Social Media and the Oil & Gas Sector: Challenges and Opportunities

Abstract

Abstract There are currently 4.62 billion users of social media worldwide1. This means that more than half of the population of the world uses social media (58.4%)2. The Oil and Gas sector cannot escape this reality, which is so valuable for communications and positioning strategies. One of the top-valued goals of modern organizations in all sectors is to have a positive presence on social media. For the oil and gas sector, this is particularly needed, as energy transition concepts are not necessarily well understood nor ingrained in society at large, making it difficult to revert any negative public opinion matrix about the sector. The COVID-19 pandemic forced many traditional organizations in the oil and gas sector to embrace social media, increasing their active presence on the main professional online platforms, gaining more engagement with their own employees and society like never before. This paper compares the social media presence of prominent organizations related to oil and gas in 2022, analyzing trends and highlighting opportunities and challenges. A comparison of key elements considered diagnostic in improving the recognition and reputation of oil and gas organizations are addressed in more detail, in particular sustainability and DE&I (gender representation, generally addressed as Diversty, Equity and Inclusion). Conclusions are related to cultural frameworks, selected language for postings, geo-political affinities, and the profile of the companies analyzed. Framing the current trends analyzed resulted in the identification of organizations that are more successful in the utilization of these key channels that are important to general audiences and especially to younger generations. Some unexpected findings shaped our conclusions that strategies needed for step-changes in political or cultural settings benefit greatly from the use of social media and have proven to be effective in furthering women's empowerment and for the uptake of sustainability at the corporate level.