A cautious welcome to a difficult New Year-2009

摘要

Only rarely has a New Year been greeted with as much uncertainty and apprehension as this one.However,before addressing the challenges faced by the energy industry,Petroleum Review would like to thank all its readers and contributors for their support and assistance over the last year and to wish them every good fortune for 2009.The first,and possibly the largest,challenge facing energy companies in 2009 is cash.Those that have it will be in a uniquely strong position with many options.Those that don't will be vulnerable,while those with large debts will be very nervous indeed.A very important driver for companies is going to be preserving and,if possible,enhancing their credit ratings.