Oil and gas companies are seeking to rebalance their business portfolios and reorganize to secure sustainable growth, according to a new industry benchmark study from DNV GL. Diversification, consolidation and ongoing cost efficiency measures will be hallmarks of 2017, as almost half (49%) of senior industry professionals expect their businesses to diversify into, or invest more in, opportunities outside of oil and gas.
This signals a step-change in the reshaping of the sector, and it demonstrates the industry’s ability to adapt and build a more robust, diverse and sustainable energy future.
Short-term agility, long-term resilience is DNV GL’s seventh annual research report on the outlook for the oil and gas industry. It provides a snapshot of industry confidence, priorities and concerns for the year ahead, drawing on a survey of 723 senior sector players in addition to in-depth interviews with industry experts.