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The petroleum industry, also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products.
The oil and gas industry should look to uphold capital discipline and prioritize viable low-carbon projects to help successfully navigate the changing energy demand landscape.
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 and drill oil and...
Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry. In order to continue a positive jobs and growth environment that oil and natural gas provides for Texas, TXOGA must be a modern-day voice for the industry.
Texas is one of the largest oil-producing states in the United States. The state is home to a number of different major oil and gas players, including BP, ConocoPhilips, Shell, and Valero...
Global oil demand is forecast to rise by a higher-than-expected 1.7 mb/d in 1Q24 on an improved outlook for the United States and increased bunkering.
After a steep decline due to COVID-19, oil demand increased to pre-pandemic levels in 2023 at 101.7 million barrels per day (MMb/d). However, growth may not last long, as peak demand is projected to materialize before 2030 across our four bottom-up energy transition scenarios.
In recent years, the United States has reclaimed its position as the world’s largest producer of oil and gas. But the price of oil is still determined by global consumer demand and the output of...
Divergent regional economic trajectories and the accelerating deployment of clean and energy-saving technologies are combining to progressively slow the pace of oil demand growth, with a plateau emerging in the final years of our forecast, which runs to 2030.
How much is the oil industry worth? Discover all relevant statistics and facts on the global oil industry and market now on statista.com!