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oil and gas news
The swift movement to digital technologies driven by the pandemic is anticipated to continue well into and beyond the COVID-19 recovery period. Organisations across industries globally are enhancing digital capabilities to keep the pace. In a recent Global Consumer Insights Survey published by PwC leaning heavily on coronavirus-related data, research conducted with respondents pre-outbreak and...
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In the beginning of 2017, China and Brunei joined forces in a joint petrochemical venture, resulting in the Hengyi Industries Sdn Bhd. The project is located on a small island close to the Bruneian capital of Bandar Seri Begawan, Pulau Muara Besar (PMB). Under China’s Belt and Road Initiative (BRI), the 3.5 billion US dollar...
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In Singapore’s marine and offshore dormitories, foreign workers who were initially exempted from the government-imposed lockdown are now being confined to their living quarters. The great number of those in the foreign workforce creates a gap in the project activity for the shipping and marine facilities. Across the country, contractors in the related industry sought...
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Only recently, a small fire occurred that left the unfortunate individual with first and second degree burns. This led to the issuance of a safety alert by the International Association of Oil and Gas Producers since the unpredictable fire occurred as a result of an individual getting burnt from using hand sanitiser. The alcohol-based hand...
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Just this week, a devastating crash occurred during load testing in an offshore wind farm installation vessel in Rostock, Germany. Investigation on the cause of the giant crane’s crash is still underway, with major damage to the hull. Industry officials who are based in Asia stated that the structure stayed afloat despite the amount of...
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As more countries continue to extend their quarantine period due to the pandemic and its ceaselessly rising numbers, Petroliam Nasional Berhad, Malaysia’s petroleum giant warns of incoming project delays.  The state-owned energy company currently operates in over 20 countries that include the Americas and in an attempt to maintain capital expenditure, will see a number...
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With all happenings around the globe, Royal Dutch Shell stated that they will be proactively taking measures to ensure resilience and (financial) strength of the business. Shell has reduced at least 20% of the capital expenses including “material reductions in working capital”, with possible reductions in the near future. Chief Executive Ben van Beurden said...
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Capital Expenditure in Petronas facing possible cut due to low oil prices In this current situation, Affin Hwang Capital research found that Petronas is bound to reduce its capex, a move that could put pressure on the Malaysian oil and gas industry. The financial company further stated that Petronas has yet shown signs of significant...
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A pair of individuals were reportedly injured when an LTS-3000 crane boom apparently collapsed while working on a heavy-lift pipelay vessel under Larsen & Toubo (L&T) company on a development project off India’s west coast. The Cluster-8 development project also saw the fall of an offshore jacket where the crane had collapsed.  There were about...
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On Wednesday, the World Health Organisation (WHO) announced that COVID-19 is officially a pandemic, infecting over 126 000 people worldwide and killing more than 4600 individuals.  The news breaks only hours after Shell reveals that one of its’ staff in the Aberdeen, UK headquarters was tested positive for the virus. The company further advised those...
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