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.

Despite these uncertainties, the oil and gas industry’s capital discipline, increasing customer centricity, and investments in new technologies are poised to drive a robust 2025. The following five trends are expected to play a significant role: 1. The Permian Basin: Repositioning for growth.

In 2022, the oil and gas industry contributed $3.3 trillion to GDP and supported more than 80 million jobs worldwide. It helps drive the global economy, supporting 102.2 million barrels of daily oil consumption in 2023, with demand projected to exceed 120 million b/d by 2050.

Sep 25, 2024 · 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 gas...

Jan 21, 2025 · Growth in global oil production over the last two years has been led primarily by countries in North and South America, especially the United States, Canada, Guyana, and Brazil. Those four countries alone increased their total liquids production by a combined 1.1 million b/d in 2024. We expect they will increase their production by an ...

Dec 30, 2024 · 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).

Feb 4, 2025 · Crude oil is one of the most sought-after commodities in the world and demand is estimated at more than 104 million barrels per day. Its wide array of uses ranges from transportation fuels to...

Jan 8, 2025 · For oil and gas, rising oil prices have helped increase revenues and valuations, driving up companies’ firepower, while for chemicals the accumulation has primarily been driven by market cap increases outstripping debt issuance.

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 largest volume products of …

Jan 14, 2025 · The industry is pumping ever more oil and natural gas, but it is doing so with only about three-quarters as many workers as it employed a decade ago. By Rebecca F. Elliott Rebecca F. Elliott spoke ...