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COVID-19 - News digest as of 08.10.2020

October 08/2020

1. Pandemic pushes up cost of Norway oil and gas projects

MOSCOW (MRC) -- The COVID-19 pandemic has interrupted the development of Norway's offshore oil and gas projects, pushing up costs and postponing startups, the government and oil company Equinor announced, said Hydrocarbonprocessing. The costs of ongoing projects rose by 13.2 billion Norwegian crowns (USD1.4 billion) from a year ago on an inflation-adjusted basis, government documents showed, as COVID-19 restrictions stalled construction at several fields. "The COVID-19 pandemic and weakened Norwegian (currency) have negatively impacted some of the projects, but the combined project portfolio is still very resilient," Equinor said in a separate statement.

2. WSAVA stresses no new evidence of COVID-19 transmission from pets

MOSCOW (MRC) -- Experts have stressed there is no new evidence of COVID-19 virus transmission from pets to people, said Chemweek. During a recent webinar hosted by the World Small Animal Veterinary Association (WSAVA), speakers highlighted animals that have been infected with SARS-CoV-2 have displayed only mild symptoms and there is no evidence of transmission from a companion animal to a new human. This means if a pet caught the virus from their infected owner, there is no evidence the animal will then pass it to another person in the household.

3. Weir Group to sell oil & gas division to Caterpillar, shares surge

MOSCOW (MRC) -- Weir Group Plc announced it had agreed to sell its oil and gas division to US heavy equipment maker Caterpillar Inc for USD405 million in cash, as the engineering company focuses on its mining business, as per Hydrocarbonprocessing. Shares of Weir surged 22.5% to 1,568p, on track for their best day in more than 20 years. The deal, which follows a collapse in global oil prices and a swathe of bankruptcies in the sector, will have a USD70 million US cash tax benefit for Weir, the company said. In July, Illinois-based Caterpillar, considered a bellwether for economic activity, warned of continued sluggishness in equipment sales due to the coronavirus pandemic, with its main customers in highly cyclical businesses such as mining and construction.
Author:Margaret Volkova
Tags:crude and gaz condensate, petrochemistry, Equinor, COVID-19, Norway.
Category:General News
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