oil and gas industry

Oil production costs reach new lows

A Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014.

UK reveals continued fall in COVID-19 offshore cases

The representative body for the UK’s offshore oil and gas sector, OGUK, will reflect on lessons learnt from the coronavirus pandemic as it reveals suspected COVID-19 cases offshore continue to decrease due to “effective industry-wide measures” to protect the sector.

Oil trading profits increase for energy majors

During March and April, oil prices plunged to their lowest in a generation, However, Norwegian energy giant Equinor ASA was pumping as much crude as possible underground into giant caverns on the nation’s North Sea coast.

UK oil industry calling for policy change in COVID testing

The UK oil and as industry has recently criticized the government for refusing to provide the means for COVID-19 testing on offshore platforms. This comes in light of the recent death of 227 oil workers at Petroleos Mexicanos, the highest toll of any company worldwide.

US LNG exports dropped by half in 2020 so far

Although daily natural gas deliveries to U.S. facilities that produce LNG for export were a record 9.8 billion cubic feet per day (Bcf/d) in late March 2020, deliveries fell to less than 4.0 Bcf/d in June, EIA reported.

maritime events