Global oil and gas industry respondents identify the Middle East to be the most important region for growth among emerging markets, along with China and Brazil.
Furthermore, Brazil and the Middle East are considered the two most important emerging markets by respondents from upstream oil and gas companies, with strong economic growth in both areas, along with high demand for oil and gas, rendering them attractive to foreign investors.
Across the global oil and gas industry, 57% of respondents are more optimistic of revenue growth for their company over the next 12 months. Furthermore, 26% are neutral about revenue growth, while 15% of respondents are less optimistic about their company’s revenue prospects.
As global oil and gas demand is projected to increase in the next 12 months, upstream oil and gas companies plan to significantly increase their capital expenditure toward ‘new product development’ and ‘machinery and equipment purchase’.
Reasons to buy
• The report is based on primary survey research conducted by ICD Research accessing its B2B panels comprised of senior purchase decision makers and leading supplier organizations.
• It not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities.
• The report uncovers the business outlook, forecast of buyer expenditure activity, key challenges and opportunities and procurement behaviors and strategies.
• It promotes your business by aligning your capabilities and business practices with your customer’s changing needs.Global oil and gas industry respondents identify the Middle East to be the most important region for growth among emerging markets, along with China and Brazil.