Sinopec (China Petroleum & Chemical Corporation) is the leading global oil and gas company by revenues generated. In the 12-month period leading up to August 2025, the Chinese state-owned enterprise generated ************** U.S. dollars in revenues. State-owned enterprises are largest producers State-owned businesses are among the largest within the oil and gas industry. Saudi Arabia's Saudi Aramco is the leading oil company worldwide based on daily oil production, at over ********** barrels per day. This is significantly more than the daily output of ExxonMobil. At ************* barrels of crude oil per day, it is the largest producer among public companies not majority owned by any state. The United States-based oil and gas giant ExxonMobil generated *********** U.S. dollars in revenues in the 12 months leading up to August 2025, coming in third in this list. Diversification of oil & gas portfolios Due to growing investor pressure and judicial court rulings, some oil and gas companies have been incentivized to increase the share of non-fossil fuel assets in their portfolio. Their efforts have been supported by an increasing number of investment funds and asset managers, with more diverse companies also often ranking higher in terms of brand value. Many European oil majors have already begun looking for clean energy ventures where their expertise may help them gain footing fast, such as offshore wind and blue hydrogen. This is also reflected in a growing share of low-carbon investments in overall capex.

In 2024, the total revenue of the United States’ oil and gas industry came to ******billion U.S. dollars. That was a decrease from the previous year, when U.S. oil and gas reached *** billion U.S. dollars. Figures peaked in 2022 as a result of decade-high oil and gas prices. The advent of shale oil and gas Following the financial crisis, investors in the U.S. sought to increase domestic production and reduce dependence on foreign oil and gas in turbulent international markets. Despite high start-up costs, shale gas and tight oil became economically viable to extract as the result of new methods such as hydraulic fracturing (also known as fracking). Production expanded rapidly in states with large permeable rock formations of sandstone, such as Texas and North Dakota. Changes in future shale production In addition to global market developments that impact short-term demand and prices, the trajectory of gross output in the oil and gas extraction industry largely precipitates the changes in U.S. oil revenue seen here. Going forward, production of U.S. shale gas and tight oil is expected to see only a moderate increase until 2050.

The global soybean oil market revenue amounted to $X in 2017, going up by X% against the previous year. Overall, the total market indicated a remarkable growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the soybean oil consumption increased by +X% against 2015 indices.

This statistic depicts the distribution of base oil revenue worldwide in 2017, by type. In that year, API group I & II products accounted for ** a percent share of the revenue in the global base oil market.

The global palm fruit oil market revenue amounted to $X in 2017, growing by X% against the previous year. In general, palm fruit oil consumption continues to indicate an outstanding expansion. The pace of growth was the most pronounced in 2017, when it surged by X% year-to-year. In that year, the global palm fruit oil market reached their peak level, and is likely to continue its growth in the immediate term.Global palm fruit oil production totaled X tons in 2017, increasing by X% against the previous year.

Snapshot img { margin: 10px !important; } Overview of the global turbine oil market

As per the Technavio’s market research report, the global turbine oil market is expected to grow at a steady rate and will post a CAGR of more than 3% during the forecast period. The rising awareness and concern towards the reduction of carbon emissions will drive the growth prospects for the global turbine oil market for the next four years. Consequently, the demand for electricity generation technologies such as gas turbines, steam turbines, and hydroelectric power systems that result in less carbon emission footprint is increasing, which, in turn, will surge the growth rate of the global turbine oil market. Factors such as the implementation of stringent carbon emission regulations on a global level focus on high performance and lower power generating cost and volatility in fuel cost will further drive the demand for high-efficient gas turbines. Moreover, various chief gas turbine manufacturers such as GE and Siemens are increasingly focusing on investing heavily in the development of high-efficiency gas turbines that will drive the demand for turbine oil.

According to our turbine oil industry analysis, the development of bio-lubricants will drive the growth prospects for the market until the end of 2021. Since these environment-friendly lubricants are consumed in lower concentrations in comparison with conventional metalworking fluids, possess outstanding oxidation and thermal stability, and excellent anti-wear properties, the popularity of these bio-lubricants will fuel the market’s demand for turbine oil.

