2013 Russian oil & gas outlook survey
This publication details the findings of our annual survey of oil and gas executives in the CIS region.
The survey is focused on sector and individual company performance, along with prospects for business development in the short and long-term.
According to survey respondents, 2012 was notable for greater investment activity into current operations, innovative solutions and environmental programs. Significantly, 79% of participants also reported increased expenditure on capital projects. Additionally, most cited efficient asset management as a driver for sustaining and enhancing their competitive edge.
Optimising inventory and infrastructure costs and the use of energy-saving technologies are seen as the most popular ways to reduce costs. Although 10% of respondents are considering headcount optimisation, talent shortfall remains one of the key issues for 22% of respondents.
Given the favorable outlook for hydrocarbon demand both domestically and globally, and the expected stability of oil prices in the upcoming year, most oil and gas companies still plan to increase their financing of core operations and are preparing to invest in the exploration, production, sale and distribution of hydrocarbons. As for sources of financing, half of the respondents mainly plan to use third-party loans with only 21% saying they will raise funds internally.