Ecuador Oil & Gas Downstream Market by Types (Refineries and Petrochemical Plants) and Country (Ecuador) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The Ecuador oil & gas downstream market size is projected to expand at a CAGR of 1% during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for refined petroleum products.
Ecuador's refining sector is expected to grow significantly in the market during the forecast period owing to increasing demand for refined products from end-users. In 2018, Ecuador had a refining capacity of approximately 175 thousand barrels per day (b/d) of oil. Oil dominates Ecuador's energy mix.
The oil industry accounts for more than half of Ecuador's export earnings, and the US is one of the country's largest crude oil importers. Ecuador had 2.8 thousand billion barrels of proven oil reserves as of 2018. The majority of Ecuador's oil reserves are in the Amazon's Oriente Basin.
With increasing investments and rising competition, Ecuador's refining throughput increased by 2.1 percent in 2018, reaching 159 thousand barrels per day. The Government of Ecuador is looking for private companies that are interested in building a new refinery. Rising pollution has led the state-owned PetroEcuador to decommission its aging 110,000 b/d Esmeraldas refinery in 2019 and launch an international tender to build a new one for USD 6 billion. As a result, increased production is expected to propel the Ecuador oil and gas refining market during the forecast period.
The most uncertain factors influencing the market growth are technological advancements and environmental concerns that encourage EV adoption. Government policies that encourage or require the use of EVs or other alternatives are likely to reduce oil demand. Ecuador opened its largest electric charging station for electric cars, taxis, and buses in 2019, which is built by China's BYD. Various policies and incentives, lower vehicle prices, increased driving range, faster charging times, and zero-emission vehicles are expected to boost the EV market, negatively influencing the market growth. In 2019, the country sold a total of 103 units. In comparison to the previous year, this indicated a reduction of roughly 21% in the number of electric vehicles sold in the country.
Market Trends, Drivers, Restraints, and Opportunities
- Rising export of crude oil is expected to fuel the market growth during the forecast period.
- Rising electric vehicle (EV) demand across the globe can hinder the market growth.
- The COVID-19 outbreak disrupted the global oil & gas market, hampered the market in the country. However, relaxation in restriction is expected to help the market reach pre-COVID level by end of 2021.
- On-demand crude oil can create market opportunity in the projected timeline.
Scope of the Oil & Gas Downstream Market Report
The report on the Ecuador oil & 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 |
Ecuador Oil & Gas Downstream Market- Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2021 |
|
Historic Data |
2019–2020 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
Types (Refineries and Petrochemical Plants) |
|
Country Scope |
Ecuador |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
EP Petroecuador, Petroamazonas EP, Eni SpA, Total S.A., and Royal Dutch Shell Plc. |
Ecuador Oil & Gas Downstream Market Segment Insights
Refineries segment to account a major market share
Based on types, the Ecuador oil & gas downstream market is segregated into refineries and petrochemical plants. A refinery is a manufacturing facility that consists of a collection of chemical processing unit that refinish certain materials or convert raw materials into valuable products. Petrochemical plants convert natural resources such as crude oil, natural gas, ores, and minerals into a variety of products. They manufacture a variety of crucial building blocks for industrial processes, such as ethylene, propylene, butadiene, and aromatics.
Segments
The Ecuador oil & gas downstream market is segmented on the basis of
Types
- Refineries
- Petrochemical Plants
Country
- Ecuador
Key Players
- EP Petroecuador
- Petroamazonas EP
- Eni SpA
- Total S.A.
- Royal Dutch Shell Plc.
