Industry sector - Oil & Gas - Ernst & Young - Ernst & Young - United Kingdom

How can you manage your company through the recession and position yourself for growth? After interviewing thousands of oil and gas executives, we identified some overarching themes. From demonstrating operational flexibility to managing risks, we reveal the lessons that could mean the difference between surviving and thriving in the new economic environment.

The unprecedented circumstances confronting the oilfield service industry are prompting OFS companies to re-evaluate their long-term business strategies, as well as to explore, develop and implement new capabilities and approaches to the business.  This paper explores the issues that OFS companies are facing in the current climate. Download Oilfield service – sector update summer 2009  6.7Mb, September 2009

Oil and gas eye is the first tracking index within AIM that monitors the health of the Oil & Gas sub component of the AIM market. It provides key analysis and commentary on the top twenty AIM listed oil and gas shares by market weight on an annual and quarterly basis. The latest publication, as well as backdated issues, are available to download on our Oil and gas eye page..

In this report, we examine some accounting areas – production sharing contracts (PSCs), sales and entitlements methods of revenue recognition and provisional pricing – where upstream oil and gas companies might be affected by the IASB’s proposed new asset liability revenue recognition model. Use this publication to help address how these issues could play out within your organization and to formulate feedback to share with the boards. Download Exploring IFRS: June 2009  332K, June 2009

The Country Attractiveness Indices publications provides scores and rankings for renewable energy, and biofuels markets. The latest editions include a focus on the effect of the credit crunch, marine and offshore issues, and a look at carbon and sustainability reporting.

Under a new government scheme, organisations will have to buy allowances to cover their carbon emissions from 2010. Find out more.

The oil and gas industry has been unevenly impacted by the global economic downturn. However, the turmoil in stock markets and the lower oil price environment has created some new risks that threaten the near-term survival of a number of companies. See which risks are keeping oil and gas executives up at night ( 4Mb, 2009), and learn which measures can be taken to address them now.

Given the volatility in oil prices, cost containment has become a key priority for oil and gas companies. Until the market stabilizes new reserves are more likely to be added via exploration and appraisal than through acquisitions. Still, uncertain demand is making it difficult to plan forward investments. Learn more about the strategic direction of IOCs and NOCs ( 437K, April 2009) and gain insight into future project plans.