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Petroleum & Natural Gas Support Activities in the UK - Industry Market Research Report

Publisher IBISWorld
Published Nov 22, 2024
Length 77 Pages
SKU # IBSS19493281

Description

Petroleum & Natural Gas Support Activities in the UK - Industry Market Research Report


Petroleum & Natural Gas Support Activities in the UK

Oil and gas support companies' revenue is highly susceptible to fluctuations in oil and gas prices, which is why COVID-19 and the Russian invasion of Ukraine have wreaked havoc on the industry. The COVID-19 pandemic led to a significant proportion of investment being deferred because of social distancing restrictions that lowered demand for fuel and led to historically low oil prices over 2020-21. The vaccination roll-out supported the reopening of economies and the ramping up of industry activity, which applied upward pressure on oil and gas prices. In turn, this made exploration and drilling activity viable, with industry operators benefitting greatly. Despite a substantial loss in 2020-21, industry-wide revenue is expected to grow at a compound annual rate of 3.8% to £7.2 billion over the five years through 2022-23.

This industry provides oil and gas well services on a fee or contract basis to firms that extract oil and gas. This includes traditional prospecting methods such as geological observations, and invasive work such as directional drilling, re-drilling, test drilling, spudding, and derrick erection and maintenance. It also incorporates draining and pumping services, and the liquefaction and regasification of gas for transportation.

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.

Table of Contents

77 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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