We welcome you to attend the 14^th International Conference and Expo on Oil and Gas during November 07-08, 2023 London, UK. We cordially invite all the interested participants in sharing their knowledge, research and gaining the information in the arena of petroleum and its allied areas.

Market Analysis

Oil & Gas Infrastructure Market size surpassed around USD 620 billion in 2022 and is projected to grow at over 6% CAGR from 2022 to 2030. Oil & gas infrastructure incorporates a stack of resources including pipelines, refineries, drilling platforms, terminals, storage facilities, and processing plants in oil & gas sector. Rising demand of natural gas in line with growing exploration and production activities will positively sway the business scenario.

Ongoing utilization of unconventional oil & gas assets including shale oil and tight gas along with advanced technological solutions for increased efficient production rate of oil & gas will drive the market penetration. Moreover, accelerating investment to increase the crude oil production and rising demand for light distillates will boost the industry landscape.
 

The oil & gas infrastructure sector is one of the adversely affected industries during the COVID- 19 pandemic. The major projects saw delays due to forced lockdown limitations across major part of the world. The decline in oil & gas demand due to the travel restrictions from the end user and industrial facilities affected the oil & gas utilization across the world.

A glance at a market of petroleum industry:

Global oil and gas production has increased over the last five years, from 81.15 Million barrels per day in 2009, to 88.67 Million barrels per day b 2014. This has led to the supply for oil & gas exceeding its demand which has ultimately caused a decline in the prices of crude oil during the last six months of 2022. Consequently, the oil and gas operators have reduced their capital expenditure outlook for 2022 citing concerns over low profit margins. This reduction has mainly impacted the upstream exploration and production (E&P) activities. However, the declining production from onshore oilfields in countries such as Russia, the U.K. and India among others has resulted in higher demand for exploring new offshore reserves. Drill pipe which are used to support drilling and exploration activities are expected to grow at a CAGR of 3.8% to reach USD 1,133.8 Million by 2020 from USD 940.62 Million in 2015. In this report, 2014 is considered as the base year and 2020 is considered as the forecast year. The report covers the grade of drill pipe as well as the application segments.

The oil & gas market is expected to grow from an estimated USD 3.22 Billion in 2016 to USD 4.54 Billion by 2021, registering a CAGR of 6.9% from 2016 to 2021. The global market is witnessing significant growth on account of the decline in natural gas prices, an increase in electricity demand, and low emission levels of the gas & oil compared to other fossil fuels. Increasing investments in distributed power generation are also expected to drive the demand for oil & gas across the globe.