Dynamic Growth in Oil and Gas Sector Creates an Open Market for Logistics Providers, Suggests New Report
LONDON, August 30, 2013 /PRNewswire/ --
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration & production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service providers.
This is, in part, due to the emergence of substantial E&P activity in new locations which acts to drive up logistics spend. Ti's new report, Oil and Gas Exploration and Production Logistics 2013, identifies double-digit growth in the E&P logistics spend in Russia, Latin America, Africa and Asia Pacific for 2012. In Europe and the USA the market grew by 8% and 8.5% respectively.
In addition, the role of the largest oil companies, known as 'Super Majors' has declined as a proportion of overall activity, with independent companies becoming more adventurous in discovering fields and adopting technologies. The added complexities of new discoveries and new geographies as well as a disproportionate rise in logistics costs in the industry have created an attractive, open market for logistics service providers.
Therefore, the market for outsourced logistics in the conventional oil and gas sector is growing faster than the already impressive expansion in the sector as a whole. To compound this, the logistics demands of 'non-conventional' oil and gas resources are very different from those of conventional wells, whether they are on-shore or deep-sea. The potential here for logistics service providers is vast.
The variable nature of the market's supply chain is reflected in the specialist competencies shipping companies and LSPs offer the oil and gas industry. Thomas Cullen, Senior Analyst at Ti and lead author of the report suggested, "The oil and gas E&P sector continues to be highly attractive in terms of overall growth. However, logistics providers should consider the distinct logistics requirements of different market segments. It is a specialist market which rewards focus and commitment, but the growth prospects are variable depending on the type of logistics service provided," said Cullen.
Notes to Editors
About Oil and Gas Exploration and Production Logistics 2013
Transport Intelligence's new report, Oil and Gas Exploration and Production Logistics 2013, examines the structure, size and growth prospects of this unique market. The report draws upon expert research from Ti's senior analysts covering the oilfield, off-shore and unconventional oil and gas markets. It focuses on the geography of the market with an extensive array of illustrative maps outlining regional market size by CAPEX and OPEX spending, the growth of off-shore deepwater exploration, new discoveries in the oil and gas markets and a comparative analysis of key logistics service providers operating in the industry.
About Transport Intelligence
Transport Intelligence (Ti) is one of the world's leading providers of expert research and analysis dedicated to the global logistics industry. Utilising the expertise of professionals with many years experience in the mail, express and logistics industry, Ti has developed a range of market leading web-based products, reports, profiles and services used by all the world's leading logistics suppliers, consultancies and banks as well as many users of logistics services.
Matthew Campbell, Marketing Manager: firstname.lastname@example.org, tel: +44(0)1666-519915
SOURCE Transport Intelligence
More by this Source
Another Year of Decline, Says New Road Transport Report
Nov 18, 2013, 07:00 ET
Supply Chains Need to Adapt as Power Shifts to Emerging Markets, says New Report
Sep 19, 2013, 08:04 ET
New Report Claims 3.1% Growth in Freight Forwarding Market is Greatly Misleading
Jul 17, 2013, 06:03 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.