Market Research Report
Project Insight: Global Oil and Gas Construction Projects
|Published by||GlobalData||Product code||590851|
|Published||Content info||49 Pages
Delivery time: 1-2 business days
|Project Insight: Global Oil and Gas Construction Projects|
|Published: November 29, 2018||Content info: 49 Pages||
Global oil consumption is estimated to be 98.2 million barrels (bbl) per day in 2017, and is forecast to reach over 100 million bbl per day by Q3 2018. Oil and Gas production is determined by fluctuating prices, demand and investment. The agreement between the Organization of Petroleum Exporting Countries (OPEC) and Russia to reduce output by 1.2 million bbl per day, together with Russia's reduction by 600,000 bbl per day, has helped to rebalance supply and demand, and has revitalized investment in the oil and gas industry.
Global Oil and Gas construction projects pipeline stands at US$3.8 trillion with optimism returning to the sector as oil price increases stimulate project investment. In terms of the project pipeline value, the Americas accounts for the highest share with US$1.24 trillion, equivalent to 32% of the total global total. Asia-Pacific has projects valued at US$1.03 trillion, while Europe has a project pipeline of US$458.7 billion, trailing the other regions.
Cost cutting and efficiency improvements in production demanded by the period of lower oil prices have created lower break even points suited to a competitive oil market.
The report "Project Insight: Global Oil and Gas Construction Projects", provides detailed market analysis, information and insights based on oil and gas projects across the globe. The report provides detailed metrics on global and the regions' oil and gas construction projects split by country, type (e.g. pipeline, refinery), stage and value. Detailed metrics are also provided for the top 10 countries.