Openess to External Innovation in Major Oil and Gas Companies

The journal Regional and Sectoral Economic Studies posted a research study whose objective was to study major oil and gas companies’ openness to external sources of innovation. The authors focused on the role of R&D investments in the R&D internationalization and the establishment of venture funds, the links between  regional business and regulatory specificities, innovation portfolio diversity and perception of external innovation. To do this, the authors examined the practices of 18 major oil and gas, oil service companies. The study confirmed that major oil and gas companies with higher R&D investments and diverse innovation portfolios were more likely to be open to external innovation and to engage in energy transition processes.

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