COVID-19 vs ASEAN Energy Sector: Oil & Gas (Q2)

Rika Safrina and Silvira Ayu Rosalia

Thursday, 23 Jul 2020

Key Points

The winding road as an impact of pandemic gives pressure in the oil and gas market. It became a serious challenge to survive amid unfavourable circumstances, such as putting off some projects, cutting output, and tightening financial policy. The current crisis might also act as an energy transition catalyst, thus the oil and gas sector must be able to adapt to provide clean energy. Regardless, there is still optimism when the easing of containment measures occurred in many countries which bring some relief in the recovery time.

This energy insight is supported by the ASEAN Climate Change and Energy Project (ACCEPT), funded by the Norwegian Government under the Norwegian-ASEAN Regional Integration Programme (NARIP) and is jointly implemented by the ASEAN Centre for Energy (ACE) and the Norwegian Institute of International Affairs (NUPI). The project includes the active involvement of key ASEAN stakeholders and helps enhance modelling, analytical and regional policy planning capacities within ASEAN.

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