The Times: Roland Rechtsteiner On The Oil & Gas Double-Shock
Apr 13, 2020
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Oliver Wyman partner Roland Rechtsteiner was quoted in a story in The Times titled “Climate change is off the oil industry’s agenda - or is it?".
The article describes how the combined impact of the COVID-19 pandemic and the recent oil price crash has companies cutting back not only on production, but also on refining and petrochemicals operations.
“Oil majors are hit hard because historically downstream businesses still dampened oil price crashes," said Rechtsteiner.
He then goes on to describe how the case for investing in green energy has been enhanced. “At sub-$US35 oil, average returns from oil and gas projects are in the realm of typical renewables projects,” Rechtsteiner said. “However, the latter have a much more attractive risk profile; it is more utility-like than commodity-like.”
To read the complete article in The Times, click here.