The oil industry's five guiding themes

2015 will be a brutal year for the oil industry as a whole. The entire sector will have to adapt, says oil consulting firm Wood Mackenzie.

Photo: Marit Hommedal - Statoil

The year 2015 will likely also be remembered in the oil industry many years from now, just as the same will no doubt be the case for late 2014. Challenges are so numerous that they are almost lined up, says Wood Mackenzie, a consulting firm that specializes in the energy sector.

The company has recently published an analysis that looks at how oil companies - both the super majors, the independent and the state-owned - are equipped for the factors that will shape the industry in 2015, and according to Wood Mackenzie, five themes will overshadow new discoveries, costly exploration and the hunt for growth throughout the oil industry.

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