Mifid II ensures all change for energy firms
There's plenty for companies to mull over in the latest European directive aimed at cleaning up the financial sector
The oil and gas industry is braced for fallout from the biggest root-and-branch reform of European financial markets in a generation—the Markets and Financial Instruments Directive, known as Mifid II, which comes into force in January. Hydrocarbons firms aren't the focus for Mifid II, but they'll feel the effects from legislation that embraces every part of Europe's financial industry. Seven years in the making, and running to 70,000 pages, this legislation is Europe's belated attempt to clean up the financial sector and prevent a repeat of the 2008 markets crash. This legislation aims to increase transparency and impose firebreaks to prevent bank collapses. The impetus to create it comes in

Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure