Skip to main navigation

Top 10 oil and gas business risks for 2010 - Managing today's business risks - EY - Global

Throughout the recent challenging period, telecommunications operators have worked hard to create and protect shareholder value. As the environment shifts towards growth — more quickly in some markets than others — these efforts are facing new challenges.

In today’s business environment, conditions remain challenging for many, and risk retains its position high on every organization’s agenda.

The oil and gas industry is still recovering from the greatest global economic shock of more than 75 years. While a mood of cautious optimism has emerged, economic uncertainty remains.

The industry should expect a renewed and expanded regulatory focus on safety and environmental risk preparedness and mitigation. This will only highlight the need for companies to be more vigilant in anticipating threats and managing today’s business risks.

It’s vital to both short-term profitability and long-term sustainability. To help you focus on this critical area, we offer insight on how to mitigate these risks through improved capital management, investments in technology, financial and operational processes and other strategies.

Compare your list of risks against ours, their level of importance and examine them according to the following industry subsectors:

  • Upstream — exploration and production (E&P) by integrated oil companies (IOCs), independents and national oil companies (NOCs)
  • Midstream — gathering, field processing, transportation and storage
  • Downstream — refining and marketing
  • Oilfield services (OFS) — including service companies and the supply chain

Use this information to support your risk management initiatives, including:

  • Identify both upside and downside risks
  • Encourage new insights and “out-of-the-box” thinking
  • Mitigate risks with a practical approach based on leading practices
  • Support strategic planning with a broad-based understanding of current industry issues
Back to top