Washington considers loans to troubled oil companies

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US Treasury Secretary Steve Mnuchin insists there will be no shareholder bailouts. FMTNews Washington

WASHINGTON: The US administration is considering loans to energy companies hit by the global economic shutdown caused by the coronavirus pandemic, Treasury Secretary Steve Mnuchin said Sunday.

“The secretary of energy and I are studying it and we’re looking at it very carefully,” he said on Fox News Sunday. On Friday, Mnuchin told reporters that one of several possible alternatives was for the government to take equity stakes in troubled oil companies.

 

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