Industry Analysis & Industry Trends
In 2015, the Oil and Gas Drilling Support Services industry is expected to generate $39.2 billion. Over the past five years, revenue has been growing at an annualized rate of 5.2% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.6% of revenue in 2015 – although low, profitabilty has been rising.
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 2015, their combined market share is estimated to be 94.0% of industry revenue. There are about 150 firms operating in this industry, employing 312,505 people with total wages of $7.3 billion.... purchase to read more
Industry Report - Industry Analysis Chapter
During the five years to 2015, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 5.2%. The industry's steady development is due to China's stable investment in the exploration and development of oil and gas fields, the specialization and integration of drilling support service companies and improvements in technology.
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 5.4% in the five years to 2015. However, China's crude oil output has only been growing just 0.7% per year over the same period. Automobiles consume over one-third of all refined oil in China... purchase to read more