As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
Seismic provider Polarcus has noted another project cancellation, this time in West Africa.
Pharos Energy has set out plans to spend around $45 million in 2020 but has suspended production guidance from Egypt in response to the oil price pressures.
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
Malaysia has revoked a cross-border agreement with Brunei to jointly develop fields along the Malaysian-Brunei maritime boundary.
Oil traders are gathering in London for what’s normally a week of lavish parties, dealmaking and market chatter. China’s coronavirus means this year’s events will be more subdued – and fewer in number – than usual. The talk will be about absent friends and uncertain demand.
Shell has stuck to its growth expectations for LNG continuing to predict an emerging shortfall of supply from around 2025.
The short-term impact of the coronavirus has been seen almost entirely on demand, reducing China’s need for oil and LNG supplies.
The reduction in Chinese oil demand as a result of the coronavirus has taken its toll on African exports.
The US has charged five of its citizens with conspiring to sell sanctioned Iranian oil to China.
Oil and gas shares were hit yesterday by a drop in crude prices brought on by the deadly Coronavirus outbreak originating in China.
Indian Oil Corp. (IOC) has signed a memorandum of understanding (MoU) with Ghana’s National Petroleum Authority (NPA) on the implementation of an LPG policy.
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
A deal by the US and China goes some way to ending the two-year trade war, with particular support in the agreement for agriculture and energy exports.
Pharos Energy’s Egyptian assets have increased production slower than expected but should overtake the company’s Vietnamese volumes this year.
Confidence continues to return for offshore work, with offshore seismic companies reporting improved performance from contract work, while multi-client continues to lag.
Equinor and Rosneft have sanctioned a full development of the North Komosomolskoye field in Russia.
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
One of the hottest trades this year across energy markets is proving one of the trickiest to profit from.
Decommissioning Southeast Asia’s aging oilfields offers a vast but challenging market opportunity.
China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand.
Petrobras is in a state of transformation, company officials said at a press conference in London, with an eye on selling down assets and tackling debt – in tandem with major expansion plans.
When Indian Oil Corp. (IOC) was launched it focused on the downstream and has subsequently expanded into the upstream, while also moving into petrochemicals.
Wellpro Group struck a deal to enter the Middle East in May, with an aim for leveraging an existing footprint to speed the way.
The world’s biggest natural gas exporter and one of the globe’s top consumers of the fuel cement their energy co-operation on Monday with the launch of Russia’s giant Power of Siberia pipeline to northern China.