Competitive landscape and key vendors

The global turbine oil market is a highly competitive due to the presence of a large number of regional and international vendors on a global level. These vendors in the motorcycle oil market are increasingly competing against each other based on factors such as price, quality, and market presence. Several regional or local turbine oil manufacturers are increasingly focusing on research and developmental activities to reduce the cost and improve the durability of lubricants.

Key vendors in this market are -

Castrol
Chevron
ExxonMobil
Royal Dutch Shell
Valvoline

Other prominent vendors in the market include Bharat Petroleum, ConocoPhillips, Eastern Petroleum, FUCHS, Gazpromneft – Lubricants, Indian Oil, LUKOIL Lubricants, and Petrelplus.

Segmentation by product and analysis of the turbine oil market

Synthetic oil-based lubricants
Mineral oil-based lubricants

The mineral oil-based lubricants segment accounted for the majority market share and dominated the market in 2016, and by 2021, it will continue to grow and dominate the motorcycle oil market. Mineral oil lubricants are made from crude oil and are the most widely available and affordable product in comparison to other lubricant types such as synthetic oils. Though the production of mineral oil-based lubricants is expected to decline due to the complexities of the machinery and stringent regulations, the growth of mineral oil-based lubricants segment will continue because of the initial price difference between synthetic oil-based lubricants and mineral oil-based lubricants.

Segmentation by geography and analysis of the turbine oil market

Americas
APAC
EMEA

According to the market research analyst, APAC accounted for the majority market share during 2016 and will continue to dominate the market in the coming years. The turbine oil market is experiencing a high demand for power generation in Southeast Asia and Australia regions, which will boost the number of installation of steam turbines. The market is also experiencing a rise in demand for gas turbine power generation. Furthermore, these power plants will require turbine oils for maintenance of their turbine operations, which, in turn, will propel the rate of revenue generation in the motorcycle oil market.

Key questions answered in the report include

What will the market size and the growth rate be in 2021?
What are the key factors driving the global turbine oil market?
What are the key market trends impacting the growth of the global turbine oil market?
What are the challenges to market growth?
Who are the key vendors in the global turbine oil market?
What are the market opportunities and threats faced by the vendors in the global turbine oil market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global turbine oil market?

Technavio also offers customization on reports based on specific client requirement.

Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data was reported at 0.000 RUB mn in Dec 2017. This stayed constant from the previous number of 0.000 RUB mn for Nov 2017. Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data is updated monthly, averaging 0.000 RUB mn from Jan 2008 (Median) to Dec 2017, with 120 observations. The data reached an all-time high of 1,090,369.020 RUB mn in Jan 2012 and a record low of 0.000 RUB mn in Dec 2017. Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data remains active status in CEIC and is reported by Federal Treasury. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FE004: Reserve Fund: Cash Flow (Discontinued).

Coconut oil market is valued at USD 6,925.95 Million approximately in 2025. The Global Market is expected to reach USD 1,3371.87 Million by 2035. The global market is expected to witness the highest growth rate and record a growth of 6.8% CAGR during this period.

Metric	Value
Market Size in 2025	USD 6,925.95 Million
Projected Market Size in 2035	USD 1,3371.87 Million
CAGR (2025 to 2035)	6.8%

Country-wise Outlook- Coconut oil market

Country	CAGR (2025 to 2035)
USA	7.0%

Country	CAGR (2025 to 2035)
UK	6.5%

Country	CAGR (2025 to 2035)
European Union (EU)	6.7%

Country	CAGR (2025 to 2035)
Japan	6.9%

Country	CAGR (2025 to 2035)
South Korea	7.1%

Competitive Outlook

Company Name	Estimated Market Share (%)
Cargill, Incorporated	17-21%
Archer Daniels Midland (ADM)	13-17%
Bunge Limited	10-14%
Marico Limited	7-11%
Nutiva Inc.	5-9%
Other Companies (combined)	35-45%

The global petroleum market revenue amounted to $X in 2017, surging by X% against the previous year. In general, petroleum consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011, with an increase of X% y-o-y. Over the period under review, the global petroleum market attained its peak figure level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.In 2017, approx.

