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Nigeria Oil and Gas Upstream Market Survey Report 2019 Along with Statistics, Forecasts till 2024

Nigeria Oil and Gas Upstream

The Nigeria Oil & Gas Upstream Market covers important aspects of this market concerning fundamental parameters. The report explains outline of the business range, concentrating on the overall industry, development possibilities, types and application. It brief Nigeria Oil & Gas Upstream summary of the market considering the current and future scenarios. It also provides information in terms of development and its capacities.

Investment in the Nigerian upstream oil and gas sector declined by 13% annually, during 2015-2017, due to the downturn in the crude oil price.

The Nigeria Oil & Gas Upstream market is highly competitive and consists of a number of major players. Top Companies like Nigerian National Petroleum Corporation, Royal Dutch Shell PLC, Chevron Corporation, Exxon Mobil Corporation, and Total SA among others

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Scope of the Report

Oil and condensate production recovered in 2017 and is estimated to remain at the level of 2 million bbl/d in 2018. The drilling activity in the country is ramping up and is expected to continue on account of current and upcoming projects.

Key Market Trends

Attack on Oil & Gas Infrastructure

– Oil and gas production had been hampered in Nigeria in the past few years, due to the attack on oil and gas infrastructure by militants.
– In 2016, Shell, in Nigeria, witnessed roughly 700,000 barrels per day being deferred, due to pipeline vandalism. This resulted in costing the country revenue of about USD 13.3 billion.
– During the low international crude oil price scenario, in the past, coupled with the recession in the country, the fall in crude oil production, due to pipeline vandalism, was a serious problem and resulted in lowering the confidence of the investors from investing in new projects.
– Further, the US Department of Energy (DOE) issued a final rule to accelerate the approval process of small-scale export of natural gas, including LNG. The initiative aims to accelerate the DOEs processing of small-scale export applications and reduce administrative burdens for the small-scale natural gas export market. The rule will enable LNG projects with an estimated export capacity of one metric ton per annum or under, to avoid the current extensive permitting procedure.
– As a result, increasing investment in natural gas infrastructure including pipelines and LNG facilities to meet the growing demand for the same is expected to translate into huge investment in the coming years.

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What are the market factors that are explained in the report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Analytical Tools: Nigeria Oil & Gas Upstream Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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