Oil and natural gas remain the world's leading fuels, accounting for nearly 55% of global energy consumption
Oil and natural gas, formed from decayed organic matter subjected to heat and pressure over millions of years, are key energy sources that have bolstered economic sectors such as residential heating, transportation, and manufacturing. However, their role in greenhouse gas emissions and environmental disasters like oil spills has pressured the industry amidst the low carbon transition. Despite this, over 100 countries produce these fuels, and they remain significant in the energy sector. The industry is split into upstream (exploration and extraction), midstream (transport and storage), and downstream (refining and sale). Product forms include natural gas, LPG, petrol, diesel, and other petrochemicals. Recent trends show increased use of natural gas due to its cleaner burn compared to oil and coal, the rise of LNG technology, and advancements in shale gas production. Future supply depends on new deposits and production technology, while CCUS developments will influence the long-term energy mix.
You can further explore the three sectors by clicking the links below:
Learn more about oil and gas extraction by exploring our Energy Insights.
For the latest news and articles on exploration and production read New Energy World.
Explore our dedicated collections on Road Fuels and Shale Gas.
0.0 %
of global electricity generation was fuelled by natural gas in 2023 (Statistical Review of World Energy)
0Mt
of methane emissions came from production and use of fossil fuels in 2023 (IEA)
0
supply chain jobs in decarbonisation of the UKCS, CCUS and hydrogen will be supported as part of the North Sea Transition Deal, published in 2021 (Department for Energy Security and Net Zero)
0Mt
of CO2 is currently captured annually from carbon capture facilities around the world (IEA)
What's new?
UK offshore energy sector faces mass redundancies
11th June 2025
Although the scale of offshore renewable energies can offset losses in oil and gas, the report warns that the UK still risks losing tens of thousands ...
Global energy investment is set to rise to $3.3tn in 2025 amid economic uncertainty and energy security concerns
11th June 2025
Investment in clean technologies – renewables, nuclear, grids, storage, low-emission fuels, efficiency and electrification – is on course to hit $2.2t...
Europe’s largest e-fuels plant has opened and the SAF market is taking off in the Americas
11th June 2025
Europe’s largest e-fuel production plant enters operation in FrankfurtGerman cleantech innovator INERATEC has officially launched ERA ONE,...
Indonesia unveils ambitious power plan as Southeast Asia ramps up renewables
4th June 2025
Indonesia to add 42 GW of renewable energy capacity in the next decadeIn late May, the Indonesian Ministry of Energy and Mineral Resources...
US scales up SAF with major developments
28th May 2025
Large-scale e-fuels production facility under constructionInfinium has announced that construction of its second US-based e-fuels producti...
Events and training
Human Factors Foundation - October 2025
6th October 2025 - 10th October 2025
This 5-day course delivers a comprehensive introduction into human factors for non-specialists. It provides a practical, engaging and interactive back...
Economics of the Oil and Gas Industry - October 2025
13th October 2025 - 14th October 2025
A 2-day introduction to the economics of the oil and gas industry. This course is suitable for students who are new to the oil and gas industry.
Maintenance Strategy Fundamentals - October 2025
17th October 2025 - 20th October 2025
In this 2 half-day training course on the 17 & 20 of October 2025, you will gain the fundamental knowledge and understanding to develop an efficie...
Introduction to LNG - October 2025
20th October 2025 - 21st October 2025
This 2-day training course provides an introduction to the LNG chain. Suitable for students who are new to the LNG sector and/or those with a non-tech...
Hazardous Area Classification - November 2025
4th November 2025 - 6th November 2025
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Instal...
Technical guidance publications
EI 3588
Recommended practices for methane emissions detection and quantification technologies – upstream
May 2025
Responding to the continuous advancement of technology, the Energy Institute, Ipieca, IOGP, and OGCI have updated their guidance and online tool to su...
EI 3199
Guidelines for the management of flexible hose assemblies
May 2025
This technical publication is intended for all personnel involved in the life cycle deployment of flexible hose assemblies (FHAs). It applies to FHAs ...
HM 6. General guidance on the test methods for sulfur determination
March 2025
HM6 provides a synopsis of the laboratory test methods for the determination of sulfur content for use in the quality control of petroleum and petrole...
EI 3268
Pipeline and riser loss of containment 2001 - 2020 (PARLOC 2020)
December 2024
The Pipeline and Riser Loss of Containment (PARLOC) report is the preferred source of risk assessment data for generic loss of containment frequencies...
HM 26: A guide to liquid metering systems
November 2024
This publication covers the specification, design, installation and operation of metering stations for high accuracy measurement of the bulk flow of l...
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Shale gas collection
The Shale gas Collection addresses the scientific and technological aspects of shale gas and its development. You can also download our publication: An Energy Essentials guide to shale gas
Oil & Gas training
The EI offers a comprehensive portfolio of oil and gas training courses.
