Transcripción del resumen del autor. The oil and gas industry is renowned for its cyclicality, but the volatility of late has been unprecedented. Over the last 18 months since their peak in July 2008, there have been serious movements in oil prices, as well as a hazardous credit crunch and the consequent tightening of capital markets. However, the climate seems to be changing. We are seeing renewed optimism in the sector, fuelled by improving demand, slowly recovering world economies, improved investment in infrastructure and – crucially for small and medium-sized independents – increased access to debt funding. AndrewMoorfield* (pictured), Head of UK Oil & Gas, Lloyds Banking Group, explains.

756