Saipem orders workers in affected coronavirus areas to ‘stay at home’
Italian oil and gas contractor Saipem has told workers in the affected coronavirus regions to "stay at home" and avoid "social interactions".
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.
Oil slumps most in two weeks as global virus spread quickens
Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.
LNG cargoes cancelled as virus compounds US export glut
A buyer of LNG has cancelled two cargoes from Cheniere Energy, the biggest US exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production.
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).
North Sea worker tests negative for coronavirus
A North Sea worker suspected of carrying the coronavirus has been given a clean bill of health.
Chrysaor and Taqa restrict North Sea travel in wake of coronavirus outbreak
The largest oil and gas producer in the UK North Sea has imposed offshore travel restrictions in the wake of the coronavirus outbreak.
North Sea worker quarantined on Taqa platform over coronavirus concerns
An offshore worker on a North Sea platform has been quarantined over concerns around the outbreak of the coronavirus.
Oil set for weekly gain after finding floor amid virus confusion
Oil headed for its first weekly gain since early January after prices found a floor amid uncertainty over how the coronavirus will play out and whether OPEC+ will respond with additional production cuts.
Chinese shipyards in the shadow of coronavirus
The short-term impact of the coronavirus has been seen almost entirely on demand, reducing China’s need for oil and LNG supplies.
BW scales back IPO plans on coronavirus chill
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.
Oil and gas-funded malaria doc urges calm over coronavirus
An oil and gas-funded malaria doctor, who lectured at Aberdeen University for 10 years, has urged people not to “panic” about the coronavirus.
Oil demand growth evaporates as virus keeps planes grounded, Rystad says
The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year.
Oil rebounds from one-year low in New York but emergence of glut looms
Oil bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market as traders looked to store excess crude on tankers.
Woodmac: Coronavirus and the impact on gas and LNG
As with all commodities, the impact of the novel coronavirus (2019-nCoV) on Chinese gas demand will depend on both the severity and length of time required to contain the outbreak.
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.
China LNG force majeure rejected as virus chaos sparks dispute
Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets.
A five-decade rivalry is playing out at OPEC+
Revenge, they say, is a dish best served cold.
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.
BP warns virus could wipe out a third of oil demand growth in 2020
BP Plc said the coronavirus outbreak threatens to wipe out a third of global oil-demand growth this year, a troubling prediction for prices already languishing at their lowest in a year.
How can a virus affect the oil price?
Since mid-January, the Brent Crude oil price dropped about 10%, from $65 to $57 as of Friday morning. The reason for this is the outbreak of the new coronavirus in China. How can a virus affect the price of oil?
Oil jumps after World Health Org says ‘no need’ for coronavirus trade bans
Oil jumped after the World Health Organization said there’s no need for travel and trade bans due to the coronavirus, but was still set for its worst month since May as the outbreak sapped the demand outlook.