Boom to bust – the familiar cycle for the commodity business of oil and gas – is once again rearing its head. Oil prices have declined over 50% within the last several months. Natural gas prices are following suit, with the excess supply in the market. How low will prices go? How long will the price decline last? These are the burning questions of the day. But industry experts know that to provide products for the future, the planning and investment must continue today. Throughout the value chain, oil and gas projects take years to develop, and price fluctuations are all a part of the process. At PwC, our global oil and gas professionals understand the challenges that our clients face, along with the uncertainties and risks they have to manage, and we provide the help that companies need to succeed throughout the business cycle.
The energy industry requires long lead times for new projects, and even though the current global economy is struggling, the world’s population continues to grow. With this growth, energy demand will increase. Weighing the risks versus benefits of new projects, new products and how much capital to invest, oil and gas companies also have to consider regulatory, safety and environmental concerns. Balancing the need to supply the world with hydrocarbons, companies are also looking at investments in alternative energy sources, including unconventional sources, biofuels, renewable energy sources, and ways to improve energy efficiency.
So at PwC, we are not only watching these developments in the industry, but we are analyzing these changes from the perspective of how they will impact our clients, and how we can best help companies prepare and manage the changes. We examine the issues, and build teams of subject matter specialists who develop appropriate solutions through our assurance, tax and advisory services. Our experienced professionals are on the ground in 158 countries around the world contributing local insight and understanding.
Decision making in the energy industry
How is decision making changing in the energy industry as a result of data and analytics? More energy executives relied on data and analytics than experience or intuition when making their last big decision. Increasingly they’re using enhanced data analytics such as simulation, optimisation, or predictive analytics as part of their decision support.
Fit for $50 oil: Is your company in shape?
As global oil and gas prices have plummeted, and the down-cycle is once again challenging the industry to make abrupt decisions about how to manage lower commodity prices, PwC’s oil and gas professionals provide some guidance in a one-hour web cast.
Colombia Oil & Gas Industry 2014 - An Overview
Legal, tax, and political stability in Colombia, and its strong economic performance have positioned the country as one of the fastest growing countries of the region and as one of the most attractive emerging markets for foreign investment at the present time.
On the brink of a boom
Africa Oil & Gas review
Our fourth edition looks at developments in the African oil and gas industry.
Know your way around Shale gas in Poland
Shale gas in Poland – speed up?
Global Prospective Shale Plays Map
Platts new Global Prospective Shale Plays, 2014 edition wall map presents the primary shale basins throughout the world. It lists the geological characteristics of the shale basins, shale resources by country by type (tight liquids plays, shale oil plays, and shale gas plays), and their prospectivity.
Gateway to growth: innovation in the oil and gas industry
Gateway to Growth: innovation in the oil and gas industry discusses how energy companies use technological advances and innovation solutions to improve performance, ensure safety, and gain a competitive edge in the industry.
The Bit - What energy company executives need to know about the proposed lease accounting standards
US and international accounting standards setters are getting closer to completing their overhaul of lease accounting. This PwC newsletter summarise the proposed guidance and explains how it is likely to change key financial reporting metrics.
Exploring reporting: What do investment professionals need from oil & gas company reporting
In Exploring reporting we asked investment professionals in five capital markets for their views on the quality of reporting in the sector today and where they see scope to improve, their opinions on scope of assurance and their preferred channels of communications and the results identify some really clear opportunities for improvement.
New conventions for unconventional oil and gas series: Optimizing the play to improve returns
In the second installment in a series of three, New Conventions for Unconventional Oil and Gas, PwC charts the rapidly evolving management practices that address the speed and complexity inherent in developing tens of thousands of unconventional wells across the shale basins of the lower 48 states.
At a crossroads - Energy Visions 2014 Survey
Achieving parity with global energy prices:
A tale of two commodities Canada’s oil and gas industry remains a tale of two commodities, each with its own complex set of challenges and opportunities.
Shale oil: the next energy revolution
Shale oil could revolutionise the world’s energy markets over the next 20 years, resulting in lower oil prices, higher global GDP, changing geopolitics and shifting business models for oil and gas companies.
Global energy statement of capabilities - Helping energy companies succeed
The energy industry contends with a great amount of uncertainty and risk, and yet companies have to focus on the future to ensure financial and operational success. At PwC, we study industry trends and issues closely, so that we can better understand the challenges that our clients face, and how we can best help them to achieve success.