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Oil & Gas Market Research: Latest Industry Analysis, Trends & Statistics

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Topics under Oil and Gas

Global Oil & Gas Industry

The worldwide oil and gas industry is a major segment of the energy market and covers the locating, extracting (drilling), refining, delivering and marketing of oil and gas products. Oil meets much of the world’s demand for energy, around a third in the EU and Asia and over half in the Middle East. Gas market has recovered after consumption fell about 6% in the EU in 2009, driven down by the global financial crisis.

The world could come up against daily oil shortages of 18 million barrels by 2030, according to a report by the US Joint Forces Command.

Leading Oil & Gas Market Segments

Oil - The global market for crude oil is highly competitive due to falling resources. Americas represent more than 35% of the overall value of the global crude oil market.

Gas - The natural gas and liquefied natural gas storage (LNG) market demand has rebounded to match and exceed pre-recession levels. Gas prices in the US are about half of those in the EU and Asia. Gas demand fell 3% in 2009; the most dramatic fall in 30 years, according to the International Energy Agency.

Key Oil & Gas Regional Market Share

Demand for gas is decreasing at different rates in various regions, with demand in OECD countries dropping nearly 3.5% in 2009 to 1,495 billion cubic meters (bcm) and demand in India and China climbing 10% to 20%. Gas meets about 20% of global demand for electricity.

Oil & Gas Industry Leaders

The top 10 gas and oil companies dominating the global market are ExxonMobil Corp, BP, Gazprom Oao, Petrobras Brasileiro, Total SA, E.On AG, Petrochina Co, China Petroleum, Chevron Corp and Royal Dutch Shell.

Texas-based Exxon Mobil Corporation produces, transports and sells both crude oil and natural gas. 

BP, based in the UK, is a fuel provider for various sectors including transportation, retail services and energy for heat and light. It is involved in exploration, production, refining, and marketing.

Other leaders in the market include LUKOIL, RWE AG, Reliance Industries, Rosneft Oil, Endesa SA, ENI SpA, and TNK-BP.

Oil & Gas Market Outlook

The oil industry faces dual challenges of dwindling resources and weakening demand as environmental factors and the need for more reliable, cheaper sources of energy sees governmental policy favor renewable energies moving forward.

The EU region is increasingly reliant on imports of gas as its domestic production falls. The market is fragmented and national monopolies make it difficult for newcomers to gain access to the market. LNG share will continue to rise, coming largely from Africa, North Africa and the Caribbean.

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