Dulles Wang, director, Americas gas research at Wood Mackenzie, said the company’s H1 2020 outlook anticipates an oil price rebound as demand starts rising post-coronavirus, but a second large-scale lockdown would deepen the recession, and possibly delay any rebound in GDP until 2022
Industry
COVID-19, oil crash hit Petrofac revenue
Oilfield service provider Petrofac reported a loss of US$78mn in the first half of the year and decided to continue to suspend dividend payments and thus not to pay an interim dividend in 2020 to conserve cash
Fluor JV achieves final provisional turnover of clean fuel megaproject facilities in Kuwait
Fluor Corporation said its joint venture with Daewoo Engineering & Construction and Hyundai Heavy Industries has completed the final interim turnover of the Kuwait National Petroleum Company’s (KNPC) Mina Abdullah Package 2 (MAB2) clean fuel project in southern Kuwait
Sparrows Group signs partnership agreement with J.D. Neuhaus Group in Middle East
The Sparrows Group has signed a long-term partnership agreement to become the only original equipment manufacturer (OEM) service provider for market-leading machine construction company, J.D. Neuhaus Group (JDN) in the Middle East
WWC, Oil Spill Response sign strategic alliance deal for increased response capabilities
Wild Well Control (WWC), a specialist for emergency response of well control, pressure control, relief well planning, engineering and well control training services, and Oil Spill Response Limited (OSRL) have signed a strategic alliance deal for increased response capabilities
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