LONDON, ENGLAND--(Marketwired - Oct. 13, 2016) - The past year has been a rocky road for the oil and gas industry. As the global prices of oil remains soft, energy producers around the world are being put under immense pressure. The winners of this year's World Finance Oil and Gas Awards provide an insight into what it takes to overcome the many obstacles that the worldwide depression of energy prices has presented.
Although energy demand is still at record level highs, output has surged ahead. Shale technology has turned the US into both an oil and gas exporter, dropping prices with it. Other major producers have been reluctant to counteract this price drop with a cut of their own, even producing at near record levels still, leaving many questioning whether oil will ever recover to the high prices of past decade. This requires adaption for all involved, from upstream to downstream actors; from those involved in exploration and drilling, to those involved in selling and refining.
The winners of this year's awards offer proof that with the right strategy and resilience, there is still ample room for strong performance in the sector, and still opportunities for the taking. The new regime of low oil prices is reshaping the industry, and only those willing to embrace this new normal will see the benefits.
In the new issue of World Finance, we present names from around the world that have truly set themselves apart from the competition in such testing times for the energy industry. Together, the World Finance research team and our readership have selected the institutions most deserving of this year's World Finance Oil and Gas Awards.
To see the full list of this year's winners, pick up the latest issue of World Finance, available in print and online now.
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