The stringent measures adopted to contain COVID-19 pandemic in India has led to a sharp decline in natural gas demand due to fall in industrial and domestic consumption.
Subsea clean energy specialists EC-OG have received £1.6m from an investment consortium led by Par Equity.
With coronavirus (Covid-19) being declared a global pandemic by the World Health Organization (WHO) and the oil price war resulting from the OPEC+ disagreement, the oil and gas industry in Asia is facing an unprecedented uncertainty.
This week, Greater New Orleans, Inc. is recognizing the 10-year anniversary of the Deepwater Horizon oil spill. The final settlement resulted in Louisiana receiving over $7.29 billion in funding for coastal restoration.
A digital twinning and smart data asset management tool from Bureau Veritas, a world leader in testing, inspection and certification services, can save between 9% and 15% on total decommissioning project costs, research has revealed.
More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the Covid-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts. New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels.
Following the news on April 10th, that the OPEC+ agreement, which will cut production by ten million barrels, is contingent on Mexico’s consent to also cutting production;
Following the historic fall of the West Texas Intermediate (WTI) futures price for May delivery into negative territory, going as low as negative US$37.6 per barrel;
Opinion by Merrill Matthews
As the number of cases rise and business sentiment tumbles, Sub-Saharan Africa is likely to see a slowdown in upstream activity for ongoing projects and final investment decisions (FIDs) anticipated in 2020, according to GlobalData, a leading data and analytics company.
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments.
China, one of the largest consumers of transportation fuel globally, had a lot at stake when it became the ground zero for coronavirus (COVID-19) and subsequently announced countrywide lockdown to arrest the spread. This resulted in sharp decline in the domestic fuel demand, forcing some of the state-owned refiners to make deep production cuts.
The U.S.-China Phase 1 Trade Agreement should be reinterpreted for the long term so both countries can benefit from a multibillion-dollar energy component of the deal — a reinterpretation that can lead to job creation in the U.S. energy sector — say experts at Rice University’s Baker Institute for Public Policy, Ken Medlock and Steven Miles, fellows at the Center for Energy Studies at the Baker Institute.
NOIA President Erik Milito issued the following statement after OPEC+ and the G20 reached a deal to cut approximately 10 million barrels per day of oil production:
Royal Dutch Shell (Shell) has published its 2019 Sustainability Report and annual Payments to Governments Report. The publications further demonstrate the steps Shell is taking to increase transparency around activities that are important to investors, governments and civil society.
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