Moody says importance of petroleum to mainland economy supports ratings on petro

Moody said as oil business is so important to mainland economy and plays a role of strategy, the factors rend support to ratings on oil and natural gas companies.

In mainland oil and natural gas sector, only China National Offshore Oil Corporation (0883) owned ratings of Moody by Baa2.

Moody explained that they have taken regulatory environment, outlook of business, financial status and management system into consideration before granting the ratings. Moody said they will pay close attention to mainland regulatory environment as any great changes in relevant policies will impose great influence on financial status of the company.

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