giant oil companies have incurred heavy losses in light of the drop in oil prices and the significant decline in exploration and exploration activities due to the Corona epidemic.

According to Arabianet, PVM analyst Stephen Brennock said that oil exploration took a heavy hit this year with the collapse in demand and oil prices due to the global epidemic.

p>

exploration activities have decreased by 70%, in the North Sea in the United Kingdom, and 30%, in Norway, compared to the plans that were planned before the crisis, according to a study by the Westwood Center on Energy Published late September.

and the American company Exxon Mobil reduced 30%, equivalent to at least $ 10 billion, its investments, especially in the field of oil exploration and exploration, and also reduced the Italian Eni, British BP and Norwegian Eckenor.

The companies dealing with the energy giants are also paying a high price, as is the French CGG Group, which works in the field of analyzing the Earth's subsoil resources, which expects this year a 40 retreat % In its business number.

On the other side of the Atlantic, more than 30 exploration and production companies have gone through bankruptcy in the United States since the start of the year, according to the Texas law firm Heinz & Boone. As long as the price of WTI has remained stuck at $ 40 a barrel for a long time, 150 more companies may join it this year, according to estimates by analysts from Rystad Energy.

GBC Energy's Rafaela Heine is more optimistic. She expects that outside the US, where things take longer, exploration programs will resume in all supply areas. Major and will approach pre-crisis levels next year.

And she asserted in the past, that we have seen that massive spending cuts in the budgets of major companies have not actually affected their future production, because the search for new fields is, to a lesser extent, a matter. Najat.

Despite the changes that have been made towards producing more environmentally friendly energies, the plans of the big corporations method show that the appetite for exploration still exists, but it is colliding with the recovery of crude prices. / p>

Brent and WTI prices fell in an unprecedented way in March and April, and appear to be stuck at around $ 40 a barrel, which is a very low price This does not allow many of the players in the sector, especially the Americans, to achieve an equivalent rate of return.

and highlight ...