When a week ago, Rystad Energy reported that the oil and gas industry was divesting more than 12 billion barrels of oil equivalent in assets, it hardly came as a surprise. Asset sales, along with layoffs, are the default reaction of the industry to hard times. But is anyone buying? It has been said time and again, but it’s worth noting nonetheless: This oil crisis is not like the ones before it. It is, above all, a demand crisis rather than a simple imbalance between supply and demand. And, also unlike in previous price crashes, even the oil executives don’t know if demand will ever return to pre-crisis levels. In fact, some believe it might never recover fully. And this makes selling assets a tad harder than it would have been otherwise. There are already signs of that. BP had to slash the price of the North Sea assets […]