Covid pandemic will push oil and gas companies for consolidation: Moody’s

Mumbai: Even as large companies in the oil and gas sector will see some easing of pressure on their margins in next few months, the sector is all set to witness consolidation, a Moody’s report said.

Many large companies in the oil and gas industry have been under tremendous pressure since April this year as the crude prices kept falling due to Covid pandemic. The situation is believed to be better now and would improve in the coming months the report said.