Dating back to the beginning of 2020, the natural resources
sector has been extremely active at both ends of the economic
cycle. With oil prices dropping steadily since January 2020,
Appleby has been involved on a number of large scale restructurings
and refinancings, representing lenders, bondholders and oil and gas
companies (in particular, services and offshore drilling companies,
but also upstream exploration companies). Not only has the oil
industry been battered by the Covid-19 virus, it also faces strong
headwinds as the industry tries to transition towards low-carbon
energy.
Conversely, and as a response to the high degree of uncertainty
gripping international markets, gold has seen a steady resurgence
going back to January 2020, gaining further momentum in
February/March with the onset of Covid-19. With the price of
gold rising strongly over the course of the past year, it is no
surprise to see plenty of focus on the yellow metal with a large
proportion
