How to thrive in the transition
Weaker oil prices, new digital trends and the energy transition are redefining the business. State companies must be prepared
Crude prices below $50 a barrel are not a blip on the radar—but they continue to challenge oil and gas firms across the world. International oil companies (IOCs) and oil-field services (OFS) firms are busy restructuring to adapt to this new pricing reality. Companies like BP are aggressively changing their portfolios to favour smaller, brownfield endeavours that carry high margins, with lower risk. With a focus on cost per barrel, the industry is exploring new digital opportunities and models of collaboration. The recent establishment of Baker Hughes and GE Oil & Gas into BHGE is an example of how major OFS firms are reshaping the industry to optimise oil and gas operations across the va
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
