Report: Oil industry to hike investment, grow workforce in 2019

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Oil and gas companies are expected to increase spending, grow workforce, and focus more on digitalization and decrabonization in 2019, according to a report by DNV GL.

DNV GL said on Tuesday that 70 percent of senior industry professionals it had interviewed for its oil and gas industry outlook report expected to increase or maintain capital expenditure in 2019.

Also, a third expect to grow their workforce in 2019, compared to 20% last year and just 10% four years ago with the industry’s grip on cost control relaxing as 21% stating that cost efficiency will be a ‘top priority’ in 2019, a drop from 31% in 2018. Over a third also expect to increase the use of contractors this year.

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