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Global Oil and Gas Outlook, 2022
Energy Transition, Decarbonization, Digitalization, and New Business Models Drive Industry Transformation
21-Jun-2022
Global
Market Outlook
K609-01-00-00-00
EN01325-GL-MO_26649
$4,950.00
Special Price $3,712.50 save 25 %
The oil and gas industry recovered strongly in 2021 after recording an all-time low in 2020 due to the COVID-19 pandemic. Oil prices in 2021 increased by 70.5% and reached a yearly average of $67.7 per barrel. Amid the geopolitical chaos and Russo-Ukrainian, the oil price rose to $117 per barrel in Q1 2022. Despite the better-than-expected recovery in the oil and gas industry, uncertainty still looms due to changes in market dynamics in the coming years. This outlook study addresses the global market dynamics and implications in regional hot spots. As we move toward the second half of 2022, we observe that oil and gas companies are very disciplined with their capital spending, focusing more on their financial health, investing in more sustainable businesses, and committing toward climate change and transforming their business models. We have identified 5 major trends representing key pillars for growth within the oil and gas industry in the medium to long term.
• With increased oil prices, companies will have additional funds to invest in decarbonization and green energy solutions, such as carbon capture,
utilization, and storage (CCUS).
• Liquefied Natural Gas (LNG) will play a significant role in the Oil and Gas Industry, driven by Europe’s urgent need for a quick natural gas supply.
United States will rise as the main LNG supplier to Europe.
• Electrification will play a growing role in industrial decarbonization, focusing mainly on oil and gas, cement, iron and steel, and chemicals
industries.
• Demand for low carbon hydrogen is forecast to reach 60 Mt by 2030, with a potential to reduce 700 Mt of CO2 annually.
• Digitalization technologies will underpin the energy transition within oil and gas companies. Automation technologies such as artificial
intelligence, robotics, and the internet of things will be implemented to increase energy efficiency.
Author: Mahesh Radhakrishnan
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Oil and Gas Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
2021 Highlights of the Global Oil and Gas Industry
Top 7 Oil and Gas Predictions for 2022
2021 Key Performance Indicators at a Glance
2022 Oil and Gas KPIs at a Glance—Forecast
Trends and Events in Historical Prices for WTI and Brent
Global Average Rig Count vs Benchmark Crude Oil Prices
Global Oil and Gas Industry Upstream CAPEX
Research Scope
Key Market Trends
Trend 1—CCUS an Important Equation in Decarbonization
Trend 1—CCUS an Important Equation in Decarbonization (continued)
Trend 1—CCUS an Important Equation in Decarbonization (continued)
Trend 1—CCUS an Important Equation in Decarbonization (continued)
Trend 1—CCUS an Important Equation in Decarbonization (continued)
Trend 1—CCUS an Important Equation in Decarbonization (continued)
Trend 2—Role of LNG in the Energy Spectrum
Trend 2—Role of LNG in the Energy Spectrum (continued)
Trend 3—Industrial Electrification as a Decarbonization Pathway
Trend 3—Industrial Electrification as a Decarbonization Pathway (continued)
Trend 3—Industrial Electrification as a Decarbonization Pathway (continued)
Trend 4—Rise of the Hydrogen Economy
Trend 5—Oil and Gas Automation
Trend 5—Oil and Gas Automation (continued)
Trend 5—Oil and Gas Automation (continued)
Top 8 Upstream Oil and Gas Predictions for 2022
Oil Production Forecast
Gas Production Forecast
Oil and Gas Upstream CAPEX Investments
2022 Oil and Gas Predictions—North America
2022 Oil and Gas Predictions—Latin America
2022 Oil and Gas Predictions—Europe
2022 Oil and Gas Predictions—Middle East And Africa
2022 Oil and Gas Predictions—Asia-Pacific
2022 Oil and Gas Predictions—Russia and CIS
Growth Opportunity 1—Modularization of CCUS Plants for Small Industries with Less CO2 Emissions
Growth Opportunity 1—Modularization of CCUS Plants for Small Industries with Less CO2 Emissions (continued)
Growth Opportunity 2—CCUS Clusters and Hubs for Integrating Different Industrial Clusters
Growth Opportunity 2—CCUS Clusters and Hubs for Integrating Different Industrial Clusters (continued)
