Oil firms chase efficiency gains
The spectre of ‘peak demand’ puts an onus on producers to tighten up their games
Energy efficiency in the upstream clearly means different things to different people. But what is evident is that virtually every firm is looking at where to make marginal gains, as a subdued price environment and fears over the future of oil demand growth significantly reduce the ability to run flabby operations. The oil majors are taking divergent paths in some aspects, but one trend is easily identifiable, namely portfolio efficiency. The firms are concentrating their financial and technical muscle on fewer, high-potential prospects in key upstream areas and excluding marginal production provinces—in turn, leaving independent producers to bring their own specific focus into areas from whi
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
