The oil price rally may have come to an end, with the long-feared “second wave” of coronavirus infections having now arrived, posing renewed threats to the global economy.

BP will make the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy.

Neodrill and Baker Hughes announced completion of the world’s first cut and recover operation for Wintershall Dea Norge in the Norwegian Sea. Rig time was reduced by an estimated 12 hours, with work to cut the surface casing moved off the critical path of the rig schedule.

Petrofac’s Engineering & Production Services division (EPS) has been awarded a multi-million dollar engineering, procurement, construction, and commissioning (EPCC) contract by Tatweer Petroleum, for an upstream gas project in Bahrain.

The US oil and gas labor market is amongst the world’s most severely hit by the downturn that the Covid-19 pandemic has brought, a Rystad Energy analysis of the latest data from the US Bureau of Labor Statistics (US BLS) reveals.

The spread of the novel coronavirus has impacted the entire global economy, devastating economic sectors from foodservice and hospitality to energy. In response to this economically fraught moment as we linger on the precipice of a yearslong recession, some developing countries are taking a “politically perilous” task by removing limits and subsidies on gas and electricity prices.

Norway has opened two areas for offshore wind power developments in the North Sea, including one along its maritime border with Denmark, the energy ministry said on Friday.

Per Canada’s CBC News, a report this week has stoked some optimism in the Newfoundland and Labrador oil and gas sector, with a description of another “potentially commercial discovery” in the Flemish Pass Basin.

Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.

A multi-million pound fund has been set up to help the energy sector recover from the dual economic impacts of coronavirus (COVID-19) and the oil and gas price crash.