Moody’s cut the credit ratings of Chevron and Royal Dutch Shell by one notch, and cut the credit rating of French oil giant Total by two levels. Both Chevron and Shell were downgraded to Aa2 from Aa1. Moody’s cut Total’s rating from Aa1 to Aa3. Source: OilPrice
Singapore has a message for Elon Musk, taking mass transit is a better climate-change solution than tooling around in one of his Tesla Inc’s electric vehicles. The city-state, which has said its efforts to cope with climate change are as crucial as military defence, has prioritised greater use of its trains and buses, Masagos Zulkifli, minister for environment and water resources, said in an interview Wednesday. Source Free Malaysia Today
Saudi oil giant Aramco has chosen to work with Lazard and Moelis as advisors for the initial public offering (IPO) of the world’s largest oil firm, people with knowledge of the plans told Bloomberg on Tuesday. Moelis and Lazard are set to have key roles in the listing, including picking the venues and underwriters, and trying to meet valuation expectations, Bloomberg’s sources said. Source Oil Price
- High-end hotels and others all struggling as occupancy rates plummet
- Staff say they are being forced to take leave in what is normally peak season Souce CNBC
