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
A regional development agency from Taranaki, New Zealand, has published a paper on the offshore wind potential in the waters off Taranaki coast.
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 d
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
VTT, partners will assess how suitable fuel oils made from biomass and waste plastics are for ship diesel engines.
Imports at major U.S. retail container ports dropped to their lowest level in five years in March, data from the National Retail Federation and Hackett Associates shows. Imports are projected to remain significantly below normal levels through early summer as the coronavirus pandemic continues. “Eve
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.
Blanking of sailings triggered by the demand drop from the coronavirus pandemic could result in a USD 23 billion collective loss for container carriers in the worst-case scenario, Copenhagen-based consultancy Sea-Intelligence predicts. This scenario is based on the freight rates decline experienced
Petrofac is joining other providers in actions responding to the unprecedented market conditions. As a result, Petrofac will reduce its capex by 40%, reduce salaries across the company, and reduce its personnel by about 20%.
Australia-based oil and gas company Otto Energy has taken measures to mitigate the effects of the low oil price environment.
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.
This session zooms out to allow a view on the world surrounding the offshore wind industry. It will discuss social and environmental risks in wind turbine supply chains and the position and scope of offshore wind in the global offshore energy industry. Watch the contributions from: Maria van der Hei
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
