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