Capital expenditure of O&G expects an increase by 7%

08 January 2018

The global oil and gas industry is reinventing itself in search of an optimal trajectory into a sustainable future. According to Barclays' latest E&P Spending Survey, the capital expenditure of the oil and gas sector is expected to increase by as much as 7%.


Source: Google

The gas segment is definitely going to be in a sweet spot for a long time. LNG prices are quite attractive and natural gas, with a low ecological footprint, is gaining a bigger share in the changing energy mix.

The refining sector is facing another dilemma. With changing product demand and likely projections for the future, a clear emerging trend is that the refineries of the future would be large and flexibly configured, with integrated chemicals and petrochemicals plants.

The oil and gas sector must help catalyse the sustainable evolution of the energy sector. Its own longevity and profitability depends on its adaptability and its flexibility to integrate other forms of energy as complementaries and not adversaries.

India remains one of the fastest growing major economies in the world and has emerged as the third largest consumer of petroleum products, after US and China.

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