The downturn caused by COVID-19 is projected to cause an annual 25 per cent decline in global demand for oilfield services (OFS), a Rystad Energy analysis shows
Exploration
Recoverable oil loses 282bn bbl as COVID-19 hastens peak oil
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will accelerate peak oil demand, put a lid on the exploration efforts in remote offshore areas and reduce the worlds recoverable oil by around 282bn bbl
Siemens partners with Total to develop greener LNG production
Siemens Gas and Power has partnered with supermajor Total to develop new concepts for the production of emission-friendly liquified natural gas (LNG)
Sparrows Group moves to purpose-built facility in Angola
Engineering and maintenance specialist Sparrows Group has re-located to a new purpose-built facility in Luanda, Angola to support its growing operations in Africa
Global gas demand to record largest decline in history: IEA
Global gas demand is expected to fall by four, or 150 billion cubic meters (bcm) – twice the size of the drop following the 2008 global financial crisis, according to the International Energy Agency report
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