Software company Cambridge Quantum Computing (CQC) has entered into a multi-year partnership with petroleum refining company Total S.A. to develop quantum algorithms and quantum computing solutions for advanced carbon capture, utilisation and storage (CCUS) technologies
Industry
Saudis are confident to quickly bounce back from COVID-19
Saudi Arabia will recover from the global COVID-19 pandemic more quickly than other regional countries, according to more than 81 per cent respondants in APCO Worldwide study
COVID-19 demand update: Oil seen down 9.4 per cent
Rystad Energy’s newest forecast for oil demand now projects a decrease of 9.4 per cent for 2020, or 9.4 million barrels per day (bpd) y-o-y
ExxonMobil reduces 2020 capex budget by 30 per cent
Oil and gas company ExxonMobil said it is reducing its 2020 capital spending by 30 per cent and lowering cash operating expenses by 15 per cent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic
MOL Group ensures continuous supply security
Oil industry company MOL Group has stated that the operational and capital expenditures will be reduced materially to preserve cash and to allow MOL to manage through challenging times even in the case of a longer lasting crisis
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