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Tag Archives: gas

Cyprus, Turkey brace for new row over gas reserves

NISOSIA: Renewed tensions between Cyprus and Turkey over potential gas reserves in the eastern Mediterranean risks becoming a new bone of contention between the two countries, in a region which is already struggling to cope with the wider turmoil in the Middle East. Cyprus is expected to contest the inclusion of Turkish shipbreaking yards in a list of Brussels-approved facilities ... Read More »

Nigeria’s domestic gas demand to hit 10b cubic by 2020

ABUJA: Nigerian National Petroleum Corporation, has said that domestic demand for gas was expected to rise to over 10 billion cubic feet per day by 2020. This was contained in the 2014 last quarter bulletin of the NNPC obtained by the News Agency of Nigeria on Monday.The NNPC boss, while putting the domestic gas utilisation in Nigeria in perspective, said ... Read More »

British Gas earns £1.9b profit as customers handed paltry cuts in bills

LONDON: The owner of British Gas is expected to announce it raked in profits of £1.9 billion last year or £60 a second as customers were handed paltry cuts in bills. Centrica’s predicted windfall will ­infuriate hard-up households who are making savings as low as 71p a week, despite wholesale costs plunging. Energy fatcats have been waltzing off with huge ... Read More »

British Gas earns £1.9b profit as customers handed paltry cuts in bills

LONDON: The owner of British Gas is expected to announce it raked in profits of £1.9 billion last year or £60 a second as customers were handed paltry cuts in bills. Centrica’s predicted windfall will ­infuriate hard-up households who are making savings as low as 71p a week, despite wholesale costs plunging. Energy fatcats have been waltzing off with huge ... Read More »

Oil, gas show 22% decline in Q4 of 2014 in Iraq

BAGHDAD: The number of major contract awards across the global oil and gas industry has steadily declined during the last quarter of 2014, dropping to 117 contract awards, a 22 per cent decrease compared to 150 in Q3 2014, but on par with the 118 contracts awarded in Q4 2013, a report said. In the fourth quarter (Q4) of 2014, ... Read More »

Russia gas exports to Europe, Turkey reach 11.1b cubic metres in Jan

MOSCOW: Russian gas exports to Europe and Turkey reached 11.1 billion cubic metres in January, an official at Russian gas producer Gazprom told Reuters. Gazprom’s exports to Europe and Turkey reached 147.2 billion cubic metres last year. Read More »

UK prompt gas prices fall 48.40 pence per therm on more Norwegian deliveries

OSLO: British prompt gas prices fell on Thursday on increased pipeline deliveries from Norway and expected milder weather towards the weekend. The price of gas for day-ahead delivery eased by 0.35 pence to 48.40 pence per therm at 0930 GMT, and within-day delivery fell by 0.60 pence to 48.40 pence per therm. National Grid (LSE: NG.L – news) data showed ... Read More »

Netherlands gas station owners lose case to lower fuel tax

AMSTERDAM: Netherlands two fuel stations near the Dutch borders lost their lawsuit against the Netherlands over a hike in fuel taxes. The judge on Friday rejected their petition for the Dutch government to pay an advance on damages they suffer as a result from climbing taxes, sending their customers to cheaper filling stations across the border. The companies filed suit ... Read More »

40 foreign firms eager to invest in Iran’s gas industry

TEHRAN: Forty American, European, and Asian firms have announced their willingness to invest in Iran’s gas industry, according to an official with the National Iranian Gas Company (NIGC) here the other day. Companies from South Korea, Japan, Russia, Italy, England, France, and Canada are negotiating with the NIGC to make investment in Iran’s gas projects, Asghar Soheilipour, the chairman of ... Read More »

$282,000 worth 4,030 barrels/day: 6th gas, oil discovery in Sanghar

KARACHI: Pakistan Petroleum Limited (PPL) and its partners have announced another gas and condensate discovery at its exploration well Faiz X-1 located in District Sanghar, Sindh. The PPL, operator of Gambat South Block with 65 per cent working interest (WI) along with its joint venture partners Government Holdings (Private) Limited and Asia Resources Oil Limited with 25 percent and 10 ... Read More »

