At a meeting with U.S. oil executives on Friday, the White House proposed allowing the use of the Strategic Petroleum Reserve for temporary storage of swelling inventories but pledged no specific support for the struggling industry.
Texas faces an outsized impact from COVID-19, with more than 70 oil producers in financial peril due to the oil price drop and scarce shale financing; the active rig count fell to 338, the lowest in three years.
Nova Chemicals paused construction of its Sarnia, Ontario, expansion to protect workers from COVID-19.
The COVID-19 crisis is exposing the prevalence and risk of supply chain financing, where companies extend short-term payables to bolster cash flow and the appearance of their balance sheets.
NOTICE TO CLIENTS: M. Holland Company will be closed on Good Friday, April 10. Our Mexico operations will be closed on Thursday and Friday.
We have canceled our annual Business Conference in June due to COVID-19 and our concern for the safety and well-being of Mployees and attendees.
M. Holland is open for business, deemed essential and will continue to operate at full capacity. We have issued the following status statement:
In accordance with the guidance provided by the U.S. Department of Homeland Security Cybersecurity & Infrastructure Security Agency (CISA), M. Holland Company is considered a member of a critical infrastructure industry and will therefore remain operative. As such, with any necessary accommodations made to ensure the health and safety of our staff and business partners, we will continue to fully perform our normal business operations.
M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.