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 EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.