Business Outlook 2019

Contents

1

1. Foreword

5 6 8 9

2. Key Performance Indicators

3. Business Environment

3.1 3.2 3.3 3.4

Oil Market Gas Market

2

11 12

EU ETS Carbon Market

The Continued Importance of Oil and Gas in a Lower-Carbon Economy

13 15 18 19 22 31 39 40 40 44

3

3.5

Mergers and Acquisitions

4. Exploration and Production Outlook

4.1 4.2 4.3 5.1 5.2 5.3 5.4

Production

Drilling Activity E&P Expenditure

4

5. Supply Chain Outlook

Supply Chain Sentiment Financial Performance Share Price Performance Realising New Opportunities for Supply Chain Companies

5

45 46

5.5

Employment Trends

6

7

Oil & Gas UK's vision is to ensure the UK Continental Shelf becomes the most attractive mature oil and gas province in the world with which to do business.

8

9

Read all our industry reports at www.oilandgasuk.co.uk/publications

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