ExxonMobil has announced reductions in 2020 capital spending by 30% and cash operating expenses by 15% in response to low prices and COVID-19.
Tanks and Terminals news updates
The EIA has announced that it expects the US to return to being a net importer of crude oil and petroleum products as production declines.
Servelec Technologies, along with sister company Primayer, have announced a new, unified company name and brand: Ovarro.
Wood Mackenzie warns that the gas sector faces an unpredictable year due to the coronavirus, oil price crash and LNG oversupply.
Shell has announced that it will not proceed with an equity interest in the proposed Lake Charles LNG project.
The multi-functional terminal extends Swedish methane infrastructure significantly and improves access for the country’s industry.
Dentons has announced that it advised Petronas on the sale of its wholly owned subsidiary Humbly Grove Energy Ltd to EP UK Investments Ltd.
Rystad Energy has reported that oil production cuts in Western Canada are likely as it nears full storage capacity.
More tanks and terminals news updates
The EIA has reported that European natural gas storage inventories are at record-high levels at the end of winter.
Pembina Pipeline Corp. has received FERC approval for its Jordan Cove LNG project.
Abu Dhabi Ports and Arabian Chemical Terminals have signed a strategic agreement for the development of a commercial bulk liquid storage terminal.
Wood Mackenzie analysis has revealed that China’s crude stock could reach 1.15 billion bbl in 2020.
Michael J. Hennigan has been appointed to the position of President and CEO of Marathon Petroleum Corp.
USD Partners has announced that it has taken measures in response to the COVID-19 outbreak and will remain fully operational.
Golar Power has signed a protocol of intentions with the State Government of Pernambuco in Brazil for the development of an LNG terminal.
The EIA has reported that moves by OPEC to maintain its market share will cause global oil inventory increases and lower prices.
MPL has awarded a FEED contract to Technip USA for an LNG export facility on the west coast of Mexico.
McDermott, Chiyoda and Zachry Group have announced the introduction of feed gas to Train 3 at the Freeport LNG project.
Pavilion Energy and SLNG have signed a five-year storage and reload services agreement in Singapore.
Prostar will invest up to US$100 million in expanding and upgrading its GTI Statia storage terminal.
Due to COVID-19, IHS Markit anticipates 1Q20 world oil demand to decline by the largest volume in history.
Adler and Allan has announced that it has expanded its non-destructive testing team.