Oil and gas

At PwC’s Strategy&, we help clients improve productivity, keep costs down to deliver sustainable growth and navigate the energy transition. We also advise governments on shaping their national energy industry.

A global footprint with deep industry expertise

Much of the oil and gas industry has gone through an especially tough few years with weaker demand and low prices. Efficiency improvements are beginning to bear fruit for the industry, as we witness the green shoots of a business recovery in the sector.

Strategy& brings deep industry expertise across the entire value chain, as well as functional capabilities to advise international and national oil and gas companies.

These strengths combined with our global footprint allow us to help IOCs, NOCs and Oil Services to grow and navigate the challenges of a rapidly evolving market. We partner with our clients to develop their strategies, improve their operating and financial performance, as well as optimize their portfolio.

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A global footprint with deep industry expertise

Featured articles

Oil and gas trends 2019
Oil and gas companies are confronting a turning point, one that requires strong decisions about their strategies for surviving and thriving...

How we can help you

Capabilities-driven strategy

At Strategy& we help oil and gas clients better align their strategy and capabilities to ensure they have a “right to win” in their chosen markets. We do this by focusing on a number of key themes:

  • Developing growth strategies
  • Optimizing portfolios and M&A
  • Building lasting operating models
  • Defining functional strategies
  • Identifying and building capabilities

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Fit for Growth

We work with oil and gas clients to achieve profitable and sustainable growth. We assess the core capabilities needed to “double down” on in terms of investment. We also support clients in funding their growth by becoming more efficient and by divesting (or reducing investment in) non-core capabilities. Our portfolio of services include:

  • Designing operating models
  • Optimizing overheads
  • Improving procurement capabilities
  • Enhancing supply chains
  • Enabling digital transformation

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As oil and gas companies look to digital solutions to reduce costs and improve productivity, in the field and in the back office, we help them identify and deploy the technologies that will deliver results. We do this by focusing on:

  • Developing a digital strategy
  • Designing digital capabilities and operating models
  • Creating new digital business models

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M&A transformation

As oil and gas companies evolve their strategy and adapt their assets to a rapidly changing world, we help them shape their portfolio to match their strategic goals and capabilities. We do this by focusing on:

  • Developing acquisition and divestiture strategies
  • Selecting and managing alliances
  • Formulating deals strategies
  • Accessing capital markets and private equity

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Oil & smart devices
As demand for hydrocarbon-based products tapers off, oil and gas companies are diversifying into renewable sources of power that would see...

Case studies

How we work with our clients

  • Talent
  • Global long-term
    refining strategy
  • Organization
  • Global long-term hydrocarbons’
    disposition strategy
  • Applying lean
    manufacturing techniques
Talent management

Talent management for a leading independent E&P company

A leading independent E&P company engaged Strategy& to refine its organizational design in order to promote talent attraction, retention, and development.

Strategy& conducted a rapid diagnostic of existing issues; developed an updated organizational design that included job families, job titles, and career paths; and supported the client’s implementation efforts.

The new organizational design addressed issues of internal and external inconsistency, enhanced recruiting effectiveness, and facilitated the implementation of a new succession planning process.

Global long-term refining strategy

Global long-term refining strategy for major oil and gas company

Strategy& was retained by an oil and gas super-major to jointly develop a long-term outlook for global crude refining in support of the client’s capital planning process.

Strategy& determined the relative importance of industry margin drivers; developed demand scenarios under a range of economic, regulatory, and price environments; characterized investor segments and the likelihood of new capacity; assessed the potential for capacity creep; determined regional balances and resulting trade flows; developed high-level margin outlooks; and used this industry outlook to assess opportunities and risks across the portfolio and recommend investment decisions.

Organization redesign

Organization redesign for a leading independent E&P company

Strategy& was retained by a leading independent E&P company to address its organization structure, its planning and operating processes, and the role of its existing technical support functions in order to sustain its rapid growth trajectory.

The recommendations enhanced the interactions between operating divisions and supporting technical services and provided executive management with greater visibility into, and means to more efficiently manage, the operations of the enterprise.

Global long-term hydrocarbons’ disposition strategy

Global long-term hydrocarbons’ disposition strategy for Middle East national oil company

Strategy& was retained by large Middle East national oil company to prepare its crude oil and product disposition strategy through 2030.

Strategy& evaluated supply and demand trends and, using refinery economics, defined optimal disposition markets. Strategy& also evaluated competitive dynamics in order to define optimal go-to-market strategy. In addition, Strategy& identified the key enablers required to succeed in the future market environment, and defined a clear road map to reach the desired state.

Applying lean manufacturing techniques

Applying lean manufacturing techniques in unconventional assets for a leading E&P company

Strategy& was retained by an E&P operating company to review current field development programs and processes and determine methods to improve cash flow during the field development phase.

The firm reviewed existing field development processes to determine constraints. We applied lean manufacturing techniques to speed development cycle times by approximately 30 percent, reducing expenses by $130 million annually.