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Global Oil and Gas Industry Outlook, 2023

Publisher Frost & Sullivan
Published Jul 31, 2023
SKU # MC18092039

Description

Global Oil and Gas Industry Outlook, 2023


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.

Table of Contents

    • 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
    • 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
    • Project Scope
    • 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
    • Top 8 Upstream Oil and Gas Predictions for 2023
    • Oil Production Forecast
    • Dry Gas Production Forecast
    • Oil and Gas Upstream CAPEX Investments
    • 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 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
    • Your Next Steps
    • Why Frost, Why Now?

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