Ernst & Young Global Oil & Gas Center - Ernst & Young - Global

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 (pdf, 333.4kb) . Use this publication to help address how these issues could play out within your organization and to formulate feedback to share with the boards.

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 (pdf, 438kb) and gain insight into future project plans.

Our country attractiveness indices provide scores for national renewable energy markets (pdf, 1.3m), renewable energy infrastructures and their suitability for individual technologies. Not surprisingly, this issue reported a decline in scores across all indices due to the global recession. Still, the emergence of economic stimulus and importance of a "green economy" has provided an additional driver to the renewable sector globally. Find out what’s on the horizon.

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 (pdf, 3.4mb) and learn which measures can be taken to address them now.

2008 was a year of two contrasting halves for global M&A activity in the oil and gas sector (pdf, 428kb). As the economic outlook worsened in the first half of the year, oil stocks were temporarily insulated from the full impact of the sell-off in equities by rising oil prices. Will today’s unprecedented challenges diminish oil and gas activity or create opportunities? See our highlights for 2009.

In our quarterly reports, “NOC Monitor” offers insight into the changing economic and political landscape around the world, examining activity in partnerships, M & A, consolidations, and government policy developments between IOCs and NOCs. Tap into our insightful publications.

Given the oil money flowing into the Middle East, large public infrastructure projects have been executed and new ones are being planned for the next decade, with costs running into billions of US dollars. Undoubtedly, infrastructure development will be crucial in meeting the region’s social challenges in addition to improving business competitiveness. Discover more about this growing market (pdf, 362kb), one that holds great promise for investors.

The Canadian oil sands, located in northern Alberta, are an important piece of North America’s future oil supply puzzle. Tremendous opportunities and challenges lie in highly complex and capital-intense projects with substantial environmental and social/political implications. Learn about the human capital challenges associated with the oil sands boom, focusing on recruitment, retention and personnel support services in our report.