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November 8, 2018

Gazprom and Sinopec spend high across global oil and gas value chain

GlobalData’s latest report, ‘H2 2018 Top Global Oil and Gas Companies Planned Projects and Capital Expenditure Outlook - Gazprom and Sinopec Spend High across Oil and Gas Value Chain’ states that Gazprom, China Petrochemical Corp, and Royal Dutch Shell Plc are the top spenders among all oil and gas companies, in terms of new-build capex to be spent on planned and announced projects across the oil and gas value chain by 2025.

By GlobalData Energy

GlobalData’s latest report, ‘H2 2018 Top Global Oil and Gas Companies Planned Projects and Capital Expenditure Outlook – Gazprom and Sinopec Spend High across Oil and Gas Value Chain’ states that Gazprom, China Petrochemical Corp, and Royal Dutch Shell Plc are the top spenders among all oil and gas companies, in terms of new-build capex to be spent on planned and announced projects across the oil and gas value chain by 2025.

Gazprom tops the list with estimated capex of US$170.2bn expected to be spent on 93 oil and gas projects globally. Sinopec and Shell follow with capex of US$88.9bn (69 projects) and US$84.5bn (107 projects), respectively.

In the upstream sector, Shell leads among companies with an estimated capex of US$60.6bn to be spent on 58 planned and announced production fields globally. Gazprom follows next with US$43.6bn to be spent on 28 upstream projects.

In the midstream sector, Gazprom is expected to lead both pipelines and gas processing segments with new build capex of US$59.8bn, US$33.3bn, respectively. Qatar Petroleum is expected to lead the liquefaction capex with US$34.7bn, while CNOOC leads in regasification capex with US$3.9bn, during the outlook period. In the gas storage segment, Bendis Enerji leads with US$10.6bn and OIDB leads in liquids storage segment with capex of US$4.6bn by 2025.

On the downstream side, Saudi Arabian Oil Co is expected to lead with estimated capex of US$45.5bn on the development of seven crude oil refineries globally by 2025. Petroleos de Venezuela SA and Sinopec follow with capex of US$35.2bn and US$27.6bn expected to be spent on six new projects each, respectively.

In the petrochemical sector, Rosneft Oil is expected to lead with estimated capex of US$19.2bn to be spent on 39 upcoming petrochemical plants, followed by Dangote Industries with estimated capex of US$13.8bn expected to be spent on 13 new projects.

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