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Oil & Gas Industry Dynamics

   

Added on  2021-01-02

10 Pages3473 Words118 Views
Oil & gas industry Dynamics

Table of ContentsINTRODUCTION...........................................................................................................................1Critically analysing BP's view of future.................................................................................1Evaluating why BP is taking such a radical approach............................................................2Critically analysing how the fundamental of oil, gas and fuel mix expectation are playing outon BP decision........................................................................................................................3Critically analysing the strategy of both the firm on their new business segments...............5REFERENCES................................................................................................................................7

INTRODUCTIONThis report is based upon the oil and gas industry and its main aim is to understanding thestrategy which is used by the oil and gas industry. The present report is based upon two casestudy i.e. British Petroleum (BP) which is one of the multinational oil and gas company in UKand another is Statoil and Total which is another multinational energy company who operates itsunit in more than 36 countries. The report critically analyse BP's view of the future and then statewhy the quoted firm will take such an approach. Study also describe how the fundamental of oil ,gas and fuel mix expectation are playing out on BP decision and critically analyse the strategy ofboth the firm in the future. Apart from this, the report also critically reflect on the causes of thisstructural change and why OPEC measures taken in order to defend oil prices. Critically analysing BP's view of futureBritish Petroleum mainly work on oil and gas company and it is also considered one ofthe seven largest company in world. But now the company's views regarding their future arechange such that in 2021, its focus is to start up new project that is related to natural gas only.This is so because it has been analyzed that gas is considered to be one of the fastest growingfossil fuel source for all the coming decades as compared to oil and coal. Apart from this, thecompany also wants to capturing the carbon emissions by investing in UK technology firm (BPfuture strategy, 2019). In this project the firm, wants to remove carbon dioxide and emissionwhich is created when the sustainable biomass is used to generate an electricity. Next view for BP is such that it wants to invest mostly on natural gas production becausethe company says that gas is one of the fastest growing fossil fuels and that is why by using C-capture's technology which could reduce the cost of capturing carbon dioxide and this process isalso applied to power generation from coal, gas and biomass for the production of cement, steeland aluminum. Thus, it clearly shows that the company only wants to reuse the natural gas inorder to protect the environment from major harmful gases (Güntner, 2019). This is not sufficientfor the quoted firm such that it also announces another project that is related to gas production ofEgypt's West Nile Delta (WND). In this project, the company provide abundant supply ofdomestic energy greater than ever, the main aim of this project is to deliver the gas production tothe people of Egypt. Beside this, the quoted firm also wants to make 3.5 million metric ton of sustainablegreenhouse gas emission reduction in 2025 and further zero net growth in their operational1

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