The economic demand destruction triggered by the COVID-19 pandemic should propel the Middle East energy industry to accelerate its adoption of the 4th Industrial Revolution digital toolbox and embed greater operational efficiencies, according to Gulf Intelligence
Industry
PDO starts commercial operation of Amin Photovoltaic Power Plant
Petroleum Development Oman (PDO) has begun operations of the 100-megawatt Amin Photovoltaic Power Plant
IEA: Global consumer spending on oil may fall below the amount spent on electricity
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year, with global investment in oil and gas is expected to fall by almost one-third in 2020, according to the International Energy Agency (IEA)
Petrofac extends Iraq oil contract
Petrofac’s Engineering & Production Services division (EPS) has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP)
Axiory Global launches two new products to combat negative oil prices
Leading Global Forex Brokerage firm Axiory Global has launched two brand new products that have been especially designed to combat negative oil prices: the US Oil Index and the UK Oil Index
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