Australia’s oil and gas resources are becoming ever more unconventional, and the workforce management approaches to exploiting these resources must also become more unconventional. This paper will explore the changes needed in workforce structures through examples in oil and gas (shale developments, coal bed methane, etc.) and manufacturing, drawing lessons and insights for Australia’s growing unconventional oil and gas sectors.
Since the early 2000s there has been a progressive maturing in the way energy trading is understood from market, credit, liquidity and operation risk perspectives. But why are some commodities more mature from an energy trading risk perspective? And what would a lift in energy trading risk maturity look like?
The opportunity for productivity improvement, across Australia, but certainly in oil and gas, is huge – if only we can get out of our own way.
Australia’s emerging LNG industry could be missing out on millions of dollars in value as a result of procurement practices and the accounting treatment of large-scale engineering works. The basic, single accounting entry for a big, complex and expensive asset actually hides a lot of value calculations and drives a lot of management decisions.
When it comes to where the price of oil is going, there are a lot of questions (and potential answers) to consider. Will it bounce back quickly – or sometime in the distant future? How high will it go? What will happen to LNG prices? Will they bounce back? And what factors weigh most heavily on determining the shape of any price recovery?
That Australia’s national labour productivity has gone backwards over the past decade is now well-established fact – according to the Australian Bureau of Statistics, our productivity performance grew strongly up until 2003-04, but has been beset with negative growth in most years since.
With industry focus rapidly moving from major capital project to operator phase, competition for experienced operational leaders and specialists is hotting up. And becoming the operator of choice will be increasingly critical to acquiring and keeping the talent needed to help organisations deliver.
When the New South Wales and Northern Territory Governments recently raised the prospect of a new gas pipeline connecting their respective gas grids, they brought back into focus a piece of energy infrastructure that has been on and off the agenda since the 1970s.
Rules, rules, and more rules. They are vitally necessary in terms of cementing the key foundations of our society, protecting the rule of law and a wealth of standards in everything from health to safety and the environment.
In July last year, Deloitte Access Economics delivered a report to the Australian Industry Group (AiG) and others titled Gas market transformations – Economic consequences for the manufacturing sector which highlighted that Australia’s gas markets – on both east and west coasts – were undergoing unprecedented change.