Fitch Ratings has cut Saudi Aramco’s rating to A from A+, following its downgrade of Saudi Arabia.
Credit rating agency Fitch has downgraded Saudi Arabia over the increase in diplomatic and military tensions in the region after the kingdom's biggest oil processing facility was attacked.
French group Total has to make the steepest cuts to investments and shareholder returns among Europe's oil majors if crude prices remain weak, in order to maintain its current credit rating, Fitch said today.
BP’s rating outlook has taken a hit in the wake of additional Macondo fines. Fitch Ratings downgraded the industry giant’s default outlook from stable to negative. The firm cited outstanding fines and a dipped oil price for the slide.