Press release
Oil And Gas Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
The oil and gas market size has grown strongly in recent years. It will grow from $7188.25 billion in 2023 to $7625.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to surge in crude oil and natural gas production, expansion of petrochemical industry, emerging markets growth, and a rise in investments for oil and gas exploration in developing countries.
The oil and gas market size is expected to see strong growth in the next few years. It will grow to $9347.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to growth in resource exploration and government support will drive the market growth. factors that could hinder the growth of the oil and gas market in the future include price volatility and geopolitical tensions.. Major trends in the forecast period include focusing on emission reduction solutions, shift towards digital technologies, growing popularity of reservoir modeling, investing in oil drilling activities, and industry alliances for advanced drilling solutions.
Market Overview -
Oil and Gas extraction is the exploration and production of petroleum and natural gas from wells.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=1868&type=smp
Positive Impact Of Low Interest Rates On The Oil And Gas Industry In Developed Countries
Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in September 2023, UK decreased the interest rates to 0.1% which was the lowest ever and remained at this level until December 2021. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2021.
Competitive Landscape -
Major companies operating in the oil and gas market report are Sinopec, Saudi Aramco, Exxon Mobil, Chevron, Total SA, PetroChina, BP plc, Royal Dutch Shell, Valero Energy Corp, PJSC Gazprom, Indian Oil Corporation Limited, Oil and Natural Gas Corporation, Bharat Petroleum, Reliance Petroleum Ltd, Eneos Holdings, China National Petroleum Corporation, Shaanxi Yanchang Petroleum, Sinochem Group, China National Offshore Oil Corporation, TotalEnergies SE, Wintershall Dea GmbH, Repsol SA, Glencore International AG, Eni SpA, Edison, Enel X, Erg, Rosneft Oil Co, Lukoil Oil Co, Surgutneftegas, Tatneft, Novatek, Irkutsk Oil Company, OMV Petrom, PKN Orlen, Lotos Group, Moravské naftové doly, ConocoPhillips, Anadarko Petroleum Corporation, Occidental Petroleum Corporation, EOG Resources, Cimarex Energy, Pioneer Natural Resources, Suncor Energy Inc, Cenovus Energy Inc, Canadian Natural Resources Limited, AltaGas Ltd, Petrobras (Petróleo Brasileiro S.A.), QGEP Participações S.A., Petrogal Brasil S/A, Petronas Petróleo Brasil Ltda, EQUINOR ENERGY DO BRASIL LTDA., Emirates National Oil Company (ENOC), Dubai Petroleum., Emirates General Petroleum Corporation (Emarat), Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC), EMDAD Services LLC., Crescent Petroleum., Dana Gas., Egyptian General Petroleum Corporation, Egyptian Natural Gas Holding Co, Nigerian National Petroleum Corporation, Aiteo, Sasol Limited, Engen Petroleum Limited, African Exploration Mining and Finance Corporation, Tullow Oil, National Oil Corporation of Kenya.
Leveraging Big Data Analytics And Artificial Intelligence For Enhanced Decision-Making In The Oil And Gas Industry
Major companies in the oil and gas industry are looking into big data analytics and artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines, and other infrastructure through many sensors placed across the oil rig. Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions. Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/oil-and-gas-global-market-report
Key Segments -
The oil and gas market covered in this report is segmented -
1)By Type: Oil & Gas Upstream Activities, Oil Downstream Products
2) By Drilling Type: Offshore, Onshore
3) By Application: Residential, Commercial, Industrial, Other Applications
Sub segments: Crude Oil, Natural Gas, Oil And Gas Wells Drilling Services, Oil And Gas Supporting Activities, Refined Petroleum Products, Asphalt, Lubricating Oil And Grease
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The oil and gas market size is expected to see strong growth in the next few years. It will grow to $9347.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to growth in resource exploration and government support will drive the market growth. factors that could hinder the growth of the oil and gas market in the future include price volatility and geopolitical tensions.. Major trends in the forecast period include focusing on emission reduction solutions, shift towards digital technologies, growing popularity of reservoir modeling, investing in oil drilling activities, and industry alliances for advanced drilling solutions.
Market Overview -
Oil and Gas extraction is the exploration and production of petroleum and natural gas from wells.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=1868&type=smp
Positive Impact Of Low Interest Rates On The Oil And Gas Industry In Developed Countries
Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in September 2023, UK decreased the interest rates to 0.1% which was the lowest ever and remained at this level until December 2021. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2021.
Competitive Landscape -
Major companies operating in the oil and gas market report are Sinopec, Saudi Aramco, Exxon Mobil, Chevron, Total SA, PetroChina, BP plc, Royal Dutch Shell, Valero Energy Corp, PJSC Gazprom, Indian Oil Corporation Limited, Oil and Natural Gas Corporation, Bharat Petroleum, Reliance Petroleum Ltd, Eneos Holdings, China National Petroleum Corporation, Shaanxi Yanchang Petroleum, Sinochem Group, China National Offshore Oil Corporation, TotalEnergies SE, Wintershall Dea GmbH, Repsol SA, Glencore International AG, Eni SpA, Edison, Enel X, Erg, Rosneft Oil Co, Lukoil Oil Co, Surgutneftegas, Tatneft, Novatek, Irkutsk Oil Company, OMV Petrom, PKN Orlen, Lotos Group, Moravské naftové doly, ConocoPhillips, Anadarko Petroleum Corporation, Occidental Petroleum Corporation, EOG Resources, Cimarex Energy, Pioneer Natural Resources, Suncor Energy Inc, Cenovus Energy Inc, Canadian Natural Resources Limited, AltaGas Ltd, Petrobras (Petróleo Brasileiro S.A.), QGEP Participações S.A., Petrogal Brasil S/A, Petronas Petróleo Brasil Ltda, EQUINOR ENERGY DO BRASIL LTDA., Emirates National Oil Company (ENOC), Dubai Petroleum., Emirates General Petroleum Corporation (Emarat), Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC), EMDAD Services LLC., Crescent Petroleum., Dana Gas., Egyptian General Petroleum Corporation, Egyptian Natural Gas Holding Co, Nigerian National Petroleum Corporation, Aiteo, Sasol Limited, Engen Petroleum Limited, African Exploration Mining and Finance Corporation, Tullow Oil, National Oil Corporation of Kenya.
Leveraging Big Data Analytics And Artificial Intelligence For Enhanced Decision-Making In The Oil And Gas Industry
Major companies in the oil and gas industry are looking into big data analytics and artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines, and other infrastructure through many sensors placed across the oil rig. Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions. Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/oil-and-gas-global-market-report
Key Segments -
The oil and gas market covered in this report is segmented -
1)By Type: Oil & Gas Upstream Activities, Oil Downstream Products
2) By Drilling Type: Offshore, Onshore
3) By Application: Residential, Commercial, Industrial, Other Applications
Sub segments: Crude Oil, Natural Gas, Oil And Gas Wells Drilling Services, Oil And Gas Supporting Activities, Refined Petroleum Products, Asphalt, Lubricating Oil And Grease
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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