NJ Ayuk : Global Energy sectors demands a rejuvenation in the midst of this pandemic

The coronavirus is on a role to bring some more damage to the economies and financial sectors across the globe.  While that is happening, dark clouds of uncertainty are also looming above the global energy sector.

NJ Ayuk, one of the most talked-about energy experts of the current era talks about the same crisis in a broader picture.

Major drop in global energy demands

NJ Ayuk talks about the big downfall experienced by the energy sector across every part of the globe. He further quotes the recent report shared by IEA that confirms a 20 % drop in global energy demands.

Demand and supply chains have received a major blow amidst this pandemic situation and we cannot see it getting god anytime soon. Speaking of energy production, most of the projects have either been halted or stopped midways due to the ongoing lockdowns across most of the parts around the globe.

It's all about collective damage that has been received by the energy sector irrespective of the renewable or non-renewable source of energy.

Furthermore, energy production and distribution companies are living on the edge due to a lack of liquidity in their operations.

How can we combat the same situation?

NJ Ayuk guardian further says that even though it's quite hard to tackle the current situation, we still cannot call it as- ‘Impossible’. We all have to wish and pray for this virus thing to get over as soon as possible and then come up with ways to rejuvenate the energy and other key sectors in the process.

Speaking of the solution, NJ Ayuk lawyer talks about the following points in the same regards.

Recapitalization

It can be said that the energy sector is dealing with a major crisis. With this situation not expected to improve any time soon, governments and other authorities have to come up with relevant measures and policies to back the firms and companies in this sector.

Talking about support, recapitalization is the best way forward to infuse some life into the already dead infrastructure of these energy firms.

Easy credits

NJ Ayuk wife says that even if recapitalization may not be a possibility due to the economic downfall, all these firms must be backed with easy credit options from all the banks and financial authorities. This way, the energy firms can fund their operations while also paying the salaries of their employees.

On the other side, the government can expect some healthy returns on their credits once the situation gets stabilized globally.

Tax rebates

The energy sector has to deal with all kinds of taxes and duties and that proves to be a big pain in this pandemic situation. If provided with certain tax rebates, these firms can think of coming back to their feet sooner than later.