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Deloitte energy predictions report suggests an improved state for the energy and resources sector |
Publish date
November 4, 2009 – Deloitte released today its “Energy Predictions 2010”, a perspective on the state of the industry across its various sectors. This is the first of an annual series by Deloitte.
Highlights from the report include:
- Oil & gas companies – both international oil companies (IOCs) and national oil companies (NOCs) – are expected to face a particularly difficult set of issues in the year ahead. Mergers and acquisitions (M&A) activity is likely to begin to rebound in 2010 and attain pre-recession levels by 2011.
- Power and utilities companies will likely face their own set of issues. The most important of these is the continued rise of the Smart Grid which has the potential to revolutionize the power sector by reducing energy consumption by up to 30 percent and decreasing the need to construct new power plants.
- Renewable energy production will likely heat up in two places synonymous with fossil fuels: the Middle East and North Africa. The geographic and demographic conditions are just right for a new type of renewable energy leadership.
- The shift from decentralized to centralized decision making is likely to increase over the long-term, giving companies an opportunity to exert more control over increasingly complex and costly E&R projects.
Mutasem Dajani, oil and gas partner at Deloitte in the Middle East, commented on the report: “While uncertainty about the direction of energy markets will continuously preoccupy any analysis of the industry in the Middle East, it is insight into global trends and challenges that brings an understanding of the changing landscape into better focus.”
Paul Navratil, oil and gas consulting partner at Deloitte in the Middle East added: “In these times of extreme change and volatility in the energy sector, the need for effective planning is more prevalent than ever. As such, Deloitte has begun a new annual report to bring to light the key issues and trends we foresee across the energy industry. Our observations and comments are meant to stimulate the debate across management teams, and provide challenges to consider in your strategic planning process”.
To read the full report, please click here.
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