News

  • Rystad expects 2021 to bring largest crude deficits in years

    The Covid-19 pandemic has devastated crude and condensate demand in 2020, creating massive supply surpluses and filling up inventories, causing producers to slash output in order to keep prices at somewhat profitable levels, according to Rystad Energy. Rystad Energy’s latest balances, however, show that 2021…

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  • OGUK Appoints 3 Major Business Leaders

    Industry body Oil & Gas UK (OGUK) has announced that it has appointed three major business leaders to its board.   The new appointments are: Jose Luis Munoz, the chief executive officer of Repsol Sinopec Resources UK Limited, Andy Hessell, the managing director of Kellas…

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  • Iraqi cabinet approves New Refinery in Dhi Qar

    The Iraqi Cabinet has approved a refinery project with a capacity of 100,000 barrels per day in Dhi Qar province.   A Cabinet Spokesperson said the project will be implemented by three investment companies, but did not name them.   Source: Iraq Business News

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  • Merry Christmas!

    In spite of all the restrictions imposed on us this year, all of us at Longdown|EIC hope that all of our readers can pull together and make the most of the Festive Season!

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  • Oil Market Predictions for 2021

    Strong oil demand growth will lift prices next year.   That’s one of several oil and gas market predictions for 2021 made by Wood Mackenzie analysts, which were released in an opinion piece posted on the company’s website recently.   The price prediction, which was…

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  • India Asked to Pay US$1.2 billion to Cairn

    India has been ordered to return over $1.2 billion to Cairn Energy Plc after Prime Minister Narendra Modi’s administration lost arbitration proceedings in a tax dispute, its second defeat since September over such levies.   An international arbitration tribunal ruled that India’s tax claim was…

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  • Heerema’s Thialf removes Sable facilities for ExxonMobil

    Earlier this month, Heerema’s semi-submersible crane vessel Thialf completed the eight-month-long campaign to remove the Sable Project’s offshore facilities on behalf of ExxonMobil in Canada.   According to Heerema’s statement on the 23rd December, the Thialf arrived in Canada in early April and mobilised to…

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