Helping energy executives in the oil and gas, power and utilities and mining industries manage their businesses through assurance, tax and advisory services.
Although the oil and gas industry has always been volatile, there was nonetheless a comfortable predictability to the boom and bust pendulum. Those days, however, appear to be over, at least for now. A combination of erratic and sometimes inscrutable commodity price fluctuations, ambiguity about the future of fossil fuels and increasingly contentious trade negotiations around the world are upending traditional supply and demand fundamentals, bringing a host of new challenges with no clear answers. It could be said that this year, oil and gas executives are essentially trying to set a growth course for their companies on shifting sands.
Power and utility leaders know there’s a real possibility that if they don’t further define their role in the energy ecosystem of the future, they’ll continue to lose ground to new entrants who are eager to step in and take their place. But it doesn’t have to be that way. We explore how companies can embrace disruption and place the right bets—becoming even more relevant to society in an expanded role of a Utility Platform Player, or connector and integrator. We’ll also share peer perspectives from a recent survey of industry leaders.
Oil prices will always fluctuate and volatility can be expected. Creating profitability through cost cutting measures and creating efficiencies is only part of the story. What else can companies do to be fit for growth in all market environments?
Michael (Casey) A. Herman
Energy, Utilities, and Mining Co-leader US Power & Utilities Leader, PwC US