Past event

Corporate Members

International Oil Companies: The Demise of the Old Business Model

Chatham House London

Participants

Professor Paul Stevens, Distinguished Fellow, Energy, Environment and Resources, Chatham House

Massimo Mondazzi, Chief Financial & Risk Management Officer, Eni SpA

Chair: Francine Lacqua, Editor-at-large, Bloomberg TV

Overview

Governments’ increased focus on climate change action over recent years, coupled with the collapse in oil prices, has refocused attention on problems associated with international oil companies’ traditional business model. Paul Stevens will argue that the source of these problems are not confined to such recent developments and are rooted far deeper in a business model that has not adapted to a dramatically changed operating environment. He will suggest that IOCs must manage a gentle decline by downsizing or risk rapid collapse by trying to carry on business as usual. The panel will respond to these arguments and consider the variety of options that might allow IOCs to adapt to changing conditions and improve their situation. 

This event is open to corporate members only and will be followed by a reception.