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Oil and gas

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Oil and gas companies today face complex challenges that demand balancing risks and rewards across regulatory compliance, safety standards, and environmental responsibilities. 

As we accelerate the shift towards alternative energy sources and greater energy efficiency, transformation requires more than observation—it demands proactive analysis and strategic foresight. 

Navigating today’s evolving landscape means leveraging locally grounded insights that empower your business to anticipate impacts, adapt confidently, and seize emerging opportunities.

Key trends impacting oil and gas

Fossil fuel investments

Geopolitics. Energy security. The push for net zero. All are reshaping fossil fuel investments. Companies are becoming more cautious about how and where they invest—balancing traditional operations with rising investments in low-carbon technologies. The future belongs to those who can navigate this transition effectively and efficiently.

ESG as a driver

ESG is no longer about compliance alone—it’s a competitive advantage. Strong ESG performance can cut risk, boost resilience, enhance reputation and drive long-term value. Companies that integrate ESG into strategy will lead the sector’s next evolution.

Renewables and green molecules

The shift to renewables and ‘green molecules’, such as hydrogen and bio fuels, is accelerating. Battery and energy storage technology is continually evolving – but so is the need to decarbonise existing fossil fuel operations.

Risks and threats

In a landscape with limited capital and threatening supply chain challenges, there’s a unique opportunity for companies to enhance energy security. By reimagining their business models, optimising operations and preparing for a dynamic market, they can not only adapt but build resilience and thrive.

M&A and consolidation

With lower debt levels, raised potential uncertainty, oil and gas is seeing a surge in M&A activity. Consolidation will reshape the industry—creating new market alignments and blurring the lines between oil, gas, chemicals and adjacent sectors.

Improving ESG engagement

Sustainability reporting is a challenge. With evolving ESG requirements and a lack of global standards, companies need to navigate the ambiguity by engaging their workforce and staying ahead of new regulations and financial incentives.

Commodity trading

Traders are beginning to recognise the potential in long-term energy solutions, as the market increasingly favours companies that provide secure, affordable and sustainable energy. By focusing on sustainable practices and innovative strategies, businesses can position themselves as leaders.

Cyber threats increasing

Digital transformation brings both efficiency—and risk. Oil and gas infrastructure is a prime cyber target. Attacks threaten safety, financial loss and operational shutdowns. Strengthening cybersecurity isn’t optional—it’s essential for a competitive edge.

How we can help

We help leaders adapt, accelerate and stay competitive. Strategy, regulation, supply chain, emissions reporting, workforce transformation—we provide insights and expertise to unlock value, reduce risk and drive performance.

Assurance

Providing internal audit, external financial statement audit and risk assurance services, including energy focussed services such as risk and controls optimisation.

Consulting

We help you work smarter and grow faster by building more effective organisations, innovating your business model, and reducing costs. Using AI, advanced technologies, and strong cybersecurity, we optimise your operations, boost productivity, and manage risks. With our energy industry expertise, we guide you through regulatory challenges and digital transformation to succeed in a rapidly changing world.

Deals

PwC has broad transaction related and energy sector specific capabilities which can be drawn on across the deal lifecycle.

Workforce

Helping clients to realise and discover the potential of their people by providing a single integrated people consulting and solutions service for oil & gas organisations.

Taxation

Providing specialist tax advice on all types of energy resource taxation including income tax, state royalties/licence charges and Petroleum Resource Rent Tax (PRRT).

Legal

Providing specialist legal advice and transaction support across the power and utilities sectors, including corporate and M&A, projects and project finance.

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Kerryl Bradshaw

Kerryl Bradshaw

Partner, Utilities & Resources Industry Leader, PwC Australia

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