‘Striking the Right Balance’
What does the future hold? BDO put that question to 100 CFOs at U.S. energy companies, and their answers prompted the accounting and business advisory firm to conclude that “the energy industry is at a pivotal point.”
“In 2020, the industry will contend with fierce competition, regulatory uncertainty, low oil prices and a lack of available new capital amid increased market volatility and a potential economic downturn,” BDO reports. “Energy companies will be forced to live within their means, either by cutting costs or discovering new operational efficiencies — or else risk insolvency.”
But there is good news, according to BDO: “Many energy executives are focused on striking the right balance between mitigating short-term pressures and uncertainty with planning for their greener futures.”
The results can be found in BDO’s Energy Goes Green report.