2014-04-16 22:56:03 - Crude Petroleum & Natural Gas Extraction in the UK - Industry Market Research Report - a new market research report on companiesandmarkets.com
The Crude Petroleum and Natural Gas Extraction industry has had to dig deep in order to overcome huge fluctuations in prices over the five years through 2013- 14. UK oil and gas production has declined since its peak in the late 1990s as existing fields have matured and developing new commercially viable sources has become ever more challenging.
Operators have been able to ride out uncertainty by forming partnerships to pool their resources and make their extraction more efficient. The industry has leveraged its position as one of the largest oil and gas producers in the European Union by engaging in substantial export trade. This has meant that operators have not had to rely on major domestic markets like petroleum refining,
which has consolidated over the past five years.
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