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Only another £6 to go with MNG @£2 and I'll be back to even Stephens
Still believe in this stock and have been here for some years. Comments like just lost £340 for every 6000 shares , make me break into a small smile , If I had only had a stock that lost me only £340 per 6000 shares !! Currently with some gritted teeth my Portfolio is down 50k So cheer up there is always some one worst off.
19 May 2022
Petrofac to deliver feed for first large-scale waste to biofuels plant
Petrofac, a leading international service provider to the energy industry, has been awarded the FEED for Protos Biofuels Ltd’s (Protos) first commercial-scale municipal waste advanced biofuels plant. The project is being developed by Advanced Biofuels Solutions Ltd (ABSL) and Greenergy and will be located within the HyNet Northwest Cluster, one of the UK’s leading industrial decarbonisation projects.
Petrofac will deliver the front-end engineering design (FEED) as part of collaborative project with other leading players in the waste-to-value sector. Our scope includes integrating the gasifier, furnace, processing equipment and other technology into the front-end design. The plant will also incorporate ABSL’s RadGas process technology and will be the first commercial scale plant to produce grid-grade biomethane and biohydrogen from municipal waste.
Due for completion in 2025, the project will divert 150,000 tonnes of household waste annually, the amount produced by a large town, from landfill and incineration, converting it into renewable low carbon fuel. By using waste as a feedstock, the plant will avoid 160,000 tonnes of carbon dioxide emissions each year, equivalent to the emissions of 107,000 cars, through the replacement of fossil fuel with waste-based fuel alternatives and the capture of carbon dioxide.
Jon Carpenter, Vice President, New Energy Services, Petrofac, said:
“We are pleased to be able to deploy our team’s expertise, particularly in the early design and process engineering disciplines to help ABSL and Greenergy advance this exciting waste-to-fuels plant. We look forward to working with all parties on the project to help bring it to life”.
Petrofac to support first-of-a-kind geothermal study
Petrofac, a leading international service provider to the energy industry, will be supporting deep geothermal specialist, CeraPhi Energy in a first-of-a-kind geothermal study looking at the repurposing of oil and gas wells using CeraPhi’ s advanced closed loop system.
The study, supported by the Net Zero Technology Centre in Aberdeen, will cover the initial phase of a staged process to determine how retrofitted wells can reduce the carbon footprint of an operating platform. The study will use EnQuest’s Magnus Platform as the base case, for which Petrofac is also operations and maintenance contractor.
Petrofac’s topside engineering team will work collaboratively with CeraPhi’s subsurface engineering team to incorporate CeraPhi’s advanced closed loop technology, CeraPhiWell™, that is designed to fit into old wells to extract heat from deep underground by a downhole heat exchanger. Depending on the results of the study, the heat produced could be used as direct power and/or heating or cooling for utilities and other services, reducing the overall carbon emissions of the facility.
Jonathan Carpenter, Vice President, Petrofac New Energy Services, said:
“Our engineering specialists are looking forward to working with CeraPhi on this pioneering study, which has the potential to unlock a completely new way of generating renewable power using existing oil and gas infrastructure. It could be a game-changer in our efforts to decarbonise the oil and gas production process and has wider applicability for clean base load power as well.”
Karl Farrow, CeraPhi, Founder and CEO, said:
“This award is a statement to how the oil and gas industry is transitioning in the decarbonisation of the oil and gas extraction process.If we can use old non-productive wells to produce clean baseload energy, why can’t we make those same wells produce carbon free energy when they are drilled, reducing the carbon footprint during the oil and gas extraction process and ensuring the maximum use of these assets through a complete energy transition over decades.”
Craig Nicol, Project Manager, NZTC, said:
“We are delighted to be supporting CeraPhi with this ground-breaking project that if proven could become a serious contributor to the renewable energy mix. The industry is facing a significant challenge to decommission wells that have come to the end of their production, this novel approach has the potential to extend their life whilst delivering on our net zero targets.”
Quite unpredictable at this moment in time with world events , expect rise in SP until ex-divi date next week hopefully 230 ish. I don't think the buy back will have any effect on the SP at the moment although may have a stabilising influence on SP after ex-divi . Solid stock for your pennies in these uncertain times. Good Luck all and pray that, Good overcomes Evil, Amen.
Whilst my holding in GGP is somewhat stagnant. Some time ago I mentioned XTR which has returned 60% since the tip ( I got a lot of flack over) for those of you interested and give your goldie portfolio some flexibility have a look at Cobra Resources.
Q you won't be seeing £2 again because you hate this rotten share and you've told us you would sell in the £1.80's So please go. Ps I don't believe you own any shares at all . You've been ****ging us off for so long and now you've changed your mind. (until that is we fall back a little, hope not)
The state-of-the-art OQ liquefied petroleum gas (LPG) plant has been officially inaugurated in Salalah, Southern Oman.
Petrofac representatives joined a ceremony led by Sayyid Theyazin bin Haitham al Said, Oman’s Minister of Culture, Sports and Youth, that was attended by members of the Omani Royal Family, ministers, undersecretaries and other dignitaries.
Dr Khalid Al Jahwari, Petrofac Country Manager – Oman, said:
“This is an important energy sector project that supports the national economy. It was completed in the midst of the global pandemic, and everyone involved should be proud of their resilience, drive and resourcefulness. Thank you to our teams for looking out for each other, keeping people safe and healthy and delivering for our partners above all else.”
The plant processes natural gas liquids (NGLs) extracted from gas networks into LPG. In 2017 Petrofac was awarded the engineering, procurement and construction (EPC) contract for the project – its first in the region of Salalah. The scope of work included construction of the LPG unit and associated facilities, including tie-ins to existing pipeline infrastructure, together with LPG storage and jetty facilities at the Port of Salalah.
The facility has been built to the highest standards in safety, quality, and technical integrity. At its peak, more than 4,800 people worked onsite, with more than 15 million work hours without any lost time incident. Creating in-country value was a key consideration, from conception through to final delivery. Across the project Petrofac engaged with more than 300 locally based businesses, including many small and medium sized enterprises.
To find out more on the project, major milestones, its importance for the region, and meet some of the people involved in making it a success, visit here.