The global trend toward alternative energy sources and shifting stakeholder sentiments could mark the demise of the oil and gas exploration sector. It may also represent an opportunity to transform. This is according to a new report published by Wood Mackenzie, a global research firm that has been analyzing the oil and gas industry since 1973. The report concluded that a number of driving forces indicate that peak oil demand is likely to manifest within the next 20 years—removing the need to tap many of the world’s undeveloped fields. “But the pace and nature of the energy transition is highly uncertain,” noted Andrew Latham, vice president of exploration at Wood Mackenzie and author of the report. “The world might move more quickly to deeper decarbonization. Even if this happens, we still see a chance for exploration to successfully re-invent itself and retain an important role.” Wood Mackenzie projects two […]