Chinese oil and gas companies are among the government-related entities facing credit pressures over the next two years, Standard & Poor’s said Friday. More than a dozen Chinese companies with close ties to the government, including oil and gas companies like China National Petroleum Corp. and CNOOC Ltd., China’s largest producer of offshore crude oil and natural gas, were reviewed by the ratings agency. Standard & Poor’s said it revised the outlook for those companies from stable to negative. “These revisions reflect our view that China’s potentially weakening credit strength in the next 24 months might negatively affect the extent of its timely and sufficient extraordinary support to the Chinese government-related entities if needed,” the ratings […]