Tagged Prices

Subsea 7 braces for coronavirus impact on market

Rate this article By Offshore Energy Today.. Due to the general uncertainty in the world and for the industry caused by the coronavirus and the collapse in commodity prices, UK subsea engineering company Subsea 7 is withdrawing its guidance and… … Read Full Article Here For more great articles: Offshore Energy Today

WoodMac: gas sector hit by coronavirus and LNG oversupply

Rate this article By LNG World News The worldwide natural gas sector has been impacted by a “triple whammy” of coronavirus, oil price crash and LNG oversupply, the consultancy Wood Mackenzie said in a report on Wednesday. “While the collapse of LNG prices towards US production break-evens was foreseeable, the narrative for the rest of…

Shell pulls out of Lake Charles LNG export project

Rate this article By LNG World News The Hague-based energy giant Shell is withdrawing from the planned Lake Charles liquefied natural gas export project in Louisiana citing current market conditions. Oil prices have plunged to an 18-year low on Monday due to the effects of the coronavirus pandemic. The Lake Charles LNG export project is…

Equinor reveals plan to cut $3 billion from its spending

Rate this article By _Offshore_Energy_Today_ Norwegian oil and gas major Equinor has revealed an action plan to battle the impacts of the coronavirus and low commodity prices under which it will reduce its spending for 2020 by $3 billion. … Read Full Article Here For more great articles: Offshore Energy Today

Australian LNG export value to drop with lower oil prices

Rate this article By LNG World News The value of Australia’s LNG exports is forecast to decline to $49 billion in 2019–20 and fall back further to $44 billion in 2020–21, in real terms, driven by declining oil-linked contract prices. Read Full Article Here For more great articles: LNG World News

Shell to slash costs and reduce spending

Rate this article By LNG World News The Hague-based LNG giant Shell said on Monday it plans to heavily reduce operating costs and spending to help mitigate the impact of the coronavirus outbreak and tumbling oil prices. Shell said in a statement it would reduce 2020 cash capital expenditure to $20 billion or below from…