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.
The European Union member states paid about 16.2 billion euros for the 108 billion cubic meters of liquefied natural gas they imported last year, according to the Commission’s latest gas market report. Last year’s LNG imports increased by a record 48 billion cubic meters or by 75 per cent when compa
The Marine Energy Event 2018 provided a market outlook for marine renewable energy projects – focusing on the developments in wave, tidal, ocean thermal, and salinity gradient power generation at that time. Watch the contributions from: Andre Hoogeveen (Project Manager, BAM), Martin Edlund (CEO, Min
Oil and gas company Neptune Energy has revealed its targets to reduce carbon and methane intensity by 2030 from the managed production of its low-cost, long life portfolio.
Liquefied natural gas (LNG) shipper GasLog and its New York-listed spinoff, GasLog Partners, have taken COVID-19 mitigation measures to ensure operations. GasLog noted in its statement there have been no known cases of COVID-19 infection amongst the group’s sea-going or shore-based personnel. Durin
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.
BP has underlined there will be no layoffs in the next three months as a result of coronavirus cost-cutting.
Polarcus has come up with a $15 million cost reduction plan to navigate the current uncertainty facing the marine seismic acquisition market due to the combined impacts of the COVID-19 pandemic and oil price volatility.
The worldwide natural gas sector has been impacted by a “triple whammy” of coronavirus, oil price crash and LNG oversupply, the consultancy Wood Mackenzie said in a report on Wednesday. “While the collapse of LNG prices towards US production break-evens was foreseeable, the narrative for the rest of
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.
Apart from the ongoing health crisis, the cruise industry is currently also faced with an economic crisis.
Cairn Energy has made significant reductions and deferrals regarding its 2020 program, representing an overall 23 percent reduction in capital expenditure for the year.
Sharp oil price drop and the global coronavirus pandemic have pushed Norwegian seismic survey company EMGS to operate in a low-cost setup to preserve sufficient liquidity.
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, cut costs by around $217 million, and delay acquisition projects.
