Thematic Report
Overview of Global Sourcing in Oil & Gas Vertical
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The Oil and Gas (O&G) industry has been a moderate adopter of global sourcing. However, with declining oil prices and associated cost pressures, the industry is going through a transformative phase. Leading players have increased their focus on cost optimization to deal with declining revenues and profit margins. As a result, firms have started adopting emerging technologies (e.g., analytics, mobility, and IoT) to enhance operational efficiency. Moreover, players have also explored global services in upstream processes, that have traditionally been supported onsite and internally.
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