As the oil and gas sector comes to terms with decade-low oil prices and global disruptions caused by the coronavirus (COVID-19), company costs and investments are being slashed with more than US$50bn pledged to date and more on the horizon, according to GlobalData
Industry
Pipeline specialist STATS Group expands operations in Oman
STATS Group has opened a workshop, storage and testing facility in Muscat
Oil glut to worsen as INEOS postpones Forties pipeline shutdown
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
BP, Follow This agree to work towards climate resolution
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
Services sector feels the pain as budget cuts bite: Wood Mackenzie
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
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