Powered by

Oil majors' financial performance will suffer: Moody's

Apr 09, 2020 - New Straits Times

KUALA LUMPUR: Oil majors’ financial performance will suffer significantly as a result of the drop off in oil and gas prices, Moody’s Investors Service said.

Refining and chemical earnings will also be suppressed by the Covid-19 pandemic demand shock,

Moody’s said oil majors, however, had proved resilient to extreme price volatility during the last oil price crash.

Moody’s senior vice president Sven Reinke said oil majors such as Royal Dutch Shell Plc, Chevron and Fra...