Woodside Petroleum has been caught up in the Standard & Poor’s global crackdown on climate and industry risks within the oil and gas sector, as its credit rating is placed on notice for a potential downgrade.
The review of the oil and gas producer’s BBB+ rating, to be completed within “a few weeks”, comes as S&P took similar action against 12 other major players including Chevron, ExxonMobil, Shell, China National Offshore Oil Corp and ConocoPhillips. It also cut its outlook on BP and Suncor Energy to negative.