In 2024, Saudi Aramco had a revenue of about ***** billion U.S. dollars. This was a slight drop from about ***** billion U.S. dollars in the previous year. Saudi Aramco overview Saudi Aramco, also known as Saudi Arabian Oil Company, is the world's largest oil producer. It was established in the city of Dhahran in Saudi Arabia. Over the past 80 years it became the world’s leader in hydrocarbons exploration, production, refining, distribution, and marketing. Saudi Aramco’s oil and gas production infrastructure leads the industry in production scale, operational reliability, and technical advances. Today, it is one of the most profitable companies worldwide, reporting a net income of over 100 billion U.S. dollars in the 2021 fiscal year. Saudi oil industry Despite experiencing a drop in 2020, the gross domestic product of the oil sector in Saudi Arabia was over *** billion Saudi riyals. Saudi Arabia has one of the largest oil reserve in the world, measuring more than ** billion metric tons. Oil production in Saudi Arabia exceeded ** million barrels per day. Moreover, it is the global export leader in the oil industry. The huge quantity of petroleum and the ease of extraction gave the country an edge over other oil producers, making them more cost effective.

Snapshot img { margin: 10px !important; } Overview of the oil and gas packer market

Technavio’s market research analysts have identified the increasing applications of packer as a downhole tool as one of the primary factors that will trigger the growth of the oil and gas packer market in the coming years. Well packer is an instrument that runs into the wellbore at a smaller initial diameter. The diameter is later expanded to seal the wellbore and the packer is needed for the well execution. After the well execution is done, isolation takes place where annulus from the production conduit is removed. The packer, as a downhole instrument, is important for the basic functioning of most wells, producers, or injectors. Packer offers several advantages such as prevention of the production casing from corrosion from produced fluids along with safeguarding from high pressures and helps in separating multiple producing zones. Technavio’s market research analysts predict that this market will post a revenue more than USD 2 billion by 2022.

The increasing shale and oil gas production is one of the key trends in the oil and gas packer market. Shale gas is used by several countries across the world to strengthen their energy security and reduce the emissions. The US reduced it's crude oil imports resulting in surplus crude oil in the market. Extraction of shale resources needs a huge amount of water for hydraulic fracturing and drilling. The decreasing imports by the US resulted in the emergence of hydraulic fracturing, consequently increasing the domestic supply.

Top companies listed in this report

The oil and gas packer market is fragmented due to the presence of several players. This industry research report provides information about the competitive environment among the players in this marketspace. Moreover, our analysts also provide strategies and areas that the vendors should follow to improve their market shares and sustain the competitive environment in the packer market.

The report includes an analysis of a number of companies in this marketspace including -

Dril-Quip
GENERAL ELECTRIC
Halliburton
National Oilwell Varco
Schlumberger
Weatherford

Segmentation by product and analysis of the oil and gas packer market

Permanent packer
Retrievable packer

The permanent packer segment accounted for the major share of the packer market during 2017. During the forecast period, this segment will continue to hold the maximum share and grow steadily.

Geographical segmentation and analysis of the oil and gas packer market

Americas
APAC
EMEA

The Americas accounted for the maximum shares of the packer market during 2017. Our analysts have predicted that the Americas will witness steady growth in the market share in the next five years.

Key questions answered in the report include

What will the market size and the growth rate be in 2022?
What are the key factors driving the global oil and gas packer market?
What are the key market trends impacting the growth of the global oil and gas packer market?
What are the challenges to market growth?
Who are the key vendors in the global oil and gas packer market?
What are the market opportunities and threats faced by the vendors in the global oil and gas packer market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global oil and gas packer market?

Technavio also offers customization on reports based on specific client requirement.

