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Moody’s: Global integrated oil, gas business stabilizing

Posted on 04 October 2016

The global integrated oil and gas business is stabilizing and will likely improve modestly from recent historical lows over the next 12-18 months, says Moody’s Investors Service in a recent report. The report—“Integrated Oil & Gas: Global Oil Price Uptick, Accelerated Cost Cuts Put Upstream Activities on Road to Recovery”—says higher oil prices and lower operating costs are driving a steady improvement in companies’ earnings.
“Over the last year, integrated oil and gas companies have accelerated reductions in their operating costs to adjust to earlier oil-price declines. As a result, most companies’ upstream operations returned to positive net income generation in the second quarter of 2016, while also benefiting from an uptick in the price of crude,” said Elena Nadtotchi………………………………………Full Article: Source


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