1 February 2021 11:42 GMT Updated 2 February 2021 14:56 GMT in London
S&P Global Ratings (S&P) is considering downgrading the credit ratings of nine of the world’s largest oil companies in a move that analysts said could deter them from investing in greener forms of energy or help accelerate spin-offs of their renewable energy businesses.
S&P the largest of the three ratings agencies last week warned companies including Shell, ExxonMobil, Chevron and Total, as well as some subsidiaries, their credit ratings could be downgraded within weeks amid concerns about increased risk due to the energy transition.
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