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DUBLIN, December 8, 2020 / PRNewswire / – Added report “Oil and Gas CAPEX Outlook: Growth, Trends and Forecasts (2020-2025)” ResearchAndMarkets.com’s offering.
Oil & Gas CAPEX is expected to grow at a CAGR of over 8.4% during the forecast period.
Factors, such as strong profitability following a trend to lower project costs and optimize portfolios, which has led to divestment of low-margin fields and a greater focus on investing in higher-margin growth opportunities, are expected to increase CAPEX during the forecast period.
Additionally, gas projects geared toward LNG are seeing increased investment as it is a less carbon-intensive fuel and helps in the transition to a lower-carbon economy. However, volatile crude oil and natural gas prices, along with slow global economic growth, are expected to constrain oil and gas CAPEX over the forecast period.
The upstream sector is expected to be the largest segment, which would have the highest CAPEX, as several state-owned companies in the region are prioritizing national oil and gas projects to improve energy security and reduce their dependence on imports.
Various greenfield projects, along with deep and ultra-deep water exploration in African countries such as Senegal Y Mauritania, they have ample opportunity to increase capital expenditures.
Pacific Asia has posted the largest gains in CAPEX and is likely to be the fastest growing region, due to the operations of the major global integrated companies alongside national oil companies and new investments during the forecast period.
Key market trends
Upstream sector to dominate the market
After the recession in the oil and gas industry, as crude prices rose, the upstream sector gained momentum and CAPEX accounted for a 5.5% year-on-year gain in 2019 and 7.2% in 2018. As various oil and gas projects continue to increase, 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. It is expected to attract higher spending to meet oil demand while ensuring energy security. In 2019, the IEA reported a CAPEX of USD 497 billion for upstream operations, with North America having the most participation.
- The number of final investment decisions (FIDs) for the upstream sector was more than 60, which was higher than the midstream and downstream sectors combined. Several upstream projects such as Agogo Oil Discovery and Glaucus Gas Discovery in Middle East Y Africa The region has attracted major players and CAPEX is expected to increase during the forecast period.
- The United States It is expected to lead oil supply in the next six years, supported by the shale industry, which has led to the transformation of the oil and gas industry, from zero in 2010 to 7 mb / day in 2019. exploration and production activities in the United States have led the country to export more oil than Russia and overtake Saudi Arabia in the next years. Therefore, increased investment in the shale industry is expected to boost CAPEX in the upstream sector.
- Therefore, to meet the strong global demand for crude oil and natural gas, more investment is required for exploration and production activities, which in turn is promulgating CAPEX in the oil and gas industry.
Pacific Asia dominate the market
Pacific Asia It is expected to witness significant growth in oil and gas CAPEX in the coming years due to recent discoveries in the offshore and onshore region, coupled with increasing demand for energy from countries such as China Y India.
- Capital spending in the oil and gas sector is expected to grow 7% year-on-year in 2020, which is the highest among all regions. The major oil and gas companies have increased their spending, led by Chinese state-owned companies, notably PetroChina and Sinopec. These companies have increased their spending on domestic oil and gas exploration and production and on mature field maintenance programs.
- From india State-owned ONGC is making progress on domestic oil and gas, which it plans to spend USD6.9 billion in 2020, from USD3.7 billion in 2019, to focus on developing assets in the Krishna-Godavari basin and new offshore deepwater blocks it acquired under the Open Acreage License Program in 2019.
- Furthermore, the energy consumption in Pacific Asia it is expected to grow 48% over the next three decades. China Y India have been the largest consumers of oil and gas in the Pacific Asia region, and the pipeline network is growing in both countries. Therefore, the CAPEX of oil and gas in the region is expected to increase during the forecast period.
Competitive landscape
The global CAPEX oil and gas 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 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 GENERAL DESCRIPTION OF THE MARKET
4.1 introduction
4.2 Market size and demand forecast in billions of dollars until 2025
4.3 Projection of production and consumption of crude oil until 2025
4.4 Projection of natural gas production and consumption until 2025
4.5 Historical capacity and forecast of the installed pipeline in kilometers, until 2025
4.6 Historical and production forecast of hard oil, oil sands and deepwater crude oil in kb / d, until 2030
4.7 Recent trends and developments
4.8 Government policies and regulations
4.9 Market dynamics
4.9.1 Drivers
4.9.2 Restrictions
4.10 Supply chain analysis
4.11 Analysis of Porter’s Five Forces
5 MARKET SEGMENTATION
5.1 Sector
5.1.1 upstream
5.1.2 Midstream
5.1.3 Downstream
5.2 Location
5.2.1 On land
5.2.2 Offshore
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Strategies adopted by leading players
6.3 Company profiles
6.3.1 Operating companies
6.3.1.1 PLC BP
6.3.1.2 Royal Dutch Shell PLC
6.3.1.3 Chevron Corporation
6.3.1.4 Total SA
6.3.1.5 Exxon Mobil Corporation
6.3.1.6 Oil and Natural Gas Corporation (ONGC)
6.3.1.7 China National Petroleum Corporation (CNPC)
6.3.1.8 Cairn Oil & Gas, a vertical of Vedanta Limited
6.3.1.9 Petroleo Brasileiro SA
6.3.1.10 Equinor ASA
6.3.2 Financial institutions
6.3.2.1 JPMorgan Chase & Co.
6.3.2.2 Citigroup Inc.
6.3.2.3 Bank of America Corp
6.3.2.4 Royal Bank of Canada
6.3.2.5 Barclays PLC
6.3.2.6 Deutsche Bank AG
6.3.2.7 Credit Suisse Group AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/y9sb1h
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