Photo by Zbynek Burival on Unsplash

5 MAY 2020

Torrents of corruption swept across oil-producing countries from 2008 to 2014, when the price of oil reached historic heights. I covered this deluge in my recent book Crude Intentions: How Oil Corruption Contaminates the World. But when discussing the book recently, I’ve been asked: what does oil corruption look like now that prices have reached historic lows, and companies and oil-producing governments are struggling to stay afloat? Some possibilities are on display here in the U.S., as industry bigwigs call in favors from their political allies in government and Congress. Other risks can be found wherever corporations…

The battle against the coronavirus is above all a public health crisis. Needless to say, the response to the crisis is having enormous economic repercussions. Some countries have imposed sweeping shutdown and isolation measures to contain the spread. As a result, businesses are closing and unemployment is soaring.

Countries that are net exporters of oil and gas will perhaps experience the biggest shock. As of early April, Brent crude was trading at USD 25 per barrel and forecast to decline, a result of plummeting demand, a growth in supply and a lack of storage capacity. …

Natural Resource Governance Institute

Ensuring that countries rich in oil, gas and minerals achieve sustainable, inclusive development

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