Mexico says it made deal with Trump for output cuts
Mexico said it has reached an agreement with OPEC+ for deep oil-production cuts, after an intervention from U.S. President Donald Trump resolved an overnight impasse.
Mexico said it has reached an agreement with OPEC+ for deep oil-production cuts, after an intervention from U.S. President Donald Trump resolved an overnight impasse.
EnQuest has insisted its day-to-day operations are not “materially affected” by the coronavirus outbreak.
The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still not restore the desired market balance. Just hours before delegates stepped into the (again virtual) closed meeting, Brent was fluttering in the mid-$30s, seemingly oblivious to the fact that even if a 10 million bpd cut is agreed upon, or even in the best-case scenario 15 million bpd if the US, Canada, Norway and Brazil join forces, an excess of supply of the magnitude of 5-10 million bpd will remain, and will need to be stored.
A historic multilateral deal to lower global oil production and stabilise prices, led by record cuts from Saudi Arabia and Russia, is at risk as Mexico refuses to agree to the proposed curbs.
North Sea workers must accept ‘accountability’ for their own health and safety in order to halt the spread of Covid-19 offshore.
None of us have been in a situation remotely like this before. The rules and the facts are changing daily and it can be overwhelming to try to keep up with developments.
In an ideal world, organisational change management is planned – for example, the introduction of a new HR system, the opening of a new branch or adopting new technologies.
It’s no secret that the situation the world finds itself in is an unprecedented one.
Transocean has said it is “taking precautions” after two crew members tested positive for Covid-19 on one of its rigs offshore UK.
Around 80 jobs have been saved at Altrad Services after union pressure saw the firm reinstate workers under the government’s furlough scheme.
A Highland onshore wind farm operated by EDF Renewables are set to redirect local community funding towards the coronavirus pandemic response.
Rivers Governor Nyesom Wike has ordered Caverton Helicopters to halt operations in the state, as the row over a flight into Port Harcourt escalated.
Looking after the wellbeing of our colleagues in the global energy workforce during the coronavirus pandemic is, in a sense, business as usual for all of us at Opito.
EnQuest today announced deeper cuts to its spending plans as it published full-year results showing it lurched into the red in 2019.
A managing partner of Anderson Anderson & Brown (AAB) has warned too many businesses may “fall through the cracks” of Covid-19 support.
Safety fears have been raised about the potential spread of Covid-19 due to a lack of guidance given to oil and gas workers using Aberdeen’s new safe haven hotels.
While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.
Russia will be able to outlast Saudi Arabia if the pair fail to clinch a deal to cut production to prop up oil prices during OPEC+ talks on April 9.
Kosmos Energy has cut spending for a second time in a month and confirmed delays at the Tortue LNG project, where it works with BP.
Sasol will shutdown its Natref refinery as of Arpil 9 in response to the “unprecedented decline” in fuel demand, stemming from South Africa’s lockdown aimed at halting the spread of coronavirus.
Rivers State Governor Nyesom Wike has personally overseen the arrest of two pilots from Caverton Offshore Support Group for illegally moving people into the Nigerian state.
Texo Accommodation, part of Texo Group of companies, has launched a range of modular products to meet demand for increased safety and social distancing during the Coronavirus pandemic.
TechnipFMC has said employee safety is of “paramount importance” after confirming a virus outbreak on board one of its North Sea vessels.
BP has declared force majeure on its Tortue LNG project with Golar LNG, saying it would not be ready to receive the floating unit in 2022 as a result of the coronavirus pandemic.
A worker who was airlifted from the Ninian Southern North Sea platform last week has tested positive for coronavirus.