The Pulau Bukom manufacturing site in Singapore houses Shell's biggest wholly-owned refinery.The contractor working at the Bukom site tested positive for coronavirus now labelled Covid-19 on Thursday, according to Shell statement on Friday.
A Shell spokeswoman said that as a precautionary measure, personnel who shared the same work area as the contractor were placed on leave of absence. "We have thoroughly cleaned and disinfected the worker's work area and common areas in accordance with guidelines," she told Reuters.Singapore has reported 67 cases of the virus, which means the city state has one of highest tallies of the disease outside China.
In its latest report, The International Energy Agency (IEA) noted that the impact of coronavirus on global oil demand would be "significant.”Oil prices have already tumbled around $10 per barrel for Brent crude, down to below $55 per barrel, before stabilising at $59 as of writing.
The IEA has forecast a 435,000 barrel per day (bpd) drop in global oil demand year-on-year for Q1 2020, due to the coronavirus outbreak. This is the first quarterly drop in demand in more than 10 years.The energy body cut its 2020 growth forecast by 365,000 bpd down to 825,000 bpd, which is the lowest since 2011.
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