Insight
Global upstream: 5 things to look for in 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream oil and gas got its mojo back in 2022, but what does 2023 hold for the sector? Serious questions will be asked about the sector’s future. At all levels, the upstream industry needs to capture and broaden the energy narrative. Decarbonising and developing resources responsibly needs to be the top priority. Some will find a renewed sense of purpose to provide secure and affordable energy, aided by healthy balance sheets. Others remain unprepared for the fiscal, regulatory and social challenges that lay ahead. Our key themes for 2023 include windfalls and incentives; restrained investment growth; cost inflation; execution risk; decarbonisation; and the emergence of gas business models.
Table of contents
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Executive summary
- Russia is a global wildcard
- 1. Windfalls and incentives
- 2. A year of restrained investment growth
- 3. Cost inflation will continue, execution risks will rise
- 4. Decarbonisation will be at the core of Upstream 2.0
- 5. Gas business models will start to change
Tables and charts
This report includes the following images and tables:
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Recent fiscal changes and proposalsNear term investment trendsGlobal upstream reinvestment ratesMethane emissions by peer groupMethane emissions by super-region
What's included
This report contains:
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