Strategic opportunities for oil and gas transactions in 2009 London, 26 January 2009 The volatility in oil prices and overall financial markets created a year of two halves for the global oil and gas industry. Buoyed by a high oil price environment, in the first half of 2008 oil and gas deal activity was strong. However, the slowdown in the global economy resulted in fewer mergers and acquisitions (M&A) in the second half of 2008 resulting in 1,094 deals for 2008, down 29% from the record level set in 2007. The total value of oil and gas transactions for 2008 was US$179bn.
EY welcomes prospect of a global accounting language but warns that 2009 will be a critical year for IFRS London, 12 January 2009 EY welcomes the fact that, despite a difficult year for companies and global economies, the major capital markets of the world are moving ever closer to adopting International Financial Reporting Standards (IFRS) as the globally recognized accounting language. But 2009 will be a critical year in this process, and the challenges now faced must not be allowed to derail the significant progress made to date.