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This is an update to the first quarter 2020 outlook provided in the fourth quarter results announcement on January 30, 2020. The impacts presented here may vary from the actual results and are subject to finalisation of the first quarter 2020 results.

TDI-Brooks International, Inc (under contract to TGS), has completed the offshore “seep-hunting” surface geochemical analysis and geotechnical campaign of the MSGBC Basin, from Northern Senegal through The Gambia and AGC zone, into Guinea-Bissau down to the Guinea transform fault.

The rates for chartering very large crude carriers (VLCCs) has surged exponentially due to a spike in demand for long-term offshore storage of crude oil following the Organization of Petroleum Exporting Countries’ (OPEC’s) disagreement with Russia over the impact of the coronavirus (COVID-19) and the resulting oil price crash, according to leading data and analytics company GlobalData.

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