How to remain profitable in a low oil prices environment

Oil prices have shown a steep and protracted decline since 2014, reducing margins and forcing the industry to restructure and reinvent itself to sustain operations and investment levels. Between January 2014 and June 2016, cutbacks in CAPEX budgets for oil and gas exploration and production of large Latin American companies plunged about a 30%. Within this scenario, ARPEL organized the workshop "How to remain profitable in an environment of low oil prices", which brought together professionals from 17 companies, in Lima, PERU, on November 11, 2016 in order to exchange and discuss different alternatives that companies have adopted to operate in a new price scenario. The workshop's conclusions are summarized in this report.