Rising competition, more price volatility. (Petroleum).(Brief Article)(Statistical Data...

Volatile oil price cycles and increasing competition will make astute application of technology a key determinant of success for the oil industry, according to Global Oil Trends 2002, an in-depth study prepared by Cambridge Energy Research Associates (CERA) and Sun Microsystems (http://www.sun.com). Companies will be under continuous pressure to improve their financial performance, even as the industry contends with revenue swings of a dramatic magnitude. Technology will be crucial in the drive to reduce costs and improve margins in both the upstream and the downstream markets. <