The global oil & gas industry experienced a 40% drop in company filings mentions of Covid-19 in Q3 2022 compared with the previous quarter, with the highest share accounted for by Reliance Industries , according to GlobalData’s analysis of over 1176 oil & gas company filings.
Notably, Covid-19 was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of mobile and digitalization, according to GlobalData.
Of the 50 leading companies in the oil & gas industry, Reliance Industries had the greatest increase in references for Covid-19 in Q3 2022, compared with the previous quarter. GlobalData identified 260 Covid-19-related sentences in the company's filings - 22 % of all sentences - and an increase of 642% in Q3 2022 compared with Q2 2022. Avantor ’s mentions of Covid-19 rose by 36% to 64 and Saudi Arabian Oil’s by 100% to 47.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for Covid-19 in Q3 2022 was 188.