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It is a challenging time for the Oil and Gas (O&G) industry in view of the economic slowdown due to the ongoing global COVID-19 pandemic. The lack of industrial activities is reducing electricity demand, an area where the O&G industry plays an integral role.
Besides these rapidly evolving market conditions, operators within the sector also find themselves confronted by disruptive trendson multiple fronts, brought on by largescale transformations in the sector.
Accenture’s report, Fueling The Energy Future: Reinventing Oil And Gas For A New Purpose, has uncovered four transformative trends:
These complex changes are also mandating operators to reimagine their business purpose and reposition themselves to be prepared for these impending changes. In order to remain relevant in this new energy era, Accenture’s report notes that there are two critical outcomesthat O&G businesses can achieve:
Read Accenture’s report, Fueling The Energy Future: Reinventing Oil And Gas For A New Purpose to discover what other measures O&G companies can take to ride this next wave of game changing developments.