PwC says UK oil and gas firms have £20billion investment reservoir to exploit
UK Oil & Gas firms can access a £20bn cash reservoir by tightening up working capital according to financial services giant PwC.
PwC
Cyber security attacks costing more than £1.7million, with oil and gas firms at risk
Almost 10% of companies in the UK are unaware they have been victim to cyber security attacks with incidents now costing an average of £1.7million, according to a new report. The annual survey, which involved more than 10,000 executive from more than 127 countries, showed an escalation in the frequency, severity and impact of cyber-attacks. Insiders - either current or former employers - top the list as a major source of incidents. But it was also found firms are becoming more adept at prevention and detection methods with innovation also on the rise.
There’s still an appetite for investment in the North Sea – PwC
Investors are still keen to invest in the North oil and gas industry, if the right deal is available, according to a senior industry expert.
Bill Gates launches suit against Petrobras and PWC
The multi-billionaire founder of Microsoft has launched legal action against oil giant Petrobras as well as the Brazilian arm of big four accountancy, PWC.
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.
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.
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.
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.
PwC makes senior appointment
An industry 'role model' has been appointed to head a team at PwC. PwC has appointed natural resources industry advisor Alison baker to lead its UK oil and gas sector team.