{"id":361814,"date":"2020-07-08T10:25:18","date_gmt":"2020-07-08T04:55:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361814"},"modified":"2020-07-08T10:48:29","modified_gmt":"2020-07-08T05:18:29","slug":"covid-19-drives-oil-companies-to-raise-record-debt-to-boost-cash-reserves","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-drives-oil-companies-to-raise-record-debt-to-boost-cash-reserves\/","title":{"rendered":"Covid-19 drives oil companies to raise record debt to boost cash reserves"},"content":{"rendered":"<p>The world&#8217;s top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a collapse in revenues because of Covid-19. <\/p>\n<p>The dash for debt piles pressure on company balance sheets and the issue is particularly acute for BP and Royal Dutch Shell . Already burdened by high levels of borrowing, they also face the disruption of a major shift towards renewables and low-carbon. <\/p>\n<p>The world&#8217;s top seven energy firms &#8211; BP, Shell, Exxon Mobil , Chevron , Equinor , Total and Eni &#8211; raised $60 billion in debt in the quarter, nearly half of the $132 billion in oil and gas sector borrowing over the period, Refinitiv data showed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world&#8217;s top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a collapse in revenues because of Covid-19. The dash for debt piles pressure on company balance sheets and the issue is particularly acute for BP and Royal Dutch Shell . Already burdened by high levels of borrowing, they also face the disruption of a major shift towards renewables and low-carbon. The world&#8217;s top seven energy firms &#8211; BP, Shell, Exxon Mobil , Chevron , Equinor , Total [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-361814","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=361814"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361814\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}