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…
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…
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
Yingli Energy (China) Company Ltd has supplied 117MW of its N-type bifacial high-efficiency modules “PANDA” to the Middle East’s largest bifacial PV power station in Oman, the Ibri-2 project. The project is invested and developed by ACWA Power and POWERCHINA Huadong Engineering Corporation Limited…
Wärtsilä Voyage has successfully completed its first commercial installation of the state-of-the-art Wärtsilä Navi-Harbour WebVTS 5.0 software application. The system was ordered by Netherlands-based Wintershall Noordzee BV to provide greater safety for their offshore installations in the North Sea. The order was placed in…
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!
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…
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…
Russia’s Nord Stream 2 project is expected to start laying pipes for the gas pipeline in waters offshore Denmark in January 2021 after construction was suspended in December 2019 due to a threat of sanctions by the United States. The Nord Stream 2 gas…
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…
