Special reports

US crude oil stock builds hit a new weekly record in the week ending April 10 (week 15) as about 17.2 million bbl was sent into storage.

The world's leading oil producers reached a deal over the weekend to cut global output by approximately 10%.

A Rystad Energy analysis shows that Canada is the oil producer most affected so far by the slump in global oil demand, with the damage estimated to reach above 1.1 million bpd in shut-in production in 2Q20.

Subsea UK says that underwater engineering companies have the relevant products and manufacturing expertise, particularly in breathing apparatus and life support equipment, valves, and control systems, to support the UK in tackling the pandemic.

With additional oil coming, the largest production shut-ins in the country’s history are not far off, according to Rystad.

In the second part of this two-part article, Derek Crombie, Lloyd’s Register, introduces the final three questions that need to be answered when choosing petrophysics analysis software.

The Global Energy Show has confirmed new dates for the exhibition and conference, which will now be June 8 – 10, 2021 in Calgary, Canada.

At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war.

In the first part of this two-part article, Derek Crombie, Lloyd’s Register, introduces the first two questions that need to be answered when choosing petrophysics analysis software.

Rystad estimates total gas flaring declined to 700 million ft3/d in 1Q20, with 550 million ft3/d flared at the wellhead – the lowest quarterly flaring rate since 3Q18.

In the event of another deadlocked meeting on 6 April, Saudi Arabia will suffer a bigger hit than Russia with regards to the impact on oil and gas revenues, fiscal breakeven price, fiscal deficit and foreign currency reserves, budget deficits and domestic policy.

Analysis by the African Energy Chamber has identified Senegal, Angola and Nigeria as particularly vulnerable.

Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline, according to analysis by Rystad Energy.

The coronavirus crisis has led to the second round of negotiations on a future free trade agreement between Britain and the EU, set to involve 200 senior officials from both sides, being postponed.

The IEA expects global oil demand to fall in 2020 – the first full-year decline in more than a decade – because of the deep contraction in China, which accounted for more than 80% of global oil demand growth in 2019, and major disruptions to travel and trade.