Reuters Refiner Phillips 66 (PSX.N) on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply. As U.S. crude prices last week touched their lowest point in nearly two decades, oil and gas
Houston Chronicle Exxon Mobil Corp. had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth. The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities and refinery
Tallgrass Energy Announces Investment Grade Credit Ratings for Tallgrass and Rockies Express Pipeline
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