Page 38 - Floating Storage News Today

Investegate announcements from Vaalco Energy Inc, Binding LOI for FSO at Etame

VAALCO Energy has signed a binding letter of intent (LOI) with World Carrier Offshore Services Corp to provide and operate a Floating Storage and Offloading (FSO) unit at VAALCO’s Etame Marin field offshore Gabon.

A major setback to gas supplies twice and that too in summer results in poor public image of a political govt, official says.

During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition.

Kafkaesque economic decisions ISLAMABAD: With normal channels of decision-making at a standstill and the cabinet trying to show its productivity through holding longer and more frequent meetings than ever before, Pakistan’s bureaucracy has assumed a Kafkaesque quality. The adjective Kafkaesque refers to perplexing, irrational bureaucratic practices, after the Prague-born author, Franz Kafka. His stories described individuals going through horrifying experiences caused by absurd officialdom an...

LNG terminals: open market pipedream Though investors are ready, there is uncertainty about customers and allied infrastructure ISLAMABAD: Yet again power load-shedding and gas shortage in the country. This time it is due to drydocking of Engro’s liquefied natural gas (LNG) terminal. Sceptics argue that better planning and coordination and timely decisions could have prevented or at least eased the problem. Engro will be able to replace its Floating Storage and Regasification Unit (FSRU) by a...

Without power July 3, 2021 According to Federal Minister for Energy Hammad Azhar, the current electric loadshedding is because of two major reasons: delay in dry docking and low water outflow from Tarbela Dam. It is, however, safe to assume that the delay in dry docking of LNG-based Floating Storage and Regasification Unit (FSRU) is gross mismanagement on the part of the relevant ministry. This process could have been easily done during the period when gas demand is low. June proved to be the...

Qatar LNG supply in limbo as govt drags feet on dry dock July 2, 2021 LAHORE: An indecisive Federal Ministry of Energy dragged its feet on carrying out dry docking of most efficiently run Liquefied Natural Gas (LNG) based Floating Storage and Regasification Unit (FSRU), missing several low demand periods during mild weather and lockdowns despite repetitive reminders, The News learnt on Thursday. As a last resort, Qatar was contacted to allow filled FSRU in place of outgoing ship with a view t...

Oil refining policy to be presented to cabinet soon Senate panel told policy will attract huge investment in refining sector APP July 01, 2021 ISLAMABAD: The Senate Standing Committee on Petroleum was told on Wednesday that the new oil refining policy, which mainly focused on attracting maximum investment in the sector, would soon be presented to the federal cabinet for approval. The policy would attract huge investment in the oil refining sector by offering tax rebate to the local and foreign...

THE shutdown of a gas field in Sindh for annual maintenance and the unplanned dry-docking of Engro’s RLNG terminal has forced the country’s two gas utilities — SSGC and SNGPL — to cut fuel supplies to most industrial units, including cement factories and fertiliser plants, as well as to captive power plants and the CNG sector. The supplies have been discontinued in Sindh, Punjab and KP for one week to July 5. SSGC had already been rationing supplies to the transport sector and captive p...