OREANDA-NEWS. December 15, 2015. Fitch Ratings has updated its "EMEA Oil and Gas Peer Study", which provides a comparative analysis of the key factors influencing Fitch's oil and gas ratings.

Degree of vertical integration, upstream production dynamics, reserve base and the ability to contain costs are key operating factors considered when allocating oil and gas companies to different rating categories. Key financial factors such as leverage and coverage complete the analysis. For oil and gas companies Fitch considers industry-specific ratios, such as gross adjusted debt-to-proved reserves or cycle ratio, in conjunction with traditional credit metrics.

The issuers covered in the special report include Royal Dutch Shell plc, Total SA, BP plc, Eni SpA, BG Energy Holdings Ltd, OMV AG and Repsol SA