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  • BP has announced that it is to reduce its capital spending plans by 25% – with a new forecast of $12bn – as part of cost reductions in response to the COVID-19 pandemic and the low oil price. However, it stressed that no BP employees would be laid off during the next three months as a result of the ...

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  • The COP26 UN climate change conference set to take place in Glasgow in November 2020 has been postponed due to COVID-19. The decision was taken by representatives of the COP Bureau of the UNFCCC (United Nations Framework Convention on Climate Change), with the UK and its Italian partners.Dates for a...

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  • OGUK and Step Change in Safety, the UK oil and gas industry’s recognised safety organisation, have co-produced a series of films to address the concerns of thousands of workers travelling offshore during the coronavirus pandemic.There are currently two films available to view with the first co-prese...

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  • The gas sector faces an unpredictable year as it weighs a triple challenge of coronavirus, oil price crash and LNG oversupply, according to the latest short-term gas and LNG outlook report from Wood Mackenzie.The company’s Research Director Robert Sims says: ‘While the collapse of LNG prices towards...

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  • Vitol Marine Fuels, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering specialist Sinanju Tankers Holdings. The new operation has been renamed Vitol Bunkers.As a result of the deal, Vitol has acquired an expert bunker tanker manager and operator with extensive exper...

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  • Ineos has announced it is to open a third factory to manufacture and supply hand sanitiser free of charge to hospitals. The latest facility is to be built in France in just 10 days and will manufacture 1mn bottles of hand sanitiser per month. The company has already started to build other plants in ...

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  • The use of clean hydrogen could help address the toughest third of global greenhouse gas (GHG) emissions by 2050, but only if net zero emission goals and policies are set, according to a new study from BloombergNEF.The falling cost of making hydrogen from wind and solar power offers a promising rout...

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  • OxGas, a company owned by the Port of Oxelösund in Sweden, has commissioned MAN Energy Solutions to develop and construct a multi-functional terminal for liquefied methane-based fuels in the port (pictured). The terminal will be designed to feed both LNG and green methane derived from biogas to SSAB...

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  • The UK government has published a document that it claims marks ‘the beginning of a conversation to develop the policies needed to decarbonise transport’ in the country. Entitled Decarbonising transport: Setting the challenge, the report sets out the challenge that needs to be met to reduce tra...

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  • China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15bn barrels in 2020, equivalent to 83 days of oil demand, according to the latest analysis from Wood Mackenzie.‘Major crude oil importers such as China have been known to build their strategic reserves when pr...

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