Dallas, TX -- (ReleaseWire) -- 02/27/2014 -- This report is the result of an extensive survey drawn from Kable's exclusive panel of leading global oil and gas industry executives. The report analyzes current economic conditions prevailing across the globe and their impact on the oil and gas industry, and forecasts company and industry growth prospects over the next six months. Furthermore, it provides information about the impact of customer confidence, supplier prices, staff headcount, and procurement budget and expenditure likely to affect the investment decisions of the industry over the next six months. Additionally, this report tracks the change in executives' perceptions during the last three months, by providing a comparative analysis of survey results with the previous quarter.
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Key Features and Benefits
Project industry trends and industry growth expectations in the next six months, and understand business confidence to make informed business decisions.
The report drives revenues by understanding future product investment areas and key growth regions.
Readers will be provided with a clear uncovering of key challenges and opportunities, and identify the key priorities likely to affect growth prospects of the industry.
The report clearly forecasts the change in supplier prices for various products and procurement budgets of oil and gas companies which are likely to influence the industry's growth prospects over the next six months.
Identifies the major changes in customer confidence levels in the oil and gas industry over the next six months.
Key Market Issues
According to oil and gas industry respondents, the present economic conditions in Africa and East Europe are deemed to be unfavorable. In the Q4 2013 survey, West Europe was highlighted as the most unfavorable.
New government proposals/legislation and the state of the global economy are the key concerns among global oil and gas industry executives.
Survey respondents forecast that supplier prices for power and energy will increase at an average of 4%, with those from North America expecting the biggest rise.
In total, 40% of global oil and gas industry executives anticipate either 'no change' or a 'negative change' in customer confidence over the industry, in the next six months.
Industry executives exhibit lower levels of optimism towards both company and industry growth prospects for the next six months compared to last quarter.
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Of respondents, 64% anticipate a positive change in the global economic outlook over the next six months. In comparison to the previous quarter, the percentage of respondents who expect a positive change has increased slightly.
Oil and gas industry executives plan to increase investments in the areas of IT and research and analysis in the next six months.
Oil and gas executives from North America anticipate the highest increase in both staff head count and sales, at an average of 4% and 6.2% respectively, over the next six months. Executives from the Rest of the World expect the smallest increase in staff head count and sales at an average of 2.6% and 3.5% respectively, in the next six months.
Companies plan to spend more on services, and equipment and machinery in 2014, with the highest spend of the services budget going towards construction and engineering services, and consulting and training services.
Executives operating across the globe consider 'increasing sales', 'improving operational efficiency', 'protecting and growing market share', and 'customer retention' as key priorities over the next six months.
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