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…
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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…
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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.…
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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…
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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.…
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The Strategic Petroleum Reserve (SPR) has been a controversial part of the energy debate since the first Arab oil embargo. During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military. Shortages of crude oil and petroleum products…
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Turkey on Thursday accused Cyprus of violating its continental shelf by awarding an exploration license in the Mediterranean to Exxon Mobil (XOM.N) and Qatar Petroleum [RIC:RIC:QATPE.UL], adding it will not allow unauthorised exploration in its jurisdiction. For decades, Turkey has been at odds with Greece and Cyprus over competing territorial claims in the east Mediterranean, air space, energy, the status of some…
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No restriction at all in Pakistan if power consumers want to install solar systems to energize their homes, offices’ The Sindh government has advised the general public to install solar systems as an effective and clean off-grid solution to meet their energy needs both for their homes and offices. The advice to this effect was given by the Sindh government’s…
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Saudi Arabia, the world’s largest oil producer, has ramped up development at the natural gas-rich Jafurah field in the Eastern Province, considered the largest unconventional field of its kind in the Kingdom. State-owned Saudi Arabian Oil Co., aka Aramco, secured regulatory approval in early 2020 to develop the mega field, which holds an estimated 200 Tcf. Designed to meet the…
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The longer the prices for natural gas remain at record high levels in Europe this year, the stronger the markets feel that Russian gas should not be seen as a quick fix to the problem, at least not before this winter ends. “Overall gas production in Russia over the three quarters of 2021 was 12 percent and 2.6 percent higher…
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