There are many questions as to how the oil and gas industry will respond to the social, political, and economic forces transforming the sector in the midst of the global transition to lower carbon energy sources. On the one hand, oil and gas are still being used to meet more than half of the world’s primary energy needs. On the other, significant challenges are stacking up, not least of which is the Covid-19 pandemic. Covid-19 has sent oil and gas demand plunging — turning oil prices negative for the first time ever – slashed industry jobs, and left uncertainty in its wake. Despite these massive challenges, the industry will continue to play an important part in the transformation of the global energy landscape for the foreseeable future.
To help explain how the oil and gas sector is transforming, the many challenges the industry is facing, and the intersecting factors that will shape its role in the energy transition, the Center on Global Energy Policy (CGEP) partnered with the World Economic Forum on the Oil and Gas Transformation Map, an interactive tool for users to explore and make sense of the complex and interlinked forces that will dictate the future of the industry.
Transformation Maps are the World Economic Forum’s dynamic knowledge tool. Users can explore the complex and connected forces that are transforming industries, economies and global affairs. The maps display analysis written by experts along with machine-curated content, allowing users to visualize and digest more than 250 topics and the connections and inter-dependencies between them, and help leaders make more informed decisions.
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