Steep drop in oil prices to affect Asian O&G firms, says Moody's

SINGAPORE: The steep drop in crude oil prices will affect Asian oil and gas companies, says Moody's Investors Service.

In a statement on Monday, Moody's vice president/senior credit officer, Vikas Halan, said the drop in crude oil prices since mid-2014 would reduce the earnings and cash flows of Asian O&G firms and weaken their credit metrics in 2015.