CHAPTER 10
Integrated Majors and the Evolution of the Competitive Landscape
The global crude oil industry has undergone significant changes over the last three decades. Within the industry, numerous technological developments have taken place as exploration and oil and gas drilling have remarkably advanced beyond expectations. Profound developments within the technological arena abound as producers continually push scientific, geological, and engineering capabilities to new levels. What does that translate into for the consumer, producer, and commercial users of refined products?
In addition, the competitive arena has changed for integrated majors as they now face two very significant challenges: Growing the reserve base and increasing production. ...
