C-suite Chat with KPMG’s Regina Mayor: Carbon-based Livelihoods

From the fossil fuel kingdoms of the Middle East to the Permian Basin, oil and gas companies are finding that the energy transition isn’t a fad but a permanent fixture of how they will do business.

“The biggest piece of advice that I give my clients now is you must have a carbon narrative; you must be able to articulate how your company survives, thrives and navigates the energy transition,” Regina Mayor, KPMG’s global head of energy, told Hart Energy. Pictured is a large-scale solar facility built by Occidental Petroleum in the heart of its Permian Basin operations near Odessa, Texas. (Source: Occidental Petroleum Corp.)

[Editor's note: A version of this story appears in the June 2022 issue of Oil and Gas Investor magazine.]

Sometimes dressed in a self-described pink power suit, Regina Mayor, KPMG’s global head of energy, spent March globetrotting. She visited oil companies in India, talked shop with OPEC leaders and saw a new intensity in decarbonization in the United Arab Emirates (UAE).

She listened to world energy leaders irked by their exclusion from the U.N.’s Climate Change Conference, COP 27.

As the world plunges into the chaos of war, inflation and potential recession, Mayor and KPMG, one of the world’s largest accounting firms, see opportunities in that disorder. She also sees the necessity for all fossil fuel companies—whether members of OPEC or independent E&Ps in Texas—to find their place in the low-carbon narrative of the future.

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Darren Barbee

Darren Barbee is senior editor for Oil and Gas Investor magazine.