Lockdown to delay several oil, gas projects
NEW DELHI: Low oil and gas prices, lockdown and mobility restriction across several countries will delay several oil and gas projects from complex deep-sea projects that depend on men and material from across the globe to refinery expansion and pipe-laying, executives and analysts said.
The oil industry is under twin assault from the demand destruction caused by Covid-19 and a price war between key global producers that has brought about a record quick drop in prices. Lockdown and mobility restrictions have induced economic uncertainty and are making it harder for executives to manage projects.
