The global oil & gas industry experienced a 34% drop in company filings mentions of corporate governance in Q3 2022 compared with the previous quarter, with the highest share accounted for by Reliance Industries, according to GlobalData’s analysis of over 849 oil & gas company filings.
Notably, corporate governance was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of social and Covid-19, according to GlobalData’s whitepaper on Corporate Governance in Oil & Gas – Filings Trends in Q3 2022.
Of the 50 leading companies in the oil & gas industry, Reliance Industries had the greatest increase in references for corporate governance in Q3 2022, compared with the previous quarter. GlobalData identified 566 corporate governance-related sentences in the company's filings - 67 % of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. APA’s mentions of corporate governance rose by 100% to 310 and Sasol’s by 100% to 218.
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 corporate governance in Q3 2022 was 104.