Industry Analysis & Industry Trends
In 2013, the Oil and Gas Drilling Support Services industry is expected to generate $36.1 billion. Over the past five years, revenue has been growing at an annualized rate of 3.2% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.0% of revenue in 2013 – although low, profit has recovered significantly from losses in 2009 due to the global recession.
A major feature of this industry is the existing oligopoly among the three state-owned oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC). In 2013, their combined market share is estimated to be 92.5% of industry revenue.... purchase to read more
Industry Report - Industry Analysis Chapter
During the five years to 2013, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 3.2%. The industry's steady development is due to China's significant investment in exploration and development of oil and gas fields, the specialization and integration of drilling support service companies and improvements in technology. The exploration and development of oil and gas fields is driven by growing domestic demand and rising global prices for crude oil and natural gas.
Consumption of oil and gas in China grew considerably during the past decade. Crude oil consumption in China has been increasing at an annualized rate of 5.9% in the five years to 2013. However, China's crude oil output has only been growing 2.0% per year over the same period... purchase to read more