Management key to operating firms well amid risks
Oil and gas firms operate in high-tech, often hazardous, and increasingly complex regulated environments. A management system with integrity ensures compliance and provides greater control and transparency across the enterprise, writes Wood Group Intetech's Liane Smith
Regulatory change and the increasing cost of compliance remain top concerns for oil and gas companies. Not only must they ensure compliance across multiple jurisdictions and agencies, but also in a wide range of disciplines and commercial, technical and operational areas that include activities, assets and facilities; financial and tax reporting; and health, safety and environment (HSE). According to the latest figures from Lux Research, spending on HSE alone in the global oil and gas industry will jump 60% to hit $56 billion in 2030, up from $35bn in 2011, driven by increased regulatory scrutiny resulting from heavily publicised environmental disasters. Lux Research expects a continued redu
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
