S&P expects Petronas to remain resilient
But the ratings agency says Asia-Pac oil-and-gas players may be downgraded if oil prices continue to languish
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Kuala Lumpur
STANDARD & Poor's (S&P) has warned of downgrades to the ratings of Asia-Pacific oil and gas players such as Malaysia's Petronas, should oil prices take a longer-than-expected time to recover and the companies fail to react to the changing environment.
The financial flexibility of some players has already been greatly reduced, said the global ratings agency, which anticipates a rebound in oil prices from 2016. It expects Brent crude to average at US$65 a barrel in 2016 - US$10 more than in this year - and to rise to US$80 in 2017 and beyond.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
