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The focus on survival that followed the rapid decline in oil prices in mid-2014 is gradually giving way to a re-examination of growth strategies for both International Oil Companies (IOCs) and National Oil Companies (NOCs). How will IOCs seek to differentiate themselves from their peers in the lower price environment anticipated over the medium-term? Which strategies are robust and which are likely to fail? How have NOCs been impacted? Which companies hold relative advantages, which companies are facing deepening challenges and how are they likely to react?
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