Category: News & Announcement

ISLAMAABAD: The Cabinet Committee on Energy (CCoE) has directed Petroleum Division (PD) to play its role in accordance with the relevant laws/rules in signing required agreement(s) with PLL and KE for RLNG supply to KE’s new unit while ring fencing old KE receivables issue related to indigenous gas supply, sources close to SAPM on Petroleum told Business Recorder. The decision was taken at a meeting of the CCoE held on January 18, 2021 under the chairmanship of Minister for Planning, Development and Reforms, Asad Umar. The decision of the committee…

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SLAMABAD: The Council of Common Interests (CCI) is likely to approve the controversial Census-2017 at its meeting to be held on Wednesday (Jan 27) with Prime Minister Imran Khan in the chair. The PM has called the 44th meeting of the CCI to discuss various issues, including the issue of notification of Census-2017 results. The federal cabinet, after a lapse of three years, had approved the National Census with a dissenting note submitted by the Muttahida Qaumi Movement (MQM), one of the government’s allies. The MQM has been raising its…

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SpaceX plans to use two deepwater oil rigs as offshore floating spaceports that the company will likely use for the Starship rockets it is developing. CNBC’s Michael Sheetz reports, citing public documents, that now-bankrupt offshore rig operator Valaris sold two rigs, 8500 and 8501, for $3.5 million each. The deal was completed in July last year, and Valaris—the world’s largest offshore drilling rig operator—filed for Chapter 11 bankruptcy protection soon after. The buyer of the rigs, according to the CNBC report, was a limited liability company named Lone Star Mineral Development,…

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The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ production cut deal. Nigerian daily This Day quoted the managing director of the NNPC as laying out this plan, and noting a boost in condensates production should help push revenues higher. Whether condensates should be included in oil production figures when calculating OPEC’s production quotas has been a longstanding dispute. Nevertheless, Mallam Mele Kiyari also said Nigeria remained committed to…

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The U.S. Department of Commerce said on Thursday it had blacklisted China’s state-run oil company CNOOC for helping China intimidate neighbors in the South China Sea, threatening U.S. national security, in yet another move aimed at restricting market access for Chinese companies. CNOOC was added to the Entity List, a tool utilized by Commerce’s Bureau of Industry and Security (BIS) to restrict the export, re-export, and transfer (in-country) of items to persons reasonably believed to be involved, or to pose a significant risk of becoming involved, in activities contrary to…

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