Innovation in Oil & Gas: Canada 2016
Deloitte Top Oil & Gas Innovation Trends
In the current environment of declining oil prices, high costs and increasing complexity, the need to innovate has never been more crucial for oil and gas companies. In addition, with the new Canadian government’s climate change agenda, there is an increasing expectations on companies to create value across the triple bottom-line of cost, environmental sensitivity and social license to operate. While most companies acknowledge that innovation is the key to survival, they need to have a strategy in place to execute in a systematic way or else their long-term survival may be in jeopardy.
In this study, Deloitte Monitor examines the oil and gas industry’s current perspectives on innovation as well as strategic, organizational, financial and performance requirements to develop and support an innovative environment within companies.