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With oil prices at historic lows and with COVID-19 supply chain disruptions, the time has come to evaluate supply chain and procurement strategies, sourcing techniques, and costs.

The combined effect of COVID-19 and an ongoing oil price war has ushered in one of the worst downturns for the energy industry in modern history. Yet, a bright side is shining through; flaring levels in the Permian Basin have fallen sharply and will continue to decline, a Rystad Energy report shows.

Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity.

The Rovuma LNG project in Mozambique was expected to reach FID later this year, with startup in 2025.

Two former SPE presidents, Nathan Meehan and Darcy Spady, and SPE board member Johana Dunlop have contributed their thoughts on continued efforts toward decarbonization amid an oil price war and a global pandemic.

An expert panel moderated by Johana Dunlop, SPE technical director for HSE and sustainability, covers a wide range of issues facing the double crisis of COVID-19 and historically low crude prices.

InterMoor’s Marine Project team in Aberdeen successfully recovered the Ocean Power Technologies PowerBuoy after a 7-month trial in harsh North Sea winter conditions.

The VLCCs will be delivered in 2022, with LNG supply provided by Total Marine Fuels Global Solutions.

The Norwegian wind farm is expected to start up in 2022. The wind farm is also expected to create spinoff effects during the project’s life.

As SPE members deal with challenging and uncertain times, they are reminded that there are a number of programs available to provide support and key resources. Read more to see which ones are useful to you and your career.