Transcription of 2022 oil and gas industry outlook - deloitte.com
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2022 oil and gas industry outlook - deloitte.com
2022 oil and gasindustry outlook 2022 oil and gas industry outlookOil and gas companies build momentum as they look to reinvent themselvesBy now, close to 50% of the world s population has received at least one dose of the COVID-19 Corporates are finalizing their return-to-office hybrid plans. Global GDP is expected to recover fully by the end of Oil demand, and thus mobility, is back to 95% of pre COVID-19 levels, and oil has escaped its corridor of uncertainty of $40 to $60/bbl without impeding the energy transition. Oil and natural gas (O&G) companies couldn t have asked for more. But O&G companies haven t sat still over the past year. Real change is occurring moving into 2022 as many companies look to reinvent themselves: Practicing capital discipline (global upstream capex is projected to increase by only 4% in 2021)3 Focusing on financial health (debt reduction of 4% in 2021) 4 Committing to climate change as more North American O&G companies join their European counterparts Transforming business models The positivity of such changes is reflected in our survey, where nearly two-thirds of O&G executives state that they are highly positive about the strategic changes made by their journey of transformation has just begun for the industry , and simply managing or riding oil pric
The survey captured insights from respondents in five specific industry groups: chemicals and specialty materials, engineering and construction, industrial products, oil and gas, and power and utilities. ... them thrive the most in the future.18 Suppliers already have an ... In bringing about fundamental transformation, partnerships,
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