Oil majors face credit downgrades amid rising investor pressure
S&P has placed 13 IOCs, including ExxonMobil and Shell, on negative watch, while investment giant BlackRock warns of ‘tectonic shift’
Pressure on the oil and gas sector is rapidly accelerating as investors look to ditch companies that will not be sustainable businesses over the course of the energy transition—with two major financial institutions singling out the sector. Yesterday, 13 of the world’s largest fossil fuel companies were told their credit ratings could be downgraded within just a few weeks due to the growing risks to their businesses from the energy transition, oil price volatility and weaker profitability. US credit ratings agency S&P Global Ratings placed the companies—including ExxonMobil, Total, Chevron and Shell—on ‘credit watch’ while it consider downgrades. Credit ratings—which assess the credit ris

Also in this section
27 May 2025
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU
27 May 2025
Carbon capture, utilisation and storage needs stable policy, investable frameworks and coordinated infrastructure if it is to be developed at scale
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition