Huge demand drop forces oil price down further
Oil’s spectacular collapse deepened as widening global efforts to fight the spread of coronavirus were set to trigger the most severe contraction in annual oil demand in history.
china
President Xi orders China’s oil industry to ‘drill’
Oil’s historic price crash is presenting an uncomfortable dilemma to China’s energy majors: follow market signals to cut drilling, or heed President Xi Jinping’s orders to boost output.
Aberdeenshire oil worker quarantined in China over coronavirus fears
An Aberdeenshire oil worker under quarantine in China has said he “doesn’t know” when he will be able to return to the UK.
Wind turbine orders hit £60bn over 2019, Woodmac finds
Global wind turbine orders reached almost £60 billion in 2019, according to new research by Wood Mackenzie (Woodmac).
‘Risk’ coronavirus could delay Scottish offshore wind projects
Offshore wind project manager, Jamie Dempster, conceded yesterday that there could be delays to offshore wind farm projects in Scotland in the wake of the coronavirus outbreak.
Oil extends losses amid continuing coronavirus fears
Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on growth.
Saudi Aramco begins preparations for international listing
Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said.
Saipem keeping 2,000 workers at home due to deadly coronavirus
Italian oil and gas contractor Saipem has confirmed that more than 2,000 staff are working from home due to the coronavirus.
At London’s oil week, clues about demand will be all around
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 tips LNG shortfall by mid-2020s
Shell has stuck to its growth expectations for LNG continuing to predict an emerging shortfall of supply from around 2025.
International SOS reports acquisitions in good health
Aberdeen occupational health firm International SOS has seen its fair share of M&A activity over the years.
Tekmar’s business hit by ‘unpredictable and rapid’ effects of coronavirus
Subsea engineering group Tekmar has been forced to rollback its hopes of “record” revenues in 2020 due to the effects of the coronavirus.
Coronavirus predicted to hit China’s wind market by up to 50%
China's energy market could be badly hit as the coronavirus has halted production on the countries wind turbine installations, according to Wood MacKenzie (WoodMac).
West African flows squeezed as China dials down demand
The reduction in Chinese oil demand as a result of the coronavirus has taken its toll on African exports.
US men charged for Iranian oil-to-China plan
The US has charged five of its citizens with conspiring to sell sanctioned Iranian oil to China.
China stumps up loan for Rwandan hydropower
China has signed a concessional loan, via China Exim Bank, to support a hydropower plant in Rwanda.
Virus to slash Chinese LNG, but US tariff lift could save the day, Rystad says
The unseasonably warm weather in the northern hemisphere has undercut liquefied natural gas (LNG) demand and, combined with the steady rise of global supply levels, has resulted in record-low prices. Adding insult to injury, the coronavirus epidemic in China has reduced business and industrial activity, with January’s LNG imports dropping by about 10% year on year.
Coronavirus threatens Karish development
Energean Oil and Gas has issued a warning of the potential impact of the novel Coronavirus on the construction, and therefore timetable, of the hull for its floating production, storage and offloading (FPSO) vessel for its Karish field.
Saudi bid to cut output hits Russian resistance as OPEC experts meet
Saudi Arabia’s diplomatic push for an OPEC+ production cut ran into Russian resistance again on Tuesday, while delegates from the alliance met in Vienna to assess the fallout from the coronavirus.
Updated: Virus-induced oil price slump harks back to Sars, Aberdeen oil experts say
Oil and gas shares were hit yesterday by a drop in crude prices brought on by the deadly Coronavirus outbreak originating in China.
US-China deal provides boost for energy exports
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.
Reasons for optimism: Taking stock of carbon reduction achievements and possibilities
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
China sets up national pipeline company in major energy revamp
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.
Russia Opening Giant Gas Link to China as Putin Pivots East
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.
Opec+ hints at sticking with current oil cuts
OPEC and its allies sent more signals that they’ll stick with existing output cuts at their meeting next week.