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.

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

00:56:39

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 argues 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 suggests that IOCs must manage a gentle decline by downsizing or risk rapid collapse by trying to carry on business as usual. The panel respond to these arguments and consider the variety of options that might allow IOCs to adapt to changing conditions and improve their situation.

More information at International Oil Companies: The Demise of the Old Business Model