MEED: Energy Partner Saji Sam comments On Diversification Strategies Of IOCs
October 23, 2018
Oliver Wyman energy partner Saji Sam was quoted in a MEED story titled “Surviving Life After Peak Oil.” The article focuses on how the moment of peak oil demand is drawing nearer as rise in demand for crude is predicted to be fuelled by growth centres in Asia, Africa and Latin America while advanced economies are resorting to other sources of energy.
IOCs are adopting multi-pronged diversification strategies and do not hinge on just downstream investments, said Saji Sam, a Dubai-based energy industry consultant with the firm Oliver Wyman. “The trend is clear,” according to Sam. “We see IOC investments slowly but steadily moving away from oil into gas, renewable energy, electric charging, petrochemicals and others.”