S&P said Petronas’ solid record of maintaining a strong balance sheet, and the company's status as a dominant hydrocarbon producer in Asia tempers the incremental industry risk.
KUALA LUMPUR: S&P Global Ratings has raised the industry risk for the oil and gas (O&) companies in the exploration and production (E&P) business to moderately high risk from intermediate risk on greater shift towards renewable energy.
It said on Monday increasing adoption and transition of renewable energy alternatives to address climate change could affect the supply and demand for O&G, and therefore producers of fossil fuel.
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