Restraint on capital investment by oil- and gas-producing countries and others due to falling crude oil prices
First written in FY2017-Q2. 11 of 26 entries say "Restated". Latest entry: 2026-11-11.
The whole theme swung hardest in 2020: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2023-Q3MitigatedAnnual report
「As energy demand continued to recover, the importance of natural gas, which has a relatively lower environmental impact, including LNG, increased from the perspectives of both energy security and decarbonization, and capital investment was put into execution in oil- and gas-producing countries, with steady progress made on many projects.」
It is stated that capital investment by oil- and gas-producing countries progressed from signs of resumption to the execution stage, with steady progress made on many projects. - FY2023-Q2MitigatedAnnual report
「As economic activity resumed around the world, energy demand recovered. In addition, the importance of natural gas, including LNG, which has a relatively lower environmental impact, increased from the perspective of energy security, and many capital investment projects in oil- and gas-producing countries progressed toward implementation.」
Against the backdrop of recovering energy demand and the rising importance of natural gas, it was stated that many capital investment projects in oil- and gas-producing countries had progressed toward execution, further indicating an easing of the restrained investment environment. - FY2023-Q1MitigatedAnnual report
「Energy demand recovered, and the importance of natural gas, including LNG, which has a relatively lower environmental impact, increased from the perspective of energy security. As a result, the restart of capital investment plans in oil- and gas-producing countries became pronounced.」
Against the backdrop of recovering energy demand and the rising importance of natural gas, the resumption of capital investment plans by oil- and gas-producing countries was described as “prominent,” indicating further easing of the previously restrained investment environment. - FY2022MitigatedAnnual report
「From the perspective of energy security, the importance of natural gas, which has a relatively lower environmental impact, including liquefied natural gas (LNG), is increasing, and customer capital investment is expected to resume going forward with a view to ensuring a stable energy supply over the medium to long term.」
Against the backdrop of the rising importance of natural gas and LNG and the recovery in energy demand, expectations were expressed for the resumption of customer capital investment, and the previously restrained investment environment is moving toward easing. - FY2022-Q3MitigatedAnnual report
「Customers’ capital investment trends have begun to show gradual signs of improvement. In addition to the restart of capital investment plans in oil- and gas-producing countries in anticipation of the recovery in energy demand after COVID-19 subsides, investment in renewable power generation and industrial infrastructure, particularly in Asia, is progressing against the backdrop of decarbonization.」
It is stated that customers in oil- and gas-producing countries have begun to resume their capital investment plans, and that investment in renewable energy generation and industrial infrastructure is also progressing, indicating signs of improvement in the previously restrained investment environment. However, uncertainty about the outlook due to variants and other factors remains. - FY2022-Q1Signs of recovery but no final investment decisionsAnnual report
「Customers’ capital investment trends have begun to show gradual signs of improvement, including orders for basic engineering services, but customers have not yet made final investment decisions, and conditions remain challenging.」
While signs of recovery have emerged in orders for basic engineering services, final investment decisions have not been reached, and the capital investment environment remains difficult. - FY2021-Q3Crude oil prices recover, but no change in capital investment trendsAnnual report
「Although crude oil prices were gradually recovering, they had not yet affected customer capital investment trends, and the market outlook therefore remained difficult to assess.」
While crude oil prices are trending toward recovery, customer capital investment trends remain unchanged, and uncertainty in the market environment continues. - FY2021-Q2RestatedAnnual report
「Although the global economy showed signs of recovery, it remained depressed, and crude oil prices also continued at low levels, resulting in continued uncertainty about the market outlook.」
The sluggish global economy, low crude oil prices and uncertainty in the market environment continued from the previous quarter. - FY2021-Q1Continued low crude oil prices and market uncertaintyAnnual report
「The global economy declined sharply due to the impact of the novel coronavirus disease (hereinafter, “COVID-19”) from early 2020, and crude oil prices remained at low levels, resulting in continued uncertainty about the market outlook.」
Against the backdrop of COVID-19 and low crude oil prices, uncertainty in the market environment continued into the first quarter. At the same time, expectations were also expressed for the resumption of capital investment in the second half of the fiscal year. - FY2020MaterialisedAnnual report
「The global spread of the novel coronavirus disease (hereinafter, “COVID-19”) from early 2020 slowed the global economy. In addition, Saudi Arabia and Russia shifted to increasing crude oil production, causing crude oil prices to plunge, and some customer capital investment plans were postponed, resulting in an uncertain market environment.」
It is stated that the previously identified risks of crude oil prices and restrained capital investment actually materialized, with crude oil prices plunging and customers postponing capital investment plans. - FY2020-Q3Monitoring US-China trade tensions and the situation in the Middle EastAnnual report
