The global COVID-19 vaccine roll-out is putting oil fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth mode following 2020’s collapse, according to the IEA.
China National Offshore Oil Co. (CNOOC) has made a final investment decision for development of the Weizhou 12-8 East (WZ12-8 East) oil project in the Beibu Gulf offshore China, partner Horizon Oil Ltd., Sydney
Activity in the oil and gas sector declined modestly in third-quarter 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey. Data were collected on Sept. 9-17, and 166 energy firms responded.
Despite devastated global oil and gas project sanctioning this year, Rystad Energy projects postponed plans will cause the total worth of final investment decisions to double next year and exceed pre-pandemic levels from 2022.