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National oil companies (NOCs) are less prepared than their private counterparts to deal with the credit risk arising out of energy transition even though sovereign linkage provides some competitive advantages, according to Moody’s Investors Service.
A new report says that energy transition poses varying degrees of credit risk to the world’s largest such companies but NOCs in oil importing countries, where consumption will keep growing, are less exposed to carbon transition risk than those in oil exporting countries. Though India falls under the first category, NOCs dominate the upstream and marketing segments with 20 per cent of the government’s indirect tax
