The Business Research Company’s Oil And Gas Upstream Activities Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The oil and gas upstream activities market consists of sales of crude oil and natural gas by entities (organizations, sole traders or partnerships) that undertake the pre-refining activities of crude oil and natural gas production. This is segmented into crude oil and natural gas pre-refining activities, oil and gas wells drilling services, and oil and gas supporting activities.
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Self-assembling rigs, rig-less plugging and abandoning (P&A) and era of digital oilfields are the major trends witnessed in the global oil and gas upstream activities market.
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The global oil and gas upstream activities market is further segmented based on type and geography.
By Type – The oil and gas upstream activities market is segmented into crude oil & natural gas, oil and gas wells drilling services, oil and gas supporting activities, among these segments, the oil and gas wells drilling services market accounts for the largest share in the global oil and gas upstream activities market.
By Geography – The global oil and gas upstream activities is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-pacific oil and gas upstream activities market accounts the largest share in the global oil and gas upstream activities market.
The influence of the oil and gas industry on different aspects of daily life is enormous. During 2013-2017 major environmental disasters such as the ‘Deepwater Horizon Gulf Of Mexico Oil Spill’ in 2013 brought a negative spotlight on the oil and gas industry . The drop in the oil price in 2015 also negatively impacted all oil-dependent economies in the world, especially Russian Federation bringing a financial crisis to the nation with the rapid collapse of its currency. The share of the world oil and gas industry revenue in the gross-world product (GWP) during this period decreased from 12% in 2014 to 6% in 2017, but the forecast for this market is promising.
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This post was originally published on The Market Plan