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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 | Dec 2016

Fractured prospects: Fracking has the potential to reinvigorate an industry that is in decline

The Crude Petroleum & Natural Gas Extraction market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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
£26bn
Annual Growth 12-17
-10.8%
Annual Growth 17-22
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Profit
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Employment
27,494
Businesses
149
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 their extraction more efficient. The industry ramped up investment early in the five years through 2016-17 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 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

 


Industry ProductsRelated ReportsTable of Contents

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


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