Forging alliances to meet future energy demandsThe oil and gas industry is contending with a dynamic global marketplace and an increasingly insistent group of stakeholders. Demand growth is slowing and regulatory pressures continue to impact operations, while available reserves are more difficult and expensive to produce. As the pressure to meet future energy demand mounts, global alliances are becoming more and more critical. Oil and gas companies need to know how to respond to emerging trends, anticipate risk effectively, improve performance and operate more efficiently.
Ernst & Young’s Far East Area (FEA) Oil & Gas Center has a clear understanding of how to do this within your industry. It serves as the hub for our network of highly-skilled resources – professionals with deep experience delivering assurance, tax, transaction and advisory services within oil and gas companies.
The Center brings people and ideas together to help companies like yours meet the issues of today – and tomorrow. However complex your challenges, we share information with you on emerging trends and regulations to help you move forward in your business.
You can benefit from our support in managing your business more effectively and understanding what’s shaping your industry. | Global E&P Benchmark study The Global E&P benchmark study (pdf, 8.08mb) is a compilation and analysis of certain oil and gas reserve disclosure information as reported by publicly traded companies in their annual reports to the US Securities and Exchange Commission. The report presents the worldwide exploration and production results for 70 companies for the five-year period from 2003 through 2007. The appendix to the report provides information on the US and Outside US results for the 70 companies. The oil and gas industry and financial market turmoil Over the years, the industry has been remarkably resilient in the face of adversity. The recent market turmoil, however, will force industry players to reassess risk exposure, shelve if not scrap planned projects and, in some cases, sell valuable assets. While the near-term presents uncertainty, energy companies should adopt a “glass is half full” (pdf, 6.10mb) attitude and consider the long-term picture of economic opportunities. 2008 in review The continued turmoil in the global financial markets has taken its toll on businesses and a fast-contracting world economy. The oil and gas sector has not been spared despite having enjoyed significantly strong cash flow over the past four years. |
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