Moody’s: Outlook for global energy industry revised to positive on higher prices, recovery in demand | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR, April 26 — The outlook for the global energy industry has been changed to positive from stable, Moody’s Investors Service says in a research published today. A sustained uptick in commodity prices on the back of a recovering global economy is set to bolster a turnaround in...

Monday, 26 Apr 2021 08:15 PM MYT

Moody’s maintains its medium-term commodity price ranges of US$45-US$65 per barrel for oil and US$2.00-US$3.00/MMBtu for Henry Hub natural gas. Favourable market dynamics and relatively low operating and offshore services costs will bolster exploration and production companies’ earnings and operating cash flow in 2021 on the back of higher oil prices, Nadtotchi says.

Meanwhile, strong earnings in the global E&P and refining sectors will see integrated oil companies’ earnings rise by a median rate of about 50 per cent, though off a low base. Adjusted EBITDA almost halved in 2020, and likely won’t return to pre-pandemic level before the end of 2022.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines