8 June
The number of oil and gas rigs in the US has dropped for the fifth consecutive week to a record low, according to the data from energy services firm Baker Hughes. In the week to 5 June, the count dropped to an all-time low of 284 as the oil and gas industry struggles with the impact of Covid-19 and following price crash.
Go deeper with GlobalData
Hokchi Energy has opted for early termination of a drilling contract with Mexico’s Grupo R. The company cited current global oil and gas market conditions for the move. Grupo R began drilling in the Hokchi field in April using the Cantarell III jack-up rig.
Aker Energy plans to advance with the development of Pecan field offshore Ghana, an initiative which was postponed earlier due to Covid-19 pandemic. The company is working to ensure feasibility of a phased Pecan field development by carrying out conceptual studies.
Brazil’s Petrobras has reported record fuel exports last month, despite the fall in demand due to Covid-19 crisis, reported IANS. The company exported 1.11 million tonnes of fuel oil in May, 231% higher compared to the figures registered in the same period a year ago. This comes after OPEC+ agreed to extend their output cuts to revive oil prices.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
