In 2016, the U.S. oil and gas industry defaulted on $39 billion in high-yield energy debt, more than twice as much as the $15 billion in defaulted debt in 2015, according to Fitch. While 2016 was a horrific year for the high-yield sector, Fitch says that 2017 will be much better. Source: OilPrice
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Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Source Reuters
Five companies default in Jan-Feb brings total bankrupt E&Ps to 119. Five oil and gas companies have gone bankrupt in the first two months of this year, according to the most recent edition of Haynes and Boone’s Oil Patch Bankruptcy Monitor. Currently 119 E&P companies have entered bankruptcy since the beginning of 2015. Source Oil & Gas 360
“In a society where ageing is growing, savings — including capital invested abroad –- will fall as pensioners use that to finance their consumption in Germany,” it said. “This will probably reduce the current account surplus and could even turn it into a deficit.” Source: Reuters