Oil & Gas Exploration & Production
Brief Excerpt from Industry Overview Chapter:
Companies in this industry develop and operate fields to extract crude petroleum and natural gas. Major companies include ConocoPhillips and ExxonMobil (both based in the US), as well as BP and Shell (both based in the UK), LUKOIL and TATNEFT (both based in Russia), National Iranian Oil Company (Iran), PETROBRAS (Brazil), Saudi Aramco (Saudi Arabia).COMPETITIVE LANDSCAPE
Companies with greater access to capital, which enhances their ability to secure drilling rights, purchase or lease equipment, and acquire smaller companies, enjoy competitive advantages. Efficiency in locating new, productive wells as well as continuing extraction from existing wells are the keys to profitability. Demand comes from oil and gas refiners and transporters, which are driven by consumer and industrial demand for petroleum products including gasoline, heating oil, lubricants, chemicals, and natural gas.PRODUCTS, OPERATIONS & TECHNOLOGY
Major products of the oil and gas exploration and production industry are crude oil (over 60% of revenue) and natural gas (about 30%); other sources of revenue (nearly 10%) include natural gas liquids.
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