O&G consolidation should be in the works

JUST over six months since the oil price collapse, the industry should be entering its consolidation phase.

For those still believing that the oil price collapse is not having any major changes to the industry, consider the following: speculation is rife that oil giant BP could be a takeover target for ExxonMobil, something that would have been unlikely just a while ago. And in China, officials are hatching a plan to form mega-mergers among the big state oil companies there, partly to produce greater efficiencies at a time of low oil prices.