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3 June 2020
Covid-19 has brought oil and gas reserves for sale to above 12.5bn boe
Oil and gas companies have accumulated assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural...
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3 June 2020
Coronavirus company news summary – Seadrill reports $1.56bn net loss – US LNG exports slips to 13-month low
3 June Deepwater drilling contractor Seadrill has reported a net loss attributable to shareholder of $1.56bn in the first quarter as the company continues to combat the challenges arising due...
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2 June 2020
US scraps over 10,000 acres of oil auctions amid Covid-19 uncertainty
The Trump Administration has scrapped a series of oil and gas licencing auctions, halting new offshore developments in US territory as the Covid-19 pandemic continues to disrupt the oil and...
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2 June 2020
Impact of Covid-19 on North American oil and pipeline sector
Weak economic outlook coupled with the impact of Covid-19 has hit the oil and gas industry in general, the North American oil and gas pipeline sector being no exception. Major...
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2 June 2020
Coronavirus company news summary – OPEC and Russia mull extending production cuts – US postpones more oil and gas lease sales
2 June OPEC and Russia are currently in discussions to extend the ongoing oil production cuts after the recent fall in demand triggered the oil price to crash. According to...
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1 June 2020
Covid-19 and weakened oil prices impact on North American oil and gas operators
The GlobalData Upstream Impact Scorecard considers a number of factors that determine a company’s upstream business impact from Covid-19 and weakened oil prices in comparison to oil and gas industry...
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1 June 2020
58 Tullow offshore workers test positive for Covid-19
Tullow Oil has announced that 58 of its offshore workers at its Ghanaian operations have tested positive for Covid-19, yet the company has made no plans to scale back production....
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1 June 2020
Coronavirus company news summary – Tullow Oil confirms 58 Covid-19 cases in Ghana – US oil rig count falls to record low
1 June Tullow Oil has confirmed that 58 workers tested Covid-19 positive at an oil production facility offshore Ghana. According to Reuters, All infected workers have been transferred onshore for...
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29 May 2020
Covid-19 impact on London listed independent oil and gas companies
Due to the Covid-19 pandemic and resultant oil price crash, all companies in the oil and gas industry have been affected. An analysis of a group of London listed independent...
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29 May 2020
Coronavirus company news summary – Subsea 7 to lose nearly 25% of staff – Oil glut may continue to next year
29 May Oil services firm Subsea 7 has decided to trim its global workforce by nearly a quarter as part of its cost reduction programme. The move will make around...