Q&A: Newly named Houston corporate energy, chemicals leader on navigating dynamic energy transition sector

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Teresa Thomas, newly named vice chair and national sector leader for energy and chemicals at Deloitte, shares her vision in an interview. Photo via LinkedIn

Deloitte is undergoing a leadership shift — and this evolution for the nearly 200-year-old company directly affects its Houston office and the energy transition line of business.

Earlier this year, Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice. She succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

In an interview with EnergyCapital, Thomas shares a bit about what she plans on focusing as she takes on her new role.

EnergyCapital: As you transition into your new role, how would you describe your focus and priorities?

Teresa Thomas: I am excited about what lies ahead for the energy and chemicals sector. The sector is moving into the new year with strong production and a focus on returning value and achieving efficiency. The sector is innovating with new technologies, such as artificial intelligence, including generative AI. that can capture value from data to transform and reinvent business processes and optimize the workforce.

The mission for my leadership role is to grow our practice by serving our clients with world-class solutions; venture into new innovative areas that exceed the changing needs in our sector; and attract, retain, and develop the best talent across Deloitte’s four businesses. I am bullish about the sector's role in leading on the forefront through the energy transition, pioneering innovative technologies and solutions that will help solve some of society’s most pressing issues, and contributing unique and differentiated ideas to help transform the energy and chemicals sector to meet global demands in a sustainable and profitable way.

EC: How is Deloitte navigating the trends and progression of the energy transition? What are clients’ expectations, and how does the company plan to stay a step ahead?

TT: At Deloitte, we proactively navigate the dynamic landscape of the energy transition with a strategic, collaborative, and innovative edge. Our extensive global presence and diverse partnerships, spanning industries, regions, and academic institutions, keep us abreast of emerging trends, regulatory shifts, and technological advancements. Client expectations are evolving towards sustainable practices, and we respond by providing innovative solutions that align with their goals.

Our commitment to staying a step ahead involves continuous investment in talent development and innovative technologies. Central to our strategy is taking ownership of pivotal marketplace issues and adeptly guiding clients through the intricacies of their business challenges. Through harnessing our extensive expertise that cuts across our four business, we aim to create growth opportunities and offer innovative solutions.

EC: Energy companies have been known to more slowly adopt and adapt to new technologies. Is that changing?

TT: We believe the energy and chemicals industries is at the forefront of adopting cutting-edge technologies to bolster operational efficiency, increase productivity, reduce costs, and advance safety and sustainability measures. From bringing new materials to consumers, pioneering offshore operations, transforming shale resources into one of the most competitive resources, to developing new and sustainable molecules, the industry has highlighted its adaptability. The industry continues to be a leader of groundbreaking technologies including the development of biofuels, biomaterials, carbon capture, hydrogen production, and more.

Additionally, energy companies are increasingly leveraging digital technologies, including GenAI to enhance operational efficiency, optimize resource management, and drive innovation across various segments of the industry. From interpreting seismic data and predicting reservoir behavior, to employing carbon analytics and tracking GHG emissions, the industry is transforming its operations and contributing to a more sustainable and efficient energy landscape. While there is much more to be done, we remain confident that the energy industry will continue to help lead the way in innovation.

The oil and gas industry has been increasingly investing in clean energy over recent years, wherein the clean energy investments by the oil and gas industry as a share of their upstream capex quadrupled between 2020 and 2022. Yet, this clean energy investment remains less than 2 percent of the overall clean energy investments made in 2022.

After having outperformed the broader S&P 500 by over 45 percent since 2021, the oil and gas industry faces a threefold mandate:

  1. uphold financial stability,
  2. sustain high dividends, and
  3. augment investments in low-carbon ventures.

However, the central challenge lies in scaling the energy transition while maintaining profitability and shareholder value.

EC: The chemicals sector, in particular, seems ripe for disruption with new and developing alternative materials on the scene. What do you expect to see from this industry in 2024?

TT: There is a chemicals and material transition taking place as companies are pushed to develop more sustainable, lower-carbon materials. And given that 96 percent of all manufactured goods are touched by chemistry, this transition could also be transformational. Over the next year, we expect chemical companies to continue positioning themselves for this high-tech, low-carbon future in three notable ways.

  • First, we expect companies to increase automation and digitalization to improve productivity and accelerate innovation.
  • Second, we see companies continuing to invest in circular solutions, whether it's designing materials for a sustainable end-of-life or using renewable feedstocks.
  • Third, we expect some companies to lean into the new chemicals and materials needed to support the energy transition.

EC: As a Houstonian, what do you see the city’s role amidst the future of energy?

