Month: January 2021

Ecuador Scrambles To Clean Up Its Oil Industry

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The last year was difficult for Ecuador’s beaten-down hydrocarbon sector. Aside from the severe fallout from the COVID-19 pandemic and sharply weaker oil prices, the industry was rocked by yet another corruption scandal and a series of environmental disasters. Those events sharply impacted oil production, will deter urgently required investment and spark greater dissent among Ecuador’s indigenous communities. Like southern neighbor Peru, most of the equatorial country’s operational oilfields and infrastructure is in Ecuador’s portion of the Amazon basin. The region is inhabited by many indigenous communities who have become…

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United Oil & Gas starts 2021 with optimism and promise as new Egypt drilling starts

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Drilling has begun for the ASH-3 development well at the Abu Sennan licence and it is expected to provide further impetus to a production operation that exceeded expectations through 2020. The programme comes just weeks after the commissioning of a gas pipeline which unlocks additional production volumes. United owns a 22% interest in the Kuwait Energy operated well which will target Alam El Bueib reservoirs, as a follow up to the ASH-2 production well which has yielded over 1mln barrels since coming online a year ago. The well is currently…

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Death knell tolls for Indonesia’s oil and gas

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JAKARTA – With Chevron and perhaps ExxonMobil heading for the exits, active exploration at a virtual standstill and production on an increasingly downward spiral, Indonesia’s government needs to conduct radical regulatory surgery before its oil and gas industry is doomed by the onrushing era of renewable energy. Analysts say the nationalist tide that has swept over the industry in the past six years has left Indonesia on the bottom rung of prospective foreign investment and without the financial and technical means to explore for and develop new fields independently. “The…

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FPCCI to Provide Continuous Gas Supply to Industries

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ISLAMABAD: President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Nasser Hyatt Maggo Tuesday called the Sui Southern Gas Company (SSGC) to provide uninterrupted gas to the industrial sector for mitigating their targets. The President FPCCI said that SSGC immediately restore gas supply with required pressure to overcome the supply and demand gap of energy, said a press release issued by FPCCI here. He said that disconnection of gas to industry and Captive Power Plants will seriously harm the growth in export of Pakistan which after a…

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$57m 100MW solar power plant being installed in Layyah: Firdous

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LAHORE: Special Assistant to Chief Minister Punjab on Information Dr Firdous Ashiq Awan has said the provincial government is setting up a 100-MW solar power project in Layyah at a cost of $57 million, which will add 200 million units of cheap electricity to the national grid. She was addressing a press conference along with Punjab Minister for Energy Dr Akhtar Malik, after the signing ceremony of a land lease agreement for the project at EFU House, Jail Road, here on Tuesday. She said the government would purchase electricity at…

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Cabinet members discuss gas load-shedding

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ISLAMABAD: Poor planning for the import of liquefied natural gas (LNG) has earned a bad name to the government as gas load-shedding in various parts of the country provided detractors an opportunity to criticise the government, noted cabinet members in a recent meeting. During discussions, the cabinet members highlighted that considering the gas supply and demand situation, proper planning should have been done well ahead of time. They were of the view that the ongoing gas crisis had given critics an opportunity to rail against the government. With the country…

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Gigantic cleanliness drive: Citizens smell odour of LWMC’s inefficiency

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LAHORE: Heaps of waste are yet to be lifted and disposed of at the landfill sites, leaving a large population of Lahore with no option but to live in a stinking environment for the last many days. There are reports that people in various localities have expressed anger over the situation and castigated sanitation / cleanliness workers / supervisors and sweepers for not lifting the waste despite passage of many days. On the other hand, the Lahore Waste Management Company (LWMC) has apologised to the citizens for inconvenience and pledged…

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IPPs not impressed by govt plan for dues settlement

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ISLAMABAD: Independent power producers (IPPs) have cast off a payment plan offered by the government for partial settlement of their dues and demanded at least 50 per cent upfront cash payments before signing formal agreements for tariff discounts. An implementation committee led by Finance Minister Dr Abdul Hafeez Shaikh had last week offered payment of about Rs450 billion to the IPPs in three equal (one-third of total) installments through a combination of cash and tradeable bonds next month, June and December 2021. Each installment was to comprise one-third (about Rs50bn)…

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Trump Administration Finalizes Alaska Oil Drilling Plan

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The Trump administration has finalized a plan that will open up more land for oil and gas drilling in the Alaska Petroleum Reserve, the Bureau of Land Management said this week, adding that the plan covers 18.6 million acres in the reserve. At the same time, the BLM closed 4 million acres to oil and gas drilling, including the habitats of several species. “This action is a significant achievement in delivering on our commitment to provide energy for America, from America,” Principal Deputy Assistant Secretary Casey Hammond said in the…

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South Korea Sends Military Forces To Strait Of Hormuz After Tanker Seizure

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South Korea has dispatched military forces to the Strait of Hormuz after the Iran Revolutionary Guard seized a Korean-flagged oil tanker yesterday. According to Arirang News, the dispatched force is South Korea’s anti-piracy unit. It comprises a 300-strong force, a helicopter, and a 400-ton destroyer. “The South Korean tanker was stopped in the waters of the Persian Gulf” because of environmental pollution, the IRGC Navy said, as carried by the Iranian Fars News Agency. The ship is headed to one of the ports in Iran, where the issue “will be…

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