Oil and gas

Oil and gas prices have fluctuated wildly over the last year. Despite the price cycles, energy companies know that they have to focus on the medium to long term situation when it comes to achieving growth and making sound decisions. Investments in R&D, people and technology are crucial to maintaining a long term competitive edge. While making these important investments, companies also have to focus on controlling costs, improving controls and managing risks.

 

Oil and gas challenges

Recent postings


IFRS bulletin: Straight away: The extractive activities project at the IASB
The extractive activities project at the IASB opens the door to potential radical changes to financial reporting for mining and oil & gas.
Working together: Energy sector income tax benchmarking study
Income tax disclosures, presented in annual reports, are an important insight into a company's tax affairs, with the effective income tax rate being the headline rate commonly quoted by chief financial officers when discussing their company's income tax affairs. In this study, PwC presents insights into where energy companies stand compared to their peer group for the exploration & production, integrated oil & gas and energy services segments of the industry. The study encompasses 37 companies located in 17 different countries around the world.
Oil & gas deals: 2008 annual review
O&G deals 2008 reviews M&A activity in the oil and gas industry. We examine both the rationale behind the overall trends and look at the key individual deals.
2009 Global energy capability statement
At PricewaterhouseCoopers, our goal is to put ourselves in our energy clients’ shoes. To accomplish this goal, we maintain a robust training program, designed to enrich not only our technical skills, but also to keep us abreast of the industry issues that our clients face. We examine the issues, and build teams of subject matter specialists who develop appropriate solutions through our assurance, tax and advisory services. We not only examine the industry issues to understand your concerns, but we are also committed to constantly evaluating and enhancing our well-developed services to better meet your needs.
Financial reporting in the oil and gas industry
National standards in other countries are being converged with IFRS. The global trend towards IFRS has gained significant further momentum with the US Securities and Exchange Commission's (SEC) commitment to the standards, beginning with its decision to drop the requirement for foreignlisted companies in the US to reconcile to US GAAP.
Need to know: The future of IFRS for the extractive industries
The IASB is undertaking a project that could change the face of accounting for extractive activities.