Competitive Landscape
The major players in the Ecuador oil & gas downstream market include EP Petroecuador, Petroamazonas EP, Eni SpA, Total S.A., and Royal Dutch Shell Plc.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share. PetroEcuador is expecting a proposal from a consortium led by Hyundai of South Korea and US contractor KBR to manage its 110,000 b/d Esmeraldas refinery. Ecuador, which departed Opec in early 2020, is presently producing roughly 505,000 barrels per day of crude, with PetroEcuador accounting for 80% of the total production. The rest comes from private companies such as Andes Petroleum and PetroOriental, two joint ventures between state-owned companies CNPC and Sinopec in China, which accounted for around 7% of total Ecuador's oil & gas output.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil & Gas Downstream Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil & Gas Downstream Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil & Gas Downstream Market - Supply Chain
4.5. Global Oil & Gas Downstream Market Forecast
4.5.1. Oil & Gas Downstream Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil & Gas Downstream Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Oil & Gas Downstream Market Absolute $ Opportunity
5. Global Oil & Gas Downstream Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Oil & Gas Downstream Market Size and Volume Forecast by Types
5.3.1. Refineries
5.3.2. Petrochemical Plants
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Oil & Gas Downstream Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Oil & Gas Downstream Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Oil & Gas Downstream Demand Share Forecast, 2019-2026
7. North America Oil & Gas Downstream Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Oil & Gas Downstream Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Oil & Gas Downstream Market Size and Volume Forecast by Types
7.4.1. Refineries
7.4.2. Petrochemical Plants
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Oil & Gas Downstream Demand Share Forecast, 2019-2026
8. Latin America Oil & Gas Downstream Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Oil & Gas Downstream Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Oil & Gas Downstream Market Size and Volume Forecast by Types
8.4.1. Refineries
8.4.2. Petrochemical Plants
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Oil & Gas Downstream Demand Share Forecast, 2019-2026
9. Europe Oil & Gas Downstream Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Oil & Gas Downstream Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Oil & Gas Downstream Market Size and Volume Forecast by Types
9.4.1. Refineries
9.4.2. Petrochemical Plants
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Oil & Gas Downstream Demand Share Forecast, 2019-2026
10. Asia Pacific Oil & Gas Downstream Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Oil & Gas Downstream Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Oil & Gas Downstream Market Size and Volume Forecast by Types
10.4.1. Refineries
10.4.2. Petrochemical Plants
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Oil & Gas Downstream Demand Share Forecast, 2019-2026
11. Middle East & Africa Oil & Gas Downstream Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Oil & Gas Downstream Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Oil & Gas Downstream Market Size and Volume Forecast by Types
11.4.1. Refineries
11.4.2. Petrochemical Plants
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Oil & Gas Downstream Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Oil & Gas Downstream Market: Market Share Analysis
12.2. Oil & Gas Downstream Distributors and Customers
12.3. Oil & Gas Downstream Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. EP Petroecuador
12.4.2. Petroamazonas EP
12.4.3. Eni SpA
12.4.4. Total S.A.
12.4.5. Royal Dutch Shell Plc.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil & Gas Downstream Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil & Gas Downstream Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil & Gas Downstream Market - Supply Chain
4.5. Global Oil & Gas Downstream Market Forecast
4.5.1. Oil & Gas Downstream Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil & Gas Downstream Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Oil & Gas Downstream Market Absolute $ Opportunity
5. Global Oil & Gas Downstream Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Oil & Gas Downstream Market Size and Volume Forecast by Types
5.3.1. Refineries
5.3.2. Petrochemical Plants
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Oil & Gas Downstream Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Oil & Gas Downstream Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Oil & Gas Downstream Demand Share Forecast, 2019-2026
7. North America Oil & Gas Downstream Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Oil & Gas Downstream Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Oil & Gas Downstream Market Size and Volume Forecast by Types
7.4.1. Refineries
7.4.2. Petrochemical Plants
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Oil & Gas Downstream Demand Share Forecast, 2019-2026
8. Latin America Oil & Gas Downstream Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Oil & Gas Downstream Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Oil & Gas Downstream Market Size and Volume Forecast by Types
8.4.1. Refineries
8.4.2. Petrochemical Plants
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Oil & Gas Downstream Demand Share Forecast, 2019-2026
9. Europe Oil & Gas Downstream Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Oil & Gas Downstream Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Oil & Gas Downstream Market Size and Volume Forecast by Types
9.4.1. Refineries
9.4.2. Petrochemical Plants
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Oil & Gas Downstream Demand Share Forecast, 2019-2026
10. Asia Pacific Oil & Gas Downstream Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Oil & Gas Downstream Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Oil & Gas Downstream Market Size and Volume Forecast by Types
10.4.1. Refineries
10.4.2. Petrochemical Plants
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Oil & Gas Downstream Demand Share Forecast, 2019-2026
11. Middle East & Africa Oil & Gas Downstream Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Oil & Gas Downstream Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Oil & Gas Downstream Market Size and Volume Forecast by Types
11.4.1. Refineries
11.4.2. Petrochemical Plants
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Oil & Gas Downstream Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Oil & Gas Downstream Market: Market Share Analysis
12.2. Oil & Gas Downstream Distributors and Customers
12.3. Oil & Gas Downstream Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. EP Petroecuador
12.4.2. Petroamazonas EP
12.4.3. Eni SpA
12.4.4. Total S.A.
12.4.5. Royal Dutch Shell Plc.
The Ecuador oil & gas downstream market is segmented on the basis of
Types
- Refineries
- Petrochemical Plants
Country
- Ecuador
Key Players
- EP Petroecuador
- Petroamazonas EP
- Eni SpA
- Total S.A.
- Royal Dutch Shell Plc.
The major players in the Ecuador oil & gas downstream market include EP Petroecuador, Petroamazonas EP, Eni SpA, Total S.A., and Royal Dutch Shell Plc.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share. PetroEcuador is expecting a proposal from a consortium led by Hyundai of South Korea and US contractor KBR to manage its 110,000 b/d Esmeraldas refinery. Ecuador, which departed Opec in early 2020, is presently producing roughly 505,000 barrels per day of crude, with PetroEcuador accounting for 80% of the total production. The rest comes from private companies such as Andes Petroleum and PetroOriental, two joint ventures between state-owned companies CNPC and Sinopec in China, which accounted for around 7% of total Ecuador's oil & gas output.
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