This paper presents an
analysis of the political/legal, economic, socio-cultural, technological and ecological factors affecting
the United Kingdom-based Upstream Oil and Gas
Industry. The paper then uses the analysis to identify the top three most significant issues or trends in the recent past and medium term future facing the industry and provides justification for those choices. Next, the paper develops three
scenarios for the industry that relate to an environment where conditions are optimistic for the future, pessimistic for the future and middle-of-the-road. Through the analysis and the scenarios drawn, the paper attempts to provide an in-depth understanding of the situational factors that affect and have the potential to affect this industry now and in the future.