TT: Houston is a top global city, driving transformational change and a convener to an ecosystem of players that are leading the charge in the energy transition through biofuels, biomaterials, and advanced methods for carbon capture and hydrogen production.

Although not a native, I did find the energy and chemicals sector early in my career which brought me to this dynamic city. Houston’s advanced network of partners are working together toward creating innovative solutions that are accelerating the advancement of a lower carbon future.

———

This conversation has been edited for brevity and clarity.

This article originally ran on EnergyCapital.

From fossil fuels to clean and sustainable energy, here's what experts postulate the industry will look like in 2050. Natalie Harms/InnovationMap

Overheard: Experts weigh in on what the energy industry will look like in 2050 at Houston summit

Crystal ball

There are a lot of things up in the air within the energy industry when you look at the next 40 years — clean energy, regulation regarding fossil fuels, carbon footprint, and so much more.

At the Society of Petroleum Engineers' inaugural SPE Dot Energy Leadership Summit, the big question was what does 2050 look like for the industry. Tasked with the discussion were three energy leaders — Deanna Zhang, energy tech investment banking associate at TudorPickering Holt & Co., Lees Rodionov, vice president of Global Stewardship at Schlumberger, and David R. Hall, managing director of Hall Labs — on a panel moderated by Gabriella Rowe, CEO of Station Houston.

The panel, which took place on August 15 at MATCH, discussed all the variables and what their potential theories are for how time will change oil and gas. Of course, no one knows for sure. If they did, they wouldn't be sharing it, would they?

"It's very hard I think to capture all the things that will play out by 2050, and honestly, if I knew with any amount of certainty what would happen, I wouldn't be talking about it in public," Zhang says. "I'd be in a basement somewhere, making a company that would make a trillion dollars."

Fair enough. Here are some other overheard quotes from the discussion in case you missed it.

“I think we’ll face the fact that we’ve got to be totally clean and solve the emissions problem and do a complete full cycle. It’ll mean lots of innovation, but I certainly see the capability to get it done.”

— David R. Hall, managing director of Hall Labs.

“When it comes to bridging the efficiency debate and the green and clean debate, that will be something that by 2050 we will have bridged.”

— Deanna Zhang, energy tech investment banking associate at Tudor Pickering Holt & Co. Currently, she says the industry is split. "Right now we are trying to optimize for two objectives. The industry is divided."

“I think that one of the challenges actually is that it’s an idea of ‘us and them,’ and energy is a ‘we.’ Everyone has a role to play.”

— Lees Rodionov, vice president of Global Stewardship at Schlumberger. She emphasized that it's the energy industry — oil and gas is just one part, and it's where there's a lot of money. O&G does have opportunities for carbon neutral development.

“The opportunity for the oil and gas industry is to recognize the problems and then announce solutions itself. If the industry doesn’t, regulators will."

— Hall says on moving the industry toward a cleaner, greener future.

“In 50 years, we’ll find a way to survive, but it won’t be the same quality of life.”

— Zhang, when asked about the worst case scenario if the industry doesn't make big changes. She cites urbanization and a greater wealth gap as some things to expect.

"Stop saying 'oil and gas.' It's 'energy.'"

— Rodionov, when asked about bridging the gap between renewables and fossil fuels.

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Tech giant Apple opens Advanced Manufacturing Center at massive Houston facility

up and running

Cupertino, California-based Apple Inc. unveiled its Advanced Manufacturing Center in the Houston area last week, marking the completion of the second of three facilities the tech giant plans to launch in the city by the end of this year.

The 20,000-square-foot training center will welcome small- and medium-sized businesses for free training and educational sessions to "help accelerate smart manufacturing across America," according to a release from Apple. Apple opened a similar Apple Manufacturing Academy in Detroit last year.

The AMC is part of Apple's 500,000-square-foot site in northwest Harris County. It also features a massive manufacturing site for Apple’s advanced AI servers and Mac mini. The facility was originally slated to open in 2026, but Apple began producing its advanced AI servers ahead of schedule in 2025.

The company said it plans to begin manufacturing its Mac mini at the site this year. The move will bring production of the compact desktop computer to the U.S. for the first time.

“In less than nine months, we have invested hundreds of millions of dollars into this Houston facility. We stood up a factory, started production, and shipped the first advanced AI servers off the line. Today, we’re thrilled to open our new Advanced Manufacturing Center, a place where businesses, workers, and students can learn the same innovative processes that we use to make Apple’s most groundbreaking products. And we’re pleased to begin Mac mini production later this year,” Tim Cook, Apple’s CEO, said in the news release. “We believe in American workers and American ingenuity, and we are moving at an incredible pace because we want to build more than great products. We want to build the future of American manufacturing.”

