Albany, NY -- (SBWIRE) -- 06/10/2013 -- “Global Oil and Gas Survey 2013-2014: Market Trends, Buyer Spend and Procurement Strategies in the Global Oil and Gas Industry” is a new report by ICD Research that analyzes how oil and gas industry companies' procurement expenditures, business strategies, and practices are set to change in 2013-2014. Additionally, this report also presents a comparative analysis between two years of survey results (wherever applicable). This report gives you access to the category-level spending outlooks, budgets, supplier selection criteria, business challenges, and investment opportunities of leading purchase decision makers. The report also identifies the future growth of buyers and suppliers, MandA, capital expenditure, staff hiring, and e-procurement. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities, as well as access to information categorized by region, company type, and size.

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Introduction and Landscape

Why was the report written?

This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading global oil and gas industry executives; it provides data and analysis on buyer expenditure, procurement, and developments within the global oil and gas industry. The report includes key topics such as global oil and gas industry buyer expenditure and procurement behaviors and strategies, and identifies the threats and opportunities within the global oil and gas industry, economic outlook trends, and business confidence within global oil and gas industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives' attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, ICD Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value-chain of the global oil and gas industry.

What is the current market landscape and what is changing?

Executives from the global oil and gas industry anticipate an increase in levels of consolidation, with 54% of respondents projecting an increase in merger and acquisition (MandA) activities in 2013.

What are the key drivers behind recent market changes?

Challenges faced by the oil and gas companies, such as increasing competition, poor market conditions, cheaper financing, changing oil, and gas expedition dynamics, have prompted companies to consolidate positions and look for MandA's.

What makes this report unique and essential to read?

This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading global oil and gas industry executives; it provides data and analysis on buyer expenditure, procurement, and developments within the global oil and gas industry. The report includes key topics such as global oil and gas industry buyer expenditure and procurement behaviors and strategies, and identifies the threats and opportunities within the global oil and gas industry, economic outlook trends, and business confidence within global oil and gas industry executives. Additionally, this report also presents comparative analysis between two years of survey results (wherever applicable).

Key Features and Benefits

- Project industry trends and revenue growth expectations in 2013, and understand business confidence to make informed business decisions.
- Drive revenues by understanding future product investment areas and key growth regions.
- Uncover key challenges and opportunities, and identify the key actions required to maintain and win buyer business.
- Formulate effective sales and marketing strategies by identifying how buyer budgets are changing and the direction of spending in the future. Better promote your business by aligning your capabilities and business practices with your customer's changing needs
- Secure stronger customer relationships by understanding the behavior and changing strategies of industry buyers.

Key Market Issues

- Middle East, Brazil, India, China and Indonesia are the important emerging markets to offer growth in 2013.
- Rising competition ', 'retention or recruitment of skilled staff', 'market uncertainty', and 'responding to pricing pressure' are the leading business concerns for the global oil and gas industry in 2013.
- Overall, for 2013, the average size of the annual procurement budget for global oil and gas industry buyer respondents is projected at US$121.9 million, against US$125.6 million in 2012.
- Level of service', 'price', 'existing relationship with supplier', and 'delivery lead times' are considered the most important factors for supplier selection in the global oil and gas industry, while 'environmental records and CSR', 'knowledge of buyer's market', and 'proximity of supplier operations' are considered the least important.
- While 21% of buyer respondents from the global oil and gas industry are willing to implement e-procurement in 2013 or beyond, 30% are already in different stages of implementation ('partially implemented', 'completely implemented', and 'evaluation or pilot use'.)

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Key Highlights

- An analysis of revenue growth expectations by senior level respondents reveals that 55% are 'more optimistic' about their company's revenue growth in 2013.
- A significant percentage of upstream oil and gas companies respondents highlighted capital expenditure towards 'facility expansion', 'machinery and equipment purchase' and 'new product development' would increase in 2013.
- The top three priorities for global oil and gas industry upstream oil and gas companies in 2013 are 'expand in current market', 'improve operational efficiency', and 'focus on sustainability'
- A total of 66% of respondents from upstream oil and gas companies, 63% of respondents from downstream and midstream oil and gas companies, and 65% of respondents from oil and gas industry supplier companies anticipate an increase in their current workforce in 2013.
- Survey results show that respondents from the global oil and gas industry identified US, Australia, Singapore, Taiwan and Hong Kong to offer the highest growth potential among developed countries in 2013-2014.

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