Shape Shifting!

The Majors ‘shape shift' whilst E&Ps slumber!

Despite my feeble attempts at damning current newspaper articles as “silly season” journalism, here I touch on a couple of interesting ones from the Times on Friday and today.

Firstly, one about Shell – similarly to BP - adopting a ‘lower forever' mind-set on oil prices, according to its CEO.

Secondly, one arguing that BP and Shell face a huge challenge from an apparently rapidly increasing switch to electric cars.

The latter picks up the interesting point that the Majors will, in fact BP and Shell have begun to, morph/'shape shift' away from being ‘integrated oil & gas companies' into ‘energy suppliers'. This means an increased focus on gas and gas-to-power, more activity in renewables, accepting a gradual decline in oil volumes.

They aim not only to survive but to flourish whatever the future brings.

What about E&Ps?

I have asked before and I will ask again! Are E&Ps responding to these new pressures, to this new future? Not in a way that I can discern. No ‘shape shifting' going on, unless they think it can be “achieved through an inherent ability of a mythological creature, divine intervention, or the use of magic”! You need to click on the ‘shape shifting' link above to get the point!

The analogue of “mythological creatures” may turn out to be a good one.

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