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INSIGHT REPORT
Energy Council 2024 Global Industry Survey Report
Published 11 April 2024
The Energy Council's annual Global Industry Survey Report 2024 is now available to download.
Over 500 people from across our network took part in this year's survey, and we have put together the report to uncover the macro picture of the industry today including oil price predictions, the energy trilemma, finance and investment plans and exploration updates.
From balancing the trilemma of transition, affordability and security to the most exciting transition technology initiatives today, the survey asked where your peers are prioritising CAPEX, what percentage of investors plan to invest in oil and/or gas projects over the next 3 years, whether the best returns are to be found in hydrocarbons or renewables, and which alternative energies oil & gas companies are exploring. Take a look at some of our key findings below.
60% of companies stated that exploration will play a key role in their 2024 business
This is down from 66% in our 2023 global survey report. Key regions of interest are West Africa, North America (excluding GoM), and South America.
Private Equity, Debt Financing and Institutional Lenders are the top 3 places to access capital for O&G companies
However, access to capital remains a challenge, with 27% of O&G companies citing it as their biggest inhibitor to growth.
Energy security remains the most pressing element of the energy trilemma
Energy affordaibility ranked second, while the energy transition came in third place. This is not necessarily reflected in the strategic priorities of these companies, where the transition remains a key focus.
If you have downloaded this report and you believe your company, service or product could help our senior upstream energy executives with some of the challenges they face in today’s environment, we would love to hear from you and see how you could be involved in our network.
The Energy Council is a global platform that facilitates connections between senior upstream energy executives and the finance, investment and technology community, in order to accelerate deals, mobilise capital, drive growth and innovation.
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