DUBLIN--(BUSINESS WIRE)--The "Oil and Gas CAPEX Outlook - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas CAPEX is expected to grow at a CAGR of more than 8.4% during the forecast period.
Factors such as strong profitability following a trend to reduce project costs and optimise portfolios, which has led to divestment of low-margin fields and increased focus on investment in higher-margin growth opportunities, are expected to increase the CAPEX during the forecast period.
Moreover, LNG-oriented gas projects are witnessing increased investment, as it is less carbon-intensive fuel and helps in transition to lower carbon economy. However, volatile crude oil and natural gas prices, coupled with slow economic growth at a global level are expected to restrain the oil and gas CAPEX during the forecast period.
Upstream sector is expected to be the largest segment which would have the highest CAPEX, as several region's state-owned firms are prioritising domestic oil and gas projects to improve energy security and reduce their dependence on imports.
Several greenfield projects, along with deepwater and ultra-deepwater exploration in African countries such as Senegal and Mauritania, possess ample opportunity for increased capital expenditure.
Asia-Pacific has recorded the highest gains in CAPEX and is likely to be the fastest growing region, owing to operations of global integrated majors along with national oil company's and new investments during the forecast period.
Key Market Trends
Upstream Sector to Dominate the Market
- After the downturn in the oil and gas industry, as crude oil prices increased, upstream sector gained momentum and capex represented a gain of 5.5% y-o-y in 2019 and 7.2% in 2018. As number of oil and gas projects continue to increase, the upstream capex is also expected to increase during the forecast period.
- The upstream sector has almost 70% of the total capex allocated to the oil and gas sector and is expected to attract greater spending to fulfil the oil demand ensuring energy security. In 2019, IEA reported a CAPEX of USD 497 billion for upstream operations, with North America having the highest share.
- The number of Final Investment Decision (FID) for upstream sector was more than 60, which was greater than midstream and downstream sector combined. Several upstream projects such as Agogo Oil Discovery and Glaucus Gas Discovery in Middle-East and Africa region have attracted major players and is expected to increase in CAPEX during the forecast period.
- The United States is expected to lead oil-supply in the next six years, supported by shale industry which has led to transformation of the oil and gas industry, from nothing in 2010 to 7 mb/day in 2019. The exploration and production activities in the United States has led to the country exporting more oil than Russia and overtaking Saudi Arabia in coming years. So, increased investment in shale industry is expected to drive the capex in the upstream sector.
- Hence, to meet the strong global demand for crude oil and natural gas, more investment is required for the exploration and production activities, which in turn is promulgating the CAPEX in the oil and gas industry.
Competitive Landscape
The global oil and gas CAPEX market is moderately fragmented. Some of the key players are BP PLC, Exxon Mobil Corporation, Total SA, Chevron Corporation, and Royal Dutch Shell PLC.
Key Topics Covered:
1. INTRODUCTION
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Global Oil and Gas Industry CAPEX in USD billion, till 2026
4.3 Global Crude Oil Production and Consumption Forecast, till 2026
4.4 Global Natural Gas Production and Consumption Forecast, till 2026
4.5 Global Installed Pipeline Capacity and Forecast in Kilometers, till 2026
4.6 Historical and Production Forecast of Tight Oil, Oil Sands, and Crude from Deepwater in mb/d, Until 2026
4.7 Recent Trends and Developments
4.8 Government Policies and Regulations
4.9 Market Dynamics
4.9.1 Drivers
4.9.2 Restraints
4.10 Supply Chain Analysis
4.11 Industry Attractiveness - Porter's Five Forces Analysis
4.12 Analysis of the Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Sector
5.1.1 Upstream
5.1.2 Midstream
5.1.3 Downstream
5.2 By Location
5.2.1 Onshore
5.2.2 Offshore
5.3 By Geography
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Key Company Profiles (Overview, Key Projects/Products and Services, Financials*, and Recent Developments)
6.3.1 BP PLC
6.3.2 Royal Dutch Shell PLC
6.3.3 Eni SpA
6.3.4 Chevron Corporation
6.3.5 Total SA
6.3.6 Exxon Mobil Corporation
6.3.7 Equinor ASA
6.3.8 Marathon Petroleum Corp.
6.3.9 Phillips 66
6.3.10 National Petroleum Company (ENAP)
6.3.11 Petroleo Brasileiro SA (Petrobras)
6.3.12 Enbridge Inc.
6.3.13 Oil and Natural Gas Corporation (ONGC)
6.3.14 China National Petroleum Corporation (CNPC)
6.3.15 Saudi Aramco
6.3.16 Abu Dhabi National Oil Company
6.3.17 NK Lukoil PAO
6.3.18 China Petroleum & Chemical Corporation (Sinopec)
6.3.19 Gazprom Neft PJSC
6.3.20 NK Rosneft' PAO
6.3.21 ENEOS Holdings Inc.
6.3.22 Petroleos Mexicanos (PEMEX)
6.3.23 Kuwait Petroleum Corporation
6.3.24 Petroliam Nasional Berhad (Petronas)
6.3.25 PT Pertamina
6.4 CAPEX Market Share Analysis of Oil and Gas Operators
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/pkquyu
