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Energy & Natural Resources

Global Home > Energy & Natural Resources
Why Forum

Why “Perverse Incentives” Are Hurting the Solar Market

Infrastructure analyst Cherian George looks at changes in the solar panel market. Growth in residential solar panel installations has sputtered in recent years and an eerie parallel from a decade ago — namely elements of the mortgage crisis — may be part of the reason.

Webcast

Fitch Ratings: An Overview on PEMEX

NOW Available On-Demand

Fitch Ratings hosted a webcast with Lucas Aristizabal, the primary analyst on PEMEX, and Charles Seville, Co-Head of the Americas Sovereign Ratings. Topics of discussion include an overview on PEMEX in light of its recent downgrade and other key rating drivers. Questions from the audience were also addressed.

Fitch Downgrades PEMEX's IDRs to 'BBB-'; Outlook Negative

Fitch Ratings has downgraded Petroleos Mexicanos' (PEMEX) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'BBB-' from 'BBB+' and its National Long-Term ratings to 'AA(mex)' from 'AAA(mex)'. The Rating Outlook is Negative. 

Webcast

What Investors Want to Know - Utilities’ Renewables

Fitch Ratings senior analysts discussed the most frequently raised questions from investors in the European Utilities Renewables sector.

  • Fitch’s view on the changing business environment for renewables and implications for credit profiles                    
  • A discussion around the renewables competitive landscape
  • Portfolio analysis for some large European Utilities, featuring: Enel, Iberdrola, EDP, the new RWE and Orsted

Listen to Webcast On Demand

OPEC+ Supply Controls Are Key for Medium-Term Oil Prices

Changes to Fitch Ratings oil and gas price assumptions are modest, but we believe that supply controls will support medium-term oil prices in the range of USD60-USD65 a barrel for Brent crude. In the longer term, we continue to expect prices to fall below USD60/bbl driven by the falls to marginal producers' full-cycle costs.

2019 Outlook

Renewables Growth to Raise APAC Energy Sector Competition

Coal will continue to dominate the fuel mix across most of the region, but a steady shift toward renewables, particularly in developed economies, could create competitive pressures for some coal-based power projects.

US Midstream Sector Ramping Up on Hope of Higher Oil Exports

Record crude production in the US and the prospect of increased exports is prompting midstream energy companies to build pipeline, storage and export terminals that accommodate very large crude carriers.

Special Report

U.S. and Canadian E&P Transactions

Activity continues to slow and Permian volumes and valuations remain robust according to a Fitch Ratings report. View the new interactive Oil & Gas Valuation Heatmap for transaction comparison and deals by county. Compare yearly data and read the full report

Asian Demand Could Create Deficit in Global LNG Market

Market expectations of oversupply and weak gas prices have curtailed new investment activity in the sector in the past two years. Limited capacity additions beyond 2020 should be positive for spot prices, especially in Asia and Europe. This will benefit LNG projects with significant uncontracted volumes and those linked to gas spot prices.

Russian Oil Restore Pre-2015 Profits, Gazprom Lags Behind

Most Russian oil producers restored 2017 profitability close to 2014 levels due to a price rebound. The outlier was Gazprom as its 2017 EBITDA significantly declined compared to 2014, partly due to a different tax structure applied on gas and lagging gas price increases.

Electric Vehicle Growth Could See Oil Demand Peak By 2030

Electric Vehicle (EV) adoption is an increasing threat to oil demand, which could plausibly peak before 2030. This is not our core scenario, but developments in 2017 show how technological changes and greater product awareness could lead to annual sales of 10 million battery-powered EVs by 2025.

rating action

E.ON's 'BBB+' on Rating Watch Negative

The RWN reflects the risk that E.ON's balance sheet could come under pressure from taking over most of innogy's debt (EUR16.4 billion at end-2017, which includes the company loans from RWE of EUR1.7 billion) and the potential voluntary public takeover offer in cash to innogy's minority shareholders. Relatedinnogy's 'BBB+' on Rating Watch Negative

Shale is Still the Key Long-Term Constraint on Oil Prices

The OPEC-plus production cut agreement has improved the near-term outlook for oil prices, but US shale growth and responsiveness should result in a production surplus this year. We think that this is likely to take prices back below USD60/bbl, and that shale's ability to meet a significant portion of global demand growth will keep prices in the USD50-60/bbl range over the long term. 

Execution of New Rules Key for Indonesia Gas Companies

The impact on gas distributors from Indonesia's new regulations for determining natural gas prices and awarding transmission and distribution rights hinge on their implementation.

US Energy States Are Recovering; Resiliency Weakened

The rising price of oil and crude oil production increases are improving the economic and financial stability in most oil-producing states. However, the natural resource (NR) states' revenue growth prospects remain constrained and, for many, financial resiliency has become weaker.
 

Contacts

BUSINESS ENQUIRIES

Jill Zelter

Global Group Head & North America

BUSINESS ENQUIRIES

Anjali Sharma

Europe, Middle East, Africa

BUSINESS ENQUIRIES

Kathleen Fuentes Holtzman

Latin America

BUSINESS ENQUIRIES

Sing Chan Ng

Asia-Pacific

Banker ENQUIRIES

Matthew de Mendonca

North America

Banker ENQUIRIES

Sean Costello

Europe, Middle East, Africa

Investor ENQUIRIES

Aymeric Poizot

Global Group Head & Europe, Middle East, Africa

Investor ENQUIRIES

Ian Rasmussen

North America

Investor ENQUIRIES

Frank Laurents

Latin America

Investor ENQUIRIES

Helen Wong

Asia-Pacific

ANALYTICAL ENQUIRIES

Shalini Mahajan

North America

ANALYTICAL ENQUIRIES

Lucas Aristizabal

Latin America

ANALYTICAL ENQUIRIES

Peter Archbold

Europe, Middle East, Africa

ANALYTICAL ENQUIRIES

Buddhika Piyasena

Asia-Pacific

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