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Brazil’s Petrobras eyes restart at oil ships hit by coronavirus

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(Reuters) - Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday. Petrobras Exploration and Production...
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China crude oil runs hit 15-mth low as virus cripples demand

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(Reuters) - China’s daily crude oil throughput in March sank to a 15-month low with state refiners maintaining deep output cuts as the coronavirus pandemic erodes demand, but there are some signs of recovery as the country begins to...
News

Global oil demand to fall by 9.3 million barrels per day – IEA

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The International Energy Agency (IEA) says that even if worldwide COVID-19 travel restrictions were eased during the second half of 2020, they expect that global oil demand will fall by 9.3 million barrels per day this year, erasing almost...
News

Brazil is world’s top dollar saver on lifting costs per barrel of oil equivalent – Rystad Energy

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Global currencies have depreciated against the US dollar, reeling from the impact of the COVID-19 outbreak and the oil price slump. As most operating expenses in oil and gas production are realized in local currencies, a Rystad Energy analysis...
News

Guyana among handful of countries where oil production is expected to grow in 2020 – OPEC

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Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline in prices and challenging market conditions being fueled by the COVID-19 pandemic. Non-OPEC liquids production growth...
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Brazil offshore oil rigs hardest hit by COVID-19

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There have been 126 confirmed cases of the coronavirus among oil and gas workers in Brazil, including 74 people who were recently on offshore oil platforms, regulator ANP told Reuters on Tuesday, exposing an outbreak far worse than previously...
News

Chevron exits Azerbaijan in billion dollar plus deal

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Chevron Corporation (NYSE: CVX) announced on Thursday that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Export Route Pipeline) and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline located in...
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Saipem withdraws 2020 guidance over growing market uncertainty

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Italian multinational oilfield services company Saipem said on Wednesday the growing uncertainty caused by the COVID-19 pandemic might cause a sharp demand contraction and consequently a delay of some its projects. Saipem said its Board of Directors resolved to withdraw...
Exploration

Brazil’s Petrobras shutting down 62 offshore platforms

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(Reuters) - Brazil’s state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins. Petrobras, as the company is known, had previously announced the...
News

Unforeseen events delaying offshore developments in Guyana

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Approval for ExxonMobil’s 3rd development project at the Stabroek Block offshore Guyana remains stalled due to what the country’s Department of Energy (DE) has described as recent ‘national and international events’. The spread of the novel coronavirus and an election...
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Symmetry Group Inc. acquires majority stake in ISS Guyana advancing local content in Guyana’s oil & gas sector

Symmetry Group Inc. (SGI) and Inchcape Shipping Services (ISS) today announced a strategic joint venture in Guyana, with SGI...

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