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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 that aside from protecting all its staff and customers in this difficult situation, further steps...
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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 delay in its 2020 programme amidst the chaos caused by the virus. However, activities tend...
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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 five people who were present at the scene at the time of the incident and...
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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 who worked closely with the affected individual to self-quarantine at home.  Further North, Equinor confirms...
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Chief Executive of UK North Sea Trade Association Oil & Gas UK (OGUK), Deidre Michie,  makes the call to minimise costs and uncertainty for the many delegates. The key event “Share Fair” is set to run on the 24th March in Aberdeen, Scotland. However, it has now been rescheduled to 16th September in an email received by the delegates. OGUK events on the other hand, are expected to run as...
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