Image credits: Flickr, C.L Baker
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Weekly Roundups

Questions Face the Post-COVID-19 Industry

By Peter Appleby | Thu, 04/30/2020 - 18:04

Global oil prices continue to see volatility, with WTI, Brent and the Mexican crude basket all spiking throughout the week. This price insecurity is being driven by macro factors, including the hesitant plans of national governments around quarantine and the reopening of economies. For articles covering these themes and more, read on.

 

Diamond Offshore Files for Bankruptcy

Major US drilling company Diamond Offshore succumbed to the oil downturn and filed for bankruptcy. The company, which owns 11 floating platforms and 4 drillships, has worked in many of the world’s best-known fields and has operations in Mexico.

The prolonged period of depressed prices and reduced budgets puts other companies at risk. Is this the first of many?

 

How Will Demand React to the Reopening of National Economies?

Some Asian and European companies are starting to slowly ease lockdown measures. While international travel and busier roads are a long way off, the lifting of these measures could see demand rise again. How far away are we from this possibility?

 

A Model for Success

Cayros Group offers an insight into how upstream contracting models impact the development of fields and which model is best set to provide success. An information walk-through of each model used in Mexico gives readers a thorough understanding of the Mexican situation.

 

PEMEX: One Step Forward, Two Steps Back?

Figures from March show that the NOC achieved what many credit agencies had said it must do: reverse its falling production trend. But it comes just at the time that COVID-19 bites and Mexico must fulfil its commitment to OPEC+ cuts, among other issues. Will PEMEX find the path to success?

 

Are We Already Past Peak Oil?

The oil industry expected peak oil to be coming in 2028 but COVID-19 has, potentially, brought that date forward. Rystad Energy took a look at peak oil this week – has it come and gone?

Photo by:   Flickr, C.L Baker
Peter Appleby Peter Appleby Journalist and Industry Analyst