Downturn changes oil & gas risk landscape
The oil & gas sector has been severely impacted by the global economic downturn, with new risks for the industry emerging that threaten the near-term survival and prospects of companies, according to a report from accounting firm Ernst & Young.
Ernst & Young's 2009 Business Risk Report, oil and gas, based on interviews with some of the sectors' leading CEOs, analysts, commentators and academics, reveals a near reversal in the top six of the ten major business risks identified for the sector compared to last year.
Access to reserves was identified as the number one business risk for the oil & gas sector, up from fourth place in 2008 while uncertainty around energy policy moved up from sixth to second position, followed by a new entrant
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