In a year of upheaval caused by geopolitical tensions, the ongoing pandemic and an uncertain economic climate, energy CEOs face challenges and opportunities amidst the sector’s ongoing transformation.
As part of our 2022 CEO Outlook, we surveyed 138 energy CEOs in the oil & gas, power & utilities and renewable energy spaces, gathering their insights and perspectives into the business and economic landscapes over the next 3 years.
This report offers a lens into what today’s energy CEOs are doing to plan for economic disruption as the sector continues transitioning to a low carbon economy.
Believe there will be a recession in the next 12 months
Think a recession would upend anticipated growth over the next 3 years
Say an anticipated recession will be mild and short
Say they plan to put more capital into purchasing new technology
Think those who worked in offices pre-pandemic will be back in the office regularly in 3 years’ time
Have committed to allocating more than 6 percent of revenue to make their organization more sustainable
The past year has seen core energy technology movements, especially in green hydrogen and its derivatives, but also in aspects like CCS/CCUS. The focus on energy transition is also set to make changes to the long-term business portfolios of traditional energy players. Many are new and unproven technologies, but the world still relies on them to deliver decarbonization.
Global Head of Energy, Natural Resources and Chemicals
KPMG in India
About KPMG’s CEO Outlook
The 8th edition of KPMG CEO Outlook, conducted with 1,325 CEOs between 12 July and 24 August 2022, provides unique insight into the mindset, strategies and planning tactics of CEOs not only comparable to pre-pandemic to today, but also from KPMG’s CEO Pulse Survey conducted with 500 CEOs between 12 January and 9 February 2022, before the Russian government's invasion of Ukraine.
All respondents have annual revenues over US$500M and a third of the companies surveyed have more than US$10B in annual revenue. The survey included leaders from 11 markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications).
NOTE: some figures may not add up to 100 percent due to rounding.