Ecuador expects its crude production to be "significantly" below initial estimates by the end of 2020 due to budget cuts for state oil companies and the rupture of two primary pipelines earlier this year, Energy Minister Rene Ortiz said.
In its 2020 budget, the government had expected production of 543,000 barrels per day ( bpd) of oil, but Ortiz told a local radio station that production would close at 480,000 bpd per year. In 2019, the South American country 's crude production averaged some 531,000 bpd, official data shows.
Ecuador's cash-strapped government revenue was affected by the coronavirus pandemic, resulting in a $600 million cut in funding devoted to oil production.
In a period of heightened tensions between Moscow and Warsaw, Poland 's dominant gas company, PGNiG, said its largest supplier, Russia's Gazprom, had proposed raising prices for its gas in an existing long-term delivery contract.
Based on the existing long-term deal, PGNiG, which asked Gazprom earlier this month to lower the delivery price, imports most of the gas it resells from Gazprom. In its statement late on Monday, state-run PGNiG, which has said it will not renew the deal that runs until 2022, said that the proposal to renegotiate the price was groundless.
Reuters reported in line with the national PDVSA data on tracking and internal papers at the OPEC, the OPEC nation's approved crude exports may resume their operations in the coming weeks, with at least 18 oil tankers expected to load oil for exportation from Venezuela.
Oil exports from Venezuela fell to their lowest levels since the 1940s in October, as some of the remaining customers of Petroleos de Venezuela halted trade with the company ahead of a deadline imposed by the United States.
TC Energy said that after the approval of its repair and restart plan by the US, its Keystone pipeline has returned to operation. Administration of Pipeline and Hazardous Materials Protection (PHMSA).
Since Oct. 29, the pipeline has been shut down. Last week, federal regulators ordered Keystone Pipeline to remain shut down until TC Energy, based in Calgary, identified the source of a breach in northeastern North Dakota that leaked an estimated 383,000 gallons of oil.
On Monday, after reversing a five-week pattern of rising inventories at Cushing, Oklahoma, the delivery point for West Texas Intermediate (WTI), the closure of the 590,000-bpd Keystone system indirectly appeared to have a steady effect on oil prices.
P&GJ reported that the 27-mile Callahan Intrastate pipeline, which underpins natural gas supply expansion in two Florida counties, has been completed by affiliates of Chesapeake Utilities and TECO Peoples Gas.
Chesapeake's Peninsula Pipeline Company and SeaCoast Gas Transmission, an affiliate of Tampa-based Peoples Gas, jointly developed the project.
The new supply source would allow both the Florida Public Utilities Company (FPUC) of Chesapeake and Peoples Gas to extend the distribution service for natural gas in this growing region of Florida. FPUC and Peoples Gas previously partnered together to launch Nassau County's natural gas operation in 2012.
Enbridge's $2.6 billion Line 3 pipeline replacement project was approved by Minnesota regulators, a critical step in the regulatory process that paves the way for a U.S. Decision of the Army Corps of Engineers on federal permits.
The Minnesota Pollution Control Agency (PCA) signed the project, including the 401 Water Quality Certification, which was strongly opposed by environmental activists, and the Department of Natural Resources (DNR) approved the last eight state permits required to begin construction.
The new Line 3 has an estimated power of 760,000 bpd, however, Enbridge has stated that it will operate at about half (400,000 bpd), until the portion of Minnesota is approved, built and delivered.
Reuters reported that Former Alaska Governor Bill Walker said this week that he was a founding member of Alaska Gasline & LNG LLC (AGLNG) that aims to take over and complete the Alaska LNG export project by March 2028.
The Alaska Gasline Development Corp (AGDC) is constructing the LNG project, which involves an 807-mile (1,300-km) pipeline from the North Slope to the Nikiski Liquefaction Plant on the Kenai Peninsula.
In 2016, when Walker was governor, the State decided to take over the LNG project from North Slope oil producers. AGLNG said that AGDC received 14 non-binding letters of interest from Asian companies, including Tokyo Gas Co Ltd.
The Chartered Institute of Taxation of Nigeria (CITN) has highlighted the key role played by the Nigerian Maritime Administration and Safety Agency (NIMASA) in attempting to speed up tax revenue from the country's economic development drive to become a prime source of government finance.
Simplice commended NIMASA 's commitment to maritime industry development by promoting the Federal Government 's Facility to Do Business Initiative and infrastructure expansion, saying it is key to national development.