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Capturing the next frontier of value: Operating models for oil and gas fields of the future

As the global energy transition accelerates, upstream operators must modernize and shift to more economic operating models. Where and how should they seek the next generation of efficiency gains?
Capturing the next frontier of value: Operating models for oil and gas fields of the future

Sector Perspectives

Article

An analytical approach to maximizing reservoir production

– Producing assets have significant subsurface optimization potential. We take a deeper look at what it takes to unlock this value.

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Market outlooks

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MARPOL implications on refining and shipping markets

– Opportunities will depend on how other sectors respond.
Article

New reality: electric trucks and their implications on energy demand

– When DHL decided in 2013 that it wanted to upgrade its fleet to electric powertrains, it could not find a suitable vehicle or an original equipment manufacturer willing to develop one. So, they decided to develop a vehicle themselves.

Editor's Choice

Report - McKinsey Global Institute

What the future of work will mean for jobs, skills, and wages

– In an era marked by rapid advances in automation and artificial intelligence, new research assesses the jobs lost and jobs gained under different scenarios through 2030.
Article

Why oil and gas companies must act on analytics

– Offshore platforms are, on average, running at only 77 percent of maximum production potential. Rigorous use of analytics can improve substantially on that.

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More insights

Article

Oil-field services sector gears up for a recovery … but is not there yet

– Stabilizing oil prices stimulated activity in some areas, which fed through to the OFSE sector, helping support the market. Emerging... consensus amongst OPEC countries is likely to position the market for recovery; however, execution remains a challenge.
Article

What slowing additions to refining capacity will mean to the industry

– Announced refining capacity additions remain high relative to recent history, but will be lower than previously forecast. Conversion... investments continue to exceed distillation and will increase complexity in the refining industry with potential opportunities for refiners, traders, suppliers, shippers, and the EPC industry.
Article

As gasoline demand booms, don’t sleep on diesel

– In 2015, gasoline-diesel differentials favored gasoline for the first time in many years, but the longer-term future favors diesel,... and meantime refiners need to be able to swing between the two.
Article

The oil and gas organization of the future

– Five ideas can help organizations adapt as technological and political trends reshape the industry.
Article

Decoding the US refiner’s exposure to RINs

– Renewable fuel credit prices have been high in 2016 for US refiners. Evidence suggests much of this cost passes through, but market... volatility and a lack of transparency may mean refiners are still exposed.
Commentary

Five technologies for the next ten years

– Over the next decade, mobile, the Internet of Things, machine learning, robotics, and blockchain technologies will change a great... deal about how the oil and gas industry works.
Commentary

The next frontier for digital technologies in oil and gas

– Harnessing new technologies could boost efficiency—a mandate that’s especially important for oil and gas players globally.
Article

The oil field services and equipment market escapes its free fall

– While OFSE revenues contracted again in Q2, the rate of the decline is slowing, suggesting the sector is starting to benefit from... an increase in activity.
Article

Five strategies to transform the oil and gas supply chain

– Companies in the oil and gas supply chain have gone from boom to bust in the past two years. Here are five strategies oil-field... service and equipment companies are exploring to adjust to the changing environment.
Commentary

Five things Bill Gates gets right on energy

– And one I’m not so sure about.
Article

Capturing value from M&A in upstream oil & gas

– Successful M&A requires both a solid strategy and excellence in integration planning and execution.
Interview

‘We’ve realized a ten-year strategy goal in one year’

– Gerard Paulides, who led Shell’s $66 billion acquisition of BG, describes the thinking, the process, and the intensity behind... the deal.
Article

Energizing worldwide oil and gas deepwater developments

– Deepwater is under the microscope in today’s environment. Oil executives discuss tactics to close the gap between development... cost and commodity prices.
Article

Black swans and barrels: How to think about the future of oil prices

– No one can be sure where oil prices are headed. McKinsey’s Scott Nyquist answers the questions business leaders are asking about... the state of the market.
Article

Mergers in a low-oil-price environment: Proceed with caution

– A deal deluge typically follows an oil-price collapse—but hasn’t always created value. Past cycles teach that deals... enabling players to lower costs will probably be most valuable in today’s volatile oil-price world.
Article

Tough first quarter ends with signs of finding a bottom

– The first three months of 2016 were the toughest so far in the oil and gas industry’s prolonged downturn.

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