WTI discounts are $6 to $7 a barrel, increasing pressure on producers to shut in wells.
Shipment comes as China returns to work and increases its demand for power.
Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement on March 30 to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).
Searcher reached a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM) on March 25 for its Offshore Timor-Leste data and study package.
Polarcus Ltd., which operates ships that search for offshore oil and gas, announced two project cancellations on March 23 that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.
Air Drilling Associates (ADA), a leading provider of specialized drilling and project management services to the petroleum and geothermal drilling industry, has adopted GumboNet, the company’s massively interconnected blockchain network.
Continued fears about the coronavirus, demand uncertainty and OPEC moves are adding to a growing list of challenges for U.S. shale players.
The world's top producers including Saudi Arabia, Russia and other Middle East producers were last locked in a market share war between 2014 and 2016.