Year: 2022

Siemens Gamesa launches recyclable onshore wind turbine blades

Admin

After getting the world’s first offshore wind turbine with recyclable blades up and spinning in August, Siemens Gamesa has just launched its RecyclableBlade for onshore wind power projects. The Siemens Gamesa RecyclableBlade for offshore was launched in September 2021 and installed at the 342 megawatt Kaskasi offshore wind farm in Germany in July 2022. Siemens Gamesa has not yet said which sizes the recyclable onshore blades will be available in or when, nor how many recyclable onshore blades it’s produced so far.The Spanish-German wind engineering giant calls its recyclable blade…

Read More

OGDCL ANNOUNCED FINANCIAL RESULTS FOR
THE YEAR ENDED JUNE 30, 2022.

Admin

Islamabad: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 22nd September, 2022 at Islamabad announced the financial results for the year ended June, 30, 2022 of fiscal year 2021-22. Net sales revenue clocked at Rs.335.463 billion translating to profit after tax of Rs. 133.783 billion, showing an increase of 56 percent compared to a profit of Rs. 91.534 billion in the same period of last year and earnings per share of the company clocked at Rs. 31.11 from Rs. 21.28.The Board…

Read More

UAE Oil Giant Reportedly In Talks to Acquire Gunvor Trading

Admin

The UAE’s state-run oil giant is reportedly considering a full or partial acquisition of Gunvor Group commodity trading house, both Bloomberg and Reuters report, citing unnamed sources. The UAE’s Abu Dhabi National Oil Co (ADNOC) has already undergone early-stage talks about buying the commodities house, according to Bloomberg, to merge Adnoc’s trading arm with Gunvor. Reuters likewise cites an unnamed source as saying that talks have been held for the acquisition of Gunvor Group or a stake in the trading house. Neither ADNOC nor Gunvor have made any statements about alleged early-stage talks,…

Read More

Saudi Aramco Shares Some Hard Truths About Our Energy Future

Admin

Policymakers need to look beyond this winter and stop vilifying the oil and gas industry if they want to prevent the next energy crisis, according to the chief executive of the world’s biggest oil company and largest crude oil exporter, Saudi Aramco.    Amin Nasser criticized the short-term emergency responses to the energy crisis in Europe and said that the short-term view doesn’t help energy supply or energy security at all. The ongoing energy crisis, while intensified by the Russian invasion of Ukraine, didn’t start with the war, according to…

Read More

The Pullback In Natural Gas Has Created An Opportunity

Admin

U.S. natural gas prices have hit a fresh six-week low, closing at $7.75/MMBtu on Monday with the Wall Street Journal saying that the market has lost momentum due to U.S. production topping 100 Bcf/day for the first time ever. The odds are now that ample U.S. production will be enough to meet local demand in the final months before winter arrives. Prices are likely to remain depressed unless there’s a breakout of storm activity in the Gulf of Mexico which could disrupt production.   Meanwhile, benchmark European gas prices have continued to…

Read More