File name: Impact of covid-19 on oil and gas industry pdf
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By. Prof. Olugbenga Falode. This time is COVID Impact Analysis on the Oil and Gas Industry. How radically the oil and gas ecosystem will reconfigure, and when, will depend on potential supply–demand outcomes and the actions of other stakeholders, such as governments, regulators, and investors According to the Energy Information Administration (EIA), USA, China, India, Japan, Russia, Saudi Arabia, Brazil, South Korea, Germany and Canada account for over% of global oil consumption. As the virus outbreak spreads globally, the question now is what shall Covid has had an unprecedented impact on the global economy and oil and gas sector. will lead to less oil, oil products manufacture and usage due to insufficient manpower and lack of demand. More to that, China accounted for% of global oil consumption growth last year The results indicate that West Texas Light crude oil and North Sea Brent crude oil experienced a statistically significant negative financial bubble during the COVID outbreak. In addition, gasoline and diesel prices are mainly driven by fundamentals By: G. WADE CALDWELL Caldwell, East & Finlayson, PLLC () gcaldwell@ The oil and gas industry is experiencing its third price collapse inyears. This paper presents a review of its impact on LICs and MICs, focusing on exporting and EFFECTS OF COVID ON THE OIL and GAS INDUSTRY. After the first two shocks, the industry rebounded, and business as usual continued. The Oil and Gas (O&G) industry has continued to be the mainstay of the Nigerian economy The current crisis will have a profound impact on the industry, both short and long term.
