The global oil & gas industry experienced a 31% drop in company filings mentions of digitalization in Q3 2022 compared with the previous quarter, with the highest share accounted for by Reliance Industries , according to GlobalData’s analysis of over 329 oil & gas company filings.
Notably, digitalization was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of batteries and future of work, according to GlobalData.
Of the 50 leading companies in the oil & gas industry, Reliance Industries had the greatest increase in references for digitalization in Q3 2022, compared with the previous quarter. GlobalData identified 307 digitalization-related sentences in the company's filings - 93 % of all sentences - and an increase of 802% in Q3 2022 compared with Q2 2022. Adani Total Gas ’s mentions of digitalization rose by 500% to 30 and Schlumberger ’s by 44% to 30.
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 digitalization in Q3 2022 was 101.