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Oil majors, governments haggle over sharing pain of deepest cuts ever witnessed

Azerbaijan city Moscow Angola Nigeria Kazakhstan pandemic Government Coronavirus
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Output cuts add to pain of low oil prices, poor fuel sales; oil majors to see steepest output fall in Q2 in decades LONDON/MOSCOW: From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic.

Oil majors have traditionally escaped big cuts in OPEC nations, such as Nigeria, and have never experienced curbs in countries outside the OPEC club, such as Kazakhstan, where they are protected by special clauses agreed with governments.

But those production sharing agreements (PSA) are being laid aside following a pact between the Organization of the Petroleum

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