「In the overseas oil and gas field of the comprehensive engineering business, it remained necessary to monitor global political and economic conditions, including U.S.-China trade frictions and the situation in the Middle East. However, oil- and gas-producing countries had begun restarting capital expenditure plans, particularly for large-scale LNG and new refinery projects, and the surrounding business environment was improving overall.」
While the capital investment environment is improving overall, political and economic factors requiring monitoring, including US-China trade tensions and the situation in the Middle East, have also been newly identified. - FY2020-Q2RestatedAnnual report
「Although global political and economic conditions must continue to be monitored, oil- and gas-producing countries have begun to resume capital investment plans, particularly for large-scale LNG projects and new refinery projects, and the surrounding business environment is improving overall.」
While continued monitoring of global political and economic conditions is considered necessary, activity to resume capital investment, particularly in large-scale LNG projects and new refinery projects, has been indicated, reconfirming the improving trend in the business environment. - FY2020-Q1Monitoring political and economic conditionsAnnual report
「Although global political and economic conditions must continue to be monitored, oil- and gas-producing countries have begun to resume capital investment plans, particularly for large-scale LNG projects and new refinery projects, and」
The focus was placed not on crude oil prices themselves but on global political and economic conditions. At the same time, the resumption of capital investment plans, particularly for large-scale LNG projects and new refinery projects, is progressing, and the improving trend in the business environment continues. - FY2019-Q3Volatile crude oil pricesAnnual report
「During the first nine months of the fiscal year, crude oil prices had been volatile since October, but oil- and gas-producing countries had begun restarting their capital expenditure plans, and the business environment surrounding the Group was improving overall.」
While new volatility in crude oil prices was explicitly noted, the business environment was described as improving overall due to the resumption of capital investment plans by oil- and gas-producing countries. - FY2019-Q2RestatedAnnual report
「During the first six months of the fiscal year, stable crude oil prices since 2016 prompted oil- and gas-producing countries to begin restarting their capital expenditure plans, and the business environment surrounding the Group is improving overall.」
Continued improvement in the business environment, driven by stable crude oil prices and the resumption of capital investment plans by oil- and gas-producing countries, has been indicated. - FY2019-Q1RestatedAnnual report
「During the first three months of the fiscal year, stable crude oil prices since 2016 prompted oil- and gas-producing countries to begin restarting their capital expenditure plans, and the business environment surrounding the Group is gradually improving overall, although some uncertainty remains.」
While continued improvement in the environment due to stable crude oil prices and the resumption of capital investment plans by oil- and gas-producing countries has been indicated, it has also been noted that uncertainty remains. - FY2018RestatedAnnual report
「During the fiscal year, stable crude oil prices since 2016 prompted oil- and gas-producing countries to begin restarting their capital expenditure plans, and the business environment surrounding the Group is gradually improving, although some uncertainty remains.」
While continued improvement in the environment due to stable crude oil prices and the resumption of capital investment plans has been indicated, it has also been noted that uncertainty remains. - FY2018-Q3RestatedAnnual report
「During the first nine months of the fiscal year, stable crude oil prices since 2016 prompted oil- and gas-producing countries to begin restarting their capital expenditure plans, and the business environment surrounding the Group is gradually improving, although some uncertainty remains.」
Improvement in the business environment, driven by stable crude oil prices and the resumption of capital investment plans by oil- and gas-producing countries, continued to be indicated from the previous quarter. Some uncertainty remains. - FY2018-Q2RestatedAnnual report
「During the first six months of the fiscal year, stable crude oil prices since 2016 prompted oil- and gas-producing countries to begin restarting their capital expenditure plans, and the business environment surrounding the Group is gradually improving, although some uncertainty remains.」
Continued improvement in the environment, driven by stable crude oil prices and the resumption of capital investment plans, has been indicated. At the same time, it has also been noted that some uncertainty remains. - FY2018-Q1RestatedAnnual report
「Stable crude oil prices since 2016 have prompted oil- and gas-producing countries to begin restarting their capital investment plans, and the business environment surrounding the Group is improving.」
Improvement in the business environment, driven by stable crude oil prices and the resumption of capital investment by oil- and gas-producing countries, continued to be indicated from the previous quarter. - FY2017-Q3MitigatedAnnual report
「Following the gradual recovery in crude oil prices, which had been declining since mid-2014, oil- and gas-producing countries began to resume their capital investment plans. Although capital investment in large-scale LNG projects and other projects remained restrained, the business environment surrounding the Group showed signs of improvement.」
The risk of restrained capital investment due to low crude oil prices was partly mitigated by the recovery in crude oil prices and the resumption of capital investment plans. However, restraint on large-scale LNG projects continued. - FY2017-Q2First statedAnnual report
「Following the decline in crude oil prices from mid-2014, capital investment by oil- and gas-producing countries, major oil companies and others generally continued to be restrained」
The business environment is described as one in which capital investment was restrained against the backdrop of declining crude oil prices.