Oil storage shortage fears expected to be realised
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
Industry
Global OCTG demand to decline by 15 per cent in 2020: Rystad Energy
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
APICORP demonstrates shareholder support and long-term commitment
The Arab Petroleum Investments Corporation (APICORP) announced that its general assembly ratified a landmark increase in callable capital to US$8.5bn at its annual general meeting (AGM), as well as a significant increase in authorised and subscribed capital
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