After a lull for a couple of years due to the global recession, the energy industry witnessed a recovery during 2010. While the recession has reduced the strength of some conventional players, it has provided an opportunity for others to increase their clout in the industry. Datamonitor outlines some key trends to watch in the near future in this complimentary download from the Alacra Store.
- This decade will see national oil companies (NOCs) posing greater challenges to the established oil majors in the industry. NOCs are likely to significantly increase their global presence by using inorganic growth as a key strategy.
- Latin America is emerging as the preferred destination for new investments
- While nations belonging to the Organization of the Petroleum Exporting Countries (OPEC) will continue to dominate the conventional energy sector, the vast opportunities in the unconventional sectors will drive a lot of investment during this decade.
- The efficient harnessing of unconventional resources will require a collaborated approach from NOCs and international oil companies (IOCs).
- The natural gas domain can be expected to witness a healthy growth driven by emerging sectors, such as liquefied natural gas (LNG) and shale gas.