Heavy Oil
Saurabh More
Senior Research Analyst @ AMA Research & Media | Business Insights, Market Segmentation
Geographic Breakdown and Segment Analysis
The Global Heavy Oil market presents a comprehensive analysis of the Heavy Oil market by product type (Heavy Crude Oil {High Sulfur Crude Oil, Low Sulfur Crude Oil}, Viscous Crude Oil and Coal Tar Creosote), by end-user/application (Metallurgy, Gasoline, Diesel, Jet fuel and Machine Manufacturing), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Heavy Oil industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while theholds majority of market share of the Heavy Oil market
Influencing Trend:
Technology Advanced in Heavy Oil Products
Market Growth Drivers:
Augmented Value of Heavy Crude and Combined Deasphalting and Gasifer and Energy industry is Expanding Recourses to Recover Difficult to Remove Heavy Oil
Challenges:
Upgrading Heavy Oil leaves behind an even heavier residue and The difficulty of transporting it through Pipelines Because of its High Viscosity
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Restraints:
Environmental Issues such as Oil Spills difficult to clean up and High content of Toxins
Opportunities:
Rising Demand from Emerging Economics such as India, China and others
Market Developments Activities:
In September 2023, Lycos Energy Inc., Calgary, has agreed to acquire privately held Canadian heavy oil producer Durham Creek Exploration Ltd. (DECL), Calgary, for USD 22.5 million in a cash and stock deal. In July 2023, The Multi Commodity Exchange (MCX) informed that iCOMDEX Bullion Index October 2023 futures contract, and crude oil 25 October 2023 Option contract, will be available for trading with effect. It also stated that the contract specifications and trading parameters of the said contracts issued by it earlier, shall be binding on all the Members of the Exchange and constituents trading through them.