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.
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
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
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.
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.
Africa-focused oil and gas company Lekoil has approved the immediate and accelerated implementation of the company’s general and administrative (G&A) cost-reduction measures due to the significant drop in oil prices.
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.
