Transforming Through Uncertainty

As the global energy industry continues to balance competing priorities amidst turbulence, our latest study reveals a resilient optimism, despite prevailing caution. In our latest survey, 73% of senior energy professionals express confidence in the industry's growth trajectory for this year, a figure that has remained remarkably steady at around 74% since 2022. At the same time, we see that nearly two-thirds of the energy sector view global political uncertainty as the primary threat to success in 2024, which marks a record year for elections with over two billion people heading to the polls globally.

Our study also unveils a complex landscape with shifting dynamics in specific sectors. Rising costs and supply chain disruptions are threatening the viability of many projects, dampening short-term optimism for electrification and renewables. The oil and gas sector, in contrast, is witnessing a resurgence in confidence, reflecting the industry's pivotal role in meeting global energy demand while navigating the transition to cleaner fuels. At the same time, we see a fall in optimism about organizational decarbonization targets among survey respondents, with the majority (62%) believing that financial costs are the greatest barrier to reaching the goals of the Paris Agreement.   

DNV’s global report Transforming Through Uncertainty draws on our survey of almost 1,300 senior energy professionals and in-depth interviews with industry leaders, from across power, renewables, oil and gas, and energy-consuming industries.

For more than a decade, DNV’s Energy Industry Insights studies have informed discussions, inspired ideas, and supported the energy industry in its strategic planning.