Mentions of robotics within the filings of companies in the oil and gas industry fell 60% between the third and fourth quarters of 2021.
In total, the frequency of sentences related to robotics during 2021 was 340% higher than in 2016 when GlobalData, from which our data for this article is taken, first began to track the key issues referred to in company filings.
When companies in the oil and gas industry publish annual and quarterly reports, ESG reports, and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Robotics is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether robotics is featuring more in the summaries and strategies of companies in the oil and gas industry, two measures were calculated. Firstly, we looked at the percentage of companies that have mentioned robotics at least once in filings during the past 12 months – this was 37% compared to 13% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to robotics.
Of the 10 biggest employers in the oil and gas industry, RIL was the company that referred to robotics the most during 2021. GlobalData identified five robotics-related sentences in the India-based company's filings – 0.06% of all sentences. Rosneft mentioned robotics the second most – the issue was also referred to in 0.06% of sentences in the company's filings. Other top employers with high robotics mentions included Honeywell, Schlumberger and Lukoil.
This analysis provides an approximate indication of which companies are focusing on robotics and how important the issue is considered within the oil and gas industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning robotics more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into robotics have been successes or failures.
In the last quarter, companies in the oil and gas industry based in Asia were most likely to mention robotics with 0.04% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in South America mentioned robotics in just 0.01% of sentences.