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The global petrol and gas industry is a significant sector that plays a crucial role in the world's energy supply and overall economy. The sector generated annual global revenue of about $5 trillion in 2022. Oil and gas hold a significant position in the global economic framework, impacting everything from transportation to heating and electricity to industrial production and manufacturing plants. Any shortages in this sector may lead to heavy losses and affect the dollar value worldwide.
The oil and gas industry faces increasing pressure to adapt to the changing energy landscape. Many companies are investing in renewable energy sources, carbon capture, and storage (CSS technologies), and using biodegradable materials to protect the environment. Oil and gas are significant energy sources and are used in various sectors, such as transportation, petrochemicals, manufacturing processes, etc. The industry faces many challenges such as fluctuating oil and gas prices, geopolitical tensions, environmental concerns, and need for alternative energy sources. These factors are pushing companies around the world to adopt sustainable practices and invest heavily in eco-frıendly machinery.
The petrol and gas industry is one of the biggest and most valuable industries in the world. The country with the highest consumption of oil is the U.S., followed by China which is also the world’s leading oil importer. The amount of oil production worldwide in 2021 was 4.4 billion metric tons. Over 4 billion metric tons of oil is produced worldwide every year. The Middle East holds the greatest share of oil reserves, closer to 50% of the world. In 2022, the USA was revealed as the world’s largest producer of crude oil, followed by Saudi Arabia, Russia, Canada, and China.
The oil and gas industries in the USA account for 21% of the total global brand value of oil and gas companies in 2023. Electricity generation in the oil market is expected to reach a level of 0.77 tons kWh in 2023. The expected annual growth rate of the oil market is around 6.05% between 2023 and 2028.
The annual gas production worldwide was valued at 4.09 trillion cubic meters in 2022, showing a slight decrease compared to the previous year. The U.S., Russia, and Iran are some of the world’s biggest producers of natural gas. Around the world, there has been an increasing emphasis on renewable energy sources such as solar, wind, and hydropower. Governments and corporations are becoming increasingly conscious of the need to reduce greenhouse gas emissions and combat climate change, leading to bigger investments in renewable energy projects.
The petrol and gas industry is a highly relevant sector that tends to directly impact the global economy. Numerous exhibitions are held worldwide to reveal the latest developments and technologies in the industry. Some of the most important trade events in this sector include:
AOG Energy: With over 40 years in the business, AOG Energy holds a crucial position among the energy and gas industry exhibitions. It is an ideal platform for acquiring the latest technology information and meeting engineers, manufacturers, contractors, logistic experts, transportation service providers, and more. It is held in Perth, Australia at the Perth Convention and Exhibition Center.
Oil & Gas Africa: A key trade event for the African region where the leading oil and gas companies come together with their latest innovations. It takes place in Nairobi, Kenya, Africa’s major center of oil and gas activities. The event attracts trade visitors, buyers, suppliers, investors, and corporations from East and Central Africa as well as other key regions of the world.
Iraq Basra: An annual oil and gas trade show that takes place in Basra, Iraq, a place known for its oil reserves. It serves as a platform for oil and gas companies, service providers, equipment manufacturers, and other industry stakeholders to present their latest products and technologies. Many networking sessions, conferences, and workshops related to energy production and the future of the industry are conducted every year.
Iran Petrol and Gas: A notable energy and gas trade show held in Tehran, Iran, an important market for the global petrol and gas sector. Many domestic and international companies come together at the show and present their latest products, technologies, and services. It is an ideal platform to engage with the global community and experience the latest technologies in the sector.
Argentina Petrol & Gas: A biennial energy and oil exhibition where the entire industry meets and explores new ways of innovating the sector. The event covers various aspects of the oil and gas sector, including exploration, production, refining, petrochemicals, equipment, and technology.
The oil and gas sector plays a crucial role in the global economy and contributes significantly to the global GDP. The industry is based on a wide range of sectors involved in the exploration, production, refining, distribution, and marketing of oil and natural gas resources. The key sectors of the oil and gas industry include upstream, midstream, downstream, electricity sector, transportation, storage, energy refining, marketing, contractor services, food processing, construction, building, etc.