Energy majors are hoping for the best but preparing for the worst. Oil and gas companies are among some of the world’s biggest and best capitalized businesses now scrambling for cash as the coronavirus continues its spread around the world. Hard hit by the demand-sapping pandemic and rising crude supply from Saudi Arabia, oil majors and shale producers are looking to boost their balance sheets. Shell said Monday that it is halting its share buyback program and cutting spending as it manages the fallout. The Anglo-Dutch company preserved its dividend but paused the $25 billion share buyback program it launched in July 2018. It will reduce investments by 20% to $20 billion. Norwegian energy giant Equinor delayed its program of buying back up to $5 billion in shares by 2022. And U.S. giant Occidental slashed its dividend earlier this month. Falling crude prices, which have dropped by half in […]