View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Uncategorised
April 24, 2020

Covid-19: Offshore technology daily update – CapEx cuts and supply chain gaps

By Paul Dennis

24 April

Over $85bn of 2020 forecast expenditure erased from oil and gas sector To protect balance sheets, maintain shareholder pay-outs and preserve cash, oil and gas companies have gone into survival mode, reducing forecast expenditure where possible to weather the impact of Covid-19 and oil market volatility. As a result, capital expenditure (CapEx) cuts of over $85bn from over 100 tracked companies across the industry have been announced so far.

The impact of Covid-19 on the oil and gas supply chain Daily activities of producers, equipment and service providers, EPC contractors, storage and transportation companies, fleet operators, traders, and marketers are getting delayed or cancelled. This is potentially creating gaps along the oil and gas supply chain, which might take a while to fix.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Offshore Technology