Market Research Report
Oil and Gas Global Industry Almanac - Market Summary, Competitive Analysis and Forecast to 2025
|Oil and Gas Global Industry Almanac - Market Summary, Competitive Analysis and Forecast to 2025|
Published: July 21, 2021
Content info: 733 Pages
Delivery time: 1-2 business days
Global Oil & Gas industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The oil and gas market volume is defined as the total consumption (barrels of oil equivalent) of refined petroleum products and natural gas by end-users in each country. The value of the oil segment reflects the total volume of refined petroleum products, including refinery consumption and losses, multiplied by the hub price of crude oil. The value of the gas segment is calculated as the total volume of natural gas consumed multiplied by the price of natural gas (Henry Hub spot price). The values represent the total revenues available to exploration and production companies from sales of crude oil and natural gas. All market data and forecasts are represented in nominal terms (i.e. without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.
The length of the pandemic and restrictions introduced by various countries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non essential". As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modelled on the assumption of a crisis scenario and has taken into consideration forecast impacts on national economics.
The global oil and gas drilling market had total revenues of $1,147.5bn in 2020, representing a compound annual rate of change (CARC) of -3.4% between 2016 and 2020.
Market consumption volumes declined with a CARC of -0.2% between 2016 and 2020, to reach a total of 47,082 million BoE in 2020.
The value of the global oil and gas market declined by 40.1% in 2020, with the COVID-19 pandemic depressing demand and leading to the collapse of oil and gas prices.