A Rystad Energy analysis has revealed that 28 tankers with Saudi oil, including 14 VLCCs and carrying a total of 43 mmbbl, will arrive on the US Gulf and West coasts between 24 April and 24 May
Industry
Abu Dhabi’s ADQ acquires ownership of NPCC
ADQ has assumed full ownership of National Petroleum Construction Company (NPCC) after acquiring the 30 per cent shares previously held by Consolidated Contractors International Company (ICC)
Energy sector drives GCC construction in Q1 2020, says BNC journal
Around US$12.9bn worth of energy projects were awarded in the GCC in the Q1 2020 registering a 53 per cent QoQ hike, according to the 17th edition of the BNC projects journal Code Blue
‘Asian crude oil importers are likely to gain after Saudi Arabia slashes oil prices’
Asian crude oil importers are likely to be at an advantageous position, as Saudi Arabia slashed oil prices to around US$4.2 per barrel of Arab light crude for the Asian markets for the months of April and May 2020 in a bid to boost its market share
Looking back at the week where oil prices hit negative
In a dramatic week for oil prices, with prices hitting negative territory for the first time in history and sending millions of barrels of oil into storage, market analysts have reflected on what this price slump might mean for the oil industry in the weeks and months ahead
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