Prof. Paul Stevens - Society of Petroleum Engineers, South Australia

Prof. Paul Stevens
The International Oil Companies: Do they have a future?
Visiting Professor, UCL (Australia) and Distinguished Research Fellow (Energy), Chatham House, London
The oil business model of the large international oil companies increasingly appears to be no longer able to deliver. The model, based upon
maximizing shareholder value, now faces a number of serious challenges. These range from an inability to access low cost reserves arising from
political barriers to the “drag of the downstream” and the legacy of vertical integration in a world of seriously rising costs of operation. At the same
time, financial markets are losing their appetite for large, high risk, long-term investments. To compound these problems, there are growing
questions whether the concept of “unburnable carbon” may begin to threaten the value of these companies. Collectively these and other issues
raise serious questions about the future of the large international oil companies and whether they in fact have one.
Thursday 9th October 2014
5:30 pm for a 6:00 pm start
Campus, Torrens Building, 220 Victoria Square, Adelaide
Cost = RSVP: $25 ($15 students)
No/late RSVP: $30
Drinks & Nibbles Provided
RSVP by COB Tuesday 7th October to
[email protected]
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