World upstream oil and gas activity is expected to remain at a high level in coming years, with the annual number of wells drilled increasing to over 115,000 in 2018. Although a sharp decline in oil prices in late 2014 will likely have a restraining effect on the upstream industry in the short term, global economic growth and continuously improving technology will support energy demand and investment in oil and gas projects. Some of the best upstream opportunities will be for natural gas, which presents a comparatively immature but gradually globalizing market. These and other trends are presented in World Upstream Oil & Gas Outlook, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
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Global demand for oilfield equipment is forecast to rise 3.8 percent per year through 2016 to $109 billion. Gains will be fueled by a substantial increase in oil and gas production as the world economy rebounds from the general economic weakness triggered by the 2009 global recession. Growth in oil and gas investment is expected to be especially strong in developing regions, where improving infrastructure will contribute to more drilling activity. These and other trends are presented in World Oilfield Equipment, a new study from The Freedonia Group, Inc.
The world market for fuel additives is forecast to grow 4.7 percent per year to 26.5 million metric tons in 2016, with demand in value terms advancing 8.0 percent per year to $59.4 billion. Total fuel additive demand in volume terms is heavily dominated by gasoline oxygenates, such as methyl tertiary butyl ether (MTBE). In 2011, ether oxygenates accounted for 94 percent of total demand. These and other trends are presented in World Fuel Additives, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Demand for oil and gas infrastructure equipment is forecast to rise 6.3 percent annually through 2016 to $12.1 billion. Advances will benefit from the development of shale plays, especially in areas that have not until recently been major energy producers. These areas will require additional infrastructure in order to economically transport oil and natural gas from the well site. For example, pipeline capacity at the Bakken Shale in North Dakota and Montana is expected to more than double by 2016. These and other trends are presented in Oil & Gas Infrastructure, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.