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?
SSE to build biofuels plant in Ireland
12/2/2025
The plant in County Kerry, in the south-west of Ireland, will run on sustainable biofuels with the potential to convert to hydrogen. Full construction...
‘Ambitious policy’ is needed to support decarbonisation of the global buildings sector, says ETC
12/2/2025
The global buildings sector currently contributes a third of greenhouse gas emissions (12.3 GtCO2 in 2022), according to the International Energy Agen...
North Sea oil and gas field developments delayed while third runway at Heathrow airport proposed: a week in the life of the UK energy transition
5/2/2025
Scottish court ruling on North Sea oil and gas fieldsFirst, a Scottish Court of Session ruled that government development consents for the...
China installs new record of 24 GW in Belt and Road power projects
5/2/2025
This record number marks a doubling of the capacity installed in 2023 and defines the highest level of investment since the launch of the B&R Init...
UK energy worker skills passport scheme launches in pilot phase
29/1/2025
The Energy Skills Passport aims to enable workers to identify which qualifications, such as technical and safety standards, are needed for specific ro...
Events and training
Safety Critical Task Analysis - Extended
10/3/2025 - 27/3/2025
A training course on Human Factors Safety Critical Task Analysis (SCTA) that can be taken over a month. Delegates will be able to facilitate SCTA sess...
Asset Management - March 2025
10/3/2025 - 11/3/2025
This 2 half-day training course will help you to understand the aspects involved in managing physical assets to develop and maintain your own strategi...
Hazardous Area Classification - April 2025
8/4/2025 - 10/4/2025
This 3-day training course will provide delegates with training on the Energy Institute Model Safe Code of Practice 15, Area Classification for Instal...
Addressing Misconceptions: Where Does Our Oil & Gas Legacy Stand Today?
17/4/2025
Event DetailsOn 17 April 2025, the Energy Institute Young Professionals Network (EIYPN) will host a LEARN event aimed at exploring the impact of globa...
Safety Critical Task Analysis April 2025
28/4/2025 - 2/5/2025
5 X 1.5hr seminars (and Bonus material) on Human Factors Safety Critical Task Analysis (SCTA).
Technical guidance publications
Health Technical Information Sheets
February 2025
Health technical information sheet 1: Individual health risk assessmentsIntroductionHealth risk assessments are carried out to determine the risk of a...
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...
HM 27. A guide to gas metering systems
October 2024
This publication covers the specification, design, installation and operation of metering stations for high accuracy measurement of the bulk flow of g...
EI 3015
EI Model code of safe practice Part 15: Area classification for installations handling flammable fluids
October 2024
Model code of safe practice – Part 15: Area classification code for installations handling flammable fluids (a.k.a. EI 15) provides guidance on the cl...
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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.
