Production & SCM
GlobalData reports that permian operators will remain forced to reduce their capex given the uncertainty generated by low oil demand and the coronavirus (COVID-19) related economic downturn as well as an oil flood by Russia and Saudi Arabia.
Unanimous verdict returned in favor of the plaintiffs
The coronavirus and collapse in crude oil prices, chemical, and oil and gas is forcing midstream companies to slow investment and project startups for the next several years.
Coronavirus impact data was collected from March 12 to 17 from visitors to Control Engineering, Plant Engineering, Oil & Gas Engineering, and Consulting-Specifying Engineer websites. Half of respondents’ business have negative effects; half have supply chain problems. Results cover impact on business, company responses, travel, future outlook, government strategies and other topics.
The recent crude oil price collapse is affecting the US petrochemical advantage, while the spread of coronavirus is hindering global demand.
COVID-19 is forcing manufacturers to rely more on automation and digitalization for long-term operations to reduce the financial impact from epidemics and other potential economic challenges.
The supply chain is being impacted by coronavirus, but manufacturers can keep their supply chain going by improving visibility and taking advantage of automation technologies.
Texas A&M University researchers have found the presence of kerogen plays a vital role in how easily carbon dioxide can travel through shale reservoirs, which could help oil and gas companies reap larger oil recoveries.
Researchers at UW-Madison have found a way to speed up the process of finding suitable reaction conditions using machine learning, which may help the era of biofuels come a little bit sooner.
Oil and gas deals dropped almost 12% in January compared to the 12-month average, according to GlobalData.