One of the world’s largest and most important energy industry gatherings was cancelled by organiser IHS Markit Ltd. on Sunday amid mounting concerns about the coronavirus outbreak. It was due to start March 9.
The world is facing the biggest commodity demand shock since the global financial crisis as the coronavirus outbreak that’s already rocked Asia spreads to the U.S. and Europe, according to Goldman Sachs Group Inc.
Oil slipped below $50 a barrel in London as the fast-spreading coronavirus riled global markets, intensifying speculation that OPEC and its allies will strike a deal to support prices.
Market experts at Wood Mackenzie (WoodMac) and Rystad Energy have warned of a further fall in oil prices due to coronavirus.
OPEC and its allies are displaying a “renewed commitment” to reach an accord that will stabilize oil markets hit hard by the coronavirus, the group’s top official said.
Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on growth.
As China’s coronavirus epidemic continues to expand and more countries are affected, the slowdown in global oil and gas consumption this year will hit suppliers who will see average prices fall below previous expectations, according to Rystad Energy’s revised forecasts.
The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions.
Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on growth.
Italian oil and gas contractor Saipem has confirmed that more than 2,000 staff are working from home due to the coronavirus.
Chevron Corp. asked traders and other staff at its Canary Wharf office in London to work from home as a precaution after an employee was tested for the coronavirus, according to a person familiar with the matter.
Oil recovered some of its losses following the biggest drop in almost seven weeks as investors attempted to gauge the economic consequences of the fast-spreading coronavirus and whether it would become a global pandemic.
Italian oil and gas contractor Saipem has told workers in the affected coronavirus regions to "stay at home" and avoid "social interactions".
Oil traders are gathering in London for what’s normally a week of lavish parties, dealmaking and market chatter. China’s coronavirus means this year’s events will be more subdued – and fewer in number – than usual. The talk will be about absent friends and uncertain demand.
Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.
A buyer of LNG has cancelled two cargoes from Cheniere Energy, the biggest US exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production.
Aberdeen occupational health firm International SOS has seen its fair share of M&A activity over the years.
Subsea engineering group Tekmar has been forced to rollback its hopes of “record” revenues in 2020 due to the effects of the coronavirus.
China's energy market could be badly hit as the coronavirus has halted production on the countries wind turbine installations, according to Wood MacKenzie (WoodMac).
A North Sea worker suspected of carrying the coronavirus has been given a clean bill of health.
The largest oil and gas producer in the UK North Sea has imposed offshore travel restrictions in the wake of the coronavirus outbreak.
An offshore worker on a North Sea platform has been quarantined over concerns around the outbreak of the coronavirus.
Oil headed for its first weekly gain since early January after prices found a floor amid uncertainty over how the coronavirus will play out and whether OPEC+ will respond with additional production cuts.
The short-term impact of the coronavirus has been seen almost entirely on demand, reducing China’s need for oil and LNG supplies.
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.