Top 10 Oil and Gas Consulting/Service Companies - 2020
The COVID-19 outbreak has added a major layer of uncertainty to the future of oil and gas industry. In 2020, the oil and gas demand has dropped for the first time since 2009 due to the deep contraction in oil consumption in Asia and the global ban on travel. Following the downfall, a sharp rebound in 2021 is expected, but the yearly growth in global oil demand will grow slowly thereafter. At the moment, however, oil and gas leaders are thoroughly examining their corporate risk and resilience, determining the deterring factors, and considering actions to correct failures.
In addition to immediate crisis management, oil and gas companies are integrating risk into strategic planning rather than treating it as a separate effort. Further, these companies are moving toward zero-budgeting to allocate resources based on efficiency, necessity, and value with the shifting priorities. In today’s challenging conditions, zero-budgeting can help stretch limited resources to achieve greater returns. Moreover, it is becoming increasingly essential for oil and gas companies to reinforce cybersecurity protections as their employees are working remotely, making the company’s database more vulnerable and prone for an attack.
On a positive note, once the pandemic is contained and travel restrictions are lifted, global oil demand will begin to rise and buoy the oil price along with it. This implies that individual companies must continue to remain steady until its operations resume to normal.
At this juncture, there is a wide variety of oil and gas solution providers and consulting companies entering the industry with a set of advanced and integrated offerings. To help companies navigate through the best-of-breed oil and gas solutions and services, CIOReview has compiled this edition. The enlisted organizations are poised to transform the oil and petroleum landscape. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you CIOReview’s, “10 Most Promising Oil and Gas Consulting/Service Companies –2020.”