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Norwegian consulting company Rystad Energy predicts that the number of approved offshore projects in 2018 will grow to 100 compared with 60 projects in 2017, which will contribute to the current rise in the oil market. According to еру experts from Rystad, each project will cost about $1 billion, the total cost of their implementation will be $100 billion. They note that cost cutting and optimization of operations have enabled shelf developers to reduce the cost of implementing offshore projects by almost 50% compared to the level of the previous cycle. Experts calculated that the daily cost of operation of offshore drilling rigs was reduced by 50-70%, surface drilling rigs - by 20-30%.
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
Gold prices rose earlier on Monday in Asia, remaining above the $1,800 as the COVID-19 pandemic continues to worsen around the world. Gold futures slipped by 0.29%, trading at $1,807.15 per ounce by 12:47 AM ET (05:47 AM GMT). Investors flocked ...
The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe's economy comes as ...
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...
Chesapeake Energy Corp. (CHK.N) said on Tuesday that it is preparing to file for bankruptcy as soon as this week after the pioneering shale oil driller missed an interest payment worth $10 Million due on Monday. The company’s stock was ...
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