Oil and gas (Energy)

Oil and gas prices have fluctuated wildly over the last year. Despite the price cycles, energy companies know that they have to focus on the medium to long term situation when it comes to achieving growth and making sound decisions. Investments in Research and Development (R&D), people and technology are crucial to maintaining a long term competitive edge. While making these important investments, companies also have to focus on controlling costs, improving controls and managing risks.

Sustainable development discussions and geopolitical influences create pressure to increase the efficiency of energy processes. In relation to that, there has also been an effort to use alternative energy sources, which in Serbia has had a tradition in the form of small hydropower plants. Together with solar and wind power and the use of biomass, these energy sources represent options for growth.

Oil and gas challenges: How can PwC help?

Addressing sustainability issues

  • Our Sustainable Business Solutions team works with energy companies to align corporate governance and policies, operating systems and processes, performance reports and mechanisms to meet the needs and expectations of stakeholders.
  • Our tax and sustainable business specialists play a significant role in advising companies about structuring transactions from a tax perspective, building a cohesive global tax structure for a transformed enterprise, and understanding the environmental and reputation risks inherent in a strategic acquisition or merger before a decision is taken.
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    Complying with regulatory and reporting requirements

  • All 60,000 auditors in PwC firms around the world use a single global audit methodology that is fully compliant with International Auditing Standards and applicable national standards.
  • PwC helps clients identify governance, risk management and compliance information needs for both stakeholder reporting and operational monitoring in every area of the company.
  • We keep abreast of changes and trends involving all of the petroleum accounting matters - oil and gas reserves accounting, impairments, transactions, revenue recognition, intangible assets, suspended wells, and many others – so that we can provide the best guidance to our clients.
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    Improving performance and operational effectiveness

    • Helping clients attain increased performance by improving the efficiency and effectiveness of key business processes can result in competitive advantage.
    • Our accounting, organisational and technology skills can help enhance the core transaction processing and reporting competencies of the finance function, while strengthening its ability to support management decision-making and corporate strategy.
    • PwC possesses significant expertise in the areas of cost reduction, sourcing and shared services analysis, IT effectiveness, as well as crisis management to help companies achieve best in class performance.

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    Industry transactions & consolidation

    • PwC has a broad spectrum of capabilities to support companies’ efforts to manage the growth that will be necessary to meet the ever-increasing energy demand. Whether a company is considering a transaction, joint venture agreement, production sharing agreement, or organic expansion, our energy professionals have the experience and deep industry understanding to deliver value and contribute to your success.

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    Managing financial risk

    • We assist energy, utilities and mining clients in developing a disciplined risk management governance framework that will enable them to meet performance and risk objectives, resolve uncertainty and achieve their financial goals.

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    Managing geopolitical risk

    • Leveraging PwC's global network is a significant competitive advantage for our clients as they manage geopolitical risks and performing political risk assessment.

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    Recruiting and retaining a skilled workforce

    • International Assignment Services
    • Reward Planning
    • Human Resource Management
    • Change and Program Effectiveness

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    Securing the supply

    • Oil and gas companies face unique challenges and require specialized services to help them succeed. PwC excels at helping companies find the best solutions to these issues that will assist in securing the supply.

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    Contact us

    Bojidar Neytchev

    Bojidar Neytchev

    Partner, Advisory Services, PwC Serbia

    Milivoje Nesovic

    Milivoje Nesovic

    Director, Assurance Services, PwC Serbia

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