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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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Kuwait to lead the Middle Eastern refinery capacity growth by 2024

Supported by its Al-Zour project, Kuwait is expected to lead the refinery capacity growth in the Middle East by 2024, with the anticipated addition of 615 thousand barrels per day (mbd) contributing to around 31% of the region’s total growth. This is expected to be closely followed by Saudi Arabia, with contributions of 24%, says GlobalData, a leading data and analytics company. GlobalData’s report, ‘Refining Industry Outlook in Middle East to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries’, reveals that refining capacity in the Middle East is expected to increase by around […]
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South America’s offshore production to surpass North America’s by 2024, says GlobalData

Despite the effects of COVID-19 on global demand and supply, the outlook for South America’s offshore production is on track to surpass volumes coming from North America by 2024. While several projects in Brazil and Guyana have taken final investment decision (FID), and are less likely to be postponed or suspended, offshore US and Mexico tell a different story. Key projects in offshore US have already been delayed as a result of COVID-19 […]
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Morgan Stanley and Evercore were top M&A financial advisers by value and volume in oil and gas sector for Q1-Q3 2020

Morgan Stanley and Evercore have emerged as the top mergers and acquisitions (M&A) financial advisers in the oil and gas sector for Q1-Q3 2020 by value and volume, respectively. A total of 1,115 M&A deals were announced in oil and gas sector during the period, according to GlobalData, a leading data and analytics company. According to GlobalData’s M&A report, ‘Global and Oil & Gas M&A Report Financial Adviser League Tables Q1-Q3 2020’, […]
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