The oil & gas sector is leading the way with solid results, joint ventures underway and positive earning reported.

According to report today by the Financial News, Citigroup was ranked top in the oil & gas M&A sector in 2005, but by 2008 had fallen out of the top 10.

However, it seems Citygroup have made some strategic key hires in this space, in an attempt to rebuild itself in this sector. The Citigroup EMEA energy spokesperson said they made a conscious decision that energy is very strategic to their franchise.

Citigroup currently rank second in the oil & gas space, with a string of mandates under their belts, including advising UK oil company Ensco on its $8.7bn acquisition of US rival Pride International.

It seems fears over the macro economic situation aren’t really affecting the AIM market and the demand for oil & gas seems likely to grow over the coming years.