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1、 IBISWorld Industry Report 08 March 2011 Global Oil and Gas Exploration and Production: B0531-GL DISCLAIMER This product has been supplied by IBISWorld Inc. (IBISWorld) solely for use by its authorized licenses strictly in accordance with their license agreements with IBISWorld. IBISWorld makes no r
2、epresentation to any person with regard to the completeness or accuracy of the data or information contained herein, and it accepts no responsibility and disclaims all liability (save for liability which cannot be lawfully disclaimed) for loss or damage whatsoever suffered or incurred by any other p
3、erson resulting from the use of, or reliance upon, the data or information contained herein. Copyright in this publication is owned by IBISWorld Inc. The publication is sold on the basis that the purchaser agrees not to copy the material contained within it for other than the purchasers own purposes
4、. In the event that the purchaser uses or quotes from the material in this publication - in papers, reports, or opinions prepared for any other person - it is agreed that it will be sourced to: IBISWorld Inc. Contents Industry Definition.3 ACTIVITIES (PRODUCTS AND SERVICES) 3 SIMILAR INDUSTRIES3 DEM
5、AND cleaning, acidizing and chemically treating wells; and capping wells. DEMAND the oil sands deposits of northern Alberta; and offshore fields in the Atlantic Ocean. Alberta contains the largest share of Canadas oil production, as it holds the majority of oil sands deposits and the bulk of the WCS
6、B. Canada has about 179.2 billion barrels of proven oil reserves, the bulk of which (over 95%) are oil sands deposits in Alberta. These reserves are much more difficult and expensive to extract and process than conventional crude oil. Canadas natural gas production is also concentrated in the WCSB,
7、particularly in Alberta. Canada has about 57.9Tcf of proven natural gas reserves. Mexico is a major global producer of oil, with output of about 2.6 million bbl/d in 2009. Under the Mexican constitution, the Mexican nation owns all hydrocarbon resources in the country and the government owned Petrol
8、eos Mexicanos (Pemex) is the sole oil operator. Pemex is the largest company in Mexico and one of the largest oil and natural gas companies in the world. Mexico has about 12.9 billion barrels of proven oil reserves, most of which consists of heavy crude oil. The largest concentration of remaining re
9、serves occurs offshore in the southern part of the country, especially in the Campeche Basin. Mexicos natural gas production, amounting to about 1.8Tcf in 2009, is relatively dispersed. Onshore fields in the northern part of the country provide about 38% of output, onshore fields in the south about
10、29% and offshore fields in the Gulf of Campeche the remainder. The single largest field is Cantarell, in the Gulf of Campeche and other major fields include Caan, Culebra and Muspac. Mexico has about 16.0Tcf of proven natural gas reserves, mainly in the south. Other regions The remaining regions com
11、bined account for about 22.5% of global oil and gas output. SEGMENTATION Global Oil and Gas Exploration and Production 08 March 2011 Copyright 2011, IBISWorld Inc. 13 South America produces about 7.0% of the worlds oil and gas, with the most important producing countries in this region being Venezue
12、la and Brazil. Venezuela, a founding member of OPEC, is one of the worlds largest exporters of crude oil (the sixth largest net oil exporter) and the largest in the Western Hemisphere. The oil sector is of central importance to the Venezuelan economy, accounting for over three-quarters of total Vene
13、zuelan export revenue, about half total government revenue, and about one-third of the countrys GDP. Brazil is also a substantial producer of oil and, to a lesser extent, gas, but is a net importer of both fuels. India and Central Asia accounts for about 6.0% of the worlds oil and gas production. Th
14、e largest oil producer in the region is Kazakhstan, followed by India and Azerbaijan, while substantial volumes of natural gas are produced in Turkmenistan and Uzbekistan. South East Asia accounts for about 4.5% of global oil and gas production, with the major producers of both commodities being Ind
15、onesia and Malaysia. North Asia, where China is the only producer of any substance, accounts for over 4.0% of global oil and gas output, while nearly all of Oceanias output (1.0% of the world total) comes from Australia. MARKET CHARACTERISTICS Global Oil and Gas Exploration and Production 08 March 2
16、011 Copyright 2011, IBISWorld Inc. 14 Market Characteristics MARKET SIZE The Global Oil and Gas Exploration and Production industry is expected to generate revenue of about $2.98 trillion in 2011, up from $2.48 trillion in 2006 (yielding average annual revenue growth of about 3.8%). Revenue is expec
17、ted to expand by a moderate 3.3% in 2011, building on the 27% rebound recorded for 2010. Most of the gain in revenue over the five years through 2011 will be due to increases in oil and gas prices well in excess of the general inflation rate. However, industry performance has been highly volatile ov
