Oil and Gas Business
Confidence Report Q3 2014 is the new report from Research and Experts that globally
analyzes industry opinions on the latest economic and customer issues, and
their impact on investment decisions and growth prospects within the oil and
gas industry.
This report also examines executive opinion on the current and
future state of the economy and its retrospective effect on the industry. We
analyze the likely effect of supplier price changes, sales performance, and
staff headcount within the industry over July–September 2014 and in addition,
provide an overview of the key priorities, threats, and opportunities for the
global oil and gas industry.
Report
highlights
Survey results
reveal that 46% of Oil and Gas industry executives consider the current
economic conditions to be stable across the globe, while 30% communicated that
the current economic conditions are favorable for Q3 2014. This indicates that
the business environment of the global Oil and Gas industry is performing well
and is consistent. Moreover, with proven strong reserves in the Middle East
region, and constantly increasing oil prices due to rising demand across the
globe, the Oil and Gas industry is forecast to be profitable in Q3 2014.
According to a press release in June 2014 by the World Bank about the global
economic prospects, it is evident that economic recovery in developed countries
such as the US is gaining momentum and is expected to grow by just under 2% in
2014, increasing to 2.4% in 2015.
Moreover, the
global economy is expected to increase considerably in 2015 and 2016, with more
contribution from developed economies. Evidencing the trend, in September 2014,
German engineering company Siemens announced its intent to acquire oil
equipment manufacturer Dresser-Rand, which is based in the US, for over US$7
billion. Siemens announced its plans to operate Dresser-Rand, which has
manufacturing facilities in the US, the UK, France, Spain, Germany, Norway,
India, and Brazil, as the company's core Oil and Gas business by retaining its
brand name and the US headquarters.
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