Union Launches Campaign to Protect North Sea Jobs  | Rigzone
Unite Scotland launched a campaign on Monday to protect offshore oil and gas jobs. The campaign will involve the distribution of thousands of electronic postcards to union members so they can make direct contact with MPs and MSPs to gain support for several “key” measures, the union revealed. These include: Direct state investment in
The EU Major Upstream Co Best Placed for 2020 Storm  | Rigzone
The European major with the upstream business that is best placed to weather 2020 market volatility is Total SA, according to a new study by GlobalData. The study – which compared the upstream companies of Repsol SA, BP plc, Royal Dutch Shell plc, Eni SpA, Equinor ASA and Total SA – outlined that Total’s upstream
Oil Climbs for a Third Week  | Rigzone
(Bloomberg) — Oil climbed to the highest level since mid-March to post its third weekly gain as economies begin to reopen and signs continue to emerge that demand is recovering. Futures in New York rose 19% during the week. OPEC is optimistic that the worst of the oil crisis is over and sees signs that
Oil Demand Rising as More Get Behind the Wheel  | Rigzone
Demand in the oil markets continued to move upward this past week, a panel of informed market-waters told Rigzone. As the economy opens up after widespread government-imposed lockdowns to counter the COVID-19 pandemic, panelists observe that more people are hitting the road after weeks of isolation. Keep reading for their perspectives on recent market developments.
Pandemic Leaves Huge Hole in Global Oil Demand  | Rigzone
(Bloomberg) — A fifth of global demand for oil will disappear this quarter. All three of the major forecasting agencies now agree that the world faces its biggest-ever slump in oil consumption, after governments imposed movement restrictions on billions of people to combat the coronavirus. The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will soar this
World Petroleum Congress Event in Houston Pushed to 2021  | Rigzone
In light of COVID-19 and global market volatility, the 23rd World Petroleum Congress has been postponed until next year. The event was scheduled to take place at the George R. Brown Convention Center in Houston, TX this winter. The event is only held every three years and hasn’t been held in North America since 1987,
Natural Gas Prices Could Double Next Year  | Rigzone
April has seen a marked reversal of fortunes for shale oil drillers in the United States. The price for May deliveries of West Texas Intermediate crude briefly dropped to minus $40.32 per barrel on 20 April,[i] before rebounding to over zero. For the first time ever, traders were paying to have crude taken off their
Industry Groups Advocate for Offshore Workers  | Rigzone
An organization representing offshore marine contractors and the associated industry supply chain in more than 60 countries reported Thursday that it is lobbying the International Maritime Organization (IMO) to ease the movement of offshore energy sector personnel during the COVID-19 pandemic. In a written statement emailed to Rigzone, the International Marine Contractors Association (IMCA) stated
Energy Worker Survey Finds Remote Preference  | Rigzone
As COVID-19 lockdowns expire and businesses reopen their physical locations, a new University of Houston (UH)-led survey of energy workers finds that more than 70 percent of respondents would prefer to continue working remotely. In addition, one-fifth of energy workers surveyed indicated they would prefer to take an unpaid furlough over a physical return to
More Staff Cuts at Halliburton  | Rigzone
Here are some of Rigzone’s top stories during the last week, just in case you missed them… Halliburton Lays Off Additional Staff in Houston Halliburton recently announced another group layoff, according to a notice sent to the Texas Workforce Commission on May 4. Almost 1,000 employees were affected. Read full article here EIA Raises Oil