Oil Downstream Activities Global Market Report 2022

Oil Downstream Activities Global Market Report 2022

  • March 2022 •
  • 300 pages •
  • Report ID: 6247584 •
  • Format: PDF
Major players in the oil downstream activities market are Royal Dutch Shell, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, BP Plc, and Chevron.

The global oil downstream activities market is expected to grow from $2,538.57 billion in 2021 to $2,884.23 billion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4,712.92 billion in 2026 at a CAGR of 13.1%.

The oil downstream activities market consists of sales of the post extraction activities for crude oil and natural gas by entities (organizations, sole traders or partnerships) that provide post extraction activities for crude oil and natural gas, including refined petroleum products manufacturing and asphalt, lubricating oil and grease manufacturing.

The main types of oil downstream activities are refined petroleum products manufacturing, asphalt, lubricating oil and grease manufacturing. Refined petroleum products manufacturing include transformation and refining of crude oil into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas, and petroleum naphtha. The different fractions include light distillates, middle distillates, heavy oils and is used in various applications such as crude petroleum comprises, natural gas extraction comprises

North America was the largest region in the oil downstream activities market in 2021.Asia Pacific was the second largest region in the oil downstream activities market.

The regions covered in the oil downstream activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Refineries are increasingly adopting carbon capture and storage techniques to reduce CO2 emission levels in the atmosphere.This technique involves trapping of CO2 at its emission source and transporting it to a different storage location which is actively monitored and measured.

This way CO2 is isolated from the atmosphere, thereby reducing emission levels.For instance, Quest, a partnership venture of Shell, Canada Energy and Chevron is fully integrated CCS project that captures CO2 produced from refineries and prevents it from entering the atmosphere by storing it in underground formations.

Globally there are about 15 large scale projects and 7 under construction projects with the capacity to capture about 40 million tonnes CO2 per annum, thus indicating the potential of CCS technology in minimizing carbon emissions.

The countries covered in the oil downstream activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.