Bloomberg News: Jacqueline Poh: May 29, 2020: 10:51 AM EDT
Bloomberg) — Oil and gas companies worldwide have raised $171 billion of debt from the loan and bond markets since March after the coronavirus pandemic hit demand for fuel.
The $171 billion tally is equivalent to the volume of bonds sold for the industry in the whole year of 2019. The debt pile is set to grow further with almost $120 billion of borrowings due by the end of the year that will need to be either repaid or refinanced. Of that amount, $43 billion is in bonds and $76 billion in loans.