Who needs international oil companies?

Speech by Malcolm Brinded, Executive Director Exploration & Production
of Royal Dutch Shell plc

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Do international oil companies still have a role in a changing industry confronting new challenges - with growing dependence on more difficult resources and the pressing need to reduce carbon dioxide emissions?

First, do major resource holders need international companies? I think we’re increasingly not so much needed as wanted. Second, are we needed in mature basins, such as in Europe? I say yes, although not always. Third, are we still needed by our customers, global energy consumers? Not surprisingly, I say yes, and probably more than ever.