The global LNG industry is about to face its first seasonal demand contraction since 2012, with demand in summer 2020 expected to fall 2.7 per cent or three million tonnes (Mt) y-o-y, said research and consultancy group Wood Mackenzie
Industry
Nigeria's Bonga oil terminal shut for maintenance
Nigeria’s Bonga crude oil export terminal has started routine maintenance, Reuters reported quoting an email from Shell Nigeria Exploration and Production Company (SNEPCO), the operator of the Bonga field
Lagos State cuts budget due to loss of revenue
Lagos, Nigeria’s commercial state and former federal capital, has reduced its 2020 budget by 14.7 per cent to US$2.40bn as revenue dipped due to the COVID-19 pandemic
Global oil and gas investment to fall by almost one-third in 2020, says IEA
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year, with global investment in oil and gas is expected to fall by almost one-third in 2020, according to the International Energy Agency (IEA)
Forex brokerage firm introduces US Oil Index and UK Oil Index
Axiory Global, a leading Global Forex Brokerage firm, is all set to enter a new era in oil trading with two brand new products that have been especially designed to combat negative oil prices: the US Oil Index and the UK Oil Index
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