Covid crude price crash gives oil firms years to reshape
The Beatrice Alpha complex and turbines
The Covid-inflicted oil price crash has left oil and gas companies facing two distinct choices, a new PwC report said. They can either become broader energy firms or oil and gas specialists.
As the gap in margins between oil and renewables projects is narrowing, the oil and gas sector should get ready for a “greener, more complex future”. Going down the route of becoming a broader energy company will require investment in an “array” of low carbon sources, partnerships with technology players and the setting of net-zero targets.
Source: PricewaterhouseCoopers
