Oil and gas is a trillion dollar industry, and every actor within it, be it national oil companies, multinationals, independents or oilfield services companies, has a stake in oil and gas flourishing. And now these players face an existential question, how will the industry react to new challenges in the shape of electric vehicles and renewables? Not long ago, technological advancements led to the rise of U.S. shale. A significant increase in U.S. shale oil and shale gas production not only allowed the United States to reduce its oil import dependency but also influenced international oil prices. This may be good news from a consumer perspective, but it was detrimental for most major oil producers, particularly OPEC members. Oil prices have fallen significantly since mid-2014 because of a myriad of factors, including a significant increase in shale oil and gas production. First, OPEC believed it could challenge this emerging […]