UK operator INEOS has decided to postpone its scheduled maintenance for the North Sea Forties pipeline system (FPS) in a move that Rystad Energy calculates will add several hundred thousands of extra barrels to the market every day

Oil and gas company BP and shareholder group Follow This have agreed to work together with a view to preparing a shareholder resolution for BP’s Annual General Meeting in 2021

While the long-term impact is still unclear, the oil price crash is bleak news for oilfield service (OFS) companies, according to consultancy group Wood Mackenzie

The severity of the credit impact of lower oil prices on oil- and gas-producing sovereigns will vary from country to country, driving divergence in their creditworthiness, credit rating agency Moody’s Investors Service said in a report

The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans for this year