Against the accomplishments of ambiguity over oil prices and the all-around economy, beneath than bisected of respondents to DNV GL’s analysis apprehend added large, capital-intensive projects to be accustomed this year, bottomward from about two thirds aftermost year.
However, the anniversary analysis of added than 1,000 arch oil and gas professionals and admiral additionally showed a jump in expectations for college advance in areas that will accord companies a abiding position in the alteration to low-carbon energy.
Some 71% apprehend to access or advance advance in renewable energy, decarbonising oil and gas assembly and new low-carbon technologies, compared with 54% a year ago.
The analysis showed a dip in optimism over the sector’s all-embracing advance affairs this year, with two thirds of participants assured of growth, bottomward from 76% aftermost year.
Increased advance in hydrogen, meanwhile, was accepted by 42%, up from 20% in 2019.
Nearly bisected of respondents said their companies would still accomplish adequate profits if the oil amount were to boilerplate beneath than $50 a barrel. Brent awkward currently trades at about $65 a barrel.
Many respondents apprehend low oil and gas prices to prevail, while the amount of renewables is accepted to abide falling over the abutting 30 years, authoritative those activity sources more competitive, DNV said.
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