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2016 Global Outlook of the Oil and Gas Industry 

  • March 2016
  • -
  • Frost & Sullivan
  • -
  • 60 pages

Summary

Table of Contents

2016 Global Outlook of the Oil and Gas Industry : Massive Cuts in Upstream Capex Investment Create Challenges, but Opportunities are Ripe for Those with Funds to Invest

The decline in the oil price has had a massive impact on the sector and the wider economy. Upstream capital expenditures (capex) have been significantly cut, with many exploration and production projects being put on hold. However, for the midstream and downstream, investment is continuing, as participants invest for the longer term. The decline in the oil price is causing hardships for some exploration companies, but will create opportunities for those with the financial resources to acquire value assets that become available. On the equipment side, all suppliers are under pressure to reduce costs; the oilfield service companies that enjoyed high margins in the recent boom are particularly impacted.

Key 2016 Oil and Gas Industry Predictions Explained Opportunities are ripe for those with access to funding.

Top Predictions for 2016

1 .Oil Prices to Stay Below $ in 2016: Frost & Sullivan agrees with the general consensus that prices will gradually recover, but will stay below $ per barrel in 2016.
2 Time of Opportunity: The low oil price provides an excellent opportunity for oil companies and private equity firms with capital to invest in either projects or assets.
3 Global Oil Production to be Stable: Increases in Iraq and Iran will be offset by declines in North America.
4 Global Operational Rig Count to Decline by %: The majority of rigs are used for natural gas, hence the limited impact on oil production. However, the efficiency of operational rigs for both oil and gas continues to increase.
5 Greater Focus on Transportation Costs: As a percentage, transportation costs have increased and the impact is significant for rail and trucks.
6 Increasing Competition in the Gas Market: With the United States shipping liquid natural gas (LNG) to Europe, the balance of power is shifting to consumers of natural gas.
7 Refinery Margins to Stay Strong: In particular, margins in Asia will hold up. The United States will some modest declines, but a recovery is forecast for the end of the year.
8 Downstream Investment Remains Strong: Long-term demand and strategic expectations mean that storage and refinery investment will continue to be strong.

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