KPMG acknowledges that energy and natural resources (ENR) companies are challenged by an ever-growing array of threats and opportunities that grow more complex every day. To help these ENR organizations face these challenges it recommends the webcast is a must for C-suite, senior executives and senior managers in strategy, operations, compliance, risk management, internal audit, corporate governance, assurance, legal, finance, and HR. Individuals keen on understanding the importance of risk and the impact to their business, as well as Board members.
Challenges include: entering more and more remote regions in the world to search for natural resources, often in fragile countries where the state is weak and the environment is under threat; labor relations may be fraught with tension in some parts of the world; ever-changing regulatory and compliance pressures; financial and production risks; and public opinion is often hostile to ENR companies. However, technology is creating immense opportunities to develop oil and gas fields, in previously unconquerable areas.
The worldwide survey of senior executives in this industry found that the management of these risks was not advancing as fast as the threats faced and ENR companies were falling short in a number of important areas.