BP declares Greater Tortue Ahmeyim FLNG force majeureOGJ...

BP declares Greater Tortue Ahmeyim FLNG force majeure

OGJ editorsApr 8th, 2020

BP Mauritania Investments Ltd. declared force majeure to Gimi MS Corp., a subsidiary of Golar LNG Ltd., stating that due to the recent outbreak of COVID-19, BP could not receive floating LNG plant Gimi by its target connection date in 2022.
__________________________________________________________________________________________
Marathon cuts $1.1 billion from capital budget, halts Bakken, Eagle Ford operations

OGJ editorsApr 8th, 2020

Marathon Oil has cut $1.1 billion from its initial 2020 capital spending budget to $1.3 billion or less in response to market conditions. Capital spending for the year is now expected to be 50% below actual capital spending in 2019.
--------------------------------------------------------------------------------------------------------------------------------------------
Common theme - on-shore, off-shore and shale, no exceptions - cut, cut and more cuts to admin, capex, development, all aspects of almost every industry, except development of COVID-related diagnostics.

2020 will definitely go down as THE YEAR that sorted the Chaff from Wheat. With owners being asked to assist tennants, Will that sentiment be extended to oil minnows existing only with cap in hand......a trait not usually attributed to international lenders.

Have a safe and isolated Easter
MS