Upstream energy companies are contending with rising commodity prices and intense competition for reserves, which often takes them to remote locations where operations can be difficult. Meanwhile, downstream energy companies are coping with managing uneven demand, while at the retail level they are seeing greater competition and margin pressures.
Oil companies are increasingly focusing on natural gas, working to balance supply and demand, ensure access to key gas-producing areas, and continuing to evaluate unconventional and liquefied natural gas (LNG) projects in the context of ever changing economic conditions.
Although each segment of the industry has its unique challenges, all share some common issues: Energy companies are seeing growing skill and talent shortages; they face cost pressures and the need to invest in new technologies—both of which are driven by ever-growing global competition; and they now face a new challenge in deciding what is core to their operations and what is not.
Accenture’s Energy industry group helps companies navigate the latest changing landscape. We collaborate with oil and gas companies to develop innovative, practical approaches for meeting their latest challenges. We work with them to take advantage of new opportunities to help them become high-performance businesses that can achieve sustained results over the long term, across business and economic cycles.
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