After receiving approval from competent authority, the company has closed the sale of its 86.95% interest in Offshore Block CA 1 in Brunei to Royal Dutch Shell Plc. Apart from TOTAL, Murphy Oil ( MUR - Free Report ) and Petronas were the operators in the block, holding 8.05% and 5% interest, respectively. The company has signed an agreement to sell marketing and services businesses in Liberia and Sierra Leone to Conex Oil & Gas Holdings Ltd. Factors Impacting the Oil and Gas Industry The novel coronavirus has spread globally and forced governments across the globe to introduce different degrees of lockdown, which has adversely impacted transportation, manufacturing and commercial activities, in turn lowering the demand for crude oil and its prices.