Which gas company is most likely to expand its cooling business?
Gas companies are the big losers from the oil price collapse, according to research by energy analyst, and the industry has had a tough time capitalising on the downturn.
Gas companies have suffered a massive drop in business in recent years as oil prices have dropped and the value of the oil and gas industry has plummeted.
But with gas prices at record lows, it is expected that more gas companies will expand their cooling business, according the latest research from energy consultancy firm Oil and Gas Watch.
The research suggests that more than a third of the gas companies in the oil & gas industry are now expected to be expanding their cooling businesses, the UK-based company said.
According to the study, the number of gas companies expanding their operations to cool buildings rose by a staggering 83% between 2015 and 2019, from about 823 to 1,093.
The figure for the oil companies fell from 709 to 626, and for the electricity sector from 679 to 569.
Gas cooling expansion is not just a business for the big energy companies.
The number of energy-intensive gas companies, such as Royal Dutch Shell, BP, Statoil and Chevron, is expected to fall by 25% over the next five years.
The oil &gas industry is expected lose around $2 trillion to $2.5 trillion (£1.5bn-£1.8bn) in annual profits over the period.
Gas company profits are likely to rise from $1.4 trillion (£831bn) this year to $1 trillion (£810bn) next year.
This is a very difficult time for the industry to grow, said Oil &.
Gas Watch CEO and research director Paul Johnson.
He said the downturn in oil prices had caused some gas companies to look to expand their business to provide a better alternative to electricity generation.
“The oil industry is one of the big players in the cooling business in the sense that they are a big player in electricity generation, so they’ve got a lot of customers and they are looking to invest in the energy-efficiency sector,” he said.
However, the energy company industry has struggled in recent months.
Gas prices have fallen as a result of the global recession, and are now below their peak.
Gas prices fell from around $50 a barrel to $30 a barrel, and have since been at around $25 per barrel.
The Energy Information Administration (EIA) said in its latest quarterly report that the gas price fell $1,300 (£879) per barrel, meaning gas prices fell by $2,200 (£721) per annum.
But Johnson said that while gas prices were down, the industry was struggling to make up for it.
“There’s no question that the price of gas has fallen because of the recession, but you can’t just say gas prices are down because of economic conditions,” he told Business Insider.
“It’s a tough situation for the energy industry.”
Gas prices are likely not going to rebound to where they were in 2015, and in the longer term, the company is also concerned that the cost of electricity generation could be going up, as more people are turning to gas-fired power plants.
“In the longer-term, if the price falls to where it was at that time, the cost to get power to the people who are using gas is going to be quite substantial,” he added.
Oil &.;Gas Watch’s research is based on data from EIA, the US Energy Information Agency (EIEA), the Bureau of Economic Analysis (BEA), and the US Department of Energy (DOE).
It is based off the assumption that gas prices will return to pre-crash levels and that gas companies are likely spending more on their cooling operations.
The study said the majority of gas-sucking gas companies would be re-establishing their cooling capacity, and would continue to do so for the foreseeable future.
However Johnson said the gas industry was also facing challenges.
“If you look at gas stations that are closing down, they’re finding that they’ve run out of money.
And they’re also finding that gas is cheaper now than it was a year ago,” he explained.”
They’re also having to look at whether they’re going to get new gas to the consumers.”
According to Oil &s;Gas Watch, gas stations are expected to close down between 20 and 50 per cent in 2019, and will continue to have to be built at a slower rate, because the economy is slowing down and people are looking for cheaper ways of heating.
The group has previously warned that gas was likely to remain a significant problem for many people in the US for a long time.
“Gas prices will continue going down, and that’s the real problem for people in terms of fuel prices,” Johnson said.
“We think that the big gas companies have to make a decision whether they