Spalcke's conviction that Philips needs to reform its procurement practices is driven by a recognition of how intense the cost-containment drive is at Asian companies like Huawei, and how great the competitive threat is. In each of its three sectors, he says, the company needs to combine innovation with cost leadership, and it must embrace that philosophy quickly. "You cannot bank on having innovation fix deficiencies in cost competitiveness.
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Gorgon, a massive liquefied natural gas project off the north-west coast of Australia, is one of the wonders of the modern age. Its $54bn price tag makes it — in nominal terms at least — one of the most expensive engineering projects ever completed.
Russias Gazprom plans to reclaim its share of Europes gas market using ‘greater flexibility in export contracts. The state-owned energy giant aims to reduce the price gap between its oil-linked pricing, according to experts
Even casual observers know oil is exerting uncommon influence on stocks. What’s less clear is how the energy market has come to dominate sentiment in industries with seemingly no connection to crude prices.
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