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Petronas has revealed that its subsidiary, PC Myanmar (Hong Kong) Limited, has declared force majeure on its Yetagun field, located offshore Myanmar.
Petronas has revealed that its subsidiary, PC Myanmar (Hong Kong) Limited, has declared force majeure on its Yetagun field, located offshore Myanmar, “due to depletion of gas production”.
The decision was made following challenges in well deliverability that resulted in the production rate dropping below the technical threshold of the offshore gas processing plant, Petronas noted, adding that PC Myanmar (Hong Kong) Limited has temporarily ceased production at the Yetagun field until further notice.
“Prior to the cessation of production, Yetagun field was producing well below the technical turndown rate of its facilities,” PC Myanmar (Hong Kong) Limited Country Head, Liau Min Hoe, said in a company statement.
LNG deliveries expanded the most in a year.
(Bloomberg) Liquefied natural gas deliveries expanded the most in a year as Asia and Europe refilled inventories drained over the winter, and as pandemic-ravaged economies slowly begin to reopen.
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020, ship-tracking data compiled by Bloomberg showed. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns.
While European imports rebounded as dwindling stockpiles and strong spot prices attracted cargoes from U.S. export projects, Asian importers anchored the growth. Chinese shipments surged more than 30% in March amid an effort by the nation’s new pipeline operator to open terminals to gas distributors. Supplies to Bangladesh and Pakistan also rose on the back of spot buying.
The U.S. government program for selling drilling rights on federal land is so fundamentally broken that changes could be needed, according to Interior Secretary Deb Haaland.
(Bloomberg) The U.S. government program for selling drilling rights on federal land is so “fundamentally broken” that changes could be needed to address climate change and ensure taxpayers get a greater value from extracted oil and gas, Interior Secretary Deb Haaland said Friday.
“The American taxpayers deserve to have a return on their investment,” Haaland said, stressing that the public lands managed by Interior are a shared asset.
“They don’t just belong to one sector or one industry. They belong to the outdoor economy, they belong to the kids who take their first breath, on a hike out on a trail,” Haaland told reporters. “They belong to everyone, and it’s our job to make sure that every voice is heard with respect to how we manage those lands.”
by Bloomberg
|Monday, April 05, 2021
KKR & Co. agreed to pay $3.37 billion for a 20% stake in a Sempra Energy unit comprising the U.S. company s infrastructure assets.
(Bloomberg) KKR & Co. agreed to pay $3.37 billion for a 20% stake in a Sempra Energy unit comprising the U.S. company’s infrastructure assets, including a liquefied natural gas project and a Mexican renewables and pipelines operator.
It’s the latest example of a broader push among U.S. utilities eschewing diversification to focus on providing electricity and gas to homes and businesses. The deal values Sempra Infrastructure Partners at about $25.2 billion, including expected asset-related debt, Sempra said Monday in a statement.
OPEC announced that it has welcomed two new initiatives by the Kingdom of Saudi Arabia that aim to reduce emissions and the region's environmental footprin.