Oil and Gas

Reinventing the oil and gas industry: compounded disruption

Pump jacks are silhouetted against the rising sun on an oilfield in Baku, January 24, 2013. Oil in Azerbaijan dates back to the 19th century and though the industry faltered when the country gained independence after the fall of the Soviet Union, investment has returned, new reserves tapped and oil started to flow again. Forty three million tonnes of oil was pumped in 2011 and contributed more than half of Azerbaijan's gross domestic product (GDP). Picture taken January 24, 2013

The twin blows of global oversupply and a drop in demand herald a radical transformation of this sector Image: REUTERS/David Mdzinarishvili

Muqsit Ashraf
Global Lead, Accenture Strategy
Pedro Caruso
Managing Director, Global Head of Oil & Gas Downstream, Accenture
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