakistan LNG Limited, Inter State Gas System, Saindak Metals Limited and LMKR are also in that building. All employees working in these…
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To better tackle distribution of oil and gas products across the country and tackle shortages, the federal government has drafted a bill to establish Pakistan Petroleum Upstream Regulatory Authority. Once passed, the bill help create a body to regulate oil and gas exploration companies in the all four provinces of the country apart including issuing licenses and registering them. The…
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Crude oil is probably the single most important commodity in the world right now, and it has been so, since the last 100 years. The byproducts of this oil are petrol, diesel, jet fuel, Natural Gas, Furnace oil and lubricants etc. There are more than 50 thousand oil wells in the whole world and each one of them has a…
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