What’s New with GlobalData's Oil & Gas Reports14 Oct 2011 • by Natalie Aster
Market Publishers Ltd informs that new GlobalData's Oil & Gas Reports have been added to its catalogue:
In 2010, the share of South East Asia in the Asia-Pacific refining market was 15.5%. With the increasing demand for refined petroleum products in the domestic and international markets, the South East Asia region has planned to increase its refining capacity to meet the demand. Consequently, the region’s share in the Asia-Pacific market is expected to increase to 17.5% by 2015. NOCs have a significant role in the South East Asia oil refining market. With no super-major companies planning refining capacity expansions in the region, it becomes imperative for NOCs to enhance their refining capacities. In 2010, International Oil Companies (IOCs) had a 42.5% share of the region’s refining market. By 2015, the share of IOCs will reduce to 28.0%. NOCs will grow to have a 40% share of the oil refining capacity in the region, and companies other than IOCs and NOCs will see their collective capacity share increase from 20% in 2010 to 32% in 2015.
Oil and gas exploration in the Arctic region is a high risk, high gain proposition for companies in the long run. Operating in the Arctic region will require highly experienced players that have the capacity to take and sustain risks. This will mostly restrict activities to large international companies with years of experience in oil and gas exploration. Construction of infrastructure in the Arctic region for oil and gas exploration requires huge investments due to the climatic conditions and the remote location of the region. Conducting exploration activities in the Arctic requires advanced technology that can withstand the harsh conditions of the Arctic, whilst minimizing damage to the environment. This will increase the cost of exploration and development in the region.
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