Oil & Gas

Venezuela’s oil and gas sector sees worst crisis during 2020, says GlobalData

Venezuela’s oil and gas sector was already caught in a vicious cycle well before the COVID-19 outbreak created a world economic crisis. Even though there are several international companies still remaining in the country, they are not investing in any relevant manner and have minimum personnel. GlobalData Oil & Gas Analyst Adrian Lara notes that […]

Oil & Gas

Indian petrochemical industry battles demand loss amidst COVID-19 pandemic, says GlobalData

The wide-spread of COVID-19 has presented some new challenges to Indian petrochemical industry, as the nation-wide lockdown imposed in late March 2020 (eased over the past few weeks) has resulted in workforce shortages and supply chain disruptions across the country including weaker domestic demand. Most of the upcoming projects are largely concentrated in developed western […]

Oil & Gas

Excess of crude supply already suppressed from US market

Following Energy Information Administration’s release of official weekly data on stocks, demand and supply of US crude oil and refined products; Adrian Lara, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view: “The US oil market has already suppressed the excess of supply that was created at the end of March. The production cuts of April, May and June were quite severe, reaching around 2 million barrels per day (mmbd) and now with […]

Oil & Gas

Asia to account about half of global liquids storage capacity growth by 2024, says GlobalData

Asia is expected to lead the global liquids storage capacity growth, contributing about 49% of the total global capacity growth by 2024. The region is likely to add 56.8 million cubic meters (mmcm) of liquids storage capacity by 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Liquids Storage Industry Outlook […]

Oil & Gas

China to drive Asia’s liquids storage capacity growth by 2024, says GlobalData

China is expected to lead the liquids storage capacity growth in Asia, contributing about 40% of the total capacity growth in Asia by 2024. The country is likely to add 22.8 million cubic meters (mmcm) of liquids storage capacity by 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Liquids Storage […]

Oil & Gas

Middle East to remain key supplier of petrochemicals post-COVID-19

The Middle East is a key producer and supplier of polyolefins to demand-rich markets, specifically Asia. The region’s polyolefin exports account for around one-third of global polyolefin trade. However, the COVID-19 pandemic has resulted in lower petrochemical demand from key end-use sectors such as automotive and construction from both domestic and overseas markets, which has […]

Oil & Gas

Global ammonia industry shows signs of resilience despite COVID-19 impact

The global demand growth of ammonia is expected to remain sluggish between 2020 and 2030 due to a COVID-19 led reduction in economic activities in addition to flattening population growth, says GlobalData, a leading data and analytics company. Despite the severity of the impact of the pandemic, the top ammonia producers are likely to march […]

Oil & Gas

Asia dominates global LNG regasification capacity additions through 2024, says GlobalData

Asia is expected to witness the highest global liquefied natural gas (LNG) regasification capacity additions, contributing about 69% of the total regasification capacity additions by 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2020–2024 – China Spearheads Global Regasification Capacity Additions […]

Oil & Gas

Mexico to remain highly dependent on natural gas imports from the US

Even during the current COVID-19 crisis of lower economic activity, natural gas imports from Mexico have remained at levels of around 5,300 mmcfd during the first quarter of 2020. The US is the primary exporter of natural gas to Mexico, with volumes reaching an all-time high in July 2019 with 6.2 bcfd. Mexico is expected […]

Oil & Gas

China and India lead Asia’s regasification capacity additions by 2024, says GlobalData

China and India are expected to dominate Asia’s liquefied natural gas (LNG) regasification capacity additions, contributing nearly 60% of the regions’ total regasification capacity additions between 2020 and 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals, 2020–2024 – China Spearheads Global […]

Oil & Gas

Subsea production systems expand boundaries of deepwater hydrocarbon E&P, says GlobalData

Subsea technology has drastically improved in the last two decades in terms of functionality and reliability, with notable strides made in areas such as subsea processing, subsea storage, subsea-to-shore and power distribution. This has enabled upstream companies to expand the scale of their deepwater projects, says GlobalData, a leading data and analytics company. GlobalData’s latest […]

Oil & Gas

National oil companies in Latin America impacted by lack of partnerships due to COVID-19 pandemic

Latin America’s oil and gas sector is facing unprecedented challenges caused by a combined collapse in commodity prices and crude oil demand due to the COVID-19 pandemic. Most oil and gas companies in the region are state-owned therefore there are limited opportunities for these companies to establish successful partnerships with other operators. A sharing risk […]

Oil & Gas

Weatherford’s underperformance and financial stress leaves company highly exposed to 2020 turmoil, says GlobalData