Growth Opportunity 3—Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe
Growth Opportunity 3—Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe (continued)
Growth Opportunity 4—Increased DER and BESS Integration to Drive Electrification Technology Adoption
Growth Opportunity 4—Increased DER and BESS Integration to Drive Electrification Technology Adoption (continued)
Growth Opportunity 5—Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions
Growth Opportunity 5—Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions (continued)
Growth Opportunity 6—AI as a Tool to Achieve Sustainability
Growth Opportunity 6—AI as a Tool to Achieve Sustainability (continued)
Growth Opportunity 7—Robotics for the Upstream Sector
Growth Opportunity 7—Robotics for the Upstream Sector (continued)
Growth Opportunity 8—IoT to Boost Efficiency
Growth Opportunity 8—IoT to Boost Efficiency (continued)
Key Conclusions
Abbreviations and Acronyms
References
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Oil and Gas: Global Highlights, FY 2021
- Oil and Gas Industry: Benchmark Oil Price Forecast, Global, FY 2018–2022
- Oil and Gas Industry: Rig Count vs Benchmark Crude Oil Price, Global, FY 2021–March 2022
- Oil and Gas Industry: Global Upstream CAPEX, FY 2017–2022
- CCUS: Capture Revenue Forecast, Global, 2021, 2025, and 2030
- CCUS: Percentage Revenue Share by Region, 2021
- CCUS: Percentage Revenue Share by Region, 2030
- CCUS: Cumulative Carbon Capture Capacity in million tons per annum (MTPA), Percentage Share by Industry, Global 2021
- CCUS: Cumulative Carbon Capture Capacity in MTPA, Percentage Share by Industry, Global 2030
- CCUS: Percent Revenue by End-user Industries, Americas, 2021, 2025, and 2030
- CCUS: Percent Revenue by End-user Industries, Europe, 2021, 2025, and 2030
- CCUS: Percent Revenue by End-user Industries, Asia-Pacific, 2021, 2025, and 2030
- CCUS: Percent of Revenue by End-user Industries, Middle East and Africa, 2025 and 2030
- LNG: Export Capacity Forecast, Global 2021, 2025, 2030
- LNG: Import Capacity Forecast, Global 2021, 2025, 2030
- LNG: Export Capacity Percentage Share by Region, 2021
- LNG: Export Capacity Percentage Share by Region, 2030
- LNG: Import Capacity Percentage Share by Region, 2021
- LNG: Import Capacity Percentage Share by Region, 2030
- Industrial Electrification: Share of Global CO2 Emissions, 2021
- Industrial Electrification: Share of Global CO2 Emissions by Subsegment, 2021
- Industrial Electrification: Main Enablers of Electrification, Global, 2021
- Hydrogen: Global Hydrogen Demand by Sector, 2020, 2025, 2030
- Hydrogen: Global Hydrogen Demand by Production Technology, 2020, 2025, 2030
- Robotics in Oil and Gas: Global Revenue Forecast, 2021, 2025, 2030
- Robotics in Oil and Gas: Percentage Revenue Share by Region, Global, 2021
- Robotics Market in Oil and Gas: Percentage Revenue Share by Region, Global, 2030
- AI in Oil and Gas: Global Revenue Forecast, 2021–2030
- AI in Oil and Gas: Percentage Revenue Share by Region, Global, 2021
- AI in Oil and Gas: Percentage Revenue Share by Region, Global, 2030
- IoT in Oil and Gas: Global Revenue Forecast, 2021–2030
- IoT in Oil and Gas: Percentage Revenue Share by Region, Global, 2021
- IoT in Oil and Gas: Percentage Revenue Share by Region, Global, 2030
- Oil and Gas: Oil Production Forecast, Global, 2021–2030
- Oil and Gas: Oil Production Percentage Share by Region, Global, 2021
- Oil and Gas: Oil Production Percentage Share by Region, Global, 2030
- Oil and Gas: Gas Production Forecast, Global, 2021–2030
- Oil and Gas: Gas Production Percentage Share by Region, Global, 2021
- Oil and Gas: Gas Production Percentage Share by Region, Global, 2030
- Oil and Gas: Upstream CAPEX Forecast, Global, 2021–2030
- Oil and Gas: Upstream CAPEX Percentage Share by Region, Global, 2021
- Oil and Gas: Upstream CAPEX Percentage Share by Region, Global, 2030
- Oil and Gas: Oil Production Forecast, North America, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, North America, 2022, 2025, and 2030
- Oil and Gas: Oil Production Forecast, Latin America, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, Latin America, 2022, 2025, and 2030
- Oil and Gas: Oil Production Forecast, Europe, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, Europe, 2022, 2025, and 2030
- Oil and Gas: Oil Production Forecast, Middle East and Africa, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, Middle East and Africa, 2022, 2025, and 2030
