Petrofac warns of project delays on COVID-19, lower oil prices

(Reuters) - Petrofac Ltd on Friday warned of delays in new projects until 2021 due to coronavirus-induced supply chain disruptions and travel restrictions as well as lower oil prices and said it was taking steps to conserve cash.The crash in oil prices has pushed producers across the globe to review spending and cut costs, as the outlook for oil and gas demand and supply remains uncertain. Last month, Abu Dhabi National Oil Company (ADNOC) terminated $1.65-billion worth of contracts awarded to..