Oil & Gas Downstream Companies (2024 - 2029)

Oil & Gas Downstream Market Companies Summary

The oil and gas downstream market is a fragmented industry with several key players dominating the sector. These corporations are involved in refining petroleum crude oil, processing and purifying raw natural gas, and marketing and distributing products derived from crude oil and natural gas. The global crude oil refining sector has witnessed significant growth due to increasing demand for refined products from the transportation sector. This has led to higher margins and encouraged investment in new projects. Despite the challenges posed by the COVID-19 pandemic and the Russian-Ukrainian war, these entities have continued to upgrade and plan their expansions. In the Asia-Pacific region, the demand for refined petroleum products has driven downstream firms to invest in new projects and expand existing facilities. These enterprises are also investing in the digitalization and modernization of the refining and petrochemical sectors, which are expected to reduce refining costs and process losses. The region is expected to dominate the oil & gas downstream market during the forecast period owing to the increasing investment in the refining and petrochemical sector and the expansion of existing downstream infrastructure. These companies are also venturing into renewable energy and are allocating a significant portion of their investments to expanding production, improving quality, increasing energy efficiency, and refining biofuels.