Energy is a major requisite for sustenance of life. The increasing population of the world has led to high demand of energy globally. Governments across the world are facing serious challenges for oil and gas production to meet the demand in their respective countries. The industry is remarkably turning the tables because of its valuable position in the world economy. Since it has become hype for investors who possibly take risks to benefit from this energy market, it has become a regular topic for research and analysis for the economists all over the world. Here is an outlook of historical data of oil and gas production and consumption over the years, along with a look on the emerging markets for the industry. The research basically analyzes the future of the industry.
The extent of research
1. To study the growing economy of the industry across the world
2. To study the rising flow of government's policies regarding the energy industry
3. To comprehend the barriers in the way of development of certain oil reserves
4. To identify the growth prospects of the changing energy sector
5. To focus on the industry in emerging nations such as China, Brazil, India, and Russia
Analysis of memorable parts
According to the analysis of US Energy and Information Administration, consumption of the world's petroleum products is expected to increase by a combined annual growth rate (CAGR) of 0.9% by 2035. It is also expected that the world's natural consumption may grow at a CAGR of 1.3% by 2035. Among the emerging nations of the oil industry, the economists' eyes are on Brazil for maximizing economic growth. Brazil would be a significant global oil exporter.
Need for research in oil industry
1. Any possible research will throw light on the largest producing and consuming nations in the oil and gas industry in the world at present.
2. It will also give a fair idea regarding key drivers and barriers on the oil economy.
3. The present and future scenarios of oil gas and oil consumption and market would become clear.
4. Impact of government's policies and regulations on the industry would be noted.
5. The non-OPEC countries are expected to hit the economy of gas and oil in the next decade.
Due to the high demand of oil and gas, experts emphasize on the usage of natural and renewable resources of energy. The future is uncertain and we have to start taking preventive measures as soon as possible.
Ateeya Manzoor is the Managing Director of Mayfair.
Ateeya Manzoor has worked with a large range of clients in various industries and sizes, ranging from large publicly traded financial institutions and technology firms, large resorts and entertainment venues, to midsized oil and gas companies, midsized medical and quasi medical coaching practices, to small non-profits requiring a fresh perspective. She held executive positions throughout her career on Bay St., including partner of a risk management firm, National Practice Leader, Vice President of a publicly traded brokerage house.
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