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Crude Petroleum & Natural Gas Extraction in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Crude Petroleum & Natural Gas Extraction Market Research Report | SIC B06.000 | Jun 2017

Slippery situation: Fracking could revitalise the industry, but revenue has declined significantly

IBISWorld’s Crude Petroleum & Natural Gas Extraction market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
BP plc BP plc market share
ConocoPhillips UK Limited ConocoPhillips UK Limited market share
Nexen Petroleum UK Limited Nexen Petroleum UK Limited market share
Industry Statistics & Market Size
Revenue
£22bn
Annual Growth 13-18
-11.9%
Annual Growth 18-23
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Profit
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Employment
28,861
Businesses
129
Industry Threats & Opportunities
  • Declining prices have resulted in significant contractions in revenue over the past five years
  • The maturity of domestic oil and gas reserves has caused investment to decline in recent years
  • Natural gas prices are expected to rise over the coming years, supporting a degree of growth
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Industry Analysis & Industry Trends

UK oil and gas production has declined since its peak in the late 1990s as existing fields have matured and it has become increasingly challenging to develop new commercially viable sources. Operators have been able to endure this instability by forming partnerships to pool their resources and make extraction more efficient. The industry ramped up investment during the early part of the five-year period through 2017-18 in an effort to soften the blow of declining output. However, price fluctuations have negatively affected industry revenue and have been responsible for the sharp fall in revenue since 2013-14.

Shale gas, which is extracted through the controversial practice of hydraulic fracturing (fracking), has emerged as a potential lifeline for the industry. A... purchase to read more

Industry Report - Industry Locations Chapter

Scotland

Scotland accounts for 30.6% of industry establishments, which highlights its dominant role in the Crude Petroleum and Gas Natural Extraction industry. Although this figure is high, the revenue derived from Scotland makes up an even higher share, comprising the vast majority of industry revenue. The UK continental shelf, located in the North Sea off the eastern coast of the United Kingdom, contains the bulk of the United Kingdom’s oil and gas reserves. Some gas is also extracted from standalone natural gas fields in the Southern Gas Basin, which is next to the Dutch sector of the North Sea, and standalone natural gas fields in the Irish Sea. The.. purchase to read more

Additional Insights for the Crude Petroleum & Natural Gas Extraction Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Crude Petroleum & Natural Gas Extraction Industry are

  • Economies of scale
  • Downstream ownership links
  • Ability to find new resource deposits
  • IBISWorld analysts also discuss how external factors such as World price of crude oil and World price of natural gas in the Crude Petroleum & Natural Gas Extraction industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Crude Petroleum & Natural Gas Extraction Industry?

    Firms in this industry extract crude oil and natural gas from onshore and offshore fields. The industry also includes the extraction of oil from oil shale and oil sands, as well as covering all activities relating to developing extraction sites and extracting oil and gas. The industry excludes test drilling, oil and gas services performed on a contract basis, surveying, the manufacture of industrial gases and the operation of pipelines.

    Industry Products
    Offshore crude oilOnshore crude oilOffshore natural gasOnshore natural gas
     
    Industry Activities
    Extracting crude oilExtracting natural gasExtracting condensatesDraining and separating liquid hydrocarbon fractionsDesulphurising gas


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • World price of crude oil
  • World price of natural gas
  • Natural gas reserves
  • Oil reserves
  • Demand from electricity production
  • Demand from petroleum refining
  • Exchange rate - US dollar per pound
  • Current Performance
  • Price fluctuations
  • Drilling down
  • Fracking concerns
  • International trade
  • Chart: Revenue Growth
  • Industry Outlook
  • Pricing pressures
  • Offshore oil
  • International trade
  • Table: Crude Petroleum & Natural Gas Extraction Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Crude Petroleum & Natural Gas Extraction Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Petroleum Refining
  • Organic Basic Chemical Manufacturing
  • Electricity Production
  • Gas Distribution
  • Key Selling Industries
  • Consultant Engineering Services
  • Pipeline Transport
  • Sea & Coastal Freight Water Transport
  • Steel Tube, Pipe & Related Fitting Manufacturing
  • Products & Services
  • Offshore crude oil
  • Offshore natural gas
  • Onshore crude oil
  • Onshore natural gas
  • Chart: Crude Petroleum & Natural Gas Extraction Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Exports
  • Domestic petroleum refining
  • Electricity generators
  • Households
  • Other industrial and commercial users
  • Chart: Major Market Segmentation for the Crude Petroleum & Natural Gas Extraction Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation
  • Wages
  • Production taxes and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Crude Petroleum & Natural Gas Extraction
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Crude Petroleum & Natural Gas Extraction Industry
  • Industry Globalization
    Major Companies
    BP plc
    ConocoPhillips UK Limited
    Nexen Petroleum UK Limited
  • Table: BP plc - financial performance
  • Table: ConocoPhillips UK Limited - financial performance
  • Table: Nexen Petroleum UK Limited - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Crude Petroleum & Natural Gas Extraction Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Crude Petroleum & Natural Gas Extraction Industry
  • Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Barrels Of Oil Equivalent
  • A unit of energy related to the energy released by one barrel of crude oil. It is used as a way of combining oil and gas reserves into one measure.
  • Fracking
  • The industry term for hydraulic fracturing. The process involves using water mixed with sand and chemicals to create and widen fissures in shale rock to release natural gas.
  • Oil Sands
  • A mixture of sand, water, clay and bitumen.
  • Oilfield
  • An underground or undersea deposit of oil contained in a stable geological formation.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Crude Petroleum & Natural Gas Extraction:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Crude Petroleum & Natural Gas Extraction market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Crude Petroleum & Natural Gas Extraction, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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