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Oil recovery may gather pace in H2, says Opec chief

Oil and gas markets recovery is likely to gather pace in the second half of the year as countries further ease lockdown restrictions and demand rises, said Opec Secretary General Mohammad Sanusi Barkindo, expressing cautious optimism that the worst is over.The huge and unprecedented oil market imbalance that faced the industry in April in the wake of Covid-19 pandemic required an unparalleled response from producers, said Barkindo, taking part in the online Adipec Energy Dialogues. Underlining...

Oil firms write down billions in wake of Covid-19

Oil majors Royal Dutch Shell and BP have written off billions off their assets value and lowered...



Fossil fuel: Have we passed demand peak?

Fossil fuel demand may have permanently peaked in 2019 if the global economy does not recover rapidly from the coronavirus pandemic, accelerating the arrival of peak fossil fuel demand by more than a decade, said the Boston Consulting Group (BCG) in a new report.As the short-term economic fallout of the global Covid-19 pandemic becomes increasingly visible, the crisis may have a significant long-term impact on global energy markets. BCG’s article titled "Have We Passed Peak Demand for Fossil...

In Brief

Gas key to decarbonising Mena energy sector...

Oman displays resilience

The year 2019 was a bumper period for Oman’s oil and gas industry when Petroleum Development Oman (...




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