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U.S. Government Explores Way to Grant Loan to Oil Sector

Written by Roberta Souza
Published on 28/04/2020 at 21:42
governo, estados unidos, petróleo
governo, estados unidos, petróleo
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The American President, Donald Trump, announced this Tuesday (28) that he has asked his cabinet to outline an emergency plan to assist the oil and gas sector, which has been experiencing constant declines due to the crisis generated by Covid-19.

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Steven Mnuchin, in an interview with Fox News, says that the measure is an option that the White House “is closely studying” along with the Secretary of Energy and rejected “a financial bailout that benefits shareholders.”

The lockdown measures to combat the virus are still in effect in various countries around the world, causing both transportation and factories to be interrupted, as well as a drastic decline in energy demand.

This Monday, the American oil market experienced strong turmoil, with a lack of storage space for the commodity, the June contract for American light crude dropped to a negative value of US$ 37.63 per barrel, in a situation never seen before in this market. Meanwhile, Brent crude fell to its lowest value in two decades.

One of the options that was questioned in a briefing at the White House and is being studied by the American Treasury Secretary is for the U.S. government to become part of the energy sector companies in exchange for the financial assistance that would be granted.

Roberta Souza

Author for the Click Petróleo e Gás portal since 2019, responsible for publishing over 8,000 articles that have garnered millions of views, combining technical expertise, clarity, and engagement to inform and connect readers. A Petroleum Engineer with a postgraduate degree in Industrial Unit Commissioning, I also bring practical experience and background in the agribusiness sector, which broadens my perspective and versatility in producing specialized content. I develop content topics, disseminate job opportunities, and create advertising materials tailored for the industry audience. For content suggestions, job vacancy promotion, or advertising proposals, please contact via email: santizatagpc@gmail.com. We do not accept resumes

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