Largest shale oil and condensate producers in the U.S. 2020
Coronavirus' impact on oil & gas industryThe oil and gas industry has seen various challenges as the world moves towards clean energy and many governments implement tougher climate policies. The 2020 coronavirus pandemic presents yet another challenge, as oil demand declines and many oil supermajors are left scrambling to revise capital expenditures for the year.
As a result of this crisis, 2020 has already seen a number of considerable mergers and acquisitions of financially compromised companies. ConocoPhillips announced plans to acquire Concho Resources, while Devon Energy has proposed a merger with WPX Energy. Meanwhile, Chevron bought hydrocarbon exploration company Noble Energy.