Oil and gas in the new norm

Dateline 2021-01-09, The Star:

SINCE the collapse of crude oil prices in 2014, the oil and gas (O&G) sector has never been the same.

First came the shale boom in the United States, creating ample supply and potentially changing geopolitics in the process by making the country less reliant on oil imports.

Another sting to the industry was the heavy debts that players struggled to pay back following the oil price rout that took place from 2014 to 2016.

The O&G industry has also been facing declining demand as more countries adopt cleaner and more environmentally friendly methods to generate energy.

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