Mozambique: Country's sales of gas to September total $1.177B, double 2022 total
Sputnik (File photo)
Moody’s Investors Service raises its outlook for the global integrated oil and gas sector to positive from stable as higher profits from upstream operations fuel a faster recovery in earnings growth
Earnings growth for the sector will likely hit 13 to percent in 2017 if oil prices remain around $40 to $60 a barrel, Moody’s said in a report on Tuesday
This follows declines in earnings in the sector of 12 percent in 2016 and 40 percent in 2015
Higher profit from upstream operations is the main driver behind accelerated recovery in the sector’s earnings, as production costs were cut by 20 to 30 percent in 2015 to 2016, according to Moody’s
The sector’s capital expenditure will likely plateau at around $130 billion-$135 billion in 2017-18, similar to the level achieved in 2016
M&A activity will likely increase as fundamental conditions in the sector continue to improve
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.