Study reveals significant surge forward in global perception of oil and gas sector

Jon TippleA new study of PwC’s top 100 companies has revealed a surprising uptick in the global perception of the oil and gas sector

The comprehensive study, commissioned during lockdown by global brand consultancy FutureBrand, shows a surprising surge forward in the global perception of the oil and gas sector.

Despite oil and gas companies historically being perceived less well than other sectors in the index, this year’s uptick aligns with the trend we saw in the last index in 2018, where every firm moved up in the rankings, and some excelled.

Royal Dutch Shell has bucked expectations with its huge jump in the index, up 59 places to 29. The report suggests it has shown very strong growth in its vision for the future, contributing towards its success. While Saudi Aramco makes its index debut at 91.

One of the most profitable companies in India, Reliance Industries, was this year’s highest new entrant at number two. According to respondents in the report, the company is very well respected and seen as behaving ethically as well as being associated with growth, innovative products and great customer service. In particular, people have a strong emotional connection with the organisation.

Oil and gas companies are historically perceived less well than other sectors in the index, but the findings suggest the sector might finally be persuading people of its necessity, innovation, and sustainability in the modern world.

The FutureBrand Index is a global perception study that reorders PwC’s Global Top 100 Companies on perception strength, rather than financial strength, drawing on research with a global sample of 3,000 informed professionals from 17 countries.

Jon Tipple, global chief strategy officer and FutureBrand, commented, “The biggest link between the best-performing companies in the index is that they’ve all shown a highly individual response to COVID-19 as well as other significant market and societal shifts.

“This means prioritising what their staff and customers need and want most and delivering with oodles of authentic personality even if it means breaking with category conventions and norms. While these traits were once a ‘nice-to-have’, they are now crucial for corporate success.”

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