Dallas, May 25, 2021 (GLOBE NEWSWIRE) — The oil and gas industry is consisted of various operations like refining, drilling and extraction of oil and gas and some other operations as well. The market also includes the sales of sales of oil and gas by market entities that include partnerships, sole traders or organizations across the globe. The oil and gas market does not involve petrochemicals. The industry is bifurcated into oil downstream products and oil & gas upstream activities. The global Oil and Gas Market has been experiencing a massive escalation in the growth rate over the recent years. The upsurge in the market for Oil and Gas is accredited by number of growth propelling aspects. The ever growing market for automobiles across the globe has caused a need for natural gas and other fuels over the past few decades. This rising demand is considered being a major aspect driving the growth of the Oil and Gas industry.
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Oil and Gas Market Leading Players –
Nigerian Petroleum Marketing Company
Dangote Group
Tema Oil Refinery Ltd
Ivorian Refining Company
Brahms Oil Refineries Ltd
Eni S.p.A
Oil and Gas Market Breakdown by Type
Oil
Gas
Oil and Gas Market Breakdown by Application
Residencial
Commercial
Institutions
Others
The low interest rates on fuels and gases in developed regions are another major factor providing boost to the market growth. Over the years, global oil and gas market has observed some significant developments in terms of technology on global level. Many big companies in the oil and gas industry are looking up to adopting technologies like artificial intelligence (AI) and big data analytics in order to drive profits by improving decisions making abilities. The players in the market collect massive amounts of raw data functioning of pipelines, refineries, and other infrastructure with the help of wide numbers of sensors situated across the oil rig. By adoption of these technologies in companies they are able to detect patterns that act upon the potential defects or unwanted changes thus saving costs. Also the AI helps companies to take better operational and drilling decisions which in turn are boosting the growth of the oil and gas market across the globe.
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In early phase of COVID-19 pandemic due to several restrictive containment measures including the closure of commercial activities, remote working, social distancing, etc. the market had a little drop in the performance on global level. However, now that companies are recovering from the COVID-19 impact and rearranging their operations all these market challenges are eliminated and the market performance is also growing. The growth of the oil and gas industry is anticipated to be impeded by the Oil price volatility in different regions across the globe. In addition to that, the government and consumer spending on the oil and gas sector can also cause negative influence on the growth of the industry. Nevertheless, the ever growing demand for the gas and oil from various end-use industries are anticipated to offer lucrative opportunities in coming years.
Oil and Gas Market Table of Content
1 Introduction
1.1 Objective of the Study
1.2 Definition of the Market
1.3 Market Scope
1.3.1 Market Segment by Type, Application and Marketing Channel
1.3.2 Major Regions Covered (North America, Europe, Asia Pacific, Mid East & Africa)
1.4 Years Considered for the Study (2015-2027)
1.5 Currency Considered (U.S. Dollar)
1.6 Stakeholders
2 Key Findings of the Study
3 Market Dynamics
3.1 Driving Factors for this Market
3.2 Factors Challenging the Market
3.3 Opportunities of the Global Oil And Gas Market (Regions, Growing/Emerging Downstream Market Analysis)
3.4 Technological and Market Developments in the Oil And Gas Market
3.5 Industry News by Region
3.6 Regulatory Scenario by Region/Country
3.7 Market Investment Scenario Strategic Recommendations Analysis
4 Value Chain of the Oil And Gas Market
4.1 Value Chain Status
4.2 Upstream Raw Material Analysis
4.3 Midstream Major Company Analysis (by Manufacturing Base, by Product Type)
4.4 Distributors/Traders
4.5 Downstream Major Customer Analysis (by Region)
5 Global Oil And Gas Market-Segmentation by Type
5.1 Oil
5.2 Gas
6 Global Oil And Gas Market-Segmentation by Application
6.1 Residencial
6.2 Commercial
6.3 Institutions
6.4 Others
7 Global Oil And Gas Market-Segmentation by Marketing Channel
7.1 Traditional Marketing Channel (Offline)
7.2 Online Channel………Continued
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