As international oil companies (IOCs) grapple with a historic plunge in crude prices, a rise in piracy is also poised to threaten supply chains.
The first quarter of 2020 saw a spike in piracy around the world, with 47 attacks compared to 38 for the same period last year, according to the International Maritime Bureau (IMB).
The Gulf of Guinea, a key production hub surrounded by eight oil exporting countries in West Africa, has emerged as a global hot spot, accounting for 21 attacks so far this year and 90% of all kidnappings at sea in 2019.
