Oil prices have crashed as the coronavirus pandemic has slashed global demand and becacuse of the oil price war between Saudi Arabia and Russia
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COVID-19 and oil price war could slash two-thirds of 2020 oil and gas project sanctioning
If price of Brent crude averages around $30 per barrel in 2020, Rystad Energy estimates that total project sanctioning will be reduced to just $61 billion
Oil & gas digital platform secures $2 million investment
Proteus is a cloud-based work management system that allows companies to find the right people for projects
ASCO acquires waste disposal company NORM Solutions
The acquisition reflects ASCO’s overall strategy to continually strengthen its specialist waste and decommissioning capabilities
Zamil Shipyards and KenzFigee sign MoU for KSA crane services and construction
The Memorandum of Understanding covers a mutual cooperation in the Kingdom of Saudi Arabia for the provision of offshore crane services and local construction of KenzFigee offshore cranes and equipment
Saudi Aramco develops emergency plans to ensure reliable supply: CEO
Amin Nasser said that the plans would help ensure ongoing operations despite border and transit route shut downs.
China’s crude reserves to reach 1.15 billion barrels in 2020: Wood Mackenzie
The country is building up strategic reserves while oil prices are low
Rosneft CEO questions need for OPEC+ agreements
Igor Sechin reportedly questioned whether there was a point to cutting production if other producers simply filled the gap
Largest oil glut in history just months away: Rystad Energy
A report by Rystad Energy found that an imbalance of 10 million barrels per day would hit the market in April
Looking to oil for ease of pain: Saxo Bank
Saxo Bank head of commodity strategy Ole Hansen comments on the coronavirus and the oil market