Search results for: oil price war

111029 results

A list of search results

  • 9 April 2020
    Business developments & projects, Project & Tenders

    Prosafe, a provider of semi-submersible accommodation rigs, is in talks with operators related to potential contract changes for its units.

  • 10 April 2020
    Market outlooks, Outlook & strategy

    OPEC, Russia, and allies are on the verge of ending the oil price war in an effort to save the oil industry which, in addition to the oil price war consequences, suffered even more as the coronavirus pandemic further curbed the oil demand, creating a whirlwind of adverse effects. However, the allies are still waiting on Mexico to join the production cuts pact.

  • 10 April 2020
    Business & Finance, Business developments & projects, Market outlooks, Outlook & strategy, Project & Tenders

    The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and day rates slashed.

  • 3 April 2020
    Exploration & Production, Infrastructure, Market outlooks, Outlook & strategy

    In the downturn of 2020, global exploration & production operators will only be able to cut supply chain costs by up to 12%, a Rystad Energy analysis shows.

  • 31 March 2020
    Exploration & Production, Infrastructure, Market outlooks, Outlook & strategy

    Southeast Asia’s rig market, which was poised for growth in 2020, is now set for a decline. Several oil companies have already made significant cuts to their 2020 capex budgets due to the impact of the Covid-19 pandemic and the ongoing oil price war, a Rystad Energy’s analysis shows.

  • 9 April 2020
    Business & Finance, Exploration & Production

    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, according to energy intelligence firm Rystad Energy.

  • 9 April 2020
    Exploration & Production, Market outlooks, Outlook & strategy

    At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows.

  • 31 March 2020
    Exploration & Production

    Southeast Asia’s rig market, which was poised for growth in 2020, is now set for a decline. Several oil companies have already made significant cuts to their 2020 capex budgets due to the impact of the Covid-19 pandemic and the ongoing price war, a Rystad Energy’s analysis shows.

  • 31 March 2020
    Exploration & Production, Infrastructure, Market outlooks, Outlook & strategy

    Under Rystad Energy’s updated base case scenario of $34 per barrel in 2020 and $44 per barrel in 2021, global capital expenditure for exploration & production firms is expected to drop by up to $100 billion this year, about 17% versus 2019 levels.

  • 13 April 2020
    Business & Finance, Business developments & projects, Exploration & Production, Market outlooks, Outlook & strategy

    After four days of negotiations OPEC, Russia, and allies have agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic.

  • 7 April 2020
    Business & Finance, Business developments & projects, Outlook & strategy

    The African Energy Chamber, a chamber of networks, transactions, and partnerships at the helm of Africa’s growing energy industries, has urged OPEC and OPEC+ to reach a deal on ending the oil price war which has sent the oil price tumbling to historic low levels.

  • 25 March 2020

    More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.

  • 12 March 2020

    The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad Energy impact analysis revealed

  • 26 March 2020
    Business & Finance

    Italian oil and gas company Eni has decided to reduce its capex and opex for this year and the next as a result of the coronavirus pandemic and the oil price war.

  • 25 March 2020
    Business & Finance, Market outlooks, Outlook & strategy

    More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.

  • 26 March 2020
    Business & Finance, Exploration & Production

    Eni has decided to reduce its capex and opex for this year and the next as a result of the coronavirus pandemic and the oil price war. The reductions are mainly related to Eni’s Upstream activities.

  • 3 April 2020
    Business & Finance, Outlook & strategy, Vessels

    Saudi Arabia’s decision to flood the market with crude oil at a time when demand is in doldrums amid coronavirus pandemic is about to create a massive supply-demand imbalance, says BIMCO’s Chief Shipping Analyst, Peter Sand. Liquid fuels production and consumption will be imbalanced during much of 2020 with total production estimated at 102.2 million […]

  • 31 March 2020

    Under Rystad Energy’s updated base case scenario of $34 per barrel in 2020 and $44 per barrel in 2021, global capital expenditure for E&P firms is expected to drop by up to $100 billion this year, about 17% versus 2019 levels.

  • 15 April 2020
    Exploration & Production, Infrastructure, Market outlooks, Outlook & strategy

    The effect of the COVID-19 pandemic and the ongoing oil price war will likely cause the cancellation of more than half of the world’s planned licensing rounds, according to energy intelligence firm Rystad Energy.

  • 12 March 2020
    Business & Finance

    Apache Corporation has announced multiple actions in response to current challenges in the oil market featuring an oil price war between Saudi Arabia and Russia following the OPEC+ breakdown, the effect of the coronavirus outbreak on global oil demand, and the ‘historic’ plunge of oil prices this week.

  • 11 March 2020

    UAE’s oil giant ADNOC has decided to step up its efforts and produce more oil, pledging to increase supply to over 4 million barrels per day in April 2020 following the collapse of the OPEC+ agreement. 

  • 26 March 2020
    Business & Finance

    Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent and cut costs by around $217 million.