Royal Dutch Shell is planning to slash its spending by $15bn over the next three years, following a collapse in the oil price.
The Kijani Commodity fund has moved its domicile to target UK and European investors after a year in which it returned more than 20%.
Oil prices could plummet even lower to $30 a barrel, according to Goldman Sachs president Gary Cohn.
The after-effects of the oil shock
The price of Brent crude oil has moved back above $49 a barrel following the death of Saudi Arabia's ruler King Abdullah overnight.
BP group chief executive Bob Dudley is expecting oil to remain at current low levels for up to three years, leading to job losses and falling investment in the oil sector.
The price of a barrel of Brent crude oil has dropped to below $46 in early trading, a fresh six-year low, as the commodity's collapse showed no sign of slowing down.
The precipitous decline in the oil price has continued this morning, with a further slump in Brent crude seeing it trade below $50 for the first time in more than five years.
No need to panic over oil price in freefall