Global Oil and Gas Industry Outlook, 2023

Description

Energy Transition, Decarbonization, Digitalization, and New Business Models Drive Industry Transformation

The global energy industry is undergoing an unprecedented transition, bringing exciting new growth opportunities to the oil and gas (O&G) industry. However, shifting to a net-zero future for carbon emissions means many companies face pricing, energy security, and industry disruption struggles.

As the industry moves to meet decarbonization and sustainability goals, Frost & Sullivan has identified five key pillars of opportunity for the energy transition: Carbon Capture, Utilization, and Storage (CCUS); Emissions Management; Automation, Autonomy, and Augmentation; Upstream Electrification; and Future Fuels. Meanwhile, the main challenge of today's O&G industry is balancing the transition to net zero while meeting the current demand for fossil fuels as efficiently and sustainably as possible.

The competitive landscape for the future O&G industry is also changing, driven by innovation, market transformation, ambitious sustainability goals, and disruptive business models.

The Frost & Sullivan oil and gas team specifically works to identify substantial transformative trends, innovations, and growth opportunities. This study provides a detailed evaluation of the main transformational trends and growth opportunities we expect to see shaping the O&G industry throughout 2023. The study period is 2022-2035, with 2022 as the base year and 2023-2035 as the forecast period.

Regions covered include:

North America: United States, Canada, and Mexico

Latin America: Brazil, Venezuela, Argentina, and Colombia

Europe: United Kingdom, France, Germany, Norway, Netherlands, and Belgium

Russia and Commonwealth of Independent States (CIS): Russia and Kazakhstan

Asia-Pacific: India, China, Malaysia, Singapore, Australia, and Japan

Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates (UAE), Oman, Qatar, Kuwait, Nigeria, Algeria, Egypt, Mozambique, Libya, and Angola

We cover three markets:

Upstream: Oil and gas, automation, digitalization, electrification

Midstream: Liquid natural gas (LNG)

Decarbonization: Emissions management, hydrogen, CCUS

Notably, the study offers stakeholders insights and opportunities they can leverage in the dynamic O&G space over the next decade.

Product Code: K8AD-14

Strategic Imperatives

Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Oil and Gas Industry
Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Environment

2022 Highlights of the Global Oil and Gas Industry
Top 7 Oil and Gas Predictions for 2023
2022 Key Performance Indicators
2023 Oil and Gas KPIs: Forecast
Trends and Events in Historical Prices for WTI and Brent
Global Average Rig Count vs Benchmark Crude Oil Prices
Global Oil and Gas Industry Upstream CAPEX

Research Scope and Segmentation

Project Scope

Global Oil and Gas Outlook

Market Trends
Trend 1: CCUS an Important Equation in Decarbonization
Growth Environment: CCUS Landscape in the Americas
Growth Environment: CCUS Landscape in Europe
Growth Environment: CCUS Landscape in APAC
Growth Environment: CCUS Landscape in MEA
CCUS Growth Opportunity Areas
Trend 2: Role of LNG in the Energy Spectrum
Progress on Developing Lower-emission LNG Technologies
Trend 3: Industrial Electrification as a Decarbonization Pathway
Trend 4: Rise of the Hydrogen Economy
Trend 5: Oil and Gas Automation
Trend 6: Emissions Management

Oil and Gas Upstream Segment Outlook

Top 8 Upstream Oil and Gas Predictions for 2023
Oil Production Forecast
Dry Gas Production Forecast
Oil and Gas Upstream CAPEX Investments

Regional Predictions 2023

2023 Oil and Gas Predictions: North America
2023 Oil and Gas Predictions: Latin America
2023 Oil and Gas Predictions: Europe
2023 Oil and Gas Predictions: MEA
2023 Oil and Gas Predictions: Asia-Pacific
2023 Oil and Gas Predictions: Russia and CIS

Growth Opportunity Universe

Growth Opportunity 1: Negative-emission Technologies for Achieving the Net-zero Target
Growth Opportunity 2: Modularization of CCUS Plants for Small Industries with Fewer CO2 Emissions
Growth Opportunity 3: CCUS Clusters and Hubs for Integrating Different Industrial Clusters
Growth Opportunity 4: Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe
Growth Opportunity 5: Increased DER and BESS Integration to Drive Electrification Technology Adoption
Growth Opportunity 6: Blending Blue Hydrogen in Existing NG Pipelines
Growth Opportunity 7: AI as a Tool to Achieve Sustainability
Growth Opportunity 8: Robotics for Subsea Automation
Growth Opportunity 9: IoT for Boosting Efficiency and Accuracy

Conclusions

Conclusions

Next Steps

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