According to the
report analysis, ‘Monthly Global Upstream
Review, June 2018 – Middle East Leads Global Crude Oil And Condensate
Production’ states that the global production of oil and gas is
expected to grow more than 5.0% during the 2018 to 2022 outlook period.
Moreover, all about 488 planned and announced projects are anticipated to come
at an online platform across the globe by 2022. Whereas, the Asia Pacific
region leads with the highest number of planned and announced projects among
the regions, followed by Europe and Africa. Total production is anticipated to
grow approximately 63.0 billion boe by 2022. Furthermore, many new technologies
are setup on the field of oil and gas which have made unconventional sources of
oil and gas to produce, thus serving energy firm with effective opportunities.
The demand is growing more significantly by the ageing reserves by which the
market is becoming more competitive and the key players of this industry are
playing their role in an effective manner for defeating the demand more
significantly.
The companies of
Europe are projecting many projects for being an effective player of this
market and access to cheaper and more abundant feedstocks and energy and
surging the effective share in this market across the globe. However
unsurprisingly, the Europe’s Norway is the largest producer of gas and oil and
expanding more the business premises for attaining the more attention which
further can enable the employment opportunities. Moreover, the extensive
production of oil and gas effect the GDP more significantly with the export and
import of goods which are majorly related to both oil and gas.
In the recent last
years the demand for oil and gas is growing more effectively which is driven by
economic recovery, stronger heating demand caused by winter coil spells,
industrial activity and several other across the globe. With the growing demand
some of the major companies which are currently functioning in this sector for
attaining the handsome amount of share and making the market more competitive
and profitable includes Gazprom, Royal Dutch Shell Plc, Exxon Mobil Corp,
Petroleo Brazilerio SA, Rosneft Oil Co, Equinor ASA, China National Offshore
Oil Corporation, Eni SpA, Inpex Corporation and several others. Moreover,
across the globe many of the regions are playing effective role for development
in the economy and lead the demand for the upstream oil and gas production
which includes Africa, Asia, Caribbean, Central America, Europe, Former Soviet
Union, Middle East, North America, Oceania, and South America.
Undoubtedly, the
global oil and gas industry is growing in the last decade owing to significant
increase in demand for oil especially form the developing countries such as
India and China. Moreover, the primary hub for oil industry is the Middle East
which holds most of the oil reserves this putting them at a beneficial
position. Although, the world is moving towards the renewable source of energy
which could change the entire industry landscape. The need would also be met
hardly for the Asia Pacific and Europe region companies who are generating the
handsome amount of oil and gas in order to modify the share of this market and
will lead the market growth across the globe more significantly in the near
future over the decades.
To know more,
click on the link below:
Related
Report :-
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
