Thursday, 19 April 2012

Global Oil and Gas Survey 2012–2013: Market Trends, Buyer Spend and Procurement Strategies in the Global Oil and Gas Industry

London, April 19, 2012 – Across the global oil and gas industry, 57% of survey respondents are more optimistic of revenue growth for their company over the next 12 months. Furthermore, 26% are neutral about revenue growth, while 15% of respondents are less optimistic about their company’s revenue prospects.
This is due either to a strong belief in an end to the global economic upheaval, or to successful steps being taken by companies to increase revenues and reduce costs. The emergence of new profitable markets and decreased concerns about the Greek debt crisis are other key reasons for the rise of optimism within the global oil and gas industry.

Middle East, China, and Brazil are the most important emerging markets in the global oil and gas industry

Global oil and gas industry respondents identify the Middle East to be the most important region for growth among emerging markets, along with China and Brazil. Furthermore, Brazil and the Middle East are considered the two most important emerging markets by respondents from upstream oil and gas companies, with strong economic growth in both areas, along with high demand for oil and gas, rendering them attractive to foreign investors.

Average annual procurement budget of global oil and gas industry buyers is expected to increase in 2012

The average size of the global annual procurement budget among oil and gas industry buyers is forecast at US$125.6 million for 2012. A comparison of global procurement budgets by operating region shows that global oil and gas industry buyers with leading operations in the Rest of the World have the highest average procurement budgets in 2012, at US$170.2 million.

‘Market uncertainty’, ‘rising competition’, and ‘retention or recruitment of skilled staff’ remain the leading business concerns for the global oil and gas industry in 2012

According to the survey, 46% of global oil and gas industry respondents rate ‘market uncertainty’ as the most important business concern during 2012-2013, while 38% rate ‘rising competition’ as the most important, followed by another 36% rating ‘retention or recruitment of skilled staff’ as a chief concern. Respondents from global oil and gas industry companies, regardless of size, consider ‘market uncertainty’ and ‘rising competition’ as the important leading business concerns.

Optimism in oil and gas sector fuelled by improved cash flows and credit metrics

The optimism level in the upstream oil and gas sector is expected to be fuelled by improved cash flows and credit metrics as a result of higher oil prices. In the case of downstream and midstream companies, contract backlogs and the rise in oil prices are expected to provide the required support to activity levels and credit profiles of companies operating in the sector.

About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.

We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.

The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.

With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.

For more information, please visit our website at

For more information on the article, please contact:

Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671

No comments:

Post a Comment