The electric vehicle (EV) sector is undergoing rapid transformation, creating strategic shifts within the oil and gas industry. With 10.4 million battery-electric vehicles (BEVs) sold globally in 2024—accounting for 14% of new personal vehicle sales—industry players are under increasing pressure to adapt to changing market dynamics. This report explores how EVs are shaping the oil and gas landscape and the imperative for industry players to evolve their operational models. As governments in select market ...