Oman LNG and Royal Dutch Shell have signed an agreement to deliver the Sultanate’s first carbon-neutral liquefied natural gas (LNG) cargo, the companies said on Tuesday. “The cargo is the first carbon-neutral LNG from the Middle East using nature-based carbon credits to offset full lifecycle CO2 emissions generated across the LNG value chain,” Oman LNG said on Twitter.
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7 May, the Asian Development Bank (ADB) issued a revamped energy policy for consultation – the policy’s first overhaul since 2009. A decade is a long time in the energy world. Between 2010 and 2019, large-scale solar power generation costs dropped 80% (to US$0.068/kWh) and onshore wind dropped 60% (to $0.053/kWh). Both now undercut the levelised (lifetime) costs of new…
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President Joe Biden’s infrastructure plan proposes to spend US$16 billion plugging old oil and gas wells and cleaning up abandoned mines. But there’s no authoritative measure of how many of these sites exist across the nation. In a recent study, my colleagues and I sought to account for every oil and gas well site in the lower 48 states that…
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Portfolio managers increased their positions in petroleum last week, reversing roughly half the sales over the previous three weeks, as benchmark oil prices started to break up through the recent ceiling. Hedge funds and other money managers purchased the equivalent of 40 million barrels in the six most important futures and options contracts in the week to June 1, after…
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Oil and Gas Development Company (OGDCL) made five discoveries during the first three quarters of the current fiscal year 2020-21, with the preliminary reserves estimates are 53.03 billion cubic feet of gas and 0.84 million barrels of oil, a combined 10.32 million barrels of oil equivalent. According to the company’s third quarterly financial report for 2020-21, per day estimated production…
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Advisor to Prime Minister on Commerce and Trade Abdul Razak Dawood has said that electric fans’ exports increased by 41.47 percent during the first 10 months (July-April) of the current fiscal year 2020-21 against the corresponding period of the last financial year. In a couple of tweets on Tuesday, the advisor said that it is very pleasing to see the…
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Pakistan has called for a global transition to clean energy, saying it is a lynchpin for the achievement of the Sustainable Development Goals (SDGs) designed to combat poverty, hunger, disease and illiteracy. “Although we have made progress towards the achievement of SDG-7 in some areas, the overall effort still falls short of what is needed to meet the goals of…
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Top officials of the city’s trade bodies on Tuesday refuted claims made in a video published online by Karachi Chamber of Commerce & Industry (KCCI) on their portal regarding K-Electric’s (KE) performance. President Korangi Association of Trade and Industry (KATI) Saleem uz Zaman, President Site Super Highway Association of Trade & industry (SSHATI) Engr Nisar Ahmed, President Bin Qasim Association…
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This was the crux of the views expressed by maritime policy experts and marine scientists at a webinar titled The Ocean: Life, Livelihood and Sustainability – Opportunities and Challenges for Pakistan, said a statement on Tuesday. The speakers urged the Pakistan Maritime Security Agency (PMSA) to take the lead in enforcing environmental laws strictly by creating synergies among the environmental…
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The Organization of Petroleum Exporting Countries and their allies in OPEC+ are on a collision course with energy watchdog International Energy Agency (IEA) on at least two counts. Last month, the Paris-based IEA delivered the starkest warning yet on fossil fuels, saying the exploitation and development of new oil and gas fields must stop this year if the world remains…
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