Energy Insights: Avoiding low probability, high impact events
Despite efforts to prevent environmental, safety and health events from impacting operations, bad things happen–even to good companies. But, it is possible to mitigate the risk inherent in even the most hazardous operations if a process safety governance mindset and operating plan is ingrained from the top down.
The premiere issue of the Energy Transaction Trends newsletter. M&A is a constantly evolving area and our aim is to keep you apprised of issues and our views on those as they occur. This semi-annual compilation of articles is designed to give a brief overview of M&A issues currently affecting the oil and gas industry. Our professionals are involved in numerous transactions on a daily basis and aim to share their insights and experiences to assist others who are facing similar issues.
Intertwined: the physical and the financial: Commodity risk in the oil & gas, power utility and mining sectors
Intertwined: the physical and the financial looks at the new commodity risk challenges facing companies in the oil and gas, power utility and mining industries. It also looks at the specific challenges that arise within each of the industry sectors. Key questions such the role of trading and hedging within company strategies are examined as well as how best to get key building blocks such as organisational structure, tax, valuation and accounting right.
Mine: As good as it gets? 2008 trends and financial results in the global mining industry
Our most recent report by PricewaterhouseCoopers, Mine: As good as it gets?, shows that while revenues of the top 40 mining companies grew by 32% in 2007, costs increased by 38%, thereby reducing margins. The fifth annual report provides a comprehensive analysis of the financial performance and position of the global mining industry and also discusses current trends in the global mining industry.
Glossary of terms used in the trading of oil and gas, utilities and mining commodities
This glossary will be of use to a broad audience – CEOs, CFOs, members of the management and supervisory boards, accountants, traders, regulators, tax consultants and many more – bringing together terms from the worlds of finance, electricity, mining, oil and gas as well as sectors such as law, regulatory affairs, economics and even meteorology.
A world of difference: 2008 utilities global survey
A world of difference marks the tenth anniversary of PwC annual utilities global survey of 118 senior executives in 37 countries and reveals a sector that is anticipating wide scale transformation in the decade ahead.
Mining deals 2007: Mergers and acquisitions activity in the mining industry
Mining Deals 2007 reviews deal activity in the mining industry. The report is a new companion publication to PricewaterhouseCoopers’ well established Power Deals and O&G Deals reports. Together the trio provides a comprehensive analysis of M&A activity across the extractive and power industries worldwide.
Mergers and acquisitions activity within the global oil and gas market. O&G Deals 2007 reviews M&A activity in the oil and gas industry. We examine both the rationale behind the overall trends and look at the key individual deals.
This edition of Financial reporting in the utilities industry describes the financial reporting implications of IFRS across a number of areas selected for their particular relevance to utilities companies. It provides insights into how companies are responding to the various challenges, and includes examples of accounting policies and other disclosures from published financial statements. It examines key developments in the evolution of IFRS in the industry.
M&A in the power sector: Power deals 2007 annual review
Mergers and acquisitions activity within the global electricity and gas market. The year 2007 saw a continued remarkable expansion in the total number and value of deals in the power utilities sector (electricity and gas) worldwide. A 25% increase put the total power deal value of US$372.5bn nearly nine times above the US$43bn recorded just four years earlier in 2003.
Mining newsletter: Global mine bulletin: August 2008
This edition of Global mine bulletin has a strong Australia focus with the country focus talking about the proposed Carbon Pollution Reduction Scheme which will be a major challenge to the mining sector. We also take a look at “Aussie Mine”, a summary of the mid tier and junior Australian mining industry which was released in June. This was the third of the trilogy; following Junior mine publications covering Toronto and the London AIM market. As with the other publications, 2007 was a wonderful year, however, there can be little doubt that 2008 will be far more testing.
Events provided a perfect backdrop for the release of our inaugural Mining deals publication. This document, which is the subject of the first story in this newsletter, examines the deals announced and completed in 2007 and compares them to 2006 and 2005. It will be no surprise that 2007 saw a record number of deals and a record value for deals. Indeed we also saw the largest ever transaction when Rio Tinto bought Alcan. The outlook for 2008 is even brighter, and there is every reason to believe that the records set in 2007 will be surpassed.
Mining newsletter: Global mine bulletin: February 2008
Global mine bulletin is a quarterly publication discussing trends and issues in the mining sector. In this edition, the impact that the sub-prime crisis will have on the mining industry is discussed, as well as performance improvement in the area of management reporting. PwC's new acquisition of GEM, an Australian-based consultancy focussing on strategy, operating effectiveness and profit maximisation in the mining industry is introduced in this newsletter.
Midstream master limited partnerships are often challenged to effectively manage high-stakes capital investment projects and organic growth programs.