Apple's Advanced Manufacturing Center. Photos courtesy Apple

Apple's Houston expansion is part of a $600 billion commitment the company made to the U.S. in 2025.

The company originally announced plans in February 2025 to open a 250,000-square-foot Houston factory, but doubled the facility's planned size about a year later. Apple has reported that the factory will employ thousands of workers.

“Houston is grateful to Apple for this significant investment in our city. The Advanced Manufacturing Center will create local jobs and will continue improving the quality of life of Houston residents," Houston Mayor John Whitmire added in the release. "The AMC also recognizes our city as a growing technology hub and solidifies Houston’s leadership in the manufacturing sector of the United States.”

The opening comes on the heels of New Jersey-based pharmaceutical giant Bristol Myers Squibb Co. officially naming Houston home of its new $2.3 billion, state-of-the-art manufacturing site. Read more here.

Nominations for the 2026 Houston Innovation Awards are due by Aug. 27

Calling All Innovators

Calling all Houston innovators: The 2026 Houston Innovation Awards, presented by InnovationMap, return this fall to celebrate the best and brightest in the Houston innovation ecosystem right now.

We're asking you to nominate Houston's top innovators and startups for this year's awards. Nominations are open now through August 27 and can be made on behalf of yourself, your organization, and other influential leaders in the local innovation scene.

The annual awards program recognizes the most innovative individuals and companies in Houston across 10 prestigious categories.

This year's awards will honor the following categories:

  • Minority-founded Business, honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation.
  • Female-founded Business, honoring an innovative startup founded or co-founded by a woman.
  • Energy Transition Business, honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy, and beyond.
  • Health Tech Business, honoring an innovative startup within the health and medical technology sectors.
  • Deep Tech Business, honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges, including those in the AI, robotics, and space sectors.
  • Startup of the Year (People's Choice), honoring a startup celebrating a recent milestone or success. The winner will be selected by the community via an interactive voting experience.
  • Scaleup of the Year, honoring an innovative later-stage startup that's recently reached a significant milestone in company growth.
  • Incubator/Accelerator of the Year, honoring a local incubator or accelerator that is championing and fueling the growth of Houston startups.
  • Mentor of the Year, honoring an individual who dedicates their time and expertise to guide and support budding entrepreneurs.
  • Trailblazer, honoring an innovator who's made a lasting impact on the Houston innovation community.

You have three weeks to submit nominees, so don't delay — nominate today at this link or fill out the form below. Qualified nominees will receive a formal application to complete, which will be reviewed by our esteemed panel of judges to determine the finalists and winners.

More announcements about the 2026 Houston Innovation Awards are coming soon, including an introduction to this year's panel of judges. Interested in sponsoring the 2026 Houston Innovation Awards? Please contact sales@innovationmap.com.

$5B MD Anderson-anchored Austin medical center to break ground this fall

moving forward

Construction on the $1 billion first phase of the AI-native University of Texas Dell Medical Center in Austin—which will feature a hospital operated by Houston’s UT MD Anderson Cancer Center—is set to start this fall.

The UT System Board of Regents approved funding for first-phase construction on Aug. 12.

The medical center—now expected to cost $5 billion, up from the initial $2.9 billion estimate—will span about 2.5 million square feet. It will include 300 to 500 patient beds, outpatient facilities, an emergency department and specialized care for cancer patients.

MD Anderson will bring its world-renowned oncology programs to the center’s integrated health care model, Dr. Claudia Lucchinetti, senior vice president of medical affairs at UT Austin and dean of the university’s Dell Medical School, tells Health Leaders.

Earlier this year, Austin tech billionaire Michael Dell and his wife, Susan, pledged $750 million for development of the medical center. The medical center, scheduled for completion in December 2030, will be a cornerstone of the new 300-acre UT Dell Campus for Advanced Research, a medical education and research hub.

“Through this new campus and medical center, Texas will lead America in health care innovation,” Gov. Greg Abbott said when the research campus was announced in April. “The next generation of medical breakthroughs will take place in Central Texas.”

The medical center will fold AI tools and other technology into the infrastructure, rather than having them added after it’s built. Among other capabilities, the technology will monitor real-time medical data, automate data entry, and help health care professionals quickly predict and identify risks to patients, according to Health Leaders.

“We are not just building a new medical center,” Lucchinetti says. “We are building a fundamentally new model of health. It’s not just a new facility. It’s not just a new collaboration. It is a convergence of capabilities that rarely come together at the same time.”

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