London, 11 February 2015 – TechNavio, a tech-focused research firm, has published a new report on the Global Onshore Oil and Gas Market 2015-2019.
The market is barely sustaining growth, with CAGRs of 0.8 percent and 0.2 percent for oil and gas, respectively, thanks to some serious challenges such as political instability. Widespread political turmoil in the Middle East is adversely affecting the market, as this region produces more than 25 percent of the world’s oil.
“The flow of funds and investment in onshore exploration and production is being hampered because of the loss of access to crude oil wells, which has led to insufficient capital returns,” says Faisal Ghaus, Vice President of TechNavio.
“Political risks like war, expropriation, fiscal changes, price increases, production restrictions, devaluation and embargoes may also affect investment and market growth.”
However, increased demand for oil and gas is anticipated to moderately boost the growth of the Global Onshore Oil and Gas Market through the projected period. The expansion of onshore oil and gas exploration and production activities and advances in technology in the field of oil production and processing will stimulate overall growth during the forecast period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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