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Oil Price Crash Could Wipe Out $131 Billion In New Projects

The double supply-demand shock in the oil market could lead to companies deferring as much as $131 billion worth of oil and gas projects slated for approval in 2020, with everyone in the industry--from Big Oil to the small players--is feeling the pain of the oil price crash and looks to weather the storm.

read more... 25/03/2020

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Daily (24.03.2020): NBP spot fell by 7% amid weak demand and supply glut

Crude oil prices ended higher in a volatile session on Monday, after Fed announced extensive new measures to support the economy crippled by the coronavirus. Moreover,the U.S. indicated the possibility of an alliance with Saudi Arabia to stabilize prices. However, the sentiment remains bearish on worries about economic recession.

read more... 24/03/2020

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German hydrogen pipeline planned to aid green industry shift

A group of gas grid operators, oil and utility firms is planning a 130-kilometre hydrogen pipeline to supply industrial customers in north-west Germany, Open Grid Europe (OGE) said.

read more... 19/03/2020

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Daily (18.03.2020): Oil prices plummeted below $30 a barrel to reach the lowest level since 2016

Crude oil futures extended losses on Tuesday, falling to the lowest level since 2016 as the coronavirus pandemic threatens to bring the global economy to a deadlock, denting the fuel demand at a time when crude supply is flooding the market. Brent crude fell by $1.32, or 4.4% to settle at $28.73 a barrel on ICE London. U.S. WTI crude plunged by $1.75, or 6% to end at $26.95 a barrel on NYMEX.

read more... 18/03/2020

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Sweden expects 129% jump in wind output by 2022

Sweden expects a significant increase in both wind and solar power generation, and a drop in total electricity supply and demand in the country in the period 2019-2022.

read more... 18/03/2020

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