Due to Covid-19 effects on the oil prices in global market, companies’ investments have reached to US $50billion lower than expected. Regarding to the oil and gas global data, about 20% of this investment drop belongs to Saudi Armaco.
Other companies have lowered their investments about 20-25% which results in multibillion US dollars in new projects. Also American and Australian operators decreased their investments in large-scale projects. American operators decided to decrease their rig counts and Australians decided to postpone their LNB projects.
The decrease amount of different companies in their investment, vary due to their circumstances. National oil companies try to maintain their previous production volume and pay their obligated payments to the governments and independent oil companies try to stay profitable for their investors.
