India Ratings & Research has maintained a stable outlook on the oil and gas sector for financial year 2015 (FY15) — for both public and private sector companies. The agency expects public sector companies to sustain strong linkages with the Government of India (GoI) or maintain business stability, in case of standalone ratings.
The existing ratings of private sector companies have sufficient headroom to withstand the impact of muted global growth and further moderation in gross refining margins (GRMs).
Although the US was so far the largest importer of crude globally, its increasing energy sufficiency may have a moderating influence on global crude oil prices. As such, in the absence of any significant adverse geo-political event, the agency estimates the average monthly brent crude prices till FY15 to be in the range of $104 per barrel to $108 per barrel. Read More