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White House Considering Federal Aid for Oil & Gas Companies

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   |    Wednesday,March 18,2020

The White House is said to be considering providing federal assistance to oil and gas companies affected by the sharp downturn in commodity prices, according to a report by The Washington Post.

Four people familiar with the matter have said that the assistance offered will likely be low-interest government loans.

Such a move would help cushion the operators that are grappling with the oil price war coupled with the worldwide industry instability spurred by the COVID-19 pandemic.

Most have responded by cutting spending plans for 2020, executive salaries or initiating job cuts in an effort to survive amidst market uncertainty.


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