Amid uncertainty in commodity prices and global economic conditions, 71% of senior oil and gas professionals expect to maintain or increase investment in decarbonization, which marks a sharp increase compared to 2019 levels, according to a new study by DNV GL.

Despite a push in low-carbon investments, the overall optimism for industry growth has slightly weakened this year, according to another key finding of the study. While two thirds (66%) of senior oil and gas professionals are confident of industry growth in 2020, this is down 10 percentage points from the 76% recorded in 2019, the report stated.

“The [industry growth] numbers have fallen in 2019, probably due to a mixture of geopolitical issues and climate change concerns, but confidence is still very high compared to the years before 2018,” Frank Ketelaars, regional director of Americas at DNV GL, told Hart Energy.

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