As the pandemic spreads, Russia finds a shortfall in oil revenue is hurting its ability to offer the kind of emergency support provided in the West
MOSCOW—Few Russian companies have taken the hit from lower oil prices and coronavirus lockdowns as badly as Rosgeologia, one of the biggest exploration firms here.
At the beginning of the year, it was eyeing around $400 million in new oil and gas contracts. But since then, those tenders have been canceled or put off until prices recover, and the company is selling millions of dollars in assets to maintain its cash flow. Quarantine measures to stem one of the world’s largest virus outbreaks outside the U.S. could also disrupt...
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