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Deloitte energy predictions report suggests an improved state for the energy and resources sector

Energy Predictions 2010 is the first of an annual series by Deloitte Touche Tohmatsu outlining perspectives on the state of the Energy & Resources industry across its various sectors.

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&P projects.
Quotes
  1. "No matter what shape the recovery takes, it is becoming more apparent that 'easy does it' should be the watchword for the industry."
  2. “2010 is likely to challenge all within the energy and resources industry, but it should be remembered how important a role energy plays and how it its use affects each and every person on the planet."

Both quotes attributed to: Peter Bommel, DTT Global Industry Leader, Energy & Resources

For additional quotes and to read the full report. Please visit: www.deloitte.com/energypredictions2010

About Energy & Resources

The DTT Energy & Resources Group, made up of senior member firm partners and industry-focused professionals from the Deloitte network of member firms, provides comprehensive, integrated solutions to the energy sector. These solutions address the range of challenges facing energy companies as they adapt to changing regulatory environments, to political, economic and market pressure, and to technological development. Deloitte member firms’ in-depth expertise in this dynamic sector serves as an indispensable resource for a significant proportion of the world’s largest energy companies. Deloitte member firms’ Energy and Resource practices are designed to conform to this rapidly changing sector’s unique needs; to that end, they offer a wide range of services designed to provide the energy industry with unparalleled service, innovation, and critical thinking.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 169,000 professionals are committed to becoming the standard of excellence.

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