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Thematic Intelligence: Top 20 Oil & Gas Themes 2024

Publisher GlobalData
Published Feb 27, 2024
Length 63 Pages
SKU # GBDT18640225

Description

Thematic Intelligence: Top 20 Oil & Gas Themes 2024


Summary

In this report, we identify the top 20 themes that will impact the oil and gas industry in 2024. For each theme, we offer a series of predictions, identify winners, and point you to further reading. We classify these 20 themes into four categories: macroeconomic themes, ESG themes, industry themes, and technology themes. In the following pages, we rank them in order of importance, with geopolitics as the highest priority theme for the oil and gas industry in 2024.

Scope

We classify these 20 themes into four categories: macroeconomic themes, ESG themes, industry themes, and technology themes. In the following pages, we rank them in order of importance, with geopolitics as the highest priority theme for the oil and gas industry in 2024.

Reasons to Buy

Our research shows that companies who invest in the right themes become success stories; those who miss the big themes ultimately fail. Given that so many themes are disruptive, it is very easy to be blindsided by industry outsiders invading your sector.

So, to help our clients gain a competitive advantage, we have developed GlobalData’s thematic research ecosystem, a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors.

Table of Contents

63 Pages
Executive Summary
Top Themes for 2024
Viewing the world’s data by theme helps you make important decisions
Geopolitics
Geopolitical issues are likely to continue weighing on global oil & gas operations
Efforts to move away from fossil fuels could be slow
The OPEC cartel is likely to regain centerstage in an increasingly bipolar world
Winners
Further reading
Supply Chain
Energy security concerns are expected to influence oil & gas trade flows in 2024
Global supply chains are likely to remain fragile
Supply chains might increase their reliance on automation
Winners
Further reading
ESG – Environment
Profitability remains critical for financing decarbonization projects in oil and gas
Consistency in government decisions essential for stable investment flows
More work needs to be done in the reporting of Scope 3 emissions
Winners
Further reading
ESG – Social
Attacks on energy infrastructure could raise issues over worker safety
Growing ESG importance giving fillip to job creation in the oil and gas industry
Technological advancements are pivotal in transforming safety in oil & gas
Winners
Further reading
Energy Transition
Major economies likely to continue pursuing energy transition
Climate change-related regulations could take a backseat in 2024
Oil majors could try and capitalize on strong oil demand in the short term
Winners
Further reading
Renewable Energy
Oil and gas investments in renewable energy could slow down in 2024
Supply chains for renewable energy could be under stress
Advances in AI could help improve renewable energy projects
Winners
Further reading
Hydrogen
Hydrogen capacity anticipated to increase at a healthy rate in 2024 and beyond
Growing awareness about hydrogen could pave the way for its wider adoption
Focus on technology development essential to enable the hydrogen economy
Winners
Further reading
Carbon Capture and Storage
The oil and gas industry expected to continue investing in carbon capture projects
Government support would facilitate investments in carbon capture
Efforts to reduce capture costs likely to gain emphasis
Winners
Further reading
Energy Storage
Energy storage capacity is anticipated to continue rising exponentially
Grid-scale storage could play an increasing role in power distribution
Digital technologies could help optimize energy storage systems
Winners
Further reading
Electric Vehicles
The EV market is likely to continue growing in 2024
Oil and gas players might expand their footprint in EV charging
China’s dominance in the EV market is anticipated to continue
Winners
Further reading
Liquefied Natural Gas
Geopolitical upheavals could influence the LNG industry's outlook
Promising gas demand outlook likely to promote LNG capacity growth
LNG to continue supporting global decarbonization goals in the medium term
Winners
Further reading
Shale
Industry consolidation might continue in the US shale industry
Shale oil and gas production could reach record levels in 2024
ESG goals may suffer as drillers capitalize on rising demand
Winners
Further reading
Integrated Refineries
Global integrated refinery capacity growth may continue at a steady pace
Strong petrochemical demand could prove beneficial for integrated refineries
Integrated refiners need to pay attention to long-term sustainability
Winners
Further reading
Artificial Intelligence
The AI market for the energy sector is expected to grow rapidly
AI could support net-zero ambitions in the oil and gas industry
AI may gain more prominence in undertaking operational decisions
Winners
Further reading
Blockchain
Blockchain could form an important backbone in global energy transition efforts
Blockchain could boost reliability in oil and gas trade agreements
The slow pace of blockchain regulations anticipated to remain a major hindrance
Winners
Further reading
Cloud Computing
Cloud computing might play an increasing role in oil and gas operations
Cloud computing could enhance the utility of other digital technologies
Edge computing to become a viable option as cloud adoption increases
Winners
Further reading
Cybersecurity
Oil and gas companies likely to focus on upskilling the cybersecurity workforce
Generative AI may pose a wider threat to oil and gas operations
Stronger cybersecurity regulations are needed to counter threats to industries
Winners
Further reading
Internet of Things
Technology development expected to spur IoT adoption in oil and gas
Wearables could transform IoT use cases
Improved ESG performance expected through IoT deployment
Winners
Further reading
Robotics
Robotics likely to continue to drive automation in the oil and gas industry
Drone-based applications are expected to attract considerable interest
AI might enhance robotic capabilities in field applications
Winners
Further reading
The Metaverse
Metaverse adoption in the oil and gas industry could be slow in 2024
The metaverse may shape the future of work practices in the oil and gas industry
The development of a regulatory framework for metaverse might be delayed
Winners
Further reading
Glossary
Data Sources
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Glossary
Table 2: GlobalData database
Table 3: GlobalData reports
List of Figures
Figure 1: The biggest themes driving growth in the oil & gas industry in 2024
Figure 2: Geopolitics
Figure 3: Supply Chain
Figure 4: ESG – Environment
Figure 5: ESG – Social
Figure 6: Energy Transition
Figure 7: Renewable Energy
Figure 8: Hydrogen
Figure 9: Carbon Capture and Storage
Figure 10: Energy Storage
Figure 11: Electric Vehicles
Figure 12: Liquefied Natural Gas
Figure 13: Shale
Figure 14: Integrated Refineries
Figure 15: Artificial Intelligence
Figure 16: Blockchain
Figure 17: Cloud Computing
Figure 18: Cybersecurity
Figure 19: Internet of Things
Figure 20: Robotics
Figure 21: The Metaverse
Figure 22: Our five-step approach for generating a sector scorecard

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