The oil industry is shifting towards NOC hegemony, with peak oil arriving from the demand side and the energy mix changing. Oil companies are already adapting their business strategies, but they must leverage their core competences to survive and benefit from these challenges. The future industry ecosystem will be shaped by new players and the impact of industry convergence, with key sustainability/survival factors including innovation, partnerships, and a focus on renewable energy. Executives must be prepared for this changing landscape and consider the potential business models for success.
