Following an unpredictable and shocking 2020, stability and sustainability are set to be the two major themes in the oil and gas industry this year. Companies in the sector will continue prioritizing financial resilience to boosting upstream investments, as global oil demand, although higher than in 2020, will still be below the pre-crisis levels. In addition, more and more oil and gas firms will include sustainability, the energy transition, and Environmental, Social, and Corporate Governance (ESG) considerations in their strategic and investment plans, Wood Mackenzie said in its first look into the biggest themes in oil and gas this year. “New businesses, and new business models, are emerging from the wreckage of 2020. Companies will focus their investment on building a foundation which will be sustainable across a range of scenarios,” says Wood Mackenzie’s Senior Vice President of Corporate Research, Tom Ellacott. Diversification into green energy, including renewable electricity […]