Project Management Institute

Over a Barrel

The Oil Industry's Latest Project Approach: Cost Consciousness

Panic coursed through the oil industry in 2015 when prices plunged below US$40 per barrel. Oil exploration projects ground to a halt, companies were bleeding money, and global oil industry leaders became skittish about investing in any project that wasn't a sure bet. As the industry bounces back with oil prices around US$60 per barrel today, post-crash lessons learned regarding cost consciousness remain at the forefront.
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