Global "super-majors": decline or updating of the business-model
The paper analyzes influence of modern structural shifts, now taking place in the global oil and gas industry on position of its leading global players, the so-called "super-majors" that until the early 1970s of the last century were able to maintain their absolute dominance in the industry, based primarily on the direct control of hydrocarbons major sources. The author of the present paper concludes that despite all the negative trends that mostly undermined the "super-majors’" position in recent years, they managed to successfully adjust those elements of their business model, which didn’t work in the changed circumstances any longer. Contrary to numerous predictions of their imminent decline "super-majors" demonstrated a rare vitality and their streamlined business-model continues to play a key role in ensuring sustainable operation of the entire global chain of hydrocarbons delivery to consumers worldwide. The main elements of "super-majors’" updated business-model, consisting of the whole arsenal of unconventional competitive advantages based on the so-called intangible assets associated with the expertise, managerial skills, industrial and corporate culture are presented.