Industry Analysis & Industry Trends
Due to the economy's strong dependence on crude oil and natural gas for transport fuels and inputs, the Oil Drilling and Gas Extraction industry has fared well over the past five years. Output is projected to expand moderately over the five years to 2020 as rising crude oil production in some regions offsets falling output from others... purchase to read more
Industry Report - Starting a New Business Chapter
There are substantial barriers to entry to the Oil Drilling and Gas Extraction industry. These include the high-risk nature of oil and gas exploration and development, the difficulty in locating economically viable deposits and the large amounts of capital companies require bringing fields into production. In addition, many of the major oil and gas producers are vertically integrated companies, with interests in downstream operations, such as petroleum refining and marketing. New entrants lacking such linkages may find it difficult to penetrate the market.
While the existence of large international oil companies in the industry is undoubtedly a significant deterrent to market entry, there are opportunities available for smaller companies to enter the market... purchase to read more