Do natural resources coverage groups only cover oil & gas?
Wondering specifically about Barclays. Do NatRes groups cover things like metals & mining, or do they just do energy? Energy definitely seems like the main focus.
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In London this can mean they do both (and in some cases like UBS it's actually more mining than O&G) and in the U.S. / Canada that usually means Energy.
Can confirm UBS NatRes is way more focused on mining.
For Barc: NatRes Houston does E&P, Midstream, and OFS and NatRes NYC does Majors, E&P, Midstream, and OFS - there's some crossover between the groups.
There is a separate Metals & Mining, Power, Industrials, and Transportation team.
As the other person mentioned, most upstream and some midstream and OFS is covered out of HOU. NY covers most downstream and a lot of midstream, some upstream and OFS.
To answer the question about other sectors, NY has a chemicals team that is within the NatRes group but an entirely separate vertical from the O&G team. I know metals and mining is also housed within the NatRes group but I don’t know where it’s covered/who the bankers are. Tends to be a less active space than O&G/chemicals.
Yep ^ it's now all under "Global Energy Coverage" but still separate verticals.
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