Oman Oil Sales: Sohar Refinery data was reported at 32,096.700 Barrel th in 2017. This records an increase from the previous number of 21,447.600 Barrel th for 2016. Oman Oil Sales: Sohar Refinery data is updated yearly, averaging 28,317.850 Barrel th from Dec 2008 (Median) to 2017, with 10 observations. The data reached an all-time high of 32,920.000 Barrel th in 2008 and a record low of 21,447.600 Barrel th in 2016. Oman Oil Sales: Sohar Refinery data remains active status in CEIC and is reported by Ministry of Oil and Gas . The data is categorized under Global Database’s Oman – Table OM.RB010: Oil Production and Sales: Sohar Refinery.

Crude Oil Production in the United States increased to 13844 BBL/D/1K in September from 13800 BBL/D/1K in August of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Total-Revenue Time Series for Baker Hughes Co. Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations. This segment also provides drilling services, drill bits, and drilling and completions fluids; completions, intervention, measurements, pressure pumping, and wireline services; artificial lift systems, and oilfield and industrial chemicals; subsea projects and services, flexible pipe systems, and surface pressure control systems; and integrated well services and solutions. It serves oil and natural gas companies; the United States and international independent oil and natural gas companies; national or state-owned oil companies; engineering, procurement, and construction contractors; geothermal companies; and other oilfield service companies. The IET segment provides gas technology equipment, including drivers, driven equipment, and turnkey solutions for the mechanical and electric-drive, compression, and power-generation applications; and energy sectors, such as oil and gas, LNG operations, petrochemical, and carbon solutions. This segment also provides rack-based vibrating monitoring equipment and sensors; integrated asset performance management products; inspection services; pumps, valves, and gears; precision sensors and instrumentation, and condition monitoring solutions. It serves upstream, midstream, downstream, onshore, offshore, and small-to-large scale customers. The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019. Baker Hughes Company was incorporated in 2016 and is based in Houston, Texas.

Oman Government Expenditure: Civilian: Oil Production data was reported at 329.000 OMR mn in 2017. This records a decrease from the previous number of 379.100 OMR mn for 2016. Oman Government Expenditure: Civilian: Oil Production data is updated yearly, averaging 119.300 OMR mn from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 484.600 OMR mn in 2014 and a record low of 76.200 OMR mn in 1991. Oman Government Expenditure: Civilian: Oil Production data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Oman – Table OM.F003: Government Revenue and Expenditure: Annual .

This statistic depicts the leading petroleum companies worldwide in 2017, by sales value. In that year, Sinopec was the leading company in the global petroleum market, with a sales value of approximately ***** billion U.S. dollars.

Turkey Crude Oil: Consumption: Fuels: Black Products: Fuel Oil 6 data was reported at 406,607.000 Tonne in 2017. This records a decrease from the previous number of 492,349.000 Tonne for 2016. Turkey Crude Oil: Consumption: Fuels: Black Products: Fuel Oil 6 data is updated yearly, averaging 1,857,890.000 Tonne from Dec 2000 (Median) to 2017, with 18 observations. The data reached an all-time high of 3,888,676.000 Tonne in 2002 and a record low of 406,607.000 Tonne in 2017. Turkey Crude Oil: Consumption: Fuels: Black Products: Fuel Oil 6 data remains active status in CEIC and is reported by Turkish Petroleum Industry Association. The data is categorized under Global Database’s Turkey – Table TR.RB005: Energy Statistics: Crude Oil: Sales and Consumption: Annual.

Global palm fruit oil market: In 2015, the countries with the highest levels of production in 2015 were Indonesia, Malaysia, Thailand, together accounting for 86% of total output.

The value added by the U.S. oil and gas extraction industry amounted to 257.03 billion U.S dollars in 2023. This was a notable decrease from the previous year, but an increase compared to before 2021 which saw a decline in oil product demand due to pandemic-induced lockdowns. Energy supply fears in the wake of the Russia-Ukraine war as well as a return to pre-pandemic level economic activity are partly responsible for the increase in value added noted in 2022. The close connection between 'value added' and crude oil prices The term 'value added' here refers to the difference between the industry's gross output and the cost of production. In the oil and gas industry, the annual value added is majorly influenced by the impact of world market developments on crude oil prices. As these prices underlay market speculation they are especially volatile. For example, the peak in value added recorded in 2022 comes as domestic first purchase prices for crude oil in the U.S. saw a major increase to over 90 U.S. dollars per barrel, benefiting producers in the country. In 2023, the price was nearly 76 U.S. dollars per barrel. Oil and gas industry's contributions to U.S. GDP Producing sectors have historically been a major contributor to the country's gross domestic product. However, as technological advancements have strengthened the service industry, the role of producing sectors declined. In 2023, mining (which includes oil and gas extraction) contributed 380.9 billion U.S. dollars to U.S. coffers. This made it the third smallest contributing just sector ahead of utilities and agriculture.

