Cairo - Mubasher: Fitch Ratings said Monday that oil and gas producing companies and oil refiners will face pressures in 2016 due to falling demand and prices decline.
“Oil and gas projects in the Middle East are exposed to market risk and have seen a reduction in cash flows but remain resilient due to low break-even prices," Fitch said in a research note published on its website.
Oil and gas projects in the Middle East are exposed to market risk.
Fitch added that pricing pressure in Asia i may intensify with the development of new trading hubs, with incumbent producers protecting market share.
