Oil markets will “barely feel” the impact of additional production by Opec and its allies as demand ramps up across the world, Saudi Arabia’s energy minister said on Wednesday.
The current collapse in the price of crude oil is the most extreme so far this century. It has already had significant impact on the oil industry, leading to some declarations of force majeure (examples include licenses and contracts in Iraq and the Gulf of Thailand). The question we address here is: what will the impact be on upstream producing countries? And more specifically, how should upstream countries react if companies approach them for fiscal concessions, citing marginal economics?
Teresa Waddington, Shell's plant manager for the Fife NGL Plant, has used her animation skills to create a short video about the economics of oil and gas as society comes out of the Covid-19 lockdown. Check it out above.
A Covid-19 surge in the US creates a dilemma for oil producers going into crunch talks today and tomorrow.
Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.
More than a dozen countries with crucial global shipping hubs agreed to ease port and border restrictions for seafarers to help the more than 200,000 workers still stranded on vessels return home.
Eni’s CEO Claudio Descalzi has held talks with the head of the Government of National Accord (GNA) Fayez al Sarraj and the chairman of the National Oil Corp. (NOC) Mustafa Sanalla.
Decom North Sea has announced the first post-Covid event to be held in person for Aberdeen's oil and gas industry.
When Covid-19 gripped the UK North Sea oil industry, there was only one way for helicopter operators to manage the crisis – take it hour by hour, day by day.
Politians and union bosses have hit out at Chancellor Rishi Sunak’s Job Retention Bonus scheme, with some claiming it does “little to nothing” to affect growing North Sea job losses.
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Very few people instinctively know what to do during a crisis.
The upheaval brought on by the health pandemic has had wide-reaching impacts.
There are no cases of coronavirus at the Mozambique LNG site, in the country’s north, Australia’s RBR Group has reported.
The African Energy Chamber has launched a jobs portal in order to help the continent’s energy market bounce back.
Canada’s ReconAfrica has produced a technical evaluation on the entire Kavango Basin, in Namibia and Botswana.
French catering and facilities management firm Sodexo has revealed the Covid-19 pandemic has resulted in a near-one third cut in revenues for the firm.
North Sea medics have revealed that a lack of PPE, verbal abuse from “worried” riggers and working 17-hour shifts are some of the issues they had to tackle at the height of the Covid-19 crisis.
The Nigerian Content Development and Monitoring Board (NCDMB) is expanding the Nigerian Content Intervention (NCI) Fund to $350 million.
The coronavirus pandemic is of a scale and severity which none of us have seen before, but we shouldn’t take for granted the true value of the UK’s offshore oil and gas industry’s culture of safety.
Scottish and Dutch oil business and technology development experts are joining forces to create a new online catalogue to help fill the void left by the Covid-induced obliteration of the exhibitions circuit.
North Sea industry recently had a week free of evacuations of workers with Covid-19 symptoms from offshore platforms.
Nigeria plans to keep its liquefied natural supply at current levels despite prices near record lows, the opposite of what exporters from the US to Australia are doing.
An Aberdeen-based oil and gas duo who got together to form a new venture keeping business premises free of Covid-19 have already expanded to cover Inverness and Dundee.
US oilfield equipment firm Dril-Quip could be poised to make scores of Aberdeen staff members redundant in response to the crude price slump and Covid-19 pandemic.