As per Cognitive Market Research's latest published report, the Global Food Grade Lubricants market size will be $353.43 Million by 2028. Food Grade Lubricants Industry's Compound Annual Growth Rate will be 5.25% from 2023 to 2030.

The Europe Food Grade Lubricants market size will be USD 108.54 Million by 2028. What is Driving the Grade Lubricants Market?

Rising demand for food & beverages industry

The food and beverage industry has a unique role in expanding economic opportunity because it is universal to human life and health. This industry operates various segments where billions of people grow, transform, and sell food, particularly in developing countries where agriculture dominates all other economic sectors. The global food & beverage industry has seen rapid growth over the last ten years and this is expected to continue. The global food and beverage industry is growing at around 5% a year and global expenditure on food products by consumers is expected to reach US$20 trillion by 2030.

Following graph shows the global revenue in the food & beverages industry which is projected to reach US $258,741 million in 2021.

Asia Pacific is the fastest growing region for the food & beverage industry due to rapid increasing population. India is forecast to have the strongest annual growth of food & beverage sales between 2017 and 2020, with 13.1%. Average annual growth in China reached to 11.2% over the last four years. Indonesia and the Philippines both countries expected to see a strong acceleration in growth, with forecasts of 10.1% and 9.6% respectively. After Asia Pacific region second most growing region for the food & beverage industry is Middle East & Africa, which is followed by the America.

However, food safety is a critical factor for food and beverage products. Chemical contamination is always a potential risk to food safety in food production facilities. Additionally, food grade lubricants protect the moving parts and solid surfaces of equipment by reducing wear, friction, corrosion, deposits and oxidation; dissipating heat; and transferring power. Hence, rise in the demand for food and beverage industry automatically drives the growth of food grade lubricants market globally.

Restraints for Food Grade Lubricants Market

Shortage of raw materials.(Access Detailed Analysis in the Full Report Version)

Opportunities for Food Grade Lubricants Market

The growing trend of healthy and nutritious food eating habits among consumer.(Access Detailed Analysis in the Full Report Version)

Definition of Food Grade Lubricants

Food-grade lubricants are the type of lubricants which perform the same function as that of other normal lubricant but are safer to use in the food, beverages, pharmaceutical industry etc. The equipment used for the product in industry required lubricants which provide protection against wear, friction, corrosion and oxidation, dissipate heat etc and to maintain the equipment and machineries in the optimal working condition and also enhances the life of the machineries and equipment.

Not all the lubricant use for other industries is applicable for the used in food, beverages and pharmaceutical industry as they contain harmful substances which may adulterate the food and drug and may causes toxicity in the food and drug or may led to degradation of food products. In order to overcome these challenges, the various agency such as FDA, United States Department of Agriculture, etc has come up with the food grade categories of lubricants which are safe to use in the food and pharmaceuticals industry. The agencies have approved lubricant for the usages in the such industries which offers the similar function as that of normal lubricants and also satisfy the safety parameter. Food grade lubricants are generally made from the edible oil, refined mineral oil, bio-based oil etc. and need the certain certification from National Sanitation Foundation, German Institute for Standardization (DIN) etc.

The food grade lubricant market is segmentate on the basis of type of food grade lubricants as H1, H2 and H3 lubricant grade, on the type of base stock used as mineral oil, synthetic oil and bio-based oil, The market is also segmented on the basis of application as food, beverages, pharmaceutical & cosmetics and more.

As the population is increasing all across the world, the consumption o...