European oil companies stuggle to meet the challenge of an uncertain future - Part II
European oil companies face formidable challenges. The traditional model of an oil company integrated from drilling rig to petrol pump is breaking down, partly driven by the rapid rise of the supermarkets and hypermarkets. The serious oversupply situation in the industry presents further challenges, exacerbated by the availability of copious new sources since the end of the Cold War. The adoption of new technologies is also affecting the oil companies-for example, remote telemetry, networking and voice recognition systems. The new technologies increase efficiency but are expected to result in significant job losses. Other forces at work include environmental pressures and market deregulation. In the first article in this series, the recently announced merger of BP and Mobil`s downstream operations in Europe was discussed in terms of how it reflects the pressures on the oil world. In this concluding article, we explore what executives need to do to position their companies for survival in the next century, and how they will have to change the workings of their organizations and, most significantly, their leadership styles.
- OSTI ID:
- 482425
- Journal Information:
- Fuel Technology amp Management, Journal Name: Fuel Technology amp Management Journal Issue: 5 Vol. 6; ISSN FTMAFH; ISSN 1087-4003
- Country of Publication:
- United States
- Language:
- English
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