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 2
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.
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.
ABS, a global classification provider, will provide a classification for a series of self-elevating drilling units (SEDU) for Silver Eagle Global.
Offshore Energy Today’s most popular news of the past week.
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.
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.
Together with other Navingo platforms, Offshore Energy Today is moving into a new home, which will be launched in April 2020.
The effects of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans for this year, Rystad Energy has said.
Zamil Shipyards, part of Zamil Offshore Services, and lifting equipment specialist KenzFigee have signed a memorandum of understanding (MoU) for the local construction of KenzFigee offshore cranes and equipment.
Offshore Energy Today’s most popular news of the past week.
The COVID-19 pandemic has shaken energy markets to the core this year, creating incredible volatility for fuel prices. The one energy source that hasn’t blinked though is coal, a fuel that may come out stronger through the current crisis, a Rystad Energy analysis shows.
The coronavirus is turning our daily lives upside down. Contact with colleagues, customers, and suppliers has completely changed and many people are in isolation. One thing is certain; only together we can recover.
A contract for the Shelf Drilling-owned jack-up drilling rig operating in the Middle East has been changed to end sooner than previously agreed.
