Finance trends in the oil, gas, and chemicals industry: How AI is impacting the future of finance

Talking points

• Survey findings from 200+ oil, gas, and chemicals (OG&C) sector finance executives reveal the latest finance trends.
• Explore 2026 OG&C risks, artificial intelligence (AI) adoption rates, and the rise of agentic AI.
• Learn how leading practices support AI governance, risk management, and compliance efforts for OG&C finance teams.

If the oil, gas, and chemicals (OG&C) sector still conjures up images of aging oil derricks, tankers, and pipelines, it may be time for a mental refresh. Today’s OG&C companies—especially their finance organizations—are modernizing and adopting emerging technologies at a pace that may surprise you. Deloitte’s new Finance Trends 2026 report explores this evolution, with survey findings from 1,326 global finance executives, including 206 OG&C finance leaders.

So, what does the report suggest about OG&C technology—and the broader finance agenda—for 2026? It highlights sector risks, ongoing capacity constraints, and how artificial intelligence (including agentic AI) can enable finance teams to do more with less: reduce costs, strengthen investment decisions, and improve execution. Ahead, we preview a few of the report’s major OG&C themes and takeaways.

Risks and challenges in 2026

Surveyed finance leaders identified a range of external risks that OG&C companies should navigate in 2026—from financial reporting and disclosure requirements to cyberthreats, financial uncertainty, and geopolitical tensions. These challenges are shown in the chart below:

More than half of OG&C respondents (51%) said they plan to counter these industry risks by taking measured risks of their own, such as entering new markets or pursuing acquisitions, while the remaining 49% said they plan to address the risks by taking “risk-averse” actions such as reducing costs.

Lack of resources to maximize investment opportunities

Drilling down further, more than three-quarters of OG&C finance leaders (77%) reported resource constraints that could potentially limit plans to expand into new markets and undertake acquisitions. That includes 49% who said they need a moderate increase in additional resources to maximize investment opportunities and 28% who said they need “a lot more resources.” More than half (53%) also reported that finding top talent is difficult, while 47% said the same about retaining top talent.

AI for managing costs

Given these resource constraints, what are OG&C finance leaders doing to help reduce costs? Two words: artificial intelligence. AI came in as the top cost containment solution among OG&C survey respondents, with 40% using it to identify cost reduction opportunities and 39% applying it to automate processes and reduce costs. The third-most cited practice by 38% of respondents was using cloud-based solutions to optimize costs. Just 22% of respondents reported realizing clear, measurable value so far from their AI investments, with another 30% saying they’re seeing value, but the technology is not fully optimized.

Preparing for the future of finance with agentic AI

While AI value creation can take longer than expected, those delays aren’t deterring OG&C finance leaders from pursuing the next frontier: agentic AI. In fact, 67% said they’ve already begun integrating agentic AI or have fully integrated agentic AI into their finance operations, while 30% are actively exploring the possibilities.

One of the most promising areas for the technology is financial planning and analysis (FP&A), which plays an important role in navigating uncertainty and informing capital allocation decisions. Nearly half of OG&C finance executives (48%) called out FP&A as the highest-potential use case, while 38% highlighted working capital allocation as an important agentic AI focus area.

Leading practices for adopting AI in OG&C finance

For OG&C companies, adopting AI in finance and accounting can be complex, requiring governance designed specifically for emerging technologies. Below are selected governance, risk management, and compliance (GRC) leading practices—taken from Deloitte’s thorough GRC framework—that can assist with your approach:

• Maintain a modern, AI-enabled enterprise resource planning (ERP) platform.
• Regularly assess your governance and controls framework and its compatibility with emerging technology such as AI.
• As finance teams expand sensitive data across AI workflows, continuously monitor and test these AI tools for data security and compliance.
• Consider establishing an AI center of excellence to simplify access to specialized talent and upskill finance teams to collaborate more efficiently with AI.
• Enable collaborations between data scientists and accounting and finance teams to develop AI use cases that provide measurable value.

What role can Deloitte play?

Deloitte can advise finance and accounting teams in the OG&C sector as they navigate AI’s opportunities and challenges. We bring deep knowledge and experience in controls, data integrity, and independent governance for emerging technology—so you can build resilience for what’s next. Learn more in our report or on our Energy & Chemicals page—and request a readiness assessment or targeted advice from one of our leaders.

The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.

This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

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