Rating agency S&P warns 13 oil and gas companies they risk downgrades as renewables pick up steam

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Firms including Woodside, Chevron, Shell and Exxon Mobil, told they could be downgraded within weeks

Rating agency S&P has warned 13 oil and gas companies, including the some of the world’s biggest, that it may downgrade them within weeks because of increasing competition from renewable energy.

On notice of a possible downgrade are Australia’s Woodside Petroleum as well as multinationals Chevron, Exxon Mobil, Imperial Oil, Royal Dutch Shell, Shell Energy North America, Canadian Natural Resources, ConocoPhillips and French group Total.

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from The Guardian https://ift.tt/2NGQc0r

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