Growing concerns from US and European investors and regulators over the sustainability of integrated oil and gas companies’ business models have brought forward their potential impact on the sector’s credit quality to the medium from long term. Scope Ratings says the near-term, 2020 credit outlook for the integrated oil & gas sector remains stable.
repsol zero emissions
Repsol expects to adjust the accounting value of some assets, with a post-tax accounting charge of approximately 4.8 billion euros in order to achieve net zero emissions by 2050. This adjustment will reduce specific reported income for 2019 but does not alter the company’s cash flow for the year nor the announced proposal to increase shareholder remuneration.