The 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)
Industry
Global oil industry reacts to first-ever negative oil prices
Yesterday was a historic day for the oil industry with prices crashing and going into negative territory for the first time
Saipem awarded Egypt’s first polybutadiene plant
Saipem, 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
Seismic industry revenues to nearly evaporate in 2020, says Rystad Energy
The 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
Total revises capex guidance in the wake of drop in oil prices, says GlobalData
Total’s refining and petrochemical operations have sizeable exposure to COVID-19 affected countries and may experience a fall in capacity utilisation over the near term, said data and analytics company GlobalData
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