The future of the global oil and gas industry
While other industries are further along the agility curve, many oil and gas companies already have pockets of agility. One oil and gas company, for instance, took inspiration from the software-development world and used a “scrum” approach to simplify drilling standards from 1,000 pages to fewer than 100. Exchange-traded fund investors are piling into the U.S. oil and gas industry, despite the recent collapse in prices, partly on bets that the government may bail out producers as part of a stimulus Reflecting on this period of turmoil and transition, BDO’s Global Natural Resources team is looking towards the future to help oil & gas companies anticipate and plan for the challenges and opportunities ahead. We believe that to prepare for success in 2020 and beyond, oil & gas companies must strive to become “Lean, Green, Digital” machines. Overall, industry accounts for over 40% of growth in global gas demand to 2023, according to the IEA, followed by 26% for power generation. Major changes are also evident on the supply side, with the United States leading gas production growth worldwide to 2023, thanks to the on-going US shale revolution. The Biggest Trends & Challenges Facing the Oil & Gas Industry In an economy that produces somewhere in the region of $80 trillion of gross domestic product a year, oil and gas drilling make up somewhere between 2% and 3% of the global economy. Oil & Gas UK, an organisation representing the UK offshore oil and gas industry, recently published new guidelines for the use of unmanned aerial systems offshore. Expansion to centre on Asia Geographically, most oil jobs will remain in the current areas of the Middle East, the Gulf of Mexico, North America, Russia, the North Sea and parts of Asia.
Nov 24, 2016 Natural gas is likely to be the last fossil fuel to remain standing, Half of the Global Fortune 500's top ten listed companies produce oil, and
an upwards trend in crude oil prices; and ii) the constant increase in USA oil and gas production, which unlike the previous factor, mitigates increases and forces Are the changes introduced by upstream oil and gas companies sufficient? Oil and gas industry is a principal driver of the global economy, involving major May 1, 2019 This involves the search for underwater and underground natural gas fields or crude oil fields and the drilling of exploration wells and drilling into Fueled first by high natural gas and then oil prices, activity soared; and companies across the entire value chain enjoyed the boom in drilling and the resulting Nov 14, 2018 Forecasting global energy production and consumption through 2040, the IEA projects the U.S. will account for nearly 75 percent of global oil Feb 13, 2019 The oil and gas industry faced many ups and downs in 2018. Brent crude oil prices started out at approximately $66 per barrel, spiked to $86, Jun 10, 2015 For oil and gas exploration companies there is increasing pressure to understand driving forces within the market and to develop sustainable
The Biggest Trends & Challenges Facing the Oil & Gas Industry In an economy that produces somewhere in the region of $80 trillion of gross domestic product a year, oil and gas drilling make up somewhere between 2% and 3% of the global economy.
From weakening economic growth and intensifying trade tensions to global political risks, our 2020 oil and gas industry outlook takes stock of the main factors to
Reflecting on this period of turmoil and transition, BDO’s Global Natural Resources team is looking towards the future to help oil & gas companies anticipate and plan for the challenges and opportunities ahead. We believe that to prepare for success in 2020 and beyond, oil & gas companies must strive to become “Lean, Green, Digital” machines.
In the early days of 2017, it behooves oil and gas companies to reflect on the past, while making plans robust to an uncertain future outlook. A Close Relationship. According to the Institutional Investors Group on Climate Change (IIGCC), energy-related activities contribute to about 70% of global greenhouse gas (GHG) emissions. About 60% of those energy-related emissions are a result of oil and gas industry activities, mainly attributable to the dependence on fossil fuel production.
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Exchange-traded fund investors are piling into the U.S. oil and gas industry, despite the recent collapse in prices, partly on bets that the government may bail out producers as part of a stimulus
Aug 23, 2019 Although lower than normal, new global oil demand will still be over 1 million b/d I cover oil, gas, power, LNG markets, linking to human development. Now, with industry consolidation and more pipelines coming to the