Industry

Global oil industry reacts to first-ever negative oil prices

49638457986 dfe78004a4 oYesterday was a historic day for the oil industry with prices crashing and going into negative territory for the first time

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Saipem awarded Egypt’s first polybutadiene plant

saipem egypt 21 AprilSaipem, one of the leading a consortium with Egypt-based Petrojet, has been awarded a contract by Egyptian Ethylene & Derivatives Co (Ethydco) for the first polybutadiene-producing facility in Egypt, with an expected production capacity of 36,000 MT per year

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APICORP demonstrates shareholder support and long-term commitment

apicorp orme 21 apThe Arab Petroleum Investments Corporation (APICORP) announced that its general assembly ratified a landmark increase in callable capital to US$8.5bn at its annual general meeting (AGM), as well as a significant increase in authorised and subscribed capital

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Seismic market to suffer in current environment: Rystad Energy

34762180271 7a3c762682 cThe COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans

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Supermajor Total revises capex of US$14.7bn for 2020

18762109280 d210246e0d cTotal has announced a revised capex of US$14.7bn for 2020 by factoring average crude oil prices of US$30 per barrel

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