Month: July 2020

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has reportedly charge sheeted NTDC and CPPA-G for inflicting billions of rupees financial loss to electricity consumers and national exchequer by violating merit order and plant under-utilization, well informed sources told Business Recorder. This was revealed in an analysis conducted by the regulator of generation of power plants on the basis of data provided by National Power Control Centre (NPCC) in its daily log report as well as information provided by Central Power Purchasing Agency Guarantee Limited (CPP A-G) through its monthly energy…

Read More

Energy Transfer is not emptying or shutting down the Dakota Access Pipeline and is using all legal ways to fight the court order from Monday that would shut down the oil pipeline by August 5. On Monday, a federal judge ruled that the Dakota Access Pipeline (DAPL), in operation since 2017, must be emptied and shut down within 30 days, by August 5, until a new comprehensive environmental review is completed. The United States District Court for the District of Columbia said that the Army Corps of Engineers had violated…

Read More

Anyone connected or exposed to the dynamics of the oil price must be wondering if the recovery in the oil price is sustainable and, indeed, whether it has further to go. Some point to the collapse of industry pioneer Chesapeake Energy into Chapter 11 as a bullish development, arguing the loss of major producers just as demand is recovering in the U.S. can only lift prices as supply becomes less plentiful. But others point to record high inventories, commercial oil inventories reached an all-time high of 541 million barrels in…

Read More

The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going back to 1920, the U.S. Energy Information Administration (EIA) said on Thursday. In April, U.S. commercial crude stocks soared by 46.7 million barrels, or by 10 percent, as demand for refined petroleum products slumped to the lowest level in nearly 40 years, according to EIA estimates. Refinery utilization rate was at 70 percent in April—the lowest utilization rate in monthly…

Read More

Last August, Iran’s Foreign Minister, Mohammad Zarif, paid a visit to his China counterpart, Wang Li, to present a roadmap on a comprehensive 25-year China-Iran strategic partnership that built upon a previous agreement signed in 2016. Many of the key specifics of the updated agreement were not released to the public at the time but were uncovered by OilPrice.com at the time. Last week, at a meeting in Gilan province, former Iran President Mahmoud Ahmadinejad alluded to some of the secret parts of this deal in public for the first…

Read More

Siemens Gamesa Renewable Energy announced that it has launched its new turbine, the SG 3.4-145, into India’s onshore wind market. Siemens said that the new wind turbine is specifically designed and optimized for wind conditions in India and aims to deliver the lowest possible Levelized Cost of Energy (LCoE) with high reliability. The new wind turbine is an extension of the Siemens Gamesa 3.X platform, which the company will be manufacturing starting in early 2021. The new model has been upgraded with the 145-meter rotor of the Siemens Gamesa 4.X…

Read More