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PwC

Opinion

Jeremy Cresswell: “PwC comparisons just don’t wash”

I wasn’t going to write about the North Sea in this month’s eye. Rather, I was contemplating having a go at offshore wind, in large part because of the manner in which the UK’s unquestionably leading offshore presence in terms of turbines planted out there in UK territorial waters has been achieved.

Oil & Gas

New report urges oil and gas firms to cut costs by taking a lead from other industries

Oil and gas firms need to cut costs by up to 40% a barrel to prolong the production life of the North Sea, a new report says. It urges energy firms to implement seven key tactics used by the aerospace, automotive, chemical, and rail sectors to lower costs and manage performance during hard times. The report, from professional services firm PwC and the Oil and Gas Industry Council, will be officially launched at the Oil and Gas Industry Conference (OGIC) 2015 in Aberdeen today.

Oil & Gas

Industry should adapt to new level of volatility

Professional services firm PwC said the oil and gas industry will need to adapt to the new level of volatility within the sector. The company’s oil and gas team said there was little expectation of a rapid rebound in oil prices, which have dropped by 46% in the past six months. From more than $100 a barrel, the price of Brent Crude has dropped to around $60. PwC have made five predictions for the years ahead in the wake of the industry’s current climate.

Oil & Gas

Report claims it’s ‘crunch time’ for the industry

Operators could make up to £15billion in savings with more effective and cohesive project decisions, according to a new report. Human resource specialists PwC said reducing over runs, streamlining the supply chain and improving collaboration could allow lower costs. The latest report in the company’s Northern Lights series said operators have the power to effect change in both attitudes and approaches. Falling oil prices and higher costs means that it is “crunch time” for the industry.