Industry

COVID-19 outbreak leads to a surge in tanker rates, says GlobalData

photo 1584381635773 35810f3a31cdThe rates for chartering very large crude carriers (VLCCs) has surged exponentially due to a spike in demand for long-term offshore storage of crude oil following OPEC’s disagreement with Russia over the impact of the coronavirus (COVID-19) and the resulting oil price crash, according to data and analytics company GlobalData

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COVID-19 outbreak leads to a surge in tanker rates, says GlobalData

photo 1584381635773 35810f3a31cdThe rates for chartering very large crude carriers (VLCCs) has surged exponentially due to a spike in demand for long-term offshore storage of crude oil following OPEC’s disagreement with Russia over the impact of the coronavirus (COVID-19) and the resulting oil price crash, according to data and analytics company GlobalData

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‘Crude prices edge higher as producers announce cuts’

orkhan farmanli SjqNWtyFtYM unsplashCrude prices has climbed as more producers announced production cuts, but remained near 18-year lows as the coronavirus pandemic continued to weaken demand

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Oil and gas industry releases updated global sustainability reporting guidance

chris liverani XLFu0PM5Qsg unsplashIPIECA, the American Petroleum Institute (API), and the International Association of Oil & Gas Producers (IOGP) have released the new edition of the sustainability reporting guidance for the oil and gas industry, which marks over 15 years of collaboration between the member companies across the three leading industry associations

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Saudi Aramco tightens capital expenditure as oil prices crash, says GlobalData

Saudi Aramco Onshore RigSaudi Aramco plans to reduce its investment plans after oil prices crashed due to a slump in demand as a result of the coronavirus (COVID-19) pandemic

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