The U.S. Supreme Court is hearing oral argument on Tuesday in a case that has pitted the oil industry and the corn lobby for years—whether refiners can obtain exemptions from blending ethanol in gasoline and diesel under the Renewable Fuel Standard. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline…
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The northern parts of Canada’s province of Alberta have seen rising coronavirus cases in recent weeks with several oil sands sites becoming hot spots of outbreaks as workers are flying in and out for maintenance at the crude upgraders. The high active COVID cases have not impacted production in the Canadian oil patch, but some maintenance work has been stretched…
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BP (NYSE: BP) is resuming share buybacks this quarter after more than tripling its first-quarter earnings from a year ago on the back of rising oil prices and “exceptional gas marketing and trading performance,” the UK-based supermajor said on Tuesday. BP kicked off today Big Oil’s Q1 earnings season, reporting underlying replacement cost profit—its proxy for net profit—of $2.63 billion,…
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In the late 90s of the previous century and early years of this century, Egypt in collaboration with international partners started the development of its LNG sector. This resulted in the Idku and Damietta plants with a capacity of 7.2 and 5.3 mtpa, respectively. However, the availability of feed gas evaporated overnight when domestic demand rose strongly until 2012 and…
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SNGPL Peshawar Region in its continued extensive Task Force activities in Peshawar City and its Sub Areas has carried out raids against pilferers and illegal use of gas. During the said operation teams plugged 890 direct / underground connections, 12 underground taps detected / removed, 900 suspected/ reverse/without record meters are replaced, 05 Domestic to Commercial use meter disconnected, 150…
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The Pakistan Red Crescent Society (PRCS) and the Oil & Gas Development Company Limited (OGDCL) have signed an MoU under which the latter will donate an X-ray machine to the Red Crescent Corona Care Hospital, Rawalpindi. The MoU was signed by PRCS Chairman Abrar ul Haq and OGDCL MD/CEO Shahid Salim Khan on behalf of their respective organizations at a…
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The petroleum company is trying to erase its history. But with billions of rupees missing, auditors resigning, and law enforcement agencies taking unprecedented interest, that is proving to be a little difficult. It is September 2019, and Mumtaz Hasan Khan is a confident man. And why wouldn’t he be? He is the chairman of Hascol Petroleum, a company that has…
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In line with increased demand, Thal Limited – a subsidiary of the House of Habib – is setting up a manufacturing plant for polypropylene woven bags in Hub with an investment of Rs1.7 billion. “Polypropylene bags are used for multiple purposes ranging from the packaging of fertiliser and sugar to finished agricultural products,” said Topline Securities Deputy Research Head Shankar…
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K-Electric Chairman Shan Ashary, along with board of directors member Khaqan Khan and CEO Syed Moonis Abdullah Alvi, called on Federal Minister for Finance and Revenue Shaukat Tarin on Tuesday. The chairman briefed the finance minister about operations of K-Electric as the main power utility, which met the electricity requirement of Karachi. He apprised the minister of the challenges being…
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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has appointed an independent third-party inspector for conducting testing of gas meters of industrial and commercial gas consumers to address consumer complaints of overbilling and one-sided fines. “It is circulated for information of industrial and commercial consumers of natural gas/ RLNG that the authority in pursuance of Clause 8.2 of Natural Gas…
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