business

May 7, 2024

Forced gas cut hits $30m in revenue losses in six months

A representational image showing A technician working at a gas field. — AFP/FileLAHORE: The exploration and production companies have suffered a revenue loss of over $30 million in the last six months due to forced gas curtailment, with associated oil and LPG curtailment totaling 130,000 barrels and 7,000 MT, respectively.The curtailment, which has reached 6,000 mmscf , has resulted in a daily revenue loss of $2 million, with critical wells already loaded up, leading to a permanent loss of...