Fitch affirms Energy Development Oman at BBB- with stable outlook

zawya.com

Fitch Ratings affirmed state-owned Energy Development Oman at investment-grade 'BBB-' with a Stable Outlook, citing resilient cash generation, low leverage, and large-scale upstream operations. The state-owned company, wholly owned by Oman's government, holds the state's interest in Petroleum Development Oman, whose Block 6 concession produces most of the country's oil and gas. Fitch expects attributable production to exceed 850,000 boe/d through 2029. Founded in 2021 under Oman's fiscal transformation, EDO supplies gas domestically for power and industry. Fitch said Middle East conflict has not materially affected operations and cited potential LNG-linked gas developments.


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Fitch affirms Energy Development Oman at BBB- with stable outlook | News Minimalist