Azerbaijan Oil and Gas Upstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Azerbaijan oil and gas upstream market is expected to grow at a CAGR of over 1.5% during the forecast period. Factors such as a surge in demand for crude oil and natural gas from European countries such as Italy, France, and others, along with increasing consumption within the country are expected to drive the Azerbaijan oil and gas upstream market during the forecast period. Moreover, the increased reliance of the country on exports and government policies to support the exploration and production of oil and gas is also likely to promulgate the market. However, the increasing benefits and country’s plan to increase the share of renewables in the energy mix, complemented by volatile crude oil prices are expected to hinder the growth of the market being studied.
Key HighlightsThe Azerbaijan oil and gas upstream market is moderately fragmented. Some of the key players are State Oil Company of the Azerbaijan Republic, BP PLC, Equinor ASA, Total SA, and Chevron Corporation.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook