Scotland awards £1.84m for North Sea oil and gas decommissioning

The Decommissioning Challenge Fund supports infrastructure upgrades and innovation in retrieval and transportation methods at ports and harbours, as well as supply chain projects

Petrobras commences oil and gas production near Brazil’s Búzios oil field

The company will utilise the P-70 floating, production, storage and offloading platform for the oil and gas production

India launches its first natural gas trading e-platform

The platform also seeks to standardise gas tariffs in a bid to make natural gas affordable to all

South Africa announces increases to fuel prices

Changes in Brent crude oil prices, along with the appreciation of the national currency against the dollar has informed the decision – applicable from June 3, 2020

Indian oil giants to set up joint venture to expand renewable energy footprint

The companies have entered into an MoU to explore opportunities in offshore wind energy generation, energy storage and e-mobility

Air Products to invest up to $2bn in coal-to-methanol production facility in Indonesia

The plant is expected to produce two million tonnes of methanol annually

IndianOil resumes operations, with refineries operating at 60% capacity

The Indian oil and gas giant aims to scale up operations to 80% by May’s end, as demand gradually picks up

US oil and gas industry goes into ‘survival mode’ and cuts forecast expenditure by $85bn

In a bid to limit the damage inflicted by the global oil crisis and the impact of the ongoing pandemic, many companies are taking short-term risk mitigation measures to stay afloat

US oil production to be cut down by 30,000bpd between May and June, says new study

The ongoing Covid-19 pandemic and the subsequent drop in demand have resulted in production cuts around the world

Norway revises sea management plans to protect marine life from oil and gas activity

The new plans propose a boundary shift of oil and gas activities southwardly in the Barents Sea, away from the biologically rich ocean areas in the Arctic