Weatherford International is expected to be one of the most highly impacted of the major oil field service providers as a result of COVID-19 and weak commodity prices, says GlobalData, a leading data and analytics company. After seeing a recovery in service costs and an increase in activity over the last few years, the 2020 […]

Oil & Gas

Norwegian tax relief proposal could double near-term industry post-tax cash flow, says GlobalData

The temporary tax relief proposal announced by the Norwegian Government, and designed to ensure near-term investment in the country, could double industry post-tax cash flow in 2020 and 2021, which would increase company liquidity in the short term, according to leading data and analytics company GlobalData, a leading data and analytics company. GlobalData’s report, ‘COVID-19 […]

Oil & Gas

China dominates Asia’s refinery CDU capacity additions by 2024, says GlobalData

China is expected to dominate Asia’s refinery crude distillation unit (CDU) capacity additions, contributing about 80% of the regions’ total CDU capacity additions between 2020 and 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Refineries, 2020−2024 – Asia Dominates Global Refinery CDU Capacity and […]

Oil & Gas

Asia to spearhead global refinery CDU capacity additions through 2024, forecasts GlobalData

Asia is expected to have the highest crude distillation unit (CDU) capacity additions, contributing about 42% of the global CDU capacity additions by 2024, says GlobalData, a leading data, and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Refineries, 2020−2024 – Asia Dominates Global Refinery CDU Capacity and Capex Outlook’, reveals […]

Oil & Gas

MENA oil and gas pipeline sector still reeling from impacts of weak demand and COVID-19

The Middle East and African (MENA) oil and gas pipelines sector has been impacted due to low oil prices and weak demand as a result of COVID-19. The pandemic has affected the progress of several projects, forcing operators to opt for alternative strategies such as delaying project completion or reducing capital expenditures. While these approaches […]

Oil & Gas

Petrochemicals divestment another sign of BP’s clean energy shift, says GlobalData

Following today’s announcement that BP will sell its petrochemicals business to INEOS; Will Scargill, Managing Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the transaction rationale: “While many oil and gas companies have recently looked to petrochemicals integration as a way to drive value, BP’s petrochemicals unit […]

Oil & Gas

North American refiners amend strategies to tackle loss of fuel demand and COVID-19 outbreak, says GlobalData

Demand for transportation fuel has taken a huge hit on oil refineries since late March 2020 amid COVID-19 lockdowns. Being ill prepared to tackle such sudden demand erosion at such a short notice, these refiners had no choice but to limit production, revisit business portfolios, slash capital expenditure and stall avoidable projects to conserve cash. […]

Oil & Gas

Argentina’s new subsidy plan for oil and gas not enough to increase production, says GlobalData

Following announcements from Argentina’s Government to implement a new plan for subsidizing oil and gas production in face of the current COVID-19 sector’s crisis; Adrian Lara, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the current events: “The impact of COVID-19 in Argentina has resulted in […]

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Oil & Gas

Venezuela’s oil and gas sector sees worst crisis during 2020, says GlobalData

Indian petrochemical industry battles demand loss amidst COVID-19 pandemic, says GlobalData

Excess of crude supply already suppressed from US market

Asia to account about half of global liquids storage capacity growth by 2024, says GlobalData

China to drive Asia’s liquids storage capacity growth by 2024, says GlobalData

Middle East to remain key supplier of petrochemicals post-COVID-19

Global ammonia industry shows signs of resilience despite COVID-19 impact

Asia dominates global LNG regasification capacity additions through 2024, says GlobalData

Mexico to remain highly dependent on natural gas imports from the US

China and India lead Asia’s regasification capacity additions by 2024, says GlobalData

Subsea production systems expand boundaries of deepwater hydrocarbon E&P, says GlobalData

National oil companies in Latin America impacted by lack of partnerships due to COVID-19 pandemic

Weatherford’s underperformance and financial stress leaves company highly exposed to 2020 turmoil, says GlobalData

Norwegian tax relief proposal could double near-term industry post-tax cash flow, says GlobalData

China dominates Asia’s refinery CDU capacity additions by 2024, says GlobalData

Asia to spearhead global refinery CDU capacity additions through 2024, forecasts GlobalData

MENA oil and gas pipeline sector still reeling from impacts of weak demand and COVID-19

Petrochemicals divestment another sign of BP’s clean energy shift, says GlobalData

North American refiners amend strategies to tackle loss of fuel demand and COVID-19 outbreak, says GlobalData

Argentina’s new subsidy plan for oil and gas not enough to increase production, says GlobalData

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