Gabon Oil and Gas Downstream Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 0.11 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gabon Oil and Gas Downstream Market Analysis
The Gabon oil and gas downstream market is expected to witness a CAGR of more than 0.11% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the long term, increasing consumption of petroleum products is expected to boost the demand for the market studied during the forecast period.
- On the other hand, oil production has been reducing steeply over the past few years, which, in turn, is expected to hurt the refinery sector in the country in the future. The decreasing oil production in the country is expected to restrain the market in the forecast period, as it directly affects the throughput capacity of the refining sector in the country.
- Nevertheless, an increase in demand for refined petroleum products in the country is expected to boost the demand for new refineries, which, in turn, is likely to create opportunities for the companies operating in the industry.
Gabon Oil and Gas Downstream Market Trends
This section covers the major market trends shaping the Gabon Oil & Gas Downstream Market according to our research experts:
Oil Refining Capacity Growth to Remain Stagnant
- In 2021, no projects related to refineries were in the proposal stage, and only a few investments are expected in the refineries in the forecast period.
- The Port Gentil Refinery has a crude oil distillation capacity of 24,000 b/d. The refinery operates below capacity, and its output fluctuates due to maintenance challenges at the aging facility. Gabon's economy is heavily dependent on its oil production. Moreover, adding a downstream vertical may make the oil and gas supply chain more profitable.
- In November 2022, BW Energy's Hibiscus/Ruche development project off the coast of Gabon focused on the Hibiscus and Ruche fields, which are about 20 kilometers northwest of the Tortue field. In the first phase of this project, up to six horizontal production wells will be drilled as part of a 12-well phased program and connected to a production plant.
- The refining capacity is expected to remain stagnant in the forecast period due to the decreasing oil production and lack of investment in the downstream infrastructure.
Decreasing Production of Oil to Restrain the Market
- Gabon is a mature oil producer in West Africa that has been facing a declining output, for more than a decade.
- Oil production in the country decreased by 12.7%, to 9 million tonnes in 2020, from 10.4 million tonnes in 2021. Most of the oilfields in the country have reached maturity. The downstream industry is suffering, as the decrease in crude oil production is below the utilization capacity of the refineries. However, an increase in oil production may lead to the installation of new refineries.
- One of the most essential Gabon's crude oil blends is the Rabi, with an API gravity of 33.2, a high quality, low sulfur (0.14%) crude oil. The oil grade is of excellent quality and requires a low level of refining maintenance and equipment. The country exports 90% of its total crude oil production.
- Hence, the Gabon oil and gas downstream market is expected to grow meagerly in the forecast period, due to a decrease in oil production and aging downstream facilities.
Gabon Oil and Gas Downstream Industry Overview
The Gabon oil and gas downstream market is consolidated. The major companies ( not in particular order ) include Total SA, Eni SpA, Perenco SA, Gabon Oil Company, and Engen Petroleum Ltd.
Gabon Oil and Gas Downstream Market Leaders
Total SA
Perenco SA
Engen Petroleum Ltd
Gabon Oil Company
Eni SpA
*Disclaimer: Major Players sorted in no particular order
Gabon Oil and Gas Downstream Market News
- June 2022: Houston-based Vaalco Energy expects a surge in reserves and production after its third well in 2022 goes online later this month, as it completes the drilling of another well offshore in Gabon.
- November 2022: BW Energy is setting the wheels into motion to kick off its drilling campaign at a development project offshore Gabon. The project is on track for the first oil in late 1Q 2023.
Gabon Oil and Gas Downstream Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Refining Capacity Forecast, in thousand barrels per day, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 By Refineries
5.1.1 Overview
5.1.1.1 Existing Infrastructure
5.1.1.2 Projects in Pipeline
5.1.1.3 Upcoming Projects
5.2 By Petrochemicals Plants
5.2.1 Overview
5.2.1.1 Existing Infrastructure
5.2.1.2 Projects in Pipeline
5.2.1.3 Upcoming Projects
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Total SA
6.3.2 Eni SpA
6.3.3 Gabon Oil Company
6.3.4 Perenco SA
6.3.5 Engen Petroleum Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Gabon Oil and Gas Downstream Industry Segmentation
The processes of refining, marketing, and eventually selling petroleum products are referred to as downstream. In the downstream business, a corporation refines crude oil and natural gas and markets and sells petroleum products to wholesale and retail customers. Processed natural gas is often sold directly to electric and gas utilities.
The Gabon oil and gas downstream market is segmented by refineries and petrochemical plants. The report offers the market size and forecasts in revenue (USD Billion) for all the above segments.
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| By Petrochemicals Plants | |||||
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Gabon Oil and Gas Downstream Market Research FAQs
What is the current Gabon Oil and Gas Downstream Market size?
The Gabon Oil and Gas Downstream Market is projected to register a CAGR of greater than 0.11% during the forecast period (2024-2029)
Who are the key players in Gabon Oil and Gas Downstream Market?
Total SA, Perenco SA, Engen Petroleum Ltd , Gabon Oil Company and Eni SpA are the major companies operating in the Gabon Oil and Gas Downstream Market.
What years does this Gabon Oil and Gas Downstream Market cover?
The report covers the Gabon Oil and Gas Downstream Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Gabon Oil and Gas Downstream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Gabon Oil and Gas Downstream Industry Report
Statistics for the 2024 Gabon Oil and Gas Downstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gabon Oil and Gas Downstream analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
