Global Oil and Gas Survey Reports for 2012 - 2013 - Buyers Predict More Capital Spending, North American Companies Most Optimistic On Revenue Growth
16 Apr, 2012, 03:30 ET
DALLAS, April 16, 2012 /PRNewswire/ --
ReportsnReports adds two new market research reports on Oil and Gas Industry to its store. These are Survey reports for 2012 - 2013 with a focus on Buyer Spend, Procurement Strategies, Marketing Spend and Sales Strategies along with global market trends.
A. Global Oil and Gas Survey 2012-2013: Market Trends, Buyer Spend and Procurement Strategies in the Global Oil and Gas Industry
An analysis of responses by upstream oil and gas companies reveals that 'new product development', 'machinery and equipment purchase', and 'IT infrastructure development' will record a significant increase in capital expenditure over the next 12 months.
Emphasis on product development expected
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'.
Increased investment in IT infrastructure predicted
54% of respondents project an increase in investment toward 'IT infrastructure development', with an increasing focus on the reduction of carbon emissions and protection of the environment. For example, in February 2012, Azerbaijan International Operating Company, a consortium of 10 principal oil companies, assigned a contract to Emerson Process Management, a supplier of process automation services and technologies based in the US, to computerize a new offshore platform in the Azerbaijan sector of the Caspian Sea.
Suppliers plan to increase spending on 'machinery and equipment purchase
Global oil and gas industry suppliers plan to increase capital expenditure on 'machinery and equipment purchase' over the next 12 months. For example, in February 2012, Lux Assure, a developer of novel detection technologies for the oil and gas sector based in the UK, introduced a new chemical detection kit, which determines the concentration of methanol or monoethylene glycol (MEG) in oil and water.
Mixed responses on staff recruitment
According to 38% of respondents from upstream oil and gas companies, and 48% from downstream and midstream oil and gas companies, headcounts in their organizations in 2012 are expected to increase steadily by up to 2%. However, 19% of respondents from upstream oil and gas companies and 24% from downstream and midstream oil and gas companies anticipate 'no change' in recruitment activity in 2012, which indicates that slow economic development in developed countries and market uncertainty could reduce recruitment activity.
Read More, Request a Sample or Buy your copy of this oil & gas industry report on buyer spend and procurement strategies @ http://www.reportsnreports.com/reports/156609-global-oil-and-gas-survey-2012-2013-market-trends-buyer-spend-and-procurement-strategies-in-the-global-oil-and-gas-industry.html.
B. Global Oil and Gas Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies in the Global Oil and Gas Industry
Conferences and events', 'email and newsletters' and 'corporate and brand websites' to dominate future investment
Conferences and events', 'email and newsletters' and 'corporate and brand websites' are expected to register the highest investment, as identified by 39%, 37% and 37% of respective respondents. Conversely, 'radio', 'television and video' and 'newspaper' advertisement are expected to attract the least investment.
Customer retention', 'customer acquisition' and 'brand building or awareness' dominate key marketing aims of suppliers for 2012-2013
Customer retention', 'customer acquisition' and 'brand building or awareness' are identified as key marketing aims for global oil and gas industry suppliers, with 61%, 40% and 38% of industry respondents respectively expressing that these were very important aims. The most significant strategy that suppliers plan to employ in 2012 is to 'focus sales efforts on generating new business' and to 'focus sales efforts on existing markets' as identified by 61% and 45% of respondents respectively.
Use of natural gas in commercial vehicles and industrial use is further driving up investment in storage infrastructure for refined petroleum products global refining capacity
The use of natural gas in commercial vehicles and industrial use is further driving up investment in storage infrastructure for refined petroleum products such as compressed natural gas (CNG) and liquefied natural gas (LPG). Companies are focusing on increasing their revenue generation by means of adding their refining and storage capacities with much of the global refining capacity additions coming into play within Asia.
The optimism level in the upstream oil and gas sector is expected to be fuelled by improved cash flows and credit metrics
The optimism level in the upstream oil and gas sector is expected to be fuelled by improved cash flows and credit metrics as a result of higher oil prices. In the case of the downstream and midstream oil and gas sector, contract backlogs and the rise in oil prices are expected to provide the required support to activity levels and credit profiles of companies operating in the sector.
North American companies most optimistic on revenue growth
Of all respondents, 69% from companies with operations in North America are optimistic about revenue growth over the next 12 months, as compared with 53% of respective respondents from Europe and the Rest of the World and 52% from Asia-Pacific. The credit worthiness of large integrated upstream oil and gas companies is set to improve in North America, driven by their oil-heavy upstream portfolios, sizable cash balances and reasonably low net debt levels.
Read More, Request a Sample or Buy your copy of this oil & gas market report on marketing spend and sales strategies @ http://www.reportsnreports.com/reports/156610-global-oil-and-gas-survey-2012-2013-market-trends-marketing-spend-and-sales-strategies-in-the-global-oil-and-gas-industry.html.
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