$4.2tr
$XXX.Xbn
4m
93,555
$XXX.Xbn
Global oil and gas production companies have gone through significant turbulence for most of the period. The pandemic and its accompanying lockdowns severely disrupted producers as revenue fell double digits and the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. While prices eventually came back down late in the period, they remained high. Overall revenue has pushed up at a CAGR of 6.0% to $4.2 trillion through the end of 2024, including a slight 1.9% uptick in 2024 alone. Profit also surged as purchase costs came down.
Industry revenue has grown at a CAGR of 6.0 % over the past five years, to reach an estimated $4.2tr in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
The Saudi Arabian Oil Company | 164,993.1 | N/A | N/A | |
PetroChina Company Limited | 108,548.1 | N/A | N/A | |
Public Joint Stock Company Gazprom | 104,206.2 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Natural gas, Crude oil and Natural gas plant liquids. Natural gas is the largest segment of the Global Oil & Gas Exploration & Production.
Dry natural gas suffered from prie drops
Operators in the Global Oil and Gas Exploration and Production industry explore for, develop and operate oil and gas fields. This industry includes the production of crude petroleum, the mining and extraction of oil from oil shale and oil sands, the production of natural gas, sulfur recovery from natural gas and the recovery of hydrocarbon liquids. Transport, refining and marketing activities are excluded from this industry.
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Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Global oil and gas exploration and production companies face intense competition primarily driven by price fluctuations. Key factors include crude oil grade extraction costs ...
Learn about the performance of the top companies in the industry.
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Regulatory bodies like the US Environmental Protection Agency, the UK's Department for Energy Security and Net Zero are working to mitigate the environmental impact of global ...
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Profitability in the oil and gas sector is closely linked to commodity prices, which can considerably impact revenue. Late price spikes toward the end of the period have kept...
Including values and annual change:
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The market size of the Global Oil & Gas Exploration & Production industry in Global is $4.2tr in 2024.
There are 93,555 businesses in the Global Oil & Gas Exploration & Production industry in Global, which has declined at a CAGR of 7.5 % between 2019 and 2024.
The market size of the Global Oil & Gas Exploration & Production industry in Global has been growing at a CAGR of 6.0 % between 2019 and 2024.
Over the next five years, the Global Oil & Gas Exploration & Production industry in Global is expected to decline.
The biggest companies operating in the Global Oil & Gas Exploration & Production market in Global are The Saudi Arabian Oil Company, PetroChina Company Limited and Public Joint Stock Company Gazprom
Oil and gas exploration and Crude oil extraction are part of the Global Oil & Gas Exploration & Production industry.
The company holding the most market share in Global is The Saudi Arabian Oil Company.
The level of competition is high and increasing in the Global Oil & Gas Exploration & Production industry in Global.