Black and gold: Emerging economies have driven industry revenue growth

Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from global reserves beneath the earth's surface. Over the past five years, the prices of crude oil and natural gas have fluctuated violently; therefore the overall value of the Global Oil and Gas Exploration and Production industry is expected to decline. Industry revenue declined sharply during the middle of the reporting period, when plummeting prices of crude oil and natural gas beginning in late 2014 caused revenue to fall in 2015 and 2016. Growth is estimated to be more moderate in 2018...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Report - Industry Products Chapter

Crude oilCrude oil is estimated to account for 70.6% of industry revenue in 2018, representing an increase since 2013. This is due to a variety of reasons, but primarily because the world price of natural gas declined at a slightly steeper annualized rate than the world price of crude oil. In addition, production of oil globally is estimated to have risen at an annualized 1.5% over the five years to 2018, while production of natural gas is estimated to have risen at an annualized rate of 0.8%. As a result, crude oil has risen as a share of industry revenue. However, over the next five years this figure is forecast to fall, as according to estimates from the EIA production of natural gas is expected to expand at a faster rate than production of crude oil...purchase to read more.

Additional Insights for the Global Oil & Gas Exploration & Production Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Oil & Gas Exploration & Production Industry are

  • Ability to accommodate environmental requirements
  • Ability to find new resource deposits
  • Must comply with government regulations
  • IBISWorld analysts also discuss how external factors such as World price of crude oil and World price of natural gas in the Global Oil & Gas Exploration & Production industry impact industry performance..

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    What's in this report

    What is the Global Oil & Gas Exploration & Production Industry?

    Industry operators explore for, develop and operate oil and gas fields. This industry includes the production of crude petroleum, the mining and extraction of oil from oil shale and oil sands, the production of natural gas, sulfur recovery from natural gas and the recovery of hydrocarbon liquids. Transport, refining and marketing activities are excluded from this industry.

    Industry Products
  • Crude oil
  • Natural gas
  • Industry Activities
  • Oil and gas exploration
  • Crude oil extraction
  • Natural gas extraction
  • Liquefied natural gas (LNG) production
  • Liquefied petroleum gas (LPG) production, except in conjunction with petroleum refining
  • Oil shale extraction
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of crude oil
  • World price of natural gas
  • GDP of the BRIC nations
  • Industrial production index of OECD countries

  • Current Performance
    Volatile prices prevailEmerging market demand
  • Chart: Revenue Growth

  • Industry Outlook
    Prices recoverIncrease in natural gas production
  • Table: Global Oil & Gas Exploration & Production Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Oil & Gas Exploration & Production Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Global Oil and Gas Refining and Marketing
  • Global Petrochemicals Manufacturing
  • Global Electric Utilities
  • Global Gas Utilities

  • Key Selling Industries
  • Global Deep-Sea, Coastal & Inland Water Transportation
  • Global Iron and Steel Pipe and Tube Manufacturing
  • Global Marine & Container Terminal Operation
  • Global Oil and Gas Mining Support Services
  • Global Ship & Boat Building
  • Other Global Transport

  • Products & Services
  • Crude oil
  • Natural gas
  • Chart: Global Oil & Gas Exploration & Production Industry Products and Services Segmentation

  • Demand Determinants
  • Oil
  • Natural gas

  • Major Markets
  • Petroleum refiners
  • Gas distributors and energy generation
  • Industrial sector
  • Chart: Major Market Segmentation for the Global Oil & Gas Exploration & Production Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other costs, rent, utilities and marketing
  • Chart: Cost Structure Benchmarking – Sector vs Global Oil & Gas Exploration & Production

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Oil & Gas Exploration & Production Industry

  • Industry Globalization
    Saudi Aramco, Public Joint Stock Company Gazprom,
  • Table: Saudi Aramco - financial performance
  • Table: Public Joint Stock Company Gazprom - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Global Oil & Gas Exploration & Production Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Global Oil & Gas Exploration & Production Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • World price of crude oil (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Liquefied natural gas, formed by cooling natural gas to a very low temperature, at which it becomes liquid.
  • Natural Gas
  • Naturally occurring gases consisting primarily of methane and ethane, but also including small amounts of heavier hydrocarbons such as propane and butane.
  • Oil Field
  • An underground or undersea deposit of oil contained within a stable geological formation.
  • What Our Customers Say

    Why buy this report?

    The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Oil & Gas Exploration & Production global market research report offers insightful industry analysis and research into the market at an international level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Oil & Gas Exploration & Production:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Oil & Gas Exploration & Production market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Oil & Gas Exploration & Production, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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