Low commodity prices in 2015 prompted energy companies to drastically revise their operational, capital expenditure (capex), finance and risk management plans. Industry-wide, capital expenditures fell an estimated 45% in 2015 versus 2014.
For 2016, the outlook suggests continuing frugality as the prevailing industry view is for oil and gas prices to remain “lower for longer,” reports Citi.
In two recently-issued articles, the group discuss how chief financial officers (CFOs) and treasurers are adjusting to these changes and working with their banks to beef up their global strategy. The authors are Jim Reilly, vice chairman and global head of energy corporate banking at Citi and Peter Langshaw, global sector sales head for energy, power, chemicals, metals and mining.
Both papers, under the title “Adapting to ‘Lower for Longer: How Companies are Adopting and Embedding Resilience’, can be accessed here.
The competition commissioner said it approved the bail-out of Banca Popolare di Vicenza and Veneto Banca to “avoid an economic disturbance”.
Europe’s fourth AML directive should make the prevention of money laundering easier, a poll of UK finance professionals suggests.
As the first anniversary approaches of the UK’s decision to leave the European Union, Thomson Reuters has assessed the impact over the past year on investment banking.
The decision by MSCI to include China shares in its Emerging Markets Index is called “a pivotal moment for global investment”.