Business challenges to the oil and gas industry are increasing in both numbers and complexity. Competition, regulations, and financial scrutiny have contributed to a tougher and more demanding business environment.
In the immediate future, the industry will continue to deal with the volatility of oil and gas pricing, which is not just driven by supply and demand, but how the investment community views the future and the international political landscape.
Labor shortages will also continue to plague the sector, as the demographics have changed after thirty years of price swings and labor flexing. The next generation is not transitioning, there has been a loss of institutional knowledge, and younger engineers and workers are looking to other industries.
Despite a recovering economy, access to cash and credit to fund new projects will also meet tougher standards as both companies and investors balance the risk and return in the business. Part of this risk profile is driven by new legislation, which is continuously changing the regulatory landscape, on both global and local levels. A company’s reputation will be heavily impacted by the market's acceptance of the company’s regulatory compliance, and capital investment and the ability to utilize resources will be directly coupled with reputation.
Brooks International Experience
Our experience in the oil and gas spans across dozens of companies and has touched the value chain in exploration, extraction, refining and processing, transportation, and sales/marketing.
In context of industry pacing issues, we have engaged companies to address a variety of business needs, including the following:
Brooks’ client footprint includes leading oil and gas companies, support contractors, and suppliers.