The oil and gas industry includes exploration, extraction, drilling, refining, transportation of oil and gas.
The top five companies covered are Saudi Aramco, Exxon Mobil Corp., Royal Dutch Shell, BP Plc, and Sinopec Limited. Saudi Aramco was the largest company in the oil and gas market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global oil and gas market was valued around $5384 billion in 2017. Asia Pacific was the largest region in the oil and gas market in 2017, accounting for around 35% of the total market. The USA was the largest country in the market accounting for around 19% of the total market.
The oil and gas industry has improved its technology or leveraged that of its service suppliers to match with the world’s increasing hydrocarbon demand. Many oil and gas companies have made use of digitization, IoT and robotics to increase production with limited investment.
The oil and gas market is segmented into Oil and Gas Upstream Activities and Oil and Gas Downstream Activities.
Oil & Gas Upstream Activities is mainly involved in exploring, extracting, and manufacturing crude oil and natural gas. It consists of oil and gas wells drilling services, crude oil and natural gas production, and oil and gas supporting activities.
Oil & Gas Downstream Activities includes production of refined petroleum, asphalt, lubricants, and other petroleum products.