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Moody's: Russia seen as resilient to external shocks
Rolls-Royce and Turkey’s EUAS International agree to study applicability of mini nuclear reactors
EPH of Czech billionaire Kretinsky to acquire British gas storage facility Humbly Grove Energy
Gazprom Neft chalks up progress in the Arctic
European gas prices slump amid COVID-19 lockdowns
US considers wading into Saudi-Russia supply war
Pemex to cut expenses, contracts amid oil price slide, CEO says
Mexico’s national oil company (NOC) Pemex is reportedly planning to reduce its administrative expenses and contracts this year in order to help deal with the impact of falling crude oil prices.
Global power demand falls 15%
The current global COVID-19 crisis has highlighted how much the modern economy relies on electricity, the IEA has claimed.
Petrobras asks to draw $8bn from revolving credit lines amid pandemic
Brazil’s state-controlled oil and gas company Petrobras has asked to draw $8bn from its revolving credit lines.
Fred Olsen confirmed as installer of MHI Vestas turbines at CIP’s Changfang and Xidao wind farm
Fred Olsen Windcarrier is to install 62 MHI Vestas turbines at the Changfang and Xidao (CFXD) wind farms off Taiwan
Curacao refinery operator seizes Bonaire terminal from PdVSA subsidiary
PdVSA has lost control of the BOPEC oil terminal in Bonaire to Refineria di Korsou (RdK), the owner of the Curacao oil-processing plant.
Coal now unbankable in India
Coal power has become largely unbankable in India, with 46 GW of proposed coal-fired power projects cancelled in the last 12 months and 600 GW in the last 10 years.
Price slide could cut Brazil exploration budgets by up to $600mn
The fall in crude oil prices could force Brazil to scale back oil and gas exploration budgets by $300-600mn this year.
Indian Energy Minister allows green projects to invoke force majeure
India’s Ministry of New and Renewable Energy (MNRE) has allowed wind and solar projects hit by COVID-19 to invoke force majeure clauses
YPF to suspend non-critical activities on coronavirus crisis
Argentina’s national oil company (NOC) YPF has said it will gradually suspend activities that are not critical to its business, as it takes emergency measures in response to the global coronavirus pandemic.
Fitch cuts oil price outlook for 2020 from 62.5/bbl to $41/bbl on global recession fears
Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.
Total, Shell, Equinor gear up for market onslaught
Nigeria seen cutting Bonny Light, Qua Iboe prices by at least $3 per barrel
Nigeria will reportedly join Saudi Arabia in selling its oil at a significant discount to Brent, one of the world’s main benchmark crudes.
Fuel shortages reportedly continuing in many parts of Sudan
Many cities and towns in Sudan have continued to report fuel shortages, despite the government’s efforts to improve supply conditions.
Uganda tasks state-owned company with bulk fuel sales to local retailers
Uganda’s government has officially tasked a state-owned business, Uganda National Oil Co. (UNOC), with selling bulk quantities of imported petroleum products to local retailers.
Russian pipemaker ChelPipe getting ready for IPO
With the predominance of oil and gas in Russia’s economy the pipe-making business is a big one. ChelPipe is the market leader and is now considering an IPO.
Russia to pipe 5.2mn bpd of oil overseas in Q2
Tanzanian energy minister says domestic fuel reserves are adequate
Tanzania’s Energy Minister Medard Kalemani said last week that the country’s fuel inventories were capable of covering domestic demand for at least two months.
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