Most of the top financial officers of oil and natural gas companies expect 2023 to bring increases to profitability as a result of post-Covid demand recovery and investors “warming to the industry,” according to a recent survey from BDO USA LLP.

Energy CFOs

In the face of a potential economic downturn this year, energy companies are still “gearing up for growth,” the firm said in its 2023 Energy CFO Outlook. In its report, BDO surveyed CFOs from 100 energy companies, with half of them running the finances for renewable energy companies and half CFOs at oil and gas companies.

“Competition for capital in energy will be hot in 2023,” said BDO’s Clark Sackschewsky, national leader for Natural Resources Practice. “To stand out from the competition, energy CFOs should continue...