Poll results: Timeline to replace oil, gas supply lost from Iran war

In April, Fatih Birol, executive director of the International Energy Agency, told Bloomberg that it could take up to 2 years to replace a meaningful share of oil and gas production disrupted by the Iran war, citing damage to more than 80 key energy assets in the region.

Oil & Gas Journal took an informal poll to get an idea of what respondents thought about Birol’s estimate.   

The poll was shared on OGJ.com, across the brand’s social media channels, and was included in certain OGJ Daily e-newsletters during an Apr. 17–May 3 timeframe.

Here are a few highlights.

Predictions

Of those that responded, 41% said they believe the market will rebalance faster than Birol’s 2-year estimate. A total of 35% of respondents agreed with Birol, noting the 2-year timeframe was realistic.

Twelve percent of respondents predicted it would take significantly longer than 2 years to replace the oil and gas supply lost from the conflict, while another 12% said circumstances were too uncertain to make a prediction on the timeline.

Who responded

Corporate management professionals represented the largest share of respondents (38%), followed by professionals in engineering/technical/geoscience roles (19). Individuals who chose the “Other” category made up 16% of respondents. Those in purchasing and consulting made up 13%.

The majority of participants noted their involvement with a consulting company (22%) or an engineering/construction company (19%). Another 16% reported their involvement in an independent, state-owned, or integrated oil and gas company.

Where respondents work

Most participants were based in the United States (66%), with 32% of those located in Texas.