18、er this period. The industrys profit is expected to be about $2.19 trillion in 2011 and it is expected to contribute about 3.6% of global GDP. (All financial data in this report is stated in US dollars.) The industry is expected to produce about 74.5 million barrels of oil per day (bbl/d) and 111.4
19、trillion cubic feet (Tcf) of natural gas in 2011. Almost 60% of the oil produced will be traded internationally, compared with about 31.5% of natural gas output. The value of internationally traded oil and natural gas in 2010 is expected to be about $1.55 trillion. Output is dominated by Africa and
20、the Middle East, Europe and North America. The industry is expected to employ about 1.13 million people in 2011, paying wages amounting to about $55.2 billion. Environmental concerns associated with deep sea oil and gas drilling were given a new prominence in 2010, following the explosion of BPs Dee
21、pwater Horizon oil rig in the Gulf of Mexico and the subsequent massive oil spill. The US government enquiry into the incident laid blame at the feet of both the industry and regulators in the United States. Regulation there is set to be tightened and firms involved in oil exploration and drilling m
22、ay ultimately also face more stringent regulation in other jurisdictions. Oil and gas consumption are expected to expand moderately as global economic growth firms. Although OPEC is expected to hold its production to levels consistent with a world average oil price of about $100 per barrel, occasion
23、al shortfalls in output are expected to see prices spike at higher levels from time to time. In this climate, the industrys revenue is expected to expand by about 5.8% per year over the five years through 2016 to $3.96 trillion. LINKAGES Demand Linkages C1911-GL - Global Oil and Gas Refining and Mar
24、keting The bulk of global oil production is processed into a range of petroleum products by this industry. D3111-GL - Global Electric Utilities Electricity generation is an important end-use for natural gas, including LNG. D3121-GL - Global Gas Utilities The gas distribution and retailing sectors pr
25、ovide natural gas, including LNG, to end users. Supply Linkages B0811-GL - Global Oil and Gas Mining Support Services This industry provides a range of services to oil and gas producers, including the drilling and capping of wells. C2312-GL - Global Iron and Steel Pipe and Tube Manufacturing This in
26、dustry purchases a variety of steel pipe and tubes for use as oil and gas gathering lines. MARKET CHARACTERISTICS Global Oil and Gas Exploration and Production 08 March 2011 Copyright 2011, IBISWorld Inc. 15 C2541-GL - Global Civil Ship and Boat Building This industry purchases, leases or otherwise
27、relies on oil tankers and barges, as well as LNG and LPG tankers to transport its output. H4821-GL - Global Logistics - Shipping Shipping logistics companies are involved in the transportation of oil, LNG and LPG. H4841-GL - Other Global Transport Pipeline operators transport oil and gas both within
28、 individual countries and across national borders. H4913-GL - Global Marine Port Operation Marine port operators are involved in the handling of oil, LNG and LPG tankers. DEMAND DETERMINANTS Oil The demand for oil is a derived one - that is, it depends on the demand for other goods and services. Dem
29、and is also heavily influenced by global economic growth. The demand for transport (especially by road and air) is a key demand factor. Transport fuels account for the great bulk of petroleum product demand and, as a result, the most important products made from crude oil are petroleum and automotiv
30、e distillate (or diesel). Other products include jet fuel, liquefied petroleum gas (LPG), fuel oil, petroleum coke and asphalt. The demand for petroleum products (and, by extension, for crude oil) is closely linked to economic growth, as well as to underlying levels of activity. For example, develop
31、ed economies demand more petroleum products than developing economies with a similar population. Natural gas The demand for natural gas is less closely linked to economic performance than the demand for oil; it also reflects the availability of gas to end users. The availability of gas supply infras
32、tructure is a key demand factor. Within particular areas, gas usage tends to rise rapidly when supply infrastructure becomes available, before settling to a more moderate rate of expansion. Climatic conditions An important use for gas is as a heating fuel and, as a result, demand is higher in colder
33、 regions as well as in the colder months of the year. Extreme conditions can lead to large rises in demand and push up gas prices. Gas is also used in the generation of electricity, particularly in the generation of intermediate or peak load power (electricity used to meet seasonal or daily increase
