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OP-26 Glasgow ended without satisfactory outcome. It repeated the history of Copenhagen 2009. COP-15 Copenhagen was considered a game changing event after the commitments at Bali 2007. It was expected that developed world will rise to challenge and take the responsibility to combat the climate change. Unfortunately, COP-15 Copenhagen could not deliver, except the promise of US$ 100 billion. The promise was never kept. Developing world is looking towards the developed world to fulfill their commitment and promise. Whatever developed world offered in the financing to honor their promise, was…

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The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand. The group led by Saudi Arabia and Russia surprised markets by agreeing to add 400,000 barrels a day of oil from January, even as the virus undermines prices for oil-producing nations. It left the door open to changing its mind, however, saying ministers could gather again at any moment to review the decision if conditions change. After…

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 Sui Northern Gas Pipelines Limited’s board of directors on Friday allowed a waiver of the minimum 66 per cent take-or-pay clause for three government-owned liquefied natural gas (LNG) power plants in Punjab in a bid to reduce the burden of capacity payments and increase the interest of both local and foreign investors in the government’s plan of privatising these projects. The board also approved a proposal in principle for setting up another LNG terminal by a private firm at Karachi port. Federal Minister for Energy Hammad Azhar appreciated the decision…

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The Petroleum Division has shared information on deemed duty of refineries with the Cabinet Committee on Energy (CCoE) aimed at updating the forum on this matter due to some controversies. “The summary on deemed duty was placed on CCoE agenda for information and about past upgradation. No decision was sought,” said Minister for Energy, Hammad Azhar while replying to a query sent by Business Recorder on Friday. The summary presented before the CCOE on December 2, 2021, on deemed duty says that refineries have spent Rs 199 billion against collection…

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Optimization of upstream production often requires application of digital technology that augments the physical infrastructure in oil and gas fields and streamlines the process of collecting and integrating valuable domain data for analysis. Artificial intelligence (AI) applied to production fields can provide holistic monitoring and predictive insights to improve operations and increase production. A good example is AI-based virtual metering. WHY LEGACY PHYSICS ALONE IS NOT ENOUGH FOR SCALED VIRTUAL METERING A virtual meter (VM) is a model that mimics the function of physical sensors and provides measurements of ongoing…

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