Global Oil and Gas
- Oil prices set for only modest gains.
- Integrated postpone investment except ESG projects.
- Evolving energy regulation will add costs.
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Steve Wood is the Managing Director for the Americas Oil & Gas Team at Moody’s Investors Service in New York. In this capacity, Steve is responsible for over 280 companies throughout the Americas across all sectors of the oil and gas industry. He also coordinates Moody’s oil and gas industry coverage globally. Prior to accepting this role in 2008, Steve was a lead analyst responsible for a portfolio of US and Canadian oil and gas companies that included exploration and production (E&P), oilfield services, contract drilling and midstream natural gas.
Prior to joining Moody’s in 2004, Steve spent ten years in corporate banking with JPMorgan. During this time, he had responsibility for the debt financing of energy client relationships. Steve primarily covered independent E&P companies, midstream natural gas companies, integrated natural gas pipelines and energy merchants. Prior to business school, Steve was a reservoir engineer with Shell Oil. Steve holds a B.S. in Petroleum Engineering from Colorado School of Mines, and a MBA in finance and strategy from the University of Chicago.
Elena Nadtotchi is a Vice President – Senior Credit Officer in Moody’s Oil and Gas Team and lead analyst on a portfolio of US investment-grade and high-yield companies in the exploration and production, midstream and refining sectors.
Before moving to New York in 2017, Elena spent 12 years in Moody’s London office as part of the Energy, Metals and Mining and Chemicals teams. The rated companies she covered included those in the European integrated oil and gas, global mining and EMEA chemical sectors, as well as the European nuclear energy sector. Her responsibilities in that time included acting as Moody’s global coordinator for the integrated oil and gas sector and for the chemicals sector. Elena was a co-author of Moody's Integrated Oil and Gas rating methodology in 2019 and was a co-author of earlier Chemicals and Metals and Mining industry methodologies in previous years. Elena is currently Moody’s global coordinator for oil and gas price assumptions and for North American oil and gas sector research.
Before joining Moody’s, Elena worked as a project finance and corporate banker for various international banks. She started her career at the European Bank for Reconstruction and Development in London, where she originated financing for the roll out of telecom infrastructure in Central Europe, as well as infrastructure projects in EMEA. Elena holds a bachelor’s degree in Applied Mathematics, as well as MA in Economics and MSc degree in Investment Management.
John Thieroff is a Senior Analyst in Moody’s Oil and Gas Team, currently assigned to Moody’s ESG initiative. His ESG efforts are focused on carbon transition risk for sectors within the Corporate Finance Group that are considered to have significant exposure.
Prior to joining Moody’s, John worked for more than 20 years in energy credit in a variety of capacities including commercial lending at Chemical Bank and Christiania Bank, as a Director in Standard & Poor’s Oil and Gas group and as a Ratings Advisor at GE Capital. He also advised on transfer pricing for multi-national oil companies as an independent consultant.
John graduated with a Bachelor of Science in Finance from Central Michigan University and has a Master of Business Administration from the University of Toledo.
Martin Fujerik, a Frankfurt-based Vice President – Senior Analyst in Moody’s Corporate Finance Group, is the lead analyst primarily for EU-based integrated oil and gas companies and chemical distributors. During his career in Moody’s, Martin has covered a number of industries, including pulp, paper and packaging; construction; real estate; and diverse manufacturing and capital goods.
Prior to joining Moody’s in 2008, Martin worked in the advisory business of Ernst & Young. Martin holds a Masters degree in Finance and studied in Prague and Rotterdam.
Sajjad Alam is an Assistant Vice President within Moody’s Corporate Finance Group in New York covering a portfolio of mostly high-yield E&P, midstream, drilling and oilfield services companies. Sajjad joined Moody’s in 2006 and spent the first two years analyzing companies in the North American metals and mining industry and the paper and forest product industry as a support analyst. Prior to joining Moody’s, Sajjad was a Senior Manager at Scotiabank’s Global Risk Management Group in Toronto responsible for revamping the bank’s risk assessment framework. Previous to that, he held various analytical and management reporting positions at Deutsche Bank, The Bank of New York and Morgan Stanley. Sajjad has an MBA in Finance from York University in Toronto, and a B.S. in Accounting and Economics from The University of Tennessee at Knoxville. He is also a CFA charter holder and a Certified Public Accountant.
Pete Speer is a Senior Vice President in Moody’s Oil and Gas Team, covering a portfolio of investment grade and high yield energy companies. His portfolio includes integrated oil, exploration and production, drilling, oilfield services and midstream companies. He joined Moody’s in 2003 in the Accounting Specialists Group, working alongside energy rating analysts and helping them to assess the reliability and quality of issuers’ financial reporting and controls. Before joining Moody’s, Pete was a senior manager in the national office of PricewaterhouseCoopers LLP. For two years he consulted with audit engagement teams on a variety of complex financial accounting and reporting issues. Prior to his assignment in the national office, Pete was resident in the Houston office and served as the audit engagement senior manager for several multi-national energy industry clients. Pete is a Certified Public Accountant and is licensed in Texas and Michigan. Pete graduated from the University of Michigan with a Bachelor of Business Administration.
Andrew (Andy) Brooks joined the Oil and Gas Team at Moody’s in June 2011. He is a lead analyst covering oil and gas exploration and production companies, mid-stream energy companies, and oilfield service companies. Andy brings over 25 years of banking, sell-side research and finance experience to Moody’s, having begun his career in corporate banking at the predecessor company to Mellon Bank in Pittsburgh, PA and Boston, MA. He most recently spent 15 years at Credit Suisse and its predecessor company, First Boston Corporation, as a sell-side research analyst covering Project Finance and corporate Energy issuers. Andy has a Bachelor of Arts degree in Economics from The State University of New York at Albany, and a Masters in Business Administration from The Colgate Darden School of Business Administration at The University of Virginia.