By Marcus Leach
Despite continued economic uncertainty, the outlook for the oil and gas industry
has improved since last year and investment intentions have
strengthened significantly, according to a new industry survey conducted
by the Economist Intelligence Unit (EIU).
Big Spenders: the outlook for the oil and gas industry in 2012
is the EIU’s second annual industry barometer. The survey asked nearly
200 oil and gas executives for their views about industry trends over
the next 12 months.
Key findings from the research, which was commissioned by GL Noble Denton, are as follows:
Industry optimism is high and rising: the share of industry
executives describing themselves as either highly or somewhat confident
about the next 12 months has risen from 76% last year to 82% this year.
Industry confidence varies significantly between regions: In
North America 90% of respondents describe themselves as highly or
somewhat confident about the next 12 months; in Asia-Pacific the figure
falls to 81%; and in Europe it drops to 70%.
intentions are significantly stronger than last year: reflecting rising
optimism about the future, 63% of executives worldwide say they plan to
invest either somewhat more or substantially more over the next 12
months. That number is up from 49% on last year.
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