Market Size of Malaysia Oil And Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 679.38 Thousand barrels per day |
| Market Volume (2029) | 728.29 Thousand barrels per day |
| CAGR (2024 - 2029) | 1.40 % |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
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Malaysia Oil and Gas Market Analysis
The Malaysia Oil And Gas Market size in terms of production volume is expected to grow from 679.38 Thousand barrels per day in 2024 to 728.29 Thousand barrels per day by 2029, at a CAGR of 1.40% during the forecast period (2024-2029).
- Over the medium term, factors such as supportive government policies, growing efforts to boost domestic oil and gas and LNG production, the surge in demand for refined petroleum products, and upcoming oil & gas projects and upgrades are expected to drive the market.
- On the other hand, the high volatility of crude oil prices due to many factors and the increasing adoption of renewable energy may restrain the market.
- Nevertheless, a high number of discoveries in recent years and ongoing exploration activities are expected to provide a significant opportunity for players in the country's oil and gas market.
Malaysia Oil and Gas Industry Segmentation
The oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.
Malaysia's oil and gas market is segmented by sector into upstream, midstream, and downstream. For each segment, the market sizing and forecasts have been done based on volume (thousands of barrels per day).
Malaysia Oil And Gas Market Size Summary
The oil and gas market in Malaysia is poised for growth over the forecast period, driven by supportive government policies and increased efforts to enhance domestic production of oil, gas, and LNG. The market is expected to benefit from a surge in demand for refined petroleum products and the initiation of new projects and upgrades. However, challenges such as the volatility of crude oil prices and the shift towards renewable energy sources may pose constraints. Despite these challenges, recent discoveries and ongoing exploration activities present significant opportunities for market players. Malaysia's strategic location and its role as a major producer and exporter of LNG further bolster its market position.
The refining sector in Malaysia is experiencing robust expansion, fueled by rising demand for refined products across various industries, including chemicals, petrochemicals, and transportation. The country has made substantial investments in refining infrastructure to meet domestic demand, with significant projects like the Refining and Petrochemicals Integrated Development Project (RAPID) in Johor. This facility is set to enhance Malaysia's refining capacity and produce environmentally friendly fuels. The market is moderately consolidated, with key players such as Petronas, BP, Shell, and ExxonMobil actively participating. Recent developments, including the construction of a nearshore floating LNG facility, underscore Malaysia's commitment to advancing its oil and gas sector.
Malaysia Oil And Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Crude oil Consumption Forecast in billion cubic feet per day, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Surging Demand For Refined Petroleum Products
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1.5.1.2 Significant Untapped Petroleum Reserves in the Sedimentary Basins
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1.5.2 Restraints
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1.5.2.1 High Volatility of Crude Oil Prices
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Upstream
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2.2 Midstream
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2.3 Downstream
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Malaysia Oil And Gas Market Size FAQs
How big is the Malaysia Oil and Gas Market?
The Malaysia Oil and Gas Market size is expected to reach 679.38 thousand barrels per day in 2024 and grow at a CAGR of 1.40% to reach 728.29 thousand barrels per day by 2029.
What is the current Malaysia Oil and Gas Market size?
In 2024, the Malaysia Oil and Gas Market size is expected to reach 679.38 thousand barrels per day.
