Companies in the sector include those involved in exploration, extraction, refining, transporting and marketing of petroleum products. The sector may be split into upstream (exploration, development and production of crude oil or natural gas) and downstream (oil transportation, refining and selling to retailers and consumers).
Integrated oil and gas companies engage in the exploration, production, refinement and distribution of oil and gas. Exploration and production (E&P) companies concentrate on finding hydrocarbon reservoirs, drilling oil and gas wells with a view to producing and selling product for refining. Drilling and Service companies are contract drilling companies who drill wells for the E&P companies. The Oil & Gas sector has experienced an especially tough few years with weak demand and low prices with crude prices always highly influential in its fortunes.
Peter has 30 years’ experience in the industry, and most recently was an E&P analyst at HSBC. Prior to this, Peter was an E&P analyst at Panmure Gordon, where he was rated top three in Extel. Peter has also held oil analyst positions at Kaupthing and Seymour Pierce, and has been Starmine rated on several occasions.
Tony has 15 years research experience and has held positions at Peel Hunt, where he was Head of Oil & Gas, and Investec. Tony is now in a part time Finance Director role in the industry.