Oil and Gas

EU Commission’s €750 billion recovery plan to make sustainable transportation a priority

The European Commission has unveiled a €750 billion recovery plan aimed at ensuring economic recovery from the impacts of the COVID-19 crisis.

Drilife GROUP

DrilLife gradually returns employees to the offices

At the 1st stage, about 50% of the staff will return to the offices by the end of June 2020.

Oil and Gas

After 3-month slump Norwegian oil output above expected in April

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 and Gas

IEA’s Birol says producers may need to do more to lift the oil market

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.

Oil and Gas

Measures to contain coronavirus outbreak weakens Indian LNG demand

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.

Oil and Gas

Petrobras to shut down 62 offshore platforms in Brazil

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.

Oil and Gas

African Energy Chamber urges OPEC and OPEC+ to end oil price war

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.

Oil and Gas

Coronavirus outbreak to hamper oil and gas projects in emerging economies

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.

Oil and Gas

Coronavirus: India to save $45 billion on oil imports next fiscal, says CII

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.

Drilife GROUP

DrilLife cooperates with oil and gas universities

Departments of innovation management and modeling of physical and technological processes of development have been created in higher education institutions.

Oil and Gas

Austrian OMV puts off decision on Black Sea offshore investments until 2019

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.

Drilife GROUP

As part of social support the Company management has signed Voluntary Health Insurance contracts

Based on the tender results the reputable medical insurance company has been selected.

NewsOil and Gas

KOGAS: Transit fees for trans-Korea gas pipeline estimated at over $175.9 million

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.

Oil and Gas

Argentina plans to close LNG importing facility

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.

Oil and Gas

Saudi Arabia keen on investing in India; assures India’s oil demand will be met

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.

Drilife GROUP

Counter-terrorism exercises have been held at the company’s enterprises

The goal is to take additional preventive measures to increase the counter-terrorist security of the company’s facilities.

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