From Exploration to Refining...
...The challenges facing the global Oil & Gas industry
2015 began with a big shock for the oil and gas industry, as oil prices dropped to below $50 a barrel for the first time since May 2009. Not surprisingly, the cause and effects of this dramatic change has been debated widely by industry professionals, economists and politicians.
Whilst the oil prices are hitting the headlines at the moment, there are other, longer term challenges that the industry faces.
In this paper, we outline five of the major challenges that the oil and gas industry needs to tackle in the coming years, and what steps companies are planning to take in order to overcome them – irrespective of the current price situation.
It looks at:
- How companies are responding to the difficulties of accessing resources in hostile environments
- Technology and its role in reducing costs
- Skills shortages caused by an aging workforce
- The growing importance of health and safety as operational complexity and risk increases
- Environmental protection and climate change – how the industry is responding
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