Finance Ministry: Delayed payment of public dues adversely affects cash flow

ISLAMABAD: The Finance Ministry has admitted that persistent delays in the payment of public dues by public entities directly affects their cash flows. “Untimely payment of public dues such as electricity, gas, taxes etc put financial strain on the government because the government has to pick up their liabilities to keep these entities functional,” a well-placed source at Finance Ministry ... Read More »

Prolonged power outages: Elahi says not a single MW added to national grid

LAHORE: Pakistan Muslim League-Quid (PML-Q) leader Chaudhry Pervaiz Elahi, criticising the government over prolonged power loadshedding, has said that not a single megawatt of the electricity has been added to the national grid despite the tall claims of the government. Ch Pervaiz Elahi said that masses were in dire need of gas and electricity as such hours-long interruptions were making ... Read More »

1.75 billion cubic feet shortage: SNGPL says gas crisis to continue for 2 more days

LAHORE: The Sui Northern Gas Pipelines Ltd (SNGPL) has said that the shortage of natural gas will continue for two more days and likely to end till Tuesday (tomorrow). According to a SNGPL official, the boiler at Sui plant, which caught fire on Saturday, is being repaired and it will take further 24 to 36 hours for completion. The shortage ... Read More »

110 mmcfd gas reduction: SSGC shuts CNG stations for 4 days in next week

  KARACHI: Following an accident in a gas plant, Sui Southern Gas Company Limited has announced four-day CNG stations closure schedule for the next week. The pipeline and the boiler have been damaged and the plant has been shut down. Consequently, SSGC’s system is faced with the reduction of 110 mmcfd gas, due to which, our customers may face inconvenience. ... Read More »

1400mcf gas shortfall: SNGPL bans new connection, 140mcf gas discovered in Badin: Arif Hameed

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Arif Hameed has said that ban on new connections have been imposed due to the shortage of gas and SNGPL is facing an overall gas shortfall of 1400 million cubic feet (mcf). He revealed this while speaking at the Lahore Chamber of Commerce & Industry on Wednesday. LCCI President Ijaz A ... Read More »

1400mcf gas shortfall: SNGPL bans new connection, 140mcf gas discovered in Badin, says MD

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Arif Hameed has said that ban on new connections have been imposed due to the shortage of gas and SNGPL is facing an overall gas shortfall of 1400 million cubic feet (mcf). He revealed this while speaking at the Lahore Chamber of Commerce & Industry on Wednesday. LCCI President Ijaz A ... Read More »

1400mcf gas shortfall: SNGPL bans new connection, 140mcf gas discovered in Badin, says MD

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Arif Hameed has said that ban on new connections have been imposed due to the shortage of gas and SNGPL is facing an overall gas shortfall of 1400 million cubic feet (mcf). He revealed this while speaking at the Lahore Chamber of Commerce & Industry on Wednesday. LCCI President Ijaz A ... Read More »

TAPI pipeline, CASA-1000: Pakistan, Russia to cooperate in oil, gas, energy projects

MOSCOW: Islamabad and Moscow have agreed to further strengthen bilateral ties between the two countries by boosting cooperation in oil and gas exploration and other transnational energy projects, including CASA-1000 and Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline. During the third session of Pakistan-Russia Joint Working Group (JWG) on Energy, the Pakistani delegation – led by Ambassador to Russia Zaheer A Janjua – also ... Read More »

ECC plunders masses of Rs50b for gas companies, approves 23pc hike in tariff, Rs9.43/L POL cut?

ISLAMABAD: The federal government, after giving the masses Rs9.43/litre relief in petroleum, oil & lubricant (POL) prices, has shocked the nation as the Economic Coordination Committee (ECC) of the Cabinet has approved 23 per cent increase in gas tariff from Jan 1 to recover about Rs69 billion from the consumers and to give Rs50 billion to gas companies. The ECC ... Read More »

Govt to produce 1000MW from 46 oilfields of 280mmcfd, start 1st LNG Terminal in early 2015

ISLAMABAD: Minister for Petroleum and Natural Resources Khaqan Ababsi on Monday said that the ministry has discovered 46 oilfields with capacity of 280mmcfd dormant natural gas, which could generate up to 1000MW electricity. Talking to journalists in the Parliament, his ministry has forwarded to the CCI a summary for regularistaion of LPG prices. If CCI approves our suggestions after taking ... Read More »