The natural gas market is reeling from the triple whammy of a stubborn supply overhang, particularly in the Asia-Pacific region--which accounts for nearly two-thirds of global demand--a mild winter, and a hobbled global economy.

Eni CEO Claudio Descalzi wants to turn the 67-year-old Italian oil and gas firm into a greener business, focusing on clean low-carbon products to build a huge customer base which he believes can steady the ship and attract investors more than ever.

The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil by around 282 billion barrels.

Oceaneering announced the launch of a new business, OceanSMART Cargo Logistics and Maritime Technology, which aims to eliminate waste and increase transparency within the bulk commodity cargo logistics industry.

The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use.

OPEC predicted that fuel demand will remain “under pressure” during the second half of this year because of the ongoing economic fallout from the coronavirus, a day before ministers were due to assess world markets.

“And like in the current crisis, liquidity is king,” Phillips 66 chairman and chief executive Greg Garland said on the company’s Q1 conference call in early May.

Norwegian engineering company Aker Solutions has said it has developed a modified workover system that enables faster and more cost-effective planned interventions. The concept will first be applied on Equinor’s Visund field in the North Sea, offshore Norway.

BP published its benchmark Statistical Review of World Energy for 2019 on Wednesday which showed that renewable power accounted for over 40% of the growth in primary energy.

The Nord Stream 2 has requested a permit allowing it to use pipe-laying vessels with anchors to complete the final roughly 120-kilometer stretch of pipeline in Danish waters, Denmark's energy agency (DEA) said on Tuesday.