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Upstream Oil and Gas Opportunities in Key Countries 

  • September 2015
  • 84 pages
  • Frost & Sullivan
Report ID: 3302840

Summary

Table of Contents

Upstream Oil and Gas Opportunities in Key Countries : Unconventional Resources and Opening of New Markets Will Boost Investments in Upstream Oil and Gas
This market engineering study covers the opportunities present in the global upstream oil and gas market. The study tracks the current market opportunities and gives an overview of the impact of falling oil prices and the global economic slowdown, in addition to explaining the various factors that act as drivers and restraints. Because of the market’s volatility, this study discusses various scenarios and factors that affect the market. The research service presents an analysis for the onshore and offshore segments, along with scenarios for each segment and a competitive analysis of the top competitors. The study concludes with the major predictions for the global upstream oil and gas market.

Key Questions This Study Will Answer

- What have been the trends in the upstream market in the past, and what will be the major factors affecting the market growth in the future?
- How is the market poised to respond to challenges presented by falling oil prices?
- Which countries are the future hotspots for the upstream market?
- What will be the forecast CAPEX under various oil price scenarios?

Key Findings

- The global upstream sector is undergoing a significant transformation in the light of the drastic fall in oil prices over the past year. Oil prices fell from $ per barrel in June 2014 to $ per barrel in August 2015, causing most companies to slash capital expenditure (CAPEX) in upstream oil and gas (O&G) as project profitability declines.
- Total upstream CAPEX in the O&G sector in 2014 was $ billion and is set to decline to $ billion by 2020.
- CAPEX is forecast to decline sharply to $ billion in 2015 and is expected to recover only in 2018 as weaker demand growth and new supply coming into the market from Iran and Libya should mean supply exceeds demand till 2017. Going forward, this forecast has been kept as Frost & Sullivan’s base scenario for upstream investments till 2020.
- Frost & Sullivan’s optimistic scenario, which assumes an oil price recovery to $ per barrel during 2017, will lead to a recovery in CAPEX investment to $ billion by 2020, which is still a decline of % on the 2014 peak.
- If prices stay low for a prolonged period, as assumed in the conservative case, then CAPEX will continue to fall and show minimal recovery by 2020. In this scenario, CAPEX is forecast to reach $ billion by 2020, a decline of % on the 2014 peak.
- The United States attracted nearly $ billion of the global upstream CAPEX in 2014 and is set to decline to $ billion in 2015 as shale producers respond quickly to lower prices. Companies within OPEC, an umbrella organization of oil exporting countries, have slashed the CAPEX by % for 2015, from $ billion in 2014 to $ billion.

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