Industry

Oil storage shortage fears expected to be realised

11931606484 e669bd8bf7 kSince oil prices crashed into negative territory earlier this week, Brent Crude prices have remained low at US$19.33 a barrel and WTI oil at US$10.01 a barrel at the time of writing

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‘US to take the biggest hit as global OCTG demand declines by 15 per cent in 2020’

random sky 7L1ONWHf4UI unsplashThe energy metals sector is bracing for a major backlash, as the COVID-19 pandemic and low oil prices are taking a heavy toll on global demand for OCTG (oil country tubular goods)

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Global oil industry reacts to first-ever negative oil prices

49638457986 dfe78004a4 oYesterday was a historic day for the oil industry with prices crashing and going into negative territory for the first time

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Saipem awarded Egypt’s first polybutadiene plant

saipem egypt 21 AprilSaipem, one of the leading a consortium with Egypt-based Petrojet, has been awarded a contract by Egyptian Ethylene & Derivatives Co (Ethydco) for the first polybutadiene-producing facility in Egypt, with an expected production capacity of 36,000 MT per year

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Seismic industry revenues to nearly evaporate in 2020, says Rystad Energy

34762180271 7a3c762682 cThe COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans

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