Month: January 2023

IEA welcomes Russia’s plan to export gas to Afghanistan

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The Islamic Emirate of Afghanistan’s (IEA) Ministry of Industry and Commerce (MoIC) has welcomed Russia’s suggestion that it will export gas to Afghanistan and Pakistan. The ministry said in a statement on Saturday that the Islamic Emirate is fully committed to positive economic relations with all countries and has already provided the ground for regional connectivity. “The Islamic Emirate welcomes the statements of the Russian Deputy Prime Minister Alexander Novak, who said that Russia wants to export its natural gas to Afghanistan and Pakistan,” read the statement. The statement also…

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Can Global Oil Production Climb If The U.S. Shale Boom Is Over?

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oil

Prior to the pandemic-induced downturn in world oil production, U.S. oil production growth was responsible for 98 percent of the increase in world production in 2018 (as reported in 2019). Almost all of that growth resulted from rapid increases in shale oil production which accounted for 64 percent of U.S. production (as of 2021). Fast forward to today when Oilprice.com has declared that “The U.S. Shale Boom Is Officially Over.” The reasons cited mostly have to do with management “discipline” regarding capital expenditure in favor of shareholder payouts and complaints…

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Another year of uncertainty ahead for O&G sector

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THE oil and gas (O&G) sector is expected to run into twin headwinds this year, characterised by the volatility in the energy market and the slowdown of the global economy.  One bright spot for Malaysia is Petroleum Nasional Bhd (Petronas) and the overall positive sentiment towards  its activities for 2023-2025, as well as the national oil giant’s third-quarter net profit which almost doubled to RM30.8 billion from the RM16.3 billion reported in 2021.  In its Activity Outlook report for 2023-2025, Petronas high- lighted that uncertainty in the energy market is still…

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Winter season: domestic consumers bracing for more gas outages

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Domestic consumers are bracing for long hours of gas outages as they are receiving supplies for only eight hours a day to meet cooking needs amid growing demand of gas in current winter season and non-availability of expensive imported LNG on spot purchase. The gas deficit in the country for the winter season 2022-23 has been worked out at 1.35 bcfd (billion cubic feet per day). The gas deficit would stay at 900-1,000 mmcfd in the SNGPL system that covers Punjab and KPK. The gas availability in the SNGPL system…

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CNG stations in Peshawar, Mardan closed for one month

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cng-stations

The district administrations of Peshawar and Mardan divisions on Saturday imposed bans on opening of all CNG stations in the districts from January 1 to January 31. In separate notifications, the decision has been made on the recommendation of Sui-Northern Gas Pipeline Limited (SNGPL) and Home and Tribal Affairs Department. All the CNG stations situated in both divisions would be closed to ensure a sufficient supply of gas to minimize the suffering of the domestic consumers. The ban has been imposed under section 144 of Cr.PC and strict action would…

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