With production value of USD49.3 billion, the UK accounts for % of the Western Europe total in 2023. The industry’s exports share decreases in 2023 to 66.1% of total production output. The industry’s profitability decreases and stands at 67.4% of production value in 2023, the fourth highest regionally. The costs of the industry decrease by 10.3% in 2023, largely driven by declining B2B costs. The total number of companies decreases in 2023, to 4,957 units. The industry is fragmented, with the top five companies generating 19.1% of total production value in 2023. BP Plc is the largest company in the UK, generating 5.1% of the industry’s total production value in 2023. The UK has the second largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD86.8 billion in 2023. B2B drives market demand, with B2B spending representing 100% of total demand in 2023. The market is dominated by foreign suppliers, as imports account for 81.0% of total market size in 2023.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in the United Kingdom: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in the United Kingdom: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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