Industry Analysis & Industry Trends
In 2016, the Oil and Gas Drilling Support Services industry is expected to generate $36.5 billion. Over the five years to 2016, revenue has been growing at an annualized rate of 1.0% per year. Since the second half of 2014, international oil prices have been falling. As such, major oil companies have reduced investment in oil and gas exploration and development, resulting in a significant reduction in the overall workload of the oil and gas service industry. Revenue has showed a downward trend in the three years to 2016.
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).... purchase to read more
Industry Report - Industry Analysis Chapter
During the five years to 2016, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 1.0%. The industry's development has depended on 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 4.4% in the five years to 2016. However, China's crude oil output has been growing just 1.3% per year over the same period. Automobiles consume over one-third of all refined oil in China. The sales volume of automobiles in China increased from 18.5 mi.. purchase to read more