34、s in demand). Unlike their nuclear and coal-fired counterparts, gas-fired power stations can be turned on and turned off relatively readily. In addition, although natural gas is a more expensive fuel than coal, it is less environmentally damaging. MARKET CHARACTERISTICS Global Oil and Gas Exploratio
35、n and Production 08 March 2011 Copyright 2011, IBISWorld Inc. 16 DOMESTIC AND INTERNATIONAL MARKETS Domestic and International Markets Trade Trade in this industry is high The trade trend is increasing Domestic and International Markets Analysis Global trade in oil and gas is high due to the uneven
36、distribution of the underlying resources, especially oil. Almost 60% of the volume of oil produced worldwide is traded internationally, while the share of gas output traded internationally is considerably lower, at about 31.5%. Regional shifts in trade occur for a number of reasons, including: chang
37、es in the resource base due to reserve depletion or the discovery and development of new resources; and acceleration in industrial development (for example in China and India). Oil The major exporting region for oil is Africa and the Middle East (about 60% of the total by volume), followed by Europe
38、 (18.5%) and then India and Central Asia (7.5%). The two single largest exporting countries are Saudi Arabia and Russia. The major oil importing region is Europe (about 29.5% by volume) followed by North Asia (25%) and North America (24%). Although the US is the single largest importer of oil, it is
39、 the only importer of any substance in the North American region. In contrast, Europe has several substantial importers, including Germany, France, Italy, Spain, the Netherlands and the UK. Similarly, there are several large importers in North Asia, namely Japan, China and the Republic of Korea. Oil
40、 trade occurs via both pipeline and tanker. Worldwide, there are about 4,000 oil tankers. International trade statistics from the COMTRADE database of the United Nations Statistics Division (in the accompanying tables) show the value of oil imports and exports for the major trading nations over the
41、period 2004 to 2008. Natural gas Most international trade in natural gas occurs via pipeline, although seaborne LNG trade is rapidly growing in importance. Gas is relatively expensive to store in large quantities, given its volatility and the volume of storage required. Reliance on pipelines limits
42、the distances over which gas can be economically transported and traded and, as a result, gas is less extensively traded than oil and no global market or standard pricing mechanisms exist. Instead, gas prices are set by agreement between the exporting and importing parties. Unlike traditional natura
43、l gas, LNG has the potential to be traded at the global level through storage facilities and ships that are specially designed to tolerate low temperatures. The main gas exporting region is Europe, followed by Africa and the Middle East, and North America. Europe has two of the worlds major gas expo
44、rters, Russia and Norway. Canada is the major gas exporter in North America, while Algeria dominates gas exports from Africa and the Middle East. MARKET CHARACTERISTICS Global Oil and Gas Exploration and Production 08 March 2011 Copyright 2011, IBISWorld Inc. 17 The major gas importing region is Eur
45、ope (nearly 60% of the total volume of imports) followed by North Asia and North America. In Europe, Germany, Italy, the Ukraine, France and Russia all import substantial volumes of gas. The US accounts for the great bulk of imports in North America (mainly from Canada and Mexico). In North Asia, th
46、e major importer of gas is Japan, followed by South Korea. International trade statistics from the COMTRADE database of the United Nations Statistics Division (in the accompanying tables) show the value of oil imports and exports for the major trading nations over the period 2005 to 2009. Internatio
47、nal Trade Statistics - Exports - Crude Oil (Top 5 Countries) Billion Dollars 2006 Billion Dollars 2007 Billion Dollars 2008 Billion Dollars 2009 Saudi Arabia 162.2 180.0 247.1 142.2 Russian Federation 96.7 114.3 151.7 93.6 Iran 50.2 N/A N/A N/A UAE 54.0 59.1 80.5 43.5 Nigeria 54.9 50.1 74.8 42.2 Sou
48、rce: United Nations COMTRADE database Note: United Arab Emirates (UAE) International Trade Statistics - Imports - Crude Oil (Top 5 Countries) Billion Dollars 2006 Billion Dollars 2007 Billion Dollars 2008 Billion Dollars 2009 US 233.2 253.0 363.4 200.6 Japan 99.0 103.8 155.5 80.0 China 66.4 79.9 129
49、.3 89.3 South Korea 55.9 60.3 85.9 50.8 India 47.6 54.1 86.6 64.9 Source: United Nations COMTRADE database International Trade Statistics - Exports - Natural Gas (Top 5 Countries) Billion Dollars 2006 Billion Dollars 2007 Billion Dollars 2008 Billion Dollars 2009 Canada 24.5 26.5 30.8 14.6 Russian Federation 42.8 42.8 66.5 40.3 Norway 21.8 26.2 34.8 29.2 Algeria 15.1 15.0 N/A 14.5 Qatar 11.9 9.5 16.2 N/A Source: United Nations COMTRADE database International Trade Statistics - Imports - Natural Gas (Top 5 Countries) Billion Dollars 2006 Billion D