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| STRATEGY & FINANCE
Industry Trends The petroleum sector faces a number of challenges that may radically alter the industry’s structure. Global volatility has affected international crude oil prices, placing company profits and refining margins under pressure. In turn, this situation has caused the industry’s traditional focus on cost reduction and increasing returns on capital to intensify. The outcome has been mergers, refinery closures, and increased pressure on performance improvement—all of which are set to continue. The performance of the chemical industry is directly impacted by changes in the energy and oil industries. However, apart from that, the industry itself continues to face a number of structural challenges. These range from product maturity, reduced differentiation, and increased competition, to increased regulatory pressures and greater customer mobility. As a result, companies in all sectors of the industry, from bulk commodities to specialties, must now continually reappraise their strategic direction. Strategy & Finance Services Nexant’s is helping companies deal with near-term business operational performance challenges while positioning for growth over the next decade. Our Chem Systems professionals—now members of Nexant’s integrated petroleum and chemicals organization—have supported the petroleum and chemical sector for over 35 years, focusing on:
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