- Oil and Gas: Oil Production Forecast, Asia-Pacific, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, Asia-Pacific, 2022, 2025, and 2030
- Oil and Gas: Oil Production Forecast, Russia and CIS, 2022, 2025, and 2030
- Oil and Gas: Gas Production Forecast, Russia and CIS, 2022, 2025, and 2030
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| Deliverable Type | Market Outlook |
|---|---|
| Author | Mahesh Radhakrishnan |
| Industries | Environment |
| No Index | No |
| Is Prebook | No |
| List of Charts and Figures | Oil and Gas: Global Highlights, FY 2021~ Oil and Gas Industry: Benchmark Oil Price Forecast, Global, FY 2018–2022~ Oil and Gas Industry: Rig Count vs Benchmark Crude Oil Price, Global, FY 2021–March 2022~ Oil and Gas Industry: Global Upstream CAPEX, FY 2017–2022~ CCUS: Capture Revenue Forecast, Global, 2021, 2025, and 2030~ CCUS: Percentage Revenue Share by Region, 2021~ CCUS: Percentage Revenue Share by Region, 2030~ CCUS: Cumulative Carbon Capture Capacity in million tons per annum (MTPA), Percentage Share by Industry, Global 2021~ CCUS: Cumulative Carbon Capture Capacity in MTPA, Percentage Share by Industry, Global 2030~ CCUS: Percent Revenue by End-user Industries, Americas, 2021, 2025, and 2030~ CCUS: Percent Revenue by End-user Industries, Europe, 2021, 2025, and 2030~ CCUS: Percent Revenue by End-user Industries, Asia-Pacific, 2021, 2025, and 2030~ CCUS: Percent of Revenue by End-user Industries, Middle East and Africa, 2025 and 2030~ LNG: Export Capacity Forecast, Global 2021, 2025, 2030~ LNG: Import Capacity Forecast, Global 2021, 2025, 2030~ LNG: Export Capacity Percentage Share by Region, 2021~ LNG: Export Capacity Percentage Share by Region, 2030~ LNG: Import Capacity Percentage Share by Region, 2021~ LNG: Import Capacity Percentage Share by Region, 2030~ Industrial Electrification: Share of Global CO2 Emissions, 2021~ Industrial Electrification: Share of Global CO2 Emissions by Subsegment, 2021~ Industrial Electrification: Main Enablers of Electrification, Global, 2021~ Hydrogen: Global Hydrogen Demand by Sector, 2020, 2025, 2030~ Hydrogen: Global Hydrogen Demand by Production Technology, 2020, 2025, 2030~ Robotics in Oil and Gas: Global Revenue Forecast, 2021, 2025, 2030~ Robotics in Oil and Gas: Percentage Revenue Share by Region, Global, 2021~ Robotics Market in Oil and Gas: Percentage Revenue Share by Region, Global, 2030~ AI in Oil and Gas: Global Revenue Forecast, 2021–2030~ AI in Oil and Gas: Percentage Revenue Share by Region, Global, 2021~ AI in Oil and Gas: Percentage Revenue Share by Region, Global, 2030~ IoT in Oil and Gas: Global Revenue Forecast, 2021–2030~ IoT in Oil and Gas: Percentage Revenue Share by Region, Global, 2021~ IoT in Oil and Gas: Percentage Revenue Share by Region, Global, 2030~ Oil and Gas: Oil Production Forecast, Global, 2021–2030~ Oil and Gas: Oil Production Percentage Share by Region, Global, 2021~ Oil and Gas: Oil Production Percentage Share by Region, Global, 2030~ Oil and Gas: Gas Production Forecast, Global, 2021–2030~ Oil and Gas: Gas Production Percentage Share by Region, Global, 2021~ Oil and Gas: Gas Production Percentage Share by Region, Global, 2030~ Oil and Gas: Upstream CAPEX Forecast, Global, 2021–2030~ Oil and Gas: Upstream CAPEX Percentage Share by Region, Global, 2021~ Oil and Gas: Upstream CAPEX Percentage Share by Region, Global, 2030~ Oil and Gas: Oil Production Forecast, North America, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, North America, 2022, 2025, and 2030~ Oil and Gas: Oil Production Forecast, Latin America, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, Latin America, 2022, 2025, and 2030~ Oil and Gas: Oil Production Forecast, Europe, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, Europe, 2022, 2025, and 2030~ Oil and Gas: Oil Production Forecast, Middle East and Africa, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, Middle East and Africa, 2022, 2025, and 2030~ Oil and Gas: Oil Production Forecast, Asia-Pacific, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, Asia-Pacific, 2022, 2025, and 2030~ Oil and Gas: Oil Production Forecast, Russia and CIS, 2022, 2025, and 2030~ Oil and Gas: Gas Production Forecast, Russia and CIS, 2022, 2025, and 2030~ |
| Podcast | No |
| WIP Number | K609-01-00-00-00 |