Oil & Gas reality check
Ten of the top issues facing companies in the coming year
In the oil and gas sector, only the end-game matters.
To address today’s challenges, oil and gas companies cannot afford to be sidetracked by short-term trends. They must take a long-term view as they tackle their cost-cutting and process-improvement initiatives. More than this, they must identify viable options either to grow or simply to sustain their businesses – from exploring for new reserves and attracting new talent to engaging in strategic partnerships, mergers, and acquisitions.
To help your company respond, Deloitte identified 10 of the top issues oil and gas executives will face in the near term. To help you chart your course over the coming months, we identified these issues and developed this report, in consultation with Deloitte Oil & Gas practitioners from around the world.
The top 10 issues identified include:
- The cash crunch – economic uncertainty may spark supply shortages
- Counting the costs – elevated expenses squeeze margins
- Regulatory complexity – global operations demand robust processes
- Missing in action – talent shortages loom
- Boosting reserves at bargain prices – the pace of mergers and acquisitions accelerates
- Nowhere to go – market access limited by resource nationalism
- The end of easy oil – reserves are getting harder to reach and extract
- Playing it safe – health and safety remain critical concerns
- An inconvenient truth – carbon reduction targets rise in prominence
- It’s not easy being green – an alternative energy strategy is mandatory
Strategies to help oil and gas companies respond to current challenges:
- Managing costs
- Improving performance
- Reducing risk
- Streamlining consolidation and improving compliance
Learn more by reading the attached report.