Industry optimism is on the rise, but so are costs

The oil and gas sector feels better able to survive oil price volatility, DNV GL’s boss tells Petroleum Economist, as long as spending is kept under control

The boom days may be over, but the oil and gas industry has emerged from the oil-price slump leaner, fitter and in a better position to cope with future volatility in the sector, says Liv Hovem, chief executive of DNV GL's oil and gas business. As a provider of testing, certification and advisory services, the Oslo-headquartered company is well placed to take the pulse of the industry. The regular surveys it carries out across the sector, along with analysis of demand patterns for its own services, give a good idea of current trends. DNV GL's latest report, an annual outlook for the oil and gas industry, suggests optimism is returning for both operators and suppliers. A survey of 791 senior