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
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
