Oil & Gas

African midstream operators withdraw investment plans amid COVID-19 turmoil

The COVID-19 pandemic and weak global economic outlook, coupled with fragile energy demand has resulted in a decline in oil and gas prices. The all-pervasive nature of these circumstances has also impacted the African midstream sector, forcing several major midstream oil and gas operators to revisit their strategies and reduce capital expenditure (capex) for 2020. As […]

Oil & Gas

Crude oil production in Eagle Ford shale expected to decline by 10% during 2020–2021, says GlobalData

Shale operators slashed their planned capital expenditure (capex) for 2020 to account for the oil price crash, which inevitably led to decline in drilling and completion activity in the Eagle Ford play. Hence, crude oil production is expected to drop by 10% year-on-year (YOY) in 2021, says GlobalData, a leading data and analytics company. GlobalData’s […]

Oil & Gas

Nigeria to spearhead Africa refinery capacity additions by 2024

Nigeria is expected to drive the refinery capacity growth in Africa by 2024, contributing around 71% of the region’s total growth. Nigeria is likely to add 1.5 million barrels per day (mmbd) of refinery capacity by 2024, says GlobalData, a leading data and analytics company. GlobalData’s report, ‘Refining Industry Outlook in Africa to 2024’, reveals […]

Oil & Gas

Asia to lead global vinyl chloride monomer capacity additions by 2024, forecasts GlobalData

Asia is forecast to lead the global vinyl chloride monomer (VCM) capacity additions, which is likely to increase from 26.91 million tonnes per annum (mtpa) in 2019 to 31.25 mtpa in 2024 at an average annual growth rate (AAGR) of 3%, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Global Vinyl Chloride […]

Oil & Gas

Global shale industry on a recovery path after 8.1% production decline in 2020

Global shale production has taken a drastic hit in 2020, where shale oil is expected to drop by 11.7% year-on-year and shale gas production may see a 4.5% fall, according to projections by GlobalData, a leading data and analytics company. Market demand for oil and gas plummeted globally from March 2020, following the COVID-19 pandemic. […]

Oil & Gas

LSFO emerging as preferred bunker fuel following IMO 2020 regulation

Despite its relatively high cost, both shipping companies and refiners are placing bets on low sulfur fuel oil (LSFO, 0.5% sulfur m/m) for marine transportation. As a result, LSFO sales in Singapore, the world’s largest bunkering hub, have increased from 174 thousand tons in September 2019 to 2,896 thousand tons in September 2020, says GlobalData, […]

Oil & Gas

Denmark’s oil and gas exploration ban strengthens its position as a leader towards lower carbon future

Following the news that Denmark has voted to end new oil and gas exploration in the Danish North Sea; Daniel Rogers, Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the situation. “The news follows in the footsteps of other decarbonising countries that have or plan to implement […]

Oil & Gas

Around three quarters of North American midstream projects that got impacted are in the US

Over 70% of the total midstream projects that have been impacted are in the US. Consequently, several oil and gas companies with midstream operations have had to revisit their business strategies and capex plans for 2020 amid dwindling revenues. With LNG buyers’ preference shifting more towards short-term or spot contracts, bagging long-term supply contracts has […]

Oil & Gas

European oil companies lead way in renewable strategy with top six having over 28GW capacity in pipeline

European international oil companies (IOCs) are leading the way in terms of progressing strategies for renewable power growth, ahead of US players that have not, so far, made the same switch. The top six European firms have over 28GW of renewables capacity in the pipeline, with BP, Total and Equinor making up over 70% of […]

Oil & Gas

Global oil and gas contract activity report marginal increase during Q3 2020

The global oil and gas industry has witnessed a marginal increase in the number of oil and gas contracts from 1,104 in Q2 2020 to 1,136 in Q3 2020. This is in spite of challenges such as crude oil process and the COVID-19 outbreak, says GlobalData, a leading data and analytics company. The industry recorded […]

Oil & Gas

Asia to lead global phenol capacity additions by 2024, says GlobalData

The global phenol capacity is poised to see considerable growth by registering a total growth rate of 17% by 2024. The phenol capacity is likely to potentially increase from 14.21 million tonnes per annum (mtpa) in 2019 to 16.64 mtpa in 2024. Among the regions, Asia leads the capacity additions and the region’s phenol capacity […]

Oil & Gas

Despite downturn, US shale operators finding new growth opportunities, says GlobalData

Following the early disruption caused by the crude price crash, the US shale industry has gradually started to adapt to the new pricing environment. Since the third quarter of 2020, a series of M&As were executed in the industry. Consequently, the US shale drillers have developed a renewed optimism and hence, could sense some new […]

Oil & Gas

Pace of economic recovery and demand dynamics to determine Southeast Asian plastics industry growth, says GlobalData

