Cost restructuring; Challenge of the 1990s

Journal Article · Mon Nov 18 04:00:00 EST 1991 · Oil and Gas Journal; (United States)

OSTI ID:5650937

Schmidt, J A ^[1]

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1. Towers Perrin, Chicago, IL (US)

This paper reports on the cost restructuring of the petroleum industry. This current decade is likely to be one of the most challenging for the petroleum industry. Though petroleum remains among the world's biggest businesses, news of consolidations, restructuring, and layoffs permeates the oil patch from the Gulf of Mexico to the Arctic Isles. The recessionary economy has accelerated these changes, particularly in the upstream sector. Today, even the best-managed companies are transforming their cost structures, and companies that fail to do likewise probably won't survive as independent companies. Indeed, significant consolidation took place during the 1980s. More consolidations can be expected in this decade for companies that do not adapt to the economic realities of the mature business.

• OSTI ID: 5650937
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:46; ISSN OIGJA; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
ARCTIC REGIONS
ATLANTIC OCEAN
CARIBBEAN SEA
COST
DRILLING
ECONOMIC ANALYSIS
ECONOMICS
GLOBAL ASPECTS
GULF OF MEXICO
INDUSTRY
PETROLEUM INDUSTRY
POLAR REGIONS
SEAS
SURFACE WATERS
SURVEYS
WELL DRILLING