Italy Oil and Gas Upstream Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Italy oil and gas upstream market is expected to grow at a CAGR of over 2% during the forecast period 2020-2025. Italy is a net importer of oil and gas, importing 92% of its oil and gas from countries like Russia and Libya while producing 8% of oil and gas in the country. At the same time, the energy demand of the country is constantly increasing, which is likely to drive Italy oil and gas upstream market during the forecast period. However, the Italian government is emphasizing on shifting towards renewable energy resources by 2030. Italy, in the past years, banned offshore upstream activities within 12 miles near the coast due to the deep-water Horizon incident in the Gulf of Mexico in 2010. Such moves by the government are expected to hinder the growth of the market in the coming years.
Key HighlightsThe Italy oil and gas upstream market is partially consolidated. Some of the major companies operating in the market include Eni SpA, Edison SpA, Royal Dutch Shell Plc, Total SA, and Saipem SpA.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook