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Key Takeaways. The oil and gas industry is broken down into three segments: upstream, midstream, and downstream. Upstream, or exploration and production (E&P) companies, find reservoirs...
The 2024 oil and gas industry outlook explores five trends and industry drivers that are expected to play an important role in shaping the strategies and priorities of O&G companies in the upcoming year: Energy transition: Prudently allocating capital and effectively executing clean energy policies.
World oil demand is on track to expand by just shy of 900 kb/d in 2024 and close to 1 mb/d in 2025, marking a sharp slowdown on the roughly 2 mb/d seen over the 2022-2023 post-pandemic period. China underpins the deceleration in growth, accounting for around 20% of global gains both this year and next year, compared to almost 70% in 2023.
In this introduction to the oil and gas industry, we provide a snapshot of the petroleum sector. What are the different oil and gas sectors? The energy sector has three key areas: Upstream, midstream and downstream. What is upstream? - Upstream is E&P (exploration and exploration).
Summary. The United States is the world’s top producer of oil and natural gas. The country’s economy runs on these fossil fuels, but producing and burning them releases greenhouse...
The United States oil and gas market is segmented by sector into upstream, midstream, and downstream. The report offers crude oil production and consumption forecasts (thousand barrels per day) and natural gas production and consumption forecasts (billion cubic feet per day).
Explore the top four trends – from strategic M&A to operational decarbonization – oil and gas companies should focus on in 2024. Learn more.
The Global Energy Perspective 2023 models the outlook for demand and supply of energy commodities across a 1.5°C pathway, aligned with the Paris Agreement, and four bottom-up energy transition scenarios. These energy transition scenarios examine outcomes ranging from warming of 1.6°C to 2.9°C by 2100 (scenario descriptions outlined below in ...
Global upstream oil and gas investment is on track to increase by an estimated 11% in 2023 to USD 528 billion, compared with USD 474 billion in 2022. While the impact of higher spending will be partly offset by cost inflation, this level of investment, if sustained, would be adequate to meet forecast demand in the period covered by the report.
Our 2023 oil and gas industry outlook explores five trends—from M&A activity to fuel retailing—that will shape the industry over the next 12 months.