The Ecuador Oil and Gas Midstream Market Report Forecast 2021 – 2025 offers a clear understanding of the subject matter. The report has been gathered using principal and subordinate research methodologies. Both these methods are directed towards cooperating accurate and meticulous data concerning the market dynamics, historical events, and the current market landscape. Additionally, the report also includes a SWOT analysis that concludes the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report also takes into account the impact of the COVID-19 and also forecasts its recovery post-COVID-19.
The oil and gas midstream market in Ecuador is expected to grow at a CAGR of more than 1.03% during the forecast period of 2020 – 2025.
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Top Key Players in the Ecuador Oil and Gas Midstream Market: Eni SpA, OCP Ecuador, Techint International Construction Corp., Sycar LLC, and Occidental Petroleum Corporation, etc.
Key Market Trends
Transportation Sector to Witness Growth
– Ecuador exported 10,609.923 b/d of crude oil in 2018. Crude oil is Ecuadors top export commodity, accounting for about 33% of Ecuadors export revenue in 2018. Ecuador was the third-largest source of foreign oil for the United States, Canada, etc.
– The government is encouraging the exploration & production activity in new blocks. On September 2018, the government presented 7 new blocks for exploration and production activity in the Sucumbios province for bidding.
– The projects were awarded to Petrozamora S.A., Grand Tierra Energy LLC, and Frontera-Geopark. As part of these projects, cumulatively, these companies are committed to drilling 27 exploration wells.
– Thus, these new field is likely to increase the oil and gas capacity of the country. Which in turn is expected to require strong mode of transportation for crude oil. Thus, this is expected to increase the market for transportation sector in the country.
Liberalization of the Oil and Gas Market to Drive the Market
– Ecuadorian economy is heavily dependent on the upstream oil and gas sector. For example, oil and gas exports accounted for about two-third of the countrys total exports in 2019. Hence, similar to the major oil producing nations with heavy dependence on the oil & gas sector, since 2014, the GDP has registered negative or slow growth rate owing to low oil prices.
– In 2019, the Ecuador GDP has registered a 1.2% growth rate, when compared to 1.4% in 2018. For Ecuador, the export revenue from crude oil was almost 40% less in 2019 compared to 2014. Therefore, this has negatively impacted the GDP growth rate in Ecuador.
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This Ecuador Oil and Gas Midstream Market report addresses:
– The Market size from 2015-2020
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
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Covid-19 Impact Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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