Industry Statistics and Trends
Crude Petroleum Extraction in Europe key trends
Geopolitical tensions have reshaped Europe’s oil landscape.
European nations have scrambled to diversify their fuel inputs following Russia’s invasion of Ukraine, while Western sanctions have forced Russia to redirect its crude oil exports.
Green ambitions threaten long-term growth prospects.
Efforts to decarbonise major downstream markets like transport and heavy industry are likely to weigh on demand for oil.
Access all insights and trends with purchase. View purchase options.
Crude Petroleum Extraction in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
Access the 5-year outlook with purchase. View purchase options
Crude Petroleum Extraction in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 5.6 % over the past five years, to reach an estimated €236.1bn in 2024.
Trends and Insights
Huge swings in oil demand and prices have rocked the industry
- Following an already damaging period for crude oil prices, a drop in global demand for oil led to a slump in prices during the pandemic, weighing on both exploration activity and overall economic returns.
Access all 7 market size insights and trends with purchase. View purchase options.
Crude Petroleum Extraction in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Geopolitical tensions will continue to shape the industry
- Oil prices are set to continue to ease as Europe reduces its dependence on Russian fossil fuels, though the potential for volatile swings in prices remains as the war rages on.
Access all 6 forward-looking insights and industry data forecasts with purchase. View purchase options.
Revenue
€236.1bn
Employees
348k
Wages
€XX.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
Explore all 37 country performance rankings and data sheets with your membership purchase.
Biggest companies in the Crude Petroleum Extraction in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
PJSC Rosneft Oil Company | 83,618.0 | 10,861.0 | 13.0 | |
Equinor ASA | 83,145.3 | 30,348.0 | 36.5 | |
PJSC Gazprom | 23,742.0 | 2,082.0 | 8.8 |
Access statistics and analysis on all 10 companies with purchase. View purchase options.
Crude Petroleum Extraction in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
Access all segmentation data and analysis with purchase. View purchase options.
Top Questions Answered in this Report
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Crude Petroleum Extraction industry in Europe in 2024?
The market size of the Crude Petroleum Extraction industry in Europe is €236.1bn in 2024.
How many businesses are there in the Crude Petroleum Extraction in Europe industry in 2024?
There are 1,336 businesses in the Crude Petroleum Extraction industry in Europe, which has grown at a CAGR of 5.0 % between 2019 and 2024.
Has the Crude Petroleum Extraction industry in Europe grown or declined over the past 5 years?
The market size of the Crude Petroleum Extraction industry in Europe has been declining at a CAGR of 5.6 % between 2019 and 2024.
What is the forecast growth of the Crude Petroleum Extraction industry in Europe over the next 5 years?
Over the next five years, the Crude Petroleum Extraction industry in Europe is expected to grow.
What does the Crude Petroleum Extraction in Europe include?
Onshore Crude Oil and Offshore Crude Oil are part of the Crude Petroleum Extraction industry.
Which countries have the most businesses in the Crude Petroleum Extraction industry in Europe?
The European country with the most businesses in the Crude Petroleum Extraction industry is Russia.
How competitive is the Crude Petroleum Extraction industry in Europe?
The level of competition is moderate and steady in the Crude Petroleum Extraction industry in Europe.
Related Industries
This industry is covered in 37 countries
- Crude Petroleum Extraction in Greece
- Crude Petroleum Extraction in the UK
- Crude Petroleum Extraction in Lithuania
- Crude Petroleum Extraction in Italy
- Crude Petroleum Extraction in Ireland
- Crude Petroleum Extraction in Latvia
- Crude Petroleum Extraction in Austria
- Crude Petroleum Extraction in Russia
- Crude Petroleum Extraction in the Netherlands
- Crude Petroleum Extraction in Estonia
- Crude Petroleum Extraction in Slovenia
- Crude Petroleum Extraction in Europe
- Crude Petroleum Extraction in France
- Crude Petroleum Extraction in Norway
- Crude Petroleum Extraction in Poland
- Crude Petroleum Extraction in Hungary
- Crude Petroleum Extraction in Sweden
- Crude Petroleum Extraction in Croatia
- Crude Petroleum Extraction in Spain
- Crude Petroleum Extraction in Romania
- Crude Petroleum Extraction in Czechia
- Crude Petroleum Extraction in Switzerland
- Crude Petroleum Extraction in Denmark
- Crude Petroleum Extraction in Germany
- Crude Petroleum Extraction in Bulgaria
Table of Contents
About this industry
Industry definition
Companies in this industry extract natural gas from onshore and offshore fields. The industry also covers the extraction of bituminous or oil shale and tar sand.
Related Terms
WINDFALL TAXHYDROCARBONPETROLEUM REFININGWhat's included in this industry?
Onshore Crude OilOffshore Crude OilCompanies
PJSC Rosneft Oil CompanyEquinor ASAPJSC GazpromIndustry Code
061 - Extraction of crude petroleum in Europe
View up to 10 companies with purchase. View purchase options.
Performance
Key Takeaways
Huge swings in oil demand and prices have rocked the industry
View more insights with purchase. View purchase options.
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Crude Petroleum Extraction in Europe industry (2011 -2029)
- Employees in the Crude Petroleum Extraction in Europe industry (2011 -2029)
- Business in the Crude Petroleum Extraction in Europe industry (2011 -2029)
- Profit in the Crude Petroleum Extraction in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Crude Petroleum Extraction in Europe industry?
Outlook
Analysis
What's driving the Crude Petroleum Extraction in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Crude Petroleum Extraction in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Crude Petroleum Extraction in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Demand for oil remains resolute from hard-to-abate sectors. Although decarbonisation efforts have eaten into oil consumption, sectors like transport and heavy industry have so far proved difficult to decarbonise.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Crude Petroleum Extraction in Europe industry's products and services performing?
Analysis
What are innovations in the Crude Petroleum Extraction in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Crude Petroleum Extraction in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Importer
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Partnerships on oil fields maintain a degree of fragmentation. Although limited oil reserves breed dominance of a few large multinationals and state-owned corporations, the prevalence of joint ventures ensures some involvement for small companies.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for PJSC Rosneft Oil Company
- Countries of operation for Equinor ASA
- Countries of operation for PJSC Gazprom
- Countries of operation for Aker BP ASA
- Countries of operation for ConocoPhillips Company
- Countries of operation for OMV AG
- Countries of operation for BP plc
- Countries of operation for TotalEnergies SE
- Countries of operation for Eni SpA
- Countries of operation for CNOOC Ltd
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Strict environmental and safety directives govern oil exploration and production. Oil companies must demonstrate technical expertise, financial strength, and robust safety measures before starting exploration or production.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Crude Petroleum Extraction in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Oil prices rocketed in 2022, boosting oil companies' profits. The jump in oil prices, triggered by increased demand and geopolitical instability, spurred record cash flows among oil companies.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Crude Petroleum Extraction in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
