Deep water ahead: The outlook for the oil and gas industry in 2011 is an Economist Intelligence Unit report that aims to provide a barometer for the industry from the point of view of top-level operators, including CEOs and other board-level executives and policymakers. The report is sponsored by GL Noble Denton.
In this inaugural barometer, we focused on investment prospects, the changing risk environment and the new industry dynamic, whereby international oil companies and national oil companies are redefining their relationships in developing conventional and unconventional hydrocarbons assets.
The Economist Intelligence Unit bears sole responsibility for the content of this report. Our editorial team executed the survey, conducted the interviews and wrote the report. The findings and views expressed do not necessarily reflect the views of the sponsor.
Our research drew on two main initiatives:
We conducted a global survey of senior executives during September and October 2010. In total, 194 executives took part, representing a cross-section of firms in the oil and gas industry. These executives were very senior: one in three respondents were CEOs or managing directors, while all hailed from management positions. They represented firms ranging in size from less than US$500m in revenue (39%) to more than US$5bn (35%).
To supplement the survey results, we also conducted in-depth interviews with numerous executives, including CEOs, divisional heads, senior lobbyists and policymakers.
James Gavin was the author of the report, and James Watson and Tony McAuley were the editors. Our thanks are due to all the interviewees and survey participants for their time and insight.