GlobalData report: Over $85bn of 2020 forecast expenditure erased from oil and gas sector

GlobalData report: Over $85bn of 2020 forecast expenditure erased from oil and gas sector

To protect balance sheets, maintain shareholder pay-outs and preserve cash, oil and gas companies have gone into survival mode, reducing forecast expenditure where possible to weather the impacts of Covid-19 and oil market volatility, says GlobalData.. Daniel Rogers, oil and gas analyst at GlobalData, comments: "The bearish near-term outlook for the industry has forced many companies to reassess their forward expenditure.. Integrated oil and gas companies have reported the largest volume of capex reductions for 2020..