Oil price collapse is credit negative for Gulf Cooperation Council banks

brown and white factory building during night time 3855962A prolonged period of oil price volatility and low oil prices will be credit negative for the solvency and liquidity of banks operating in the Gulf Cooperation Council (GCC) states, according to credit rating agency Moody

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ADNOC to increase supply to four million bpd in April

PR Default Thumbnail 3Abu Dhabi National Oil Company (ADNOC) has announced that it will boost supply to more than four million bpd in April, following the collapse in the OPEC+ agreement

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‘US$20 oil not far off as OPEC+ is capable of unleashing 2.5 million extra bpd’

freight 863449 640Oil prices could fall into the low US$20 for the global market to rebalance, as Rystad Energy expects an increase in global supplies in the next three months

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Logan Industries secures 10-year condition-based monitoring contract

18003278241 a862293a38 cLogan Industries (Logan), a hydraulic repair, manufacturing and rental company, has signed a 10-year contract to provide condition-based monitoring (CBM) programme for wireline tensioners on behalf of Diamond Offshore, a major drilling contractor with global operations

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‘US drilled but uncompleted wells first to feel fright as oil price bungee jumps’

oil 4713386 640Rystad Energy impact analysis shows that US drilled but uncompleted wells (DUCs) will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices

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