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Necessity is the mother of (re)invention

May 11, 2021


In brief

The decade of action is upon us

How oil and gas companies are thriving in energy transition

The race to reinvention

While more than 90 percent of all oil and gas companies in our study recognize the need to change, only 21 percent are moving beyond significant change to true reinvention.

High hopes for high returns


Times more margin growth than laggards


Times more revenue growth than laggards


Times the environmental, social and governance (ESG) improvements than laggards

Follow the leaders. But not always.

About the Authors

Muqsit Ashraf

Lead – Strategy

Aleek Datta

Managing Director – Strategy & Consulting, Energy

Silvia Rigato

Managing Director – Strategy & Consulting, Energy

Lasse Kari

Senior Principal – Accenture Research, Energy

Diana Alcala

Senior Manager – Strategy & Consulting, Energy

Kyle Gardner

Senior Analyst – Strategy & Consulting, Energy

Get the essentials

The big read

20-minute read

Oil and gas reinvention index

Read how 179 oil and gas companies are progressing toward reinvention.

Short on time

Executive summary

10-minute read

Learn how reinvention must be anchored on the "5Cs".


5-minute read

See how the industry can potentially achieve up to $500bn in value annually through reinvention.

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