Asian Oil Refiner Bonds Weather Oil Plunge as Producers Suffer
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Not every oil and gas company is suffering equally from crude’s rout.
In the Asian bond market, refiners are weathering the plunge in oil prices better than production firms whose revenues are dropping. The extra yield investors demand to hold producer Oil & Natural Gas Corp.’s 4.625 percent 2024 notes rose above the premium on Bharat Petroleum Corp.’s 4 percent 2025 securities in November for the first time since issuance and remains 13 basis points higher, according to data compiled by Bloomberg.