Oil & Gas

European refinery sector continues to grapple with weak demand and COVID-19

The market for transportation fuel has been nearly wiped out due to the nationwide lockdowns imposed across the continent since March 2020. With inventories piling up rapidly, European refiners are faced with challenges such as increased inventory costs and the deterioration of fuel products such as gasoline and jet fuel over long storage duration. Sudden […]

Oil & Gas

Lowering oil & gas price assumptions an important lever towards cleaner investment for BP post-COVID-19, says GlobalData

Following BP’s announcement that it is revising long term price assumptions as part of its strategy development; Will Scargill, Managing Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the company’s latest steps: “BP’s decision to revise downwards its long-term oil and gas price assumptions is an important […]

Oil & Gas

China to lead global LNG regasification capacity additions from new-build projects with 25% share by 2024, says GlobalData

China is expected to lead with 25% capacity share in the global liquefied natural gas (LNG) regasification industry from new-build (planned and announced) projects between 2020 and 2024, says GlobalData, a leading data and analytics company. GlobalData’s report ‘Global LNG Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating […]

Oil & Gas

Bakken producers desperate to shut in wells until crude oil price recovers

Bakken production is expected to fall through 2020, however it will remain above 1million barrels of oil equivalent per day (mmboed) at the end of this year, according to GlobalData a leading data and analytics company. Rig count has declined steeply since early 2020 and was further aggravated by the economic slowdown due to COVID-19, […]

Oil & Gas

China and US lead new-build capacity growth in global LNG regasification and liquefaction sectors, says GlobalData

China and the US and are expected to lead the capacity growth in the global LNG liquefaction and regasification sectors from planned and announced (new-build) projects between 2020 and 2024, says GlobalData, a leading data and analytics company. GlobalData’s report,‘Global LNG Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All […]

Oil & Gas

North American LNG sector continues to struggle against weak economic outlook and COVID-19 outbreak

Reduced demand due to economic slowdown, coupled with the COVID-19 outbreak, has led to cancellations of long-term liquefied natural gas (LNG) supply contracts and cargo deferments by importing counties. This has led to low utilisation of liquefaction capacity, primarily in the US – one of the key suppliers of the super-chilled gas globally. Furthermore, the […]

Oil & Gas

MENA LNG companies likely to put off upcoming projects due to economic slowdown, says GlobalData

Reduced demand due to economic slowdown in the Middle East and Africa (MENA) region, fueled by the COVID-19 outbreak, has led to long-term liquefied natural gas (LNG) supply contract cancellations and cargo deferments by importing countries. This has resulted in low liquefaction capacity utilization. The cascading impact of global LNG supply overhang coupled with reduced […]

Oil & Gas

Oil and gas companies are gravitating towards sustainability practices, says GlobalData

Oil and gas companies are facing increasing scrutiny for their carbon intensive operations. With the passing of the 2015 United Nations Climate Change Framework, the demand for the oil and gas industry to curb its carbon emissions is becoming even stronger. Companies that implement concrete measures to reduce their environmental impact are best placed to […]

Oil & Gas

Weak financial outlook and the impact of COVID-19 led to the downfall of Whiting Petroleum

The outbreak of the COVID-19 pandemic has intensified the challenges faced by Whiting Petroleum, leading to a mediocre overall performance. As a result, in a matter of four months, stocks of Whiting Petroleum nose-dived from US$7 to less than US$1 and the company eventually filed for bankruptcy. Kumar Nishant, oil and gas analyst at GlobalData, […]

Oil & Gas

After drastic drop of US crude production in April and May, the system starts to balance

Following the release of data by the Energy Information Administration (EIA) Weekly Petroleum with information on refined products supplied and stocks weekly changes crude oil; Adrian Lara, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the current events: “Production cuts in US shale over the last […]

Oil & Gas

COVID-19 pandemic curtails the investment wave in petrochemical industry

With the impact of COVID-19 outbreak globally and the downturn in oil and gas market prices, companies are announcing project delays. The US had the largest number of project delay announcements by mid-May, followed by China, and construction works at Shell Beaver County Complex and utility works at the Formosa St. James Parish Complex were […]

Oil & Gas

North Ameican oil and gas pipeline sector continues working out strategies against the weak economy and COVID-19, says GlobalData

Weak economic outlook coupled with the impact of COVID-19 has hit the oil and gas industry in general, the North American oil and gas pipeline sector being no exception. As a result, major upcoming pipeline projects either being stalled or delayed in the region. Some of the major projects that have been stalled or delayed […]

Oil & Gas

Refiners worldwide hit hard by fuel demand destruction caused by lockdowns and stringent travel restrictions

Stringent travel restrictions worldwide have wiped out the market for fuel transportation and long storage durations have led to the deterioration of products such as gasoline and jet fuel, as well as increased inventory costs for refiners. As a result, refiners across the world have been hit hard and forced to cut production rate despite […]

