US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
S&P Global Ratings
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Natural gas demand fell only 3% in 2020 as a result of COVID-19 but its future is looking bleaker, a new report from S&P Global has warned.
Jobs are under threat at Aberdeenshire-based energy service firm Proserv, it has emerged.
North-east energy service Proserv has highlighted “proactive measures” to protect the business amid challenging trading conditions after a leading credit ratings agency delivered a grave assessment of its future prospects.
America’s withdrawal from the Paris Climate Agreement at the insistence of President Trump should not hugely impact future clean energy initiatives, claim S&P Global Ratings, Chatham House and Sund Energy.
A global credit ratings agency said yesterday that its outlook remained negative for Total following the French oil and gas major’s full year results.
A global credit ratings agency today revised its outlook on Shell to positive after the oil major outstripped expectations for 2016.