Oil Refinery Plant

Oil and Gas Businesses in North America

The North American energy landscape is shifting in significant ways. The development of abundant tight oil and unconventional natural gas resources creates an historic opportunity to enhance economic growth throughout North America and improve the region’s competitiveness in global markets.

More than half of the world’s new oil and gas pipelines are located in North America, with a boom in US oil and gas drilling set to deliver a major blow to efforts to slow climate change, a new report has found.

Most of the onshore and shallow oil fields in North America have reached maturity, and there are few opportunities for discovering new fields in these areas. Nevertheless, the prospects for the exploration and production of deep sea deposits are very good.

To meet future global oil demand, opportunities lie in the deep sea bottom, where oil and gas operators continue to discover new reserves in the North American region.

The need to maintain and increase the recovery rate from these subsea wells has increased, and it is expected that it will grow further, which will lead to an increase in demand for lubricants.

It is expected that due to the increase in oil prices to a steady level in the coastal waters of North America, several offshore exploration and production projects will be launched, which, in turn, offers excellent opportunities for the growth of lubricant companies over the forecast period.

Oil and Gas Businesses in North America Statistical Data
Oil and Gas Businesses in North America Statistical Data

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