Oil and gas companies most committed to radical reinvention amid Covid: Accenture report

The oil and gas companies most committed to reinventing themselves over the next three years as a result of the Covid-19 pandemic expect to grow their revenues and margins at twice the rate of companies least committed to reinvention, according to a new report from Accenture that outlines best practices companies should adopt to thrive in the energy transition.

The report, titled “Necessity is the Mother of (Re)invention” features results from a global survey of more than 200 oil and gas executives and introduces Accenture’s “Reinvention Index,” which analysed the companies across key factors related to reinvention. Accenture classified the 10% of companies that scored the highest in the Index – who are setting the pace for reinvention through bold and decisive action – as reinvention “leaders,” with those in the bottom 25% labelled “laggards.”