The outlook for the oil and gas industry in 2021

About the research

Turmoil and Transformation is an industry benchmark study on the outlook for the oil and gas industry in 2021.

About the research

  • 1,010 senior oil and gas professionals surveyed
  • 79 countries represented
  • Respondents from across the oil and gas value chain 
  • Insight from interviews with 12 business leaders and experts
  • The latest findings from an 11-year research programme.

Assessing industry sentiment, confidence, and priorities

The report assesses industry sentiment, confidence, and priorities, and provides expert analysis of the key challenges and opportunities facing the industry in the year ahead. It is based on a global survey of over 1,000 senior industry professionals and executives, along with in-depth interviews with a range of experts, business leaders, and analysts, including:

  • Wendy Brown, environment director, IOGP 
  • Michael Cohen, chief US economist and head of oil analysis at BP 
  • Erlend Fjøsna, head of innovation and digital partnering - information and digital services, TechnipFMC 
  • Li Gang, chairman and general manager, Sinopec Yanshan Petrochemical Company 
  • Ahmed Heikal, chairman and founder, Qalaa Holdings 
  • Jane Liao, vice president, CPC Corporation 
  • John Morea, CEO, SGN 
  • Chris Ong, CEO, Keppel Offshore & Marine  
  • Gerard Reid, co-founder and partner, Alexa Capital, and member of the World Economic Forum’s Global Future Energy Council 
  • Andy Samuel, CEO, The Oil and Gas Authority (OGA) 
  • René Schutte, program manager hydrogen, Gasunie
  • Eirik Wærness, senior vice president and chief economist, Equinor.

A timely study across the oil and gas value chain

The research was conducted during November and December 2020. It was carried out by teams from DNV GL and Longitude (a Financial Times company). The organizations surveyed vary in size: 32% had annual revenue of USD 100 million (m) or less, while 27% had annual revenue in excess of USD 1 billion (bn). Respondents were drawn from across the oil and gas value chain, including publicly listed companies and privately held firms. They represent a range of functions within the industry, from board-level executives to senior engineers.