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Oil & Gas Refinery Construction in the US Procurement Price, Data and Insights
Oil and gas refinery construction refers to the complex process of designing, engineering, and building industrial plants that convert crude oil and natural gas into usable fuels and chemical products through separation, cracking, and blending technologies. The construction process involves site preparation, installation of specialized equipment, and integration of safety and environmental controls to ensure efficient, large-scale refining operations.?? The key buyers are major energy companies and national oil corporations that own and operate refinery assets.
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What’s included in this market coverage
IBISWorld's research coverage on the Oil & Gas Refinery Construction procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Oil & Gas Refinery Construction market in the United States includes Engineering, Procurement, and Construction (EPC) Services, Project Management and Owner Representation, Design and Technical Validation, Construction of Processing Units, Storage Tanks, and Pipelines, Installation of Mechanical, Electrical, and Instrumentation Systems, Commissioning and Start-Up Assistance, Environmental Compliance and Safety Management, Maintenance, Turnarounds, Upgrades, and Expansions, Risk Assessment and Hazard Analysis and Scheduling, Staffing, and Operations Support. Standard coding in this coverage includes ISIC-429-Construction of other civil engineering projects, NACE-42.99-Construction Of Other Civil Engineering Projects N.E.C., NAICS-237120-Oil and gas pipeline and related structures construction and UNSPSC-72121503-Oil refinery construction service.
What common market terminology is included?
Common market terminology included in the Oil & Gas Refinery Construction procurement coverage includes Desulfurization Unit (A unit used at refineries to remove sulfur from oil.), Naphtha Hydrotreater (Equipment that binds hydrogen with sulfur and nitrogen to remove the impurities of oil.), Tender (A written offer or bid to contract for goods or services at a specified cost or rate.), Blind Bid (Refers to the practice by buyers of requiring contractors to bid for a project without seeing the site conditions.) and Alkylation Unit (Machinery that uses acid to create alkylate, which is a clean-burning gasoline blendstock.).
What companies are included as top suppliers?
The top companies covered in the Oil & Gas Refinery Construction procurement report as suppliers are S & B Engineers and Constructors Ltd., Performance Contracting Group, Kiewit Corporation, Bilfinger Se and Pcl Constructors Inc..
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Oil & Gas Refinery Construction market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) per refinery, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Oil & Gas Refinery Construction market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Oil & Gas Refinery Construction procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Oil & Gas Refinery Construction market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Oil & Gas Refinery Construction market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Oil & Gas Refinery Construction?
The 2026 benchmark market price for Oil & Gas Refinery Construction is $66.1 per refinery. Prices have increased at a CAGR of 1.4 from 2023-26.
Who are the top vendors in the Oil & Gas Refinery Construction market?
The top vendors in the Oil & Gas Refinery Construction market include S & B Engineers and Constructors Ltd., Performance Contracting Group, Kiewit Corporation, Bilfinger Se and Pcl Constructors Inc..
What industries supply the Oil & Gas Refinery Construction market?
The top industries supplying the Oil & Gas Refinery Construction market are Construction, Mining & Forestry Equipment Wholesaling in the US, Construction Machinery Manufacturing in the US, Valve Manufacturing in the US, Metal Stamping & Forging in the US, Screw, Nut & Bolt Manufacturing in the US, Metal Pipe & Tube Manufacturing in the US, Iron & Steel Manufacturing in the US, Industrial Machinery & Equipment Wholesaling in the US and Pump & Compressor Manufacturing in the US.
What is the supply chain risk for Oil & Gas Refinery Construction?
High supplier concentration increases vulnerability and limits buyer negotiation power. The US oil and gas refinery construction market is controlled by a handful of dominant players, concentrating risk and diminishing buyers' leverage regarding pricing and contract flexibility. Buyers should prioritize dual sourcing, robust contract terms, and regular performance reviews to mitigate exposure to delays, cost escalations, or quality issues if a single vendor underperforms or faces disruption.
What factors affect the price of Oil & Gas Refinery Construction?
Technical specifications in oil and gas refinery construction directly affect pricing by determining the complexity, materials, and technologies required for the project. For example, a refinery designed to process heavier crude oil may require more advanced equipment and higher-grade materials, leading to increased costs in both construction and ongoing operational expenses.
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