The COVID-19 continues to wreak havoc across the globe causing severe damage to the growth of the global and regional economies. Consequently, the Southeast Asian companies in the plastics industry are forced to downsize their capital expenditure (capex) for 2020 as a measure to sustain during the crisis. They are even compelled to undertake rationalization […]

Oil & Gas

US to drive LNG liquefaction capacity growth in North America by 2024

The US is expected to lead the liquefied natural gas (LNG) liquefaction capacity growth in North America by 2024, accounting for around 92.6% of the region’s total growth. Approximately 144.6 million tonnes per annum (mtpa) is likely to be added by the US by 2024, says GlobalData, a leading data and analytics company. GlobalData’s report, […]

Oil & Gas

Global refinery maintenance activities are gradually getting back on track

Refiners across the globe were severely impacted by COVID-19, which destroyed demand, reduced operations in several refineries and even compelled them to suspend operations. Despite unfavorable conditions in the first three quarters of 2020, refiners are getting back to normalcy with seemingly improving market scenario, says GlobalData, a leading data and analytics company. In the […]

Oil & Gas

China to dominate liquids storage capacity additions in Asia through 2024, says GlobalData

China is expected to witness the highest liquids storage capacity additions in Asia, contributing about 32% of the region’s total capacity additions through 2024, says GlobalData, a leading data, and analytics company. GlobalData’s report, Global Capacity and Capital Expenditure Outlook for Liquids Storage, 2020-2024 – Asia Spearheads Global Liquids Storage Capacity Growth, reveals that China […]

Oil & Gas

Biden win could test oil markets

Following the recent news that the US Democratic Party candidate, Joe Biden, looks to have won the 2020 US Presidential Election after a tight race against Republican incumbent, Donald Trump; Indrajit Sen, Oil & Gas Editor at MEED, part of GlobalData, offers their view: “Joe Biden’s stated intention to lift sanctions on Iran could mar efforts […]

Oil & Gas

Asia to spearhead global liquids storage capacity additions through 2024, says GlobalData

Asia is expected to witness the highest global liquids storage capacity additions, contributing around 46% of the global liquids storage capacity additions by 2024, says GlobalData, a leading data and analytics company. GlobalData’s report, Global Capacity and Capital Expenditure Outlook for Liquids Storage, 2020-2024 – Asia Spearheads Global Liquids Storage Capacity Growth, reveals that Asia […]

Oil & Gas

Demand from packaging and healthcare segments to help polyolefins market stay afloat amid COVID-19

The global polyolefins market is expected to decline in 2020 due to weaker end-market demand from applications such as construction, automotive and industrial. However, the pandemic-driven feeble demand is partially offset by strong and increased demand from sectors such as packaging, fast-moving consumer goods (FMCG), and healthcare, says GlobalData, a leading data and analytics company. When asked about the weak market demand for polyolefins, David […]

Oil & Gas, Uncategorised

India, Russia and Iran to drive global ammonia capacity additions by 2030, says GlobalData

The global ammonia capacity is poised to see considerable growth by 2030, potentially increasing from 253.34 million tonnes per annum (mtpa) in 2019 to 289.83 mtpa in 2030, registering a total growth of 23%. India is expected to drive and contribute 18% of the global capacity additions by 2030, says GlobalData, a leading data and […]

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Oil & Gas

African midstream operators withdraw investment plans amid COVID-19 turmoil

Crude oil production in Eagle Ford shale expected to decline by 10% during 2020–2021, says GlobalData

Nigeria to spearhead Africa refinery capacity additions by 2024

Asia to lead global vinyl chloride monomer capacity additions by 2024, forecasts GlobalData

Global shale industry on a recovery path after 8.1% production decline in 2020

LSFO emerging as preferred bunker fuel following IMO 2020 regulation

Denmark’s oil and gas exploration ban strengthens its position as a leader towards lower carbon future

Around three quarters of North American midstream projects that got impacted are in the US

European oil companies lead way in renewable strategy with top six having over 28GW capacity in pipeline

Global oil and gas contract activity report marginal increase during Q3 2020

Asia to lead global phenol capacity additions by 2024, says GlobalData

Despite downturn, US shale operators finding new growth opportunities, says GlobalData

Pace of economic recovery and demand dynamics to determine Southeast Asian plastics industry growth, says GlobalData

US to drive LNG liquefaction capacity growth in North America by 2024

Global refinery maintenance activities are gradually getting back on track

China to dominate liquids storage capacity additions in Asia through 2024, says GlobalData

Biden win could test oil markets

Asia to spearhead global liquids storage capacity additions through 2024, says GlobalData

Demand from packaging and healthcare segments to help polyolefins market stay afloat amid COVID-19

India, Russia and Iran to drive global ammonia capacity additions by 2030, says GlobalData

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