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Oil & Gas

Crude oil and gas is vital to many industries and accounts for a large percentage of the world’s energy consumption. The integrated operations of their extraction, refining and downstream petrochemical processing, as a whole, represent the world’s largest industry.

As the world’s premier forensic accounting firm, MDD’s experience in measuring loss and damage in the oil and gas industry is extensive and encompasses a wide range of operations, facilities and situations.

oil loss, gas loss, oil and gas loss

We’ve measured losses due to equipment failures, fires, explosions, floods, power failures, cyber-attacks, supply-chain issues, logistics issues, fraud, employee theft and others.

When clients hire us to quantify oil and gas losses, we will:

  • Review operational, financial and management reporting records
  • Interview key management, sales and operations staff
  • Review criteria, assumptions and methodology used for forecasting and planning operations – this could be a complex linear regression program or a more simplistic production capacity method
  • Compare forecasted operations to actual during the period of interruption and following
  • Consider the impact of non-loss related factors such as quality, environment and market prices
  • Assess the impact of changes to planned maintenance cycles and segregate unrelated operating conditions and events that may impact operations during the loss and recovery period
  • Communicate the progress and results of the analysis in a clear and timely manner
  • Expert and consulting witness testimony when needed

For an accurate, credible assessment of an oil and gas related loss, hire MDD.

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