{"id":391830,"date":"2020-12-28T10:15:55","date_gmt":"2020-12-28T04:45:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=391830"},"modified":"2020-12-28T10:15:55","modified_gmt":"2020-12-28T04:45:55","slug":"2020-was-one-of-the-worst-ever-years-for-oil-write-downs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/2020-was-one-of-the-worst-ever-years-for-oil-write-downs\/","title":{"rendered":"2020 was one of the worst-ever years for oil write-downs"},"content":{"rendered":"<p>The pandemic has triggered the largest revision to the value of the oil industry\u2019s assets in at least a decade, as companies sour on costly projects amid the prospect of low prices for years.<\/p>\n<p>Oil-and-gas companies in North America and Europe wrote down roughly $145 billion combined in the first three quarters of 2020, the most for that nine-month period since at least 2010, according to a Wall Street Journal analysis. That total significantly surpassed write-downs taken over the same periods in 2015 and 2016, during the last oil bust, and is equivalent to roughly 10% of the companies\u2019 collective market value.<\/p>\n<p>Companies across the major Western economies are writing down more of their assets during the coronavirus pandemic than they have in years. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pandemic has triggered the largest revision to the value of the oil industry\u2019s assets in at least a decade, as companies sour on costly projects amid the prospect of low prices for years. Oil-and-gas companies in North America and Europe wrote down roughly $145 billion combined in the first three quarters of 2020, the most for that nine-month period since at least 2010, according to a Wall Street Journal analysis. That total significantly surpassed write-downs taken over the same periods in 2015 and 2016, during the last oil bust, and is equivalent to roughly 10% of the companies\u2019 collective [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-391830","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391830","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=391830"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391830\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=391830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=391830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=391830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}