The ability of midstream master limited partnerships (MLP) to achieve future growth targets is generally achieved through a combination of the completion
of organic growth projects and strategic acquisitions. To help ensure management and unitholders enjoy the full benefits of these significant investments, in PricewaterhouseCoopers' view, management should consider the following three steps: analyze and plan for each project’s regulatory climate and risks; establish a capital investment management framework; and develop focused management reporting.
Need to know: The future of IFRS for the extractive industries
The growing use of IFRS around the world means that all companies in the industry – whether in the oil & gas sector or the mining sector – should take notice of these developments.
The 6th edition Petroleum accounting principles, procedures & issues focuses on US financial accounting and reporting for petroleum exploration and production activities.
Burgeoning energy demand, higher oil prices, constrained supplies of conventional hydrocarbons, the exploration of more unconventional sources, and increasingly complex geopolitics are all shaping M&A activity in the oil and gas industry.
The PricewaterhouseCoopers 2007 canadian energy survey provides a summary of performance within various sectors of Canada’s energy industry including: crude oil, natural gas, oil and gas services, oil sands and electricity. The survey also summarises financial and operating information of the top 100 Canadian public oil and gas companies and 32 oil and gas income trusts, as presented in their respective annual reports for the fiscal years ended in 2006. This year’s survey features a special update on the new taxation regime faced by income trusts and on the introduction of IFRS in Canada.
LNG (Liquid Natural Gas): Towards a global reference price
LNG is one of the fastest-growing energy markets. But although there has been movement towards a global reference price, the costs involved along the value chain suggest the commoditisation achieved in the oil sector is unlikely.
IFRS for oil and gas and utilities industries: Real time. Delivering IFRS in the oil and gas and utilities industries
With many companies at the end of their first full IFRS reporting period, we publish Real Time, which examines the reality of reporting under the new standards for companies in the oil & gas and utilities sectors.
LNG (Liquid Natural Gas) glossary: LNG: A glossary of terms
With LNG playing an increasingly important part in the world's energy mix, familiarity with LNG terminology is needed by a growing number of professionals.
Geopolitics and energy: How energy companies can improve global business performance by better managing political risk
Energy companies understand the business consequences of political change perhaps better than organisations in any other sector. Matching energy demand and supply is, at its very core, a high-stakes geopolitical business endeavour. This is truer today than at any time in the past.
The utilities industry is central to economic activity. Global economic growth is dependent on water and power. Delivering sustainable expansion of water and energy provision is a critical challenge to the utilities industry.
LNG (Liquid Natural Gas): Value and growth in the liquefied natural gas market
The future development of LNG as one of the fastest growing areas of the energy market worldwide will also require the development of new technologies and will depend on the pace in which they are put into practice.
M&A in the utilities industry: Power deals: 2006 annual review
This report examines the rationale behind the overall trends and the key individual deals. We also highlight, in a series of deal dialogues throughout the report, some of the critical issues for companies engaging in deal activity within the sector drawing on our global experience as an adviser to players in major deals throughout the sector in all key power and gas markets.
Utilities survey: The big leap: Utilities global survey 2006
Once again we go to the heart of boardroom thinking with our comprehensive annual global survey of power utility company leaders around the world. Both this year and in the last two years, concerns about security of supply top the list of anxieties with massive technological and infrastructure investment required to meet burgeoning demand and address environmental concerns.
Emissions trading: Building trust in emissions reporting
This report highlights the key characteristics of the world's main emission trading schemes, presents a new vision for compliance in emissions trading and calls for global action to develop this.
Getting the data right: A survey of information technology solutions to meet EU emissions trading scheme requirements
For the first time, the most relevant information technology solutions to meet EU Emissions Trading Scheme requirements were listed and assessed for your convenience.
Sarbanes-Oxley: Sustainable from the start: Sarbanes-Oxley 404 implementation by oil & gas and utility foreign private issuers
The Sarbanes-Oxley Act of 2002, the US Congress's sweeping reaction to a series of corporate scandals, is having a profound impact on US companies. Section 404, which places new obligations on companies to assess and report on the effectiveness of internal controls, has been particularly challenging.
IFRS for mining companies: Financial reporting in the mining industry: International financial reporting standards
This edition describes the financial reporting implications of IFRS across a number of areas selected for their particular relevance to the mining industry.
Effective tax rate comparison of the global mining industry 2006: May 2007 analysis
We are pleased to once again present our comparison of effective income tax rates in the global mining industry. This edition includes 51 companies operating throughout the world which are mining precious metals, base metals, industrial minerals (including cement) and coal.
IFRS in the mining industry: Real time: International financial reporting standards in the mining sector
Real time highlights some of the key areas of difficulty that impact specifically on the mining sector under IFRS. It provides insight into how companies have dealt with these issues, through examples of the accounting policies included in their published IFRS financial statements.
A PricewaterhouseCoopers report which aggregates the results of the largest 50 mining companies listed on the Australian Stock Exchange with market capitalisation below $5 billion at 31 December 2006.
