Tag: operating expenditure (OPEX)

In April 2012, the Accounting Standards Board approved the adoption of Generally Recognised Accounting Practice (GRAP) Standards to replace the Modified Cash Basis of Accounting (MCB) in the public sector. For over a decade, despite South African Revenue Service (SARS) noting its intention ‘to expedite the migration of SARS’ revenue accounting practices to [GRAP] to ensure legislative compliance’, there still has been no implementation. Or has there been?

Decarbonisation of the energy system, from a hydrocarbon-based to a sustainable, low-carbon energy system poses an existential threat to the oil and gas industry. On the other hand, it presents oil and gas companies with new portfolio opportunities to build adjacent businesses, shape and participate in new markets, and drive new sources of value from existing assets and capabilities.