The research sample is based on the opinions of 577 senior downstream and midstream oil and gas industry professionals in an online survey conducted during April and May 2009. Respondents include C-levels, directors, managers and technical and professional staff.
The survey showed that all companies that comprise the downstream and midstream oil and gas industry are equally optimistic about revenue growth in the next 12 months. More than 65% of respondents from each sector either expect an increase or stability in revenues.
The report said that majority of buyer companies will be increasing their purchasing on various products and services in the next 12 months. More than 46% of downstream and midstream oil and gas explorer/producers are looking to increase total procurement spend while about 14% intend to keep spends constant for the ensuing year.
There will be conspicuous increase in spending on engineering and fabrication services’, ‘processing equipment, control and automation’, ‘supervisory control and data acquisition (SCADA)’, ‘waste management services’ and ‘process technology services’, said ICD Research.
