Knowledge Tree
oil and gas industry
Also known as: oil and gas, oil and gas operations, oil and gas production, oil and gas sector, oil and gas industry
Facts (20)
Sources
Transitioning Away from Fossil Fuels - CEBRI cebri.org Sep 22, 2025 7 facts
referenceCatavento released the study 'Rethinking Transitioning Away from Oil and Gas in a Just, Orderly, and Equitable Manner' in December 2024, which introduced a framework to assess the ability of 11 major oil and gas producers and consumers to transition away from oil and gas.
measurementBetween 2018 and 2022, the oil and gas sector generated more than US$ 17 trillion in revenues, with nearly half of that amount directed to governments.
claimTransitioning away from oil and gas is a multilateral challenge that requires coordination across countries and sectors, as well as systemic shifts in both energy supply and demand.
claimOil and gas consumption is characterized by geographically dispersed, cross-sectoral, and highly globalized markets shaped by international trade and investment flows.
claimSaudi Arabia and the United Arab Emirates are notable for cost-competitive and emissions-efficient oil and gas production, while Norway is notable for low-emissions production across both oil and natural gas.
perspectiveA dual-track approach to energy transition is more effective than a single framework, as it allows for localized and sector-specific strategies for coal while managing the global complexities of oil and gas.
perspectiveThe debate on transitioning away from fossil fuels should advance along two distinct, but parallel, tracks for oil and gas (O&G) and coal, because the dynamics of reducing coal consumption differ substantially from those of oil and gas due to coal demand being more geographically and sectorally concentrated.
Energy asset stranding in resource-rich developing countries and ... frontiersin.org Jun 10, 2024 3 facts
claimOil and gas production in Nigeria is typically carried out by joint ventures between international oil companies, such as Shell and BP, and the state-owned Nigerian National Petroleum Company.
claimThe European Union is discussing the implementation of policy measures that would penalize exporters with high methane emissions, due to concerns regarding methane leakage associated with oil and gas production, according to Egging-Bratseth et al. (2022).
claimThe management of the oil and gas sector in Nigeria is characterized by extended patronage, contributing to low institutional quality.
Global perspectives on energy technology assessment and ... link.springer.com Oct 30, 2025 2 facts
measurementThe production of oil and gas accounted for 46.9% of Norway’s total export earnings in 2019.
referenceThe article 'The Energy Transition: Navigating the Shift Towards Renewables in the Oil and Gas Industry' by Alagoz E and Alghawi Y, published in the Journal of Energy and Natural Resources in 2023, examines the transition of the oil and gas industry toward renewable energy sources.
DOE reframes climate consensus as a debate - E&E News eenews.net Jul 31, 2025 1 fact
perspectiveChris Wright, while serving as CEO of Liberty Energy, argued that North Face could not manufacture its products without the oil and gas industry and that modern outdoor recreational pursuits would not exist without fossil fuels.
Research & Publications – Home - MIT Sites sites.mit.edu 1 fact
measurementThe United States is the world's largest producer of oil and gas.
Reforming Iran's Energy Policy: Strategies for Sustainability ... jpia.princeton.edu Apr 22, 2025 1 fact
claimIran's lack of economic diversification from oil and gas compounds fiscal instability, leaving the government heavily dependent on the energy sector for revenue generation, according to the World Bank (2024).
Energy Transition Literature - PSU Center for Energy Law and Policy celp.psu.edu May 20, 2024 1 fact
claimCommunities dependent on oil and gas face a disparity as the country shifts to clean energy because oil and gas laws lack clear mechanisms for community transition, whereas power sector law has some transition structures in place.
Tariffs: Estimating the Economic Impact of the 2025 Measures and ... richmondfed.org Apr 2, 2025 1 fact
claimSectors including oil and gas, petroleum and coal products, and agriculture-related goods like crops and forestry face lower average tariffs under the Richmond Fed's 'Scenario 2' model due to limited exposure to targeted trade flows or protection under existing trade agreements.
Iran and Middle East conflict impacts global economy - Deloitte deloitte.com Mar 18, 2026 1 fact
measurementApproximately 20% of the world's consumed oil and gas passes through the Strait of Hormuz.
An annotated analytic review of biosynthetic polymers and circular ... link.springer.com Mar 7, 2026 1 fact
referenceBerdugo-Clavijo C, Scheffer G, Sen A, and Gieg LM published research on the biodegradation of polymers used in oil and gas operations, focusing on enzyme biotechnology, in the journal Polymers in 2022.
Hydrogen in Oil and Gas: Decarbonizing the Industry Through ... - JPT jpt.spe.org Oct 10, 2025 1 fact
claimBlue and green hydrogen offer viable pathways for the oil and gas sector to reduce emissions while utilizing existing infrastructure, expertise, and investment capacity.