Malaysia Oil & Gas Market Analysis | Market Size, Share, Production, Consumption, Imports Data, and Forecast, 2023-2030
Rationalstat LLC
9 min read
Rationalstat LLC
Malaysia oil & gas market is expected to reach US$ 14.7 billion by 2030, with an annual growth rate of more than 2.6%- RationalStat
Wilmington, Delaware, Sept. 24, 2023 (GLOBE NEWSWIRE) -- Malaysia Oil & Gas Market was valued at US$ 12.3 billion in 2023 and is expected to grow at a significant CAGR of over 2.6% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Malaysia has significant onshore and offshore reserves of oil and natural gas. These resources have been critical to the country's economic development. While the Malaysian oil and gas sector has been an important economic driver, it is also influenced by global variables such as oil prices, geopolitical events, and changes in energy demand.
Furthermore, Malaysia's strategic location, combined with the country's considerable oil and gas reserves, is likely to have a good impact on the oil and gas market. In addition, the country is located near major energy-consuming markets in the Asia-Pacific area. Its strategic location enables efficient transportation and delivery of oil and gas products to these high-demand markets, strengthening the country's position as a regional energy hub.
According to a deep-dive market assessment by RationalStat, the Malaysia oil & gas market has been analyzed on the basis of market segments, including activity, drilling type, product type, and company ownership and geography/regions (including Western Malaysia, Southern Malaysia, Eastern Malaysia, Northern and Central Malaysia). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the Malaysia oil & gas market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the Malaysia oil & gas market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Malaysia Oil & Gas Market: Segmental and Market Share Analysis
On the basis of activity, the midstream segment is expected to hold a significant share of the market. Malaysia's and neighboring regions' demand for natural gas is growing. Most countries strive to limit their carbon emissions in order to control air quality in the environment, which has raised natural gas usage in many end-user categories.
On the basis of product type, crude oil segment is dominated the market and will flourish its dominance during the forecast period. As it is a versatile energy source and valuable commodity for various sectors.
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Malaysia oil & gas market include,
In March 2023, PETRONAS came into partnership with Phoenix Petroleum. The partnership focuses on jointly exploring opportunities in the Philippines.
In January 2023, JGC Corporation and Samsung Heavy Industries (SHI) won an engineering, procurement, construction, and commissioning (EPCC) contract from Petronas for Malaysia's first nearshore floating LNG complex. The proposed plant will be the world's first nearshore floating LNG facility. It will be completed in 2027 and will have a minimum annual capacity of 2 million tonnes of LNG.
Some of the prominent players and suppliers operating and contributing significantly to the Malaysia oil & gas market growth include Petroliam Nasional Berhad (PETRONAS), Shell Malaysia (Shell International B.V.), Exxon Mobil Corporation, Hess Corporation, Murphy Oil Corporation, Repsol, S.A., ConocoPhillips Company, JX Nippon Oil & Gas Exploration Corporation, Weatherford International plc, Fugro N.V., Shearwater GeoServices Holdings AS, Petro-Excel Sdn Bhd, Gas Malaysia Berhad, and Petro Teguh (M) Sdn Bhd, among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
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