Oil & Gas

Australia’s domestic-focused E&Ps are better positioned to cope with current global market volatility, says GlobalData

The intrinsic uncertainty surrounding the duration of beleaguered global oil and gas demand and low oil prices has led to varied responses from E&P companies to cope with the current economic climate. Analysis of the impact on the top Australian E&P companies reveals that domestically-focused operators are positioned at the lowest risk to the short-term […]

Oil & Gas

USL48 production might ramp up sooner than expected, says GlobalData

After almost three months since the start of the COVID-19 pandemic, GlobalData estimates crude oil production in the USL48 to reduce from an average of approximately 10.3 million barrels of oil per day (mmbd) in January 2020 to 8.2 mmbd in December. Consequently, the reduction in associated gas resulted in a decline in natural gas […]

Oil & Gas

Natural gas outlook remains bleak through 2020 and affects major gas-producing shale operators, says GlobalData

Natural gas prices have struggled in early 2020, hitting record lows due to US dry gas production being at a record high – which has impacted major shale plays such as the Appalachian basin. Although the reduction in associated gas from crude oil production across major oil basins has provided support to the natural gas market, it does […]

Oil & Gas

Total’s upstream business better placed to weather 2020 market volatility than its European peers, says GlobalData

Total SA’s (Total) robust upstream business tops the European majors’ peer group when assessed against the impact of COVID-19 and the current oil price volatility, says GlobalData, a leading data and analytics company. Daniel Rogers, Upstream Oil and Gas Analyst at GlobalData, comments: “Our latest research indicates that Total’s upstream business is well positioned to […]

Oil & Gas

APAC LNG companies revisiting strategies to tackle economic slowdown fueled by COVID-19, says GlobalData

Liquefied natural gas (LNG) imports by the world’s top three consumers – Japan, China and South Korea, and other Asia-Pacific (APAC) countries such as India have taken a hit due to reduced demand and economic slowdown fueled by the COVID-19 outbreak. Against this backdrop, LNG firms are re-examining their strategies to combat the financial slowdown. […]

Oil & Gas

COVID-19 triggers delays in projects and investment decisions in global LNG liquefaction sector, says GlobalData

The global liquefied natural gas (LNG) liquefaction sector is reeling under the pressure of falling oil and gas prices, weak LNG demand and poor global economic outlook. Consequently, LNG developers have started relooking at their strategies and capex plans for 2020. This could lead to postponement of financial investment decisions (FIDs) and construction delays of […]

Oil & Gas

Global oil and gas contract activity reports downtrend amid COVID-19 outbreak during Q1 2020

The global oil and gas industry has witnessed a significant slowdown in the number of oil and gas contracts and contract value, which is largely attributed to the decline in crude oil prices and reduced demand amid the COVID-19 outbreak. Furthermore, many oil and gas companies are reducing CAPEX/OPEX exposure in this non-conducive market. These […]

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Oil & Gas

European refinery sector continues to grapple with weak demand and COVID-19

Lowering oil & gas price assumptions an important lever towards cleaner investment for BP post-COVID-19, says GlobalData

China to lead global LNG regasification capacity additions from new-build projects with 25% share by 2024, says GlobalData

Bakken producers desperate to shut in wells until crude oil price recovers

China and US lead new-build capacity growth in global LNG regasification and liquefaction sectors, says GlobalData

North American LNG sector continues to struggle against weak economic outlook and COVID-19 outbreak

MENA LNG companies likely to put off upcoming projects due to economic slowdown, says GlobalData

Oil and gas companies are gravitating towards sustainability practices, says GlobalData

Weak financial outlook and the impact of COVID-19 led to the downfall of Whiting Petroleum

After drastic drop of US crude production in April and May, the system starts to balance

COVID-19 pandemic curtails the investment wave in petrochemical industry

North Ameican oil and gas pipeline sector continues working out strategies against the weak economy and COVID-19, says GlobalData

Refiners worldwide hit hard by fuel demand destruction caused by lockdowns and stringent travel restrictions

Australia’s domestic-focused E&Ps are better positioned to cope with current global market volatility, says GlobalData

USL48 production might ramp up sooner than expected, says GlobalData

Natural gas outlook remains bleak through 2020 and affects major gas-producing shale operators, says GlobalData

Total’s upstream business better placed to weather 2020 market volatility than its European peers, says GlobalData

APAC LNG companies revisiting strategies to tackle economic slowdown fueled by COVID-19, says GlobalData

COVID-19 triggers delays in projects and investment decisions in global LNG liquefaction sector, says GlobalData

Global oil and gas contract activity reports downtrend amid COVID-19 outbreak during Q1 2020

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