The Charles Russell Energy & Natural Resources update
Those involved in the Energy & Natural Resources (ENR) sector will need little reminding that 2013 has been a tough year for the industry. On the London markets, valuations remain hard-hit and whilst there have been secondary fundraisings and some M&A, IPOs have largely been off the radar, for junior miners in particular.
But let's look for a few upsides. The domestic oil & gas industry has seen plenty of activity during the year. Fracking of course has dominated the headlines in this regard, and we watch with interest how the government and industry will respond to the challenges posed by this new technology. We report in the second of our articles on proposals under consultation to introduce tax reliefs for investors in the shale gas sector. UK professionals in the mining sector have also enjoyed the recognition of government, with the launch of the UKTI's Mining Brochure in June, designed to showcase the contribution of home-grown professionals in all phases of the mining supply chain. The brochure was launched at the Mining on Top - Africa conference hosted by the UKTI earlier this summer.
With winter approaching, our thoughts turn as well to the conference season. Mark Howard and I will be attending Africa Oil week in Cape Town the week beginning 25th November, and we look forward to catching up with many of you there. Looking further ahead, the group will be also be at Indaba in February 2014, including our Head of ENR, Clive Hopewell, who we welcome back to the London office after his time running the firm's Middle East practice. I hope you find this edition of Energize an enjoyable read.