Month: February 2023

BP Declares Force Majeure On Azeri Crude Loadings From Turkey’s Ceyhan Port

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BP Azerbaijan is the operator of the sections of the Baku-Tblisi-Ceyhan (BTC) pipeline in Azerbaijan and Georgia. BP-operated assets in Azerbaijan include the Azeri-Chirag-Gunashli (ACG) oilfield, the massive Shah Deniz gas field, the Baku-Tbilisi-Ceyhan (BTC) pipeline, and South Caucasus Pipeline (SCP). Ceyhan is the key export outlet for Azerbaijan’s oil and ships out around 650,000 barrels per day (bpd) of Azeri crude. The Ceyhan oil terminal in southern Turkey temporarily suspended operations on Monday after the earthquake in Turkey and Syria. The oil terminal is around 155 kilometers, or 96…

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US natgas gains on rising LNG exports

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US natural gas futures gained about 2% on Thursday after dropping to a 25-month low in the prior session on rising LNG exports and forecasts for slightly colder weather over the next two weeks than previously expected. That small price increase came ahead of a federal report expected to show last week’s storage withdrawal was bigger than usual for the first time this year as cold weather boosted demand for gas to heat homes and businesses. Analysts forecast US utilities pulled 195 bcf (billion cubic feet) of gas from storage…

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ADB supports Sindh govt to add fleet of Electric busses to People Bus service Karachi

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he Sindh government and the Asian development bank (ADB) have agreed to collaborate to procure another fleet of Electrical Vehicles to include them in the Peoples Bus Service already operating in Karachi.This emerged in a meeting between Sindh Chief Minister Syed Murad Ali Shah and the ADB delegation led by its Country Director Mr. Yong Ye. The other delegation members were Unit Head, Project Administration Mr. Dinesh R. Shiwakoti, Unit Head Urban, Water & Emergency Assistance Mr. Mian Shaukat Shafi, Senior Climate Change Specialist Mr. Nathan Rive and Senior Portfolio…

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Qatar agrees to buy OGDCL, PPL shares

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ISLAMABAD: Qatar has reportedly agreed to consider Pakistan’s offer to buy shares/ stakes of Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) and sell Mirage-2000 fighter aircrafts to Pakistan. This was revealed at a recent inter-ministerial meeting presided over by Special Assistant to Prime Minister on Coordination, Syed Tariq Fatemi as a follow up of Prime Minister’s visit to Qatar on 22-23 August 2022. The Finance Minister during his recent visit to Qatar offered the Qatari side to buy stakes/ shares of OGDCL and PPL. The…

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WAPDA to add 10,000MW hydroelectricity by 2030

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LAHORE: Water and Power Development Authority (WAPDA) will add as much as 10,000MW of low-cost, green and clean hydroelectricity to installed power generation capacity of the country by 2030 with phased completion of its under-construction projects. Consequently, according to WAPDA Chairman Lt Gen Sajjad Ghani (retd), this would double the country’s hydropower generation to about 20,000MW from the current 9,500MW, that WAPDA has been able to develop during the last 65 years. In addition, he added, gross water storage capacity in the country would also enhance by another 12 million…

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