1215 GMT - European energy majors look set for a year that will test their balance sheets amid risk of excess oil supply, muted oil-and-gas prices in 2025, policy uncertainty and potential trade wars, RBC Capital Markets analysts say. As such, they prefer companies with balance-sheet resilience, naming Galp, TotalEnergies, Shell and Eni, while being cautious on downstream-heavy ones like Repsol and BP. "The era of volatility is far from over," the analysts write in a research note. "We see financial frameworks being more stretched than in recent years, which brings more tension to each dollar of cash generated." (christian.moess@wsj.com)
(END) Dow Jones Newswires
December 05, 2024 07:15 ET (12:15 GMT)
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