S&P acts on more oil, gas companies

S&P said it took rating actions on 10 Europe-based integrated oil and gas groups and exploration and production companies as part of its global review of the sector following the oil price collapse.

S&P said it revised the outlooks to negative and affirmed the ratings on Aker BP ASA, Eni SpA, Equinor ASA, and Total SA. The agency also revised the outlooks to stable from positive and affirmed the ratings on BP plc, MOL Hungarian Oil and Gas plc and Repsol SA.

In speculative grade, S&P lowered the ratings on EnQuest plc to CCC+ from B- and revised the outlook to negative from positive and the ratings on Tullow Oil to CCC+ from B and maintained the negative outlook. S&P also affirmed its BB- ratings on Neptune Energy Group Midco Ltd. and revised the outlook to negative from positive.

In other separate rating actions in recent days S&P downgraded Exxon Mobil Corp. to AA from AA+ and revised the outlooks on both Chevron Corp. (AA) and Royal Dutch Shell plc (AA-) to negative from stable. The ratings and outlooks on Cepsa (BBB-/stable) and Matador Bidco Sarl (BB-/stable) are unchanged.

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