The European Commission has unveiled a €750 billion recovery plan aimed at ensuring economic recovery from the impacts of the COVID-19 crisis.
At the 1st stage, about 50% of the staff will return to the offices by the end of June 2020.
Norwegian oil production during April 2020 was above predictions made by the Norwegian Petroleum Directorate (NPD) after a 3-month stint of falling short of expectations.
Oil producers may need to exert more efforts to lessen the coronavirus impact on the oil market because demand is not expected to recover quickly, given the amount of surplus and large volume of crude held in floating storage, the executive director of the International Energy Agency said , S&P Global Platts analysed.
The stringent measures adopted to contain COVID-19 pandemic in India has led to a sharp decline in natural gas demand due to fall in industrial and domestic consumption, says GlobalData, a leading data & analytics company.
Brazil oil & gas major Petrobras has decided to halt operations at 62 platforms located offshore Brazil due to the effects of the coronavirus and the low oil price.
The African Energy Chamber, a chamber of networks, transactions, and partnerships at the helm of Africa’s growing energy industries, has urged OPEC and OPEC+ to reach a deal on ending the oil price war which has sent the oil price tumbling to historic low levels.
One of the immediate effects of the coronavirus pandemic on the oil & gas industry has been a global glut of crude oil supply amid already weak demand, resulting in a significant drop in oil prices.
According to Confederation of Indian Industry (CII), with the spread of the coronavirus denting global oil prices, India, that imports 80% of its crude oil needs, is likely to save a whopping $45 billion on oil imports next financial year, Indian ETEnergyWorld reported.
OMV, one of the Black Sea oil blocks concessionaires, alongside ExxonMobil, has announced that it will decide whether or not to invest in offshore operations in the Black Sea in 2019. According to CEO Rainer Seele, the delay was caused by the late adoption of the Offshore Law.
Based on the tender results the reputable medical insurance company has been selected.
According to Korean Yonhap, South Korea may have to pay around 200 billion won ($175.9 million) annually for transit fees to North Korea if it imports Russian natural gas via a trans-Korea pipeline, an estimate by the state-run gas firm showed on October 23th.
Argentina plans to close a facility for importing liquefied natural gas (LNG), according to people with direct knowledge of the matter, after booming production from shale deposits in the Vaca Muerta region turned the country into a seasonal exporter.
Saudi Arabia is keen on investing in India’s downstream oil & gas sector and crude oil storage, energy minister Khalid Al Falih said on October 15th.
The goal is to take additional preventive measures to increase the counter-terrorist security of the company’s facilities.