Feb 2019 - Market Perspective - Doc # EMEA44327219
Oil and Gas Industry Quarterly Update: October–December 2018
This IDC Market Perspective provides an overview of the EMEA oil and gas industry in 4Q18, covering M&As, agreements, reorganizations, and major business developments; upstream, midstream deals, and downstream deals; global LNG contracts; ICT ecosystem acquisitions and agreements; and ICT contract wins.
"In the past quarter, oil prices fell continuously for three months. If this trend continues, driven by geopolitical turmoil, are oil business owners resilient enough to survive prolonged downturn? We think only a few may be so. In terms of long-term digital strategy, prioritizing enhanced efficiency in cost of ownership and time to market by digital innovation over cost cutting and downsizing — irrespective of oil prices — would be the best way forward," said Gaurav Verma, oil and gas manager, IDC Energy Insights EMEA.