Receive our newsletter – data, insights and analysis delivered to you
  1. Uncategorised
June 5, 2020

Coronavirus company news summary – Norwegian oil and gas investments to drop – India’s gasoline and diesel demand set to recover

5 June

Oil and gas investment in Norway is anticipated to drop significantly next year as the industry struggles with slow demand caused by the Covid-19 pandemic. Reuters cited an industry survey by the national statistics agency (SSB). According to the data procured from oil companies, investment plans for this year have dropped to NOK180.3bn ($19bn) from NOK185.4bn in February.

A Bharat Petroleum (BPCL) official has told Reuters that India’s gasoline and diesel demand will recover to pre-Covid-19 levels next month. Currently, demand is around 70% of what was recorded before the government imposed a country-wide lockdown to contain the spread of the disease. BPCL is the country’s second largest fuel retailer.

Oilfield services company Schlumberger has collaborated with a medical device company and an automation provider to produce ventilators. They will be delivered to developing countries combating the Covid-19 pandemic. The initiative involves Schlumberger engineers from the Schlumberger Cambridge Research Centre and Stonehouse Technology Centre.

Russian oil and gas company Lukoil has agreed to support Covid-19 response efforts in the Perm region of Russia. The company will donate RUB100m ($1.45m), which will be used to purchase medical equipment and protective gears. Lukoil will also support the development of modular community centres in Stryapunyata and Ashsha.

Content from our partners
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager
The important role of antifoam agents in oil-gas separation and amine treating
Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU