Oil & Gas

The statistic shows the development of global refinery capacity for crude oil from the year 1970 to 2014, measured in thousand barrels per day. In 1990, the world’s oil refinery capacity was around 74 million barrels per day and nowadays this figure has been risen to daily production of 96,51 million barrel*.

The current important trend in the oil and gas storage market is that as a result of increased logistics activity in the oil and gas sector due to increasing international and domestic trades, the demand for oil and gas storage capacity is witnessing a rise at the major global supply hubs*.

Pipeline and Gas Journal’s worldwide survey figures indicate that 118,623 miles (190,905 km) of pipelines are planned and under construction. Of these, 88,976 miles (143,193 km) represent projects in the planning and design phase; 29,647 miles (47,712 km) reflect pipelines in various stages of construction.

The latest statistic depicts the number of offshore rigs installations worldwide equal to 1470. As of this point, there were 213 in the Gulf of Mexico, 184 in the North Sea and 170 in South East Asia, closing the top three leading regions*.

The floating production, storage and offloading (FPSO) sector is likely to see between $80-$120 billion-worth of investment through 2019, and that is with the oil industry experiencing its worst downturn in a generation.