Windfall Tax: Ithaca to benefit, EnQuest and Neptune to feel the pinch
Ithaca Energy (LON: ITH) will benefit from recent changes to the windfall tax, but rivals Neptune Energy and EnQuest (LON: ENQ) will be harder hit, according to new research.
Ithaca Energy (LON: ITH) will benefit from recent changes to the windfall tax, but rivals Neptune Energy and EnQuest (LON: ENQ) will be harder hit, according to new research.
Power prices in Europe are tipped to remain at โhistorically high levelsโ, at least in the medium term.
Oil and gas investments by Europeโs three largest integrate energy companies are likely to remain significant through to 2030.
The prospects for Indonesiaโs Saka Energi appear to have improved based on the latest analysis from Moodyโs Investors Service, which revised the troubled upstream playerโs outlook from negative to stable.
Oil giant BPโs quest to transition away from fossil fuels and become a net-zero emitter by 2050 has left it caught in a โconundrumโ, analysts said yesterday.
Commodity prices and refining margins will need to rise before pressure on BPโs credit rating eases up, Moodyโs warned yesterday.
Nigeria and Angola face particular pressures as a result of the oil price crash, a new report from Verisk Maplecroft has warned.
Sasol has set out plans to reduce throughput at some of its plants, as South Africa goes into lockdown, while ratings agencies have become more cautious on the companyโs outlook.
Sasol โwill prevailโ, the companyโs CEO Fleetwood Grobler said on a conference call intended to reassure investors and employees. The plan should stabilise the company, protect the balance sheet and preserve stakeholdersโ interests.
Exxon Mobil Corp. had the outlook on its top-notch debt rating lowered by Moodyโs Investors Service Inc. to negative due to a โsubstantialโ cash burn to fund growth.
Continued stability in the global oil and gas industry is expected to deliver a record ยฃ57.7 billion in dividend payments for investors next year.
Brent crude is unlikely to go above $70 a barrel through 2020, according to US credit rating agency and financial analyst Moodyโs.
Debt levels at oil field services companies have reached "unsustainable" levels, the debt rating agency Moody's Investors Service said in a new report.
Shell, BP and Total are among the majors set to reap the benefits of the higher oil price, according to Moodyโs.
Oil and gas majors have pulled off a strong recovery in the 12 months to June 30, and further improvements will follow in the second half of 2017, a Moodyโs oil analyst said.
Moodyโs has downgraded Petrofacโs rating after an investigation into fraud at the oil service company was opened.
Centricaโs sale of its 50% interest in a wind farm off the coast of Lincolnshire was โcredit positiveโ, according to Moody's.
Three of the worldโs largest energy companies had their credit ratings lowered by Moodyโs Investors Service on the expectation that oil prices will stay low for longer and cause leverage concerns.
Origin Energy has escaped having its credit rating changed to โjunkโ status by Moodyโs.
Moody's Investors has downgraded the credit rating of Mexican state oil company Pemex.
Houstonโs $3 billion of general-obligation debt was cut one level by Moodyโs Investors Service, which cited weakening economic performance due to lower oil prices, the cityโs pensions obligations and restrictions on raising taxes.
A string of local governments in West Texas face a Moodyโs downground as low sub-$50 oil leaves the region in a vulnerable tax position.
More than 100 energy companies have had their credit ratings put on review for possible downgrade by Moodyโs Investor Service. Shell, Total and Statoil are included in the move as oil prices are expected to recover more slowly than companies expect.
Moodyโs said as commodity prices continue to slide, the global oil and gas industry will reduce capital spending and work towards leaner budgets this year. The investorโs service said lower commodity prices have led to deterioration in cash flows and liquidity, which has strained the already limited financial flexibility of oil and gas companies.
Asiaโs top commodity trader exits 2015 in very different shape to how it began the year. Noble Group Ltd. has lost almost two-thirds of its value, with its stock trading near the lowest since 2008, after a year of attacks on its finances by critics including the anonymous Iceberg Research and short-seller Muddy Waters LLC. The latest blow, amid a rout in raw materials, is the cut in its credit rating to junk by Moodyโs Investors Service on concerns over its liquidity.