Oil industry company MOL Group has stated that the operational and capital expenditures will be reduced materially to preserve cash and to allow MOL to manage through challenging times even in the case of a longer lasting crisis
Exploration
US oil rig count to fall by 65 per cent: Rystad Energy
Rystad Energy said the US horizontal oil rig count is poised to drop by an estimated 65 per cent due to the combined global effect of the COVID-19 pandemic and the ongoing oil price war
Oil and gas M&A deal value decreased in February 2020: GlobalData
Total oil and gas industry M&A deals in February 2020 worth US$5.6bn were announced globally, according to GlobalData’s deals database
MG Vowgas wins local content company of the year award
To demonstrate the level of support the Nigerian content development has garnered from the federal government, Sylva Timipre, minister of state for petroleum emphasised the importance government attaches to ensuring that there is in-country capacity development in all segments of the oil and gas industry
South Sudan’s petroleum minister holds talks with OPEC to find solutions on oil price war
While oil prices rebounded last week on hopes of successful negotiations between Saudi Arabia and Russia, they went back down again following the negotiations’ delay
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