Competing in a rapidly changing world
Society’s move towards renewables and low-carbon energy sources poses an existential threat to established oil & gas companies. Major business transformations may be required in order for firms to survive, and technological change will play a key part. Although these indisputable trends are already reshaping the industry, fundamental change will not happen overnight. Oil & gas suppliers of every type, from upstream producers to fully integrated businesses, must optimize for today’s opportunities as well as planning for an uncertain future. The ability to change course quickly and leverage opportunities provided by new technology will be crucial differentiators in this unpredictable environment. Enterprise IT systems must support such an approach.