The work scope for BV begins in January 2022 for a period of three years
Bureau Veritas (BV), a world leader in testing, inspection, and certification, has been awarded a three-year contract by Ithaca Energy to deliver verification (including remote) certification and classification services, and environmental verification and audit services for six assets in the UK North Sea. Under the terms of the contract, BV will deploy its industry-leading digitalised […]
Gas markets, which have been rising for weeks, are now entering a more balanced phase as a result of spot market cautiousness and tightening fundamentals
The marginal decline of Asian spot LNG prices since last week was caused by more cautious Chinese buyers, who have largely retreated from the spot market given forbiddingly high prices. However, prices didn’t have to dive deep as the decline in spot purchases was balanced by new reported supply disruptions – most recently from Bontang […]
Oil prices fell today on API’s report of a surprise build in US inventories last week
With OPEC+ reluctant to act and increase supply further amid the market tightness, the only downside to oil prices could come from inventory data this week – and that’s exactly what moved markets today. While it does not reverse the overall bullish momentum going forward, the latest forecast by the API on swelling US crude […]
Experts will gather at 2PM GST to discuss some of the most vital topics impacting the future of the oil and gas sector
As the oil and gas industry continues to transform, we are bringing together experts from across the industry to discuss the future for upstream at the second edition of the Oil & Gas Future Forum. The forum is virtual and free to attend, and will comprise three panels starting at 2PM GST–join us to hear […]
Echoing statements made by HRH the Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud at the original announcement of Saudi Green Initiative, the UK’s Prime Minister Boris Johnson has said the world must go “further and faster” to combat climate change by the middle of the century. In a statement to the inaugural Middle […]
Speaking at the Middle East Green Initiative Summit in Riyadh, BlackRock chairman and CEO Larry Fink predicted the next 1,000 global companies valued at more than one billion dollars will be sustainable companies. Mr Fink said: “It’s my belief that the next 1,000 unicorns – companies that have a market valuation over a billion dollars […]
As the oil and gas industry continues to transform, we are bringing together experts from across the industry to discuss the future for upstream at the second edition of the Oil & Gas Future Forum. The forum is virtual and free to attend, and will comprise three panels starting at 2PM GST tomorrow–join us to hear from […]
John Kerry, the US Special Presidential Envoy for Climate, has urged governments and the private sector to work together on climate action while speaking at the Middle East Green Initiative in Riyadh. Special Envoy Kerry said today: “I would just say to everybody, that this is not about politics. This is not about strategic balance […]
The OPEC Fund for International Development and Asian Infrastructure Investment Bank (AIIB) have signed a US$200 million loan agreement with the National Bank of Egypt (NBE), Egypt’s largest commercial bank, to support the bank’s on-lending to hard and soft infrastructure sub-projects. The financing package includes a US$150 million loan from AIIB and a US$50 million […]
Oil prices continue to gain this week as global fuel supply tightness seems to fail to meet the needs of the growing energy demand, with more upside anticipated going forward
The global energy supply crunch continues to show its teeth, as oil prices extend their upward march this week, a result of traders pricing in the ongoing rise in fuel demand – which amid limited supply response is depleting global stockpiles. The relative calamity of Covid-19 and return to normalized mobility amid an energy […]
