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Oil and gas industry regains its confidence: DNV

10 April 2024

A report by Norwegian certification company DNV published April 10 reveals a resilient optimism within the energy sector. This is despite prevailing caution and political uncertainty.

Industry Insight Survey shows the oil and gas sector has regained confidence, rising from 58% in 2022 to 68% in 2024, reflecting recognition of the industry’s pivotal role while navigating the transition.

Electrical power meanwhile has dipped from 87% to 76%, while renewables have experienced a similar downward trend, from 87% to 78%. This decline mirrors a broader shift in industry growth expectations and organisational confidence. Rising costs and supply chain disruptions are posing significant hurdles to project viability and the pace of energy transition, the report finds.

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