Oil & Gas Global Sector Report - The impact of COVID-19 on the Oil & Gas Prices and Capital Spending
The impact of COVID-19 on the Oil & Gas Prices and Capital Spending
Key takeaways
Rovuma LNG project on hold due to coronavirus and gas slump
§ Oil majors continue to achieve softer earnings due to crude and natural gas price environment
§ OFS and Oil & Gas EPC companies’ 2019 earnings hit by impairments
§ Coronavirus outbreak continues to weaken crude oil and natural gas prices
§ Oil companies revise their capital budgets and dividend payments downwards on the back of crude oil price crash