Oil falls as Covid-19 puts demand on hold while supply keeps on calling
Oil prices fell on Tuesday on concerns that a rise in Covid-19 infections globally will halt oil demand, leaving the increasing supply from August unused.
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Oil prices fell on Tuesday on concerns that a rise in Covid-19 infections globally will halt oil demand, leaving the increasing supply from August unused.
BP has reported a record US$6.7 billion (£5.12 billion) loss in 2Q20.
Halliburton Landmark will deliver DecisionSpace® 365, its E&P cloud software, to support Petronas' upstream digitalisation initiatives and reduce exploration time.
The volumes are estimated to be in the range of 40 – 120 million boe – the largest discovery in Norway so far this year.
Well 6507/4-1 will be drilled from the Leiv Eiriksson drilling facility in production licence 1009.
The amended Walton Morant Licence covers an area of 22 400 km2, and has numerous plays and prospects already identified across three separate basins.
The contract comprises the design, engineering, fabrication and installation (including assistance to hook-up and commission) of both normally unmanned installation production platforms for the IOG-operated Southwark and Blythe gas fields in the UK Southern North Sea.
First oil at the Wressle oilfield development in North Lincolnshire, UK, is expected during 2H20.
The Bressay oilfield was discovered east of Shetland in 1976 and Equinor became operator in 2007.
Included in the current quarter were impairments and other net charges of US$1.8 billion primarily associated with downward revisions to the company's commodity price outlook, severance accruals of US$780 million, and a gain of US$310 million on the sale of Azerbaijan assets.
Marwell has successfully installed a tailored and cost-effective solution to replace centraliser subs for a major international oil company.
Exxon has said it is undertaking a comprehensive evaluation across the businesses on a country-by-country basis.