Phillips 66, Shell, Toyota, Facebook, Microsoft Add to List of Projects Delayed by COVID-19
Phillips 66, Shell, Toyota, Facebook, Microsoft Add to List of Projects Delayed by COVID-19
Attachment: COVID040320
SUGAR LAND--April 3, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--In just three days, the total investment value for global projects experiencing or facing delays due to COVID-19 has more than doubled, according to Industrial Info's project database. Leading companies in the Petroleum Refining, Power Generation and Chemical Processing industries, such as Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands), Phillips 66 (NYSE:PSX) (Houston, Texas) and Methanex Corporation (NASDAQ:MEOH) (Vancouver, Canada), are slashing their spending outlooks and delaying major capital projects. Industrial Info is tracking more than $290 billion in global projects that have been delayed due to COVID-19, including more than $100 billion worth in the U.S.
Within this article: Details on a variety of projects, both big-ticket capital and low-value maintenance, that have been delayed due to COVID-19. Other affected companies include Universal Industrial Gases Incorporated, Jones-Hamilton Company, Duke Energy Corporation (NYSE:DUK), Facebook Incorporated (NASDAQ:FB), Microsoft Corporation (NASDAQ:MSFT), Daimler AG and Toyota Motor Corporation (NYSE:TM).
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