Filings buzz in oil and gas industry: 112% increase in robotics mentions in Q2 of 2021
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Filings buzz in oil and gas industry: 112% increase in robotics mentions in Q2 of 2021

By Andrew Hillman 16 Nov 2021

Mentions of robotics within the filings of companies in the oil and gas industry rose 112% between the first and second quarters of 2021.

Mentions of robotics within the filings of companies in the oil and gas industry rose 112% between the first and second quarters of 2021.

In total, the frequency of sentences related to robotics between July 2020 and June 2021 was 1200% higher than in 2016 when GlobalData, from whom 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 which have mentioned robotics at least once in filings during the past twelve months - this was 34% compared to 8% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to robotics.

Of the 50 biggest employers in the oil and gas industry, Osaka Gas Co Ltd was the company which referred to robotics the most between July 2020 and June 2021. GlobalData identified eight robotics-related sentences in the Japan-based company's filings - 0.3% of all sentences. Atlas Copco AB mentioned robotics the second most - the issue was referred to in 0.2% of sentences in the company's filings. Other top employers with high robotics mentions included ENEOS Holdings Inc, Royal Dutch Shell Plc and PTT Public Co Ltd.

Across all companies in the oil and gas industry the filing published in the second quarter of 2021 which exhibited the greatest focus on robotics came from Royal Dutch Shell Plc. Of the document's 2,000 sentences, 10 (0.5%) referred to robotics.

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 0.07% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Oceania mentioned robotics in just 0.01% of sentences.