Global Oil & Gas Exploration & Production
Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from global reserves beneath the earth's surface. Over the past five years, the prices of crude oil and natural gas have fluctuated violently; therefore the overall value of the Global Oil and Gas Exploration and Production industry is expected to decline. Industry revenue declined sharply during the middle of the reporting period, when plummeting prices of crude oil and natural gas beginning in late 2014 caused revenue to fall in 2015 and 2016. Growth is estimated to be more moderate in 2018. Over the years leading up to the reporting period, continued growth in emerging markets, especially large developing nations such as China and India, boosted demand for petroleum products and expanded their demand for energy; as a result, levels of production grew consistently every year. In addition, high prices prompted many operators to expand production at more expensive, unconventional locations, which are less cost-effective at lower price points. Over the next five years, production of crude oil and natural gas is forecast to increase. However, as emerging markets continue to grow and import petroleum, competition will intensify for exporting nations to supply these growth markets.
Industry operators explore for, develop and operate oil and gas fields. This industry includes the production of crude petroleum, the mining and extraction of oil from oil shale and oil sands, the production of natural gas, sulfur recovery from natural gas and the recovery of hydrocarbon liquids. Transport, refining and marketing activities are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook