In a dramatic week for oil prices, with prices hitting negative territory for the first time in history and sending millions of barrels of oil into storage, market analysts have reflected on what this price slump might mean for the oil industry in the weeks and months ahead
Industry
Coronavirus risks hit the oil and gas supply chain
The momentum of coronavirus in the USA and key European oil and gas centres represents a critical supply risk for oil and gas operators around the world, according to a report by Andy Tidey from energy consultancy Wood Mackenzie’s consulting team
ABB technology to accelerate plant operation procedures
ABB has launched ABB Ability Augmented Field procedures with an aim to drive worker safety and efficiency across the energy sector including oil and gas
US faces largest ever drop in fracking activity, says Rystad Energy
The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is likely to cause the largest monthly drop in fracking activity ever recorded in the US, a Rystad Energy analysis shows
International Marine Contractors Association shares COVID-19 guidance
The International Marine Contractors Association (IMCA) continues to add to its dedicated COVID webpage a variety of information and links to be of use to its membership
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