The Azerbaijan oil and gas downstream market size is expected to expand at a significant CAGR of more than 1.21% during the forecast period, 2021–2028. The growth of the market is attributed to the rising interest for flammable gas and increasing production of oil and gas.
One of the most important crude oil blends in Azerbaijan is BTC with an API grade of 36.6, which is a high-quality crude oil with sulphur content as low as 0.16%. The oil is of high quality and almost no maintenance and refining equipment are required. With the increase in oil and natural gas production, profitability is expected to increase during the forecast period due to the increase in country’s oil and gas production during the forecast period.
Upstream, midstream, and downstream are the three main sectors of the oil and gas business. The downstream industry includes the refining of petroleum crude oil, processing and purification of raw natural gas, and marketing & distribution of crude oil and natural gas-derived goods. Gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG), as well as hundreds of petrochemicals, are all products of the downstream industry.
The ongoing COVID-19 epidemic had a significant impact on many industries, but the worldwide oil and gas industry has been particularly heavily struck. Many oil and gas corporations have been forced to shut down Covid-19, which had an adverse impact on output in both upstream and downstream activities. The price drop of crude oil in a short period of time was perhaps the largest and most important consequence of the coronavirus epidemic on the downstream oil industry. Companies are turning to gas-to-liquid technology to reduce pollution and produce high-quality petroleum products.
The report on the Azerbaijan oil and gas downstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Azerbaijan Oil and Gas Downstream Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Refineries and Petrochemical Plants |
Country |
Azerbaijan |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
State Oil Company of Azerbaijan Republic, Total SA, KBR Inc., TechnipFMCplc, and Royal Dutch shell PLC. |
Based on process types, the Azerbaijan oil & gas downstream market is divided into petrochemical plants and refineries. The petrochemical plants segment is expected to hold a key share of the market during the forecast period. Petrochemicals are chemical compounds made from natural resources such as petroleum or crude oil. Chemical compounds generated by petrochemical facilities can also be made using natural gas, shale gas, or coal as a basic resource. Petrochemical-based end-user items include fuel, fertilizer, and oils, as well as everyday commodities like credit cards, milk jugs, and appliances. Olefins and aromatics are two types of petrochemicals made from petroleum. In 2018anew bitumen plant was installed, the Heydar refinery was modernized, and the first phase of the long-term planned 120,500 barrel/day refinery modernization project was completed, which aims to promote the growth of the industry. Heydar aliyev Baku oil refinery processes 21 kinds of Azerbaijan's, 24 kinds of petroleum, and 15 kinds of different petroleum products, including motor gasoline, aviation kerosene, diesel, heating oil, and petroleum coke.
The Azerbaijan oil and gas downstream market has been segmented on the basis of
Key players competing in the Azerbaijan oil and gas downstream market include State Oil Company of Azerbaijan Republic, Total SA, KBR Inc., TechnipFMCplc, and Royal Dutchshell PLC
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
The Azerbaijan oil and gas downstream market has been segmented on the basis of
Key players competing in the Azerbaijan oil and gas downstream market include State Oil Company of Azerbaijan Republic, Total SA, KBR Inc., TechnipFMCplc, and Royal Dutchshell PLC
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Some other reports from this category!