Petroleum is the most used fuel source in the United States, with a consumption level of 35.35 quadrillion British thermal units in 2024. Natural gas is the second-most common fuel source, with consumption levels rising closer to that of petroleum over recent years. Petroleum use post-financial crisis Petroleum in the United States is primarily used for fueling the transportation sector, generating heat and electricity, as well as in the production of plastics. U.S. consumption of petroleum was at its highest before the 2008 global financial crisis, when the price of crude oil rose dramatically. Petroleum consumption began to increase again in 2013, before dropping significantly as a result of the COVID-19 pandemic. The rise of natural gas While petroleum consumption has been lower in the last decade than in the early 2000s, the use of natural gas has risen significantly. Natural gas consumption in the United States has seen record highs in recent years, in part due to lower costs and its growing popularity. The U.S. currently produces more natural gas than any country in the world, followed by Russia.

This table contains figures on the supply and consumption of energy broken down by sector and by energy commodity. The energy supply is equal to the indigenous production of energy plus the receipts minus the deliveries of energy plus the stock changes. Consumption of energy is equal to the sum of own use, distribution losses, final energy consumption, non-energy use and the total net energy transformation. For each sector, the supply of energy is equal to the consumption of energy.

For some energy commodities, the total of the observed domestic deliveries is not exactly equal to the sum of the observed domestic receipts. For these energy commodities, a statistical difference arises that can not be attributed to a sector.

The breakdown into sectors follows mainly the classification as is customary in international energy statistics. This classification is based on functions of various sectors in the energy system and for several break downs on the international Standard Industrial Classification (SIC). There are two main sectors: the energy sector (companies with main activity indigenous production or transformation of energy) and energy consumers (other companies, vehicles and dwellings). In addition to a breakdown by sector, there is also a breakdown by energy commodity, such as coal, various petroleum products, natural gas, renewable energy, electricity and heat and other energy commodities like non renewable waste.

The definitions used in this table are exactly in line with the definitions in the Energy Balance table; supply, transformation and consumption. That table does not contain a breakdown by sector (excluding final energy consumption), but it does provide information about imports, exports and bunkering and also provides more detail about the energy commodities.

Data available: From: 1990.

Status of the figures: Figures up to and including 2022 are definite. Figures for 2023 and 2024 are revised provisional.

Changes as of July 2025: Compiling figures on solar electricity took more time than scheduled. Consequently, not all StatLine tables on energy contain the most recent 2024 data on production for solar electricity. This table contains the outdated data from June 2025. The most recent figures are 5 percent higher for 2024 solar electricity production. These figures are in these two tables (in Dutch): - StatLine - Zonnestroom; vermogen en vermogensklasse, bedrijven en woningen, regio - StatLine - Hernieuwbare energie; zonnestroom, windenergie, RES-regio Next update is scheduled in November 2025. From that moment all figures will be fully consistent again. We apologize for the inconvenience.

Changes as of June 2025: Figures for 2024 have been updated.

Changes as of March 17th 2025: For all reporting years the underlying code for 'Total crudes, fossil fraction' and 'Total kerosene, fossiel fraction' is adjusted. Figures have not been changed.

Changes as of November 15th 2024: The structure of the table has been adjusted. The adjustment concerns the division into sectors, with the aluminum industry now being distinguished separately within the non-ferrous metal sector. This table has also been revised for 2015 to 2021 as a result of new methods that have also been applied for 2022 and 2023. This concerns the following components: final energy consumption of LPG, distribution of final energy consumption of motor gasoline, sector classification of gas oil/diesel within the services and transfer of energy consumption of the nuclear industry from industry to the energy sector. The natural gas consumption of the wood and wood products industry has also been improved so that it is more comparable over time. This concerns changes of a maximum of a few PJ.

Changes as of June 7th 2024: Revised provisional figures of 2023 have been added.

Changes as of April 26th of 2024 The energy balance has been revised for 2015 and later on a limited number of points. The most important is the following: 1. For solid biomass and municipal waste, the most recent data have been included. Furthermore data were affected by integration with figures for a new, yet to be published StatLine table on the supply of solid biomass. As a result, there are some changes in receipts of energy, deliveries of energy and indigenous production of biomass of a maximum of a few PJ. 2. In the case of natural gas, an improvement has been made in the processing of data for stored LNG, which causes a shift between stock changes, receipts of energy and deliveries of energy of a maximum of a few PJ.

Changes as of March 25th of 2024: The energy balance has been revised and restructured. This concerns mainly the following: 1. Different way of dealing with biofuels that have been mixed with fossil fuels 2. A breakdown of the natural gas balance of agriculture into greenhouse horticulture and other agriculture. 3. Final consumption of electricity in services

1. Blended biofuels Previously, biofuels mixed with fossil fuels were counted as petroleum crude and products. In the new energy balance, blended biofuels count for renewable energy and petroleum crude and products and the underlying products (such as gasoline, diesel and kerosene) only count the fossil part of mixtures of fossil and biogenic fuels. To make this clear, the names of the energy commodities have been changed. The consequence of this adjustment is that part of the energy has been moved from petroleum to renewable. The energy balance remains the same for total energy commodities. The aim of this adjustment is to make the increasing role of blended biofuels in the Energy Balance visible and to better align with the Energy Balances published by Eurostat and the International Energy Agency. Within renewable energy, biomass, liquid biomass is now a separate energy commodity. This concerns both pure and blended biofuels.

2. Greenhouse horticulture separately The energy consumption of agriculture in the Netherlands largely takes place in greenhouse horticulture. There is therefore a lot of attention for this sector and the need for separate data on energy consumption in greenhouse horticulture. To meet this need, the agriculture sector has been divided into two subsectors: Greenhouse horticulture and other agriculture. For the time being, we only publish separate natural gas figures for greenhouse horticulture.

3. Higher final consumption of electricity in services in 2021 and 2022. The way in which electric road transport is treated has improved, resulting in an increase in the supply and final consumption of electricity in services by more than 2 PJ in 2021 and 2022. This also works through the supply of electricity in sector H (Transport and storage).

Changes as of November 14th 2023: Figures for 2021 and 2022 haven been adjusted. Figures for the Energy Balance for 2015 to 2020 have been revised regarding the following items: - For 2109 and 2020 final consumption of heat in agriculture is a few PJ lower and for services a few PJ higher. This is the result of improved interpretation of available data in supply of heat to agriculture. - During the production of geothermal heat by agriculture natural gas is produced as by-product. Now this is included in the energy balance. The amount increased from 0,2 PJ in 2015 to 0,7 PJ in 2020. - There are some improvements in the data for heat in industry with a magnitude of about 1 PJ or smaller. - There some other improvements, also about 1 PJ or smaller.

Changes as of June 15th 2023: Revised provisional figures of 2022 have been added.

Changes as of December 15th 2022: Figures for 1990 up to and including 2019 have been revised. The revision mainly concerns the consumption of gas- and diesel oil and energy commodities higher in the classification (total petroleum products, total crude and petroleum produtcs and total energy commodities). The revision is twofold: - New data for the consumption of diesel oil in mobile machine have been incorporated. Consequently, the final energy consumption of gas- and diesel oil in construction, services and agriculture increases. The biggest change is in construction (+10 PJ from 1990-2015, decreasing to 1 PJ in 2019. In agriculture the change is about 0.5-1.5 PJ from 2010 onwards and for services the change is between 0 and 3 PJ for the whole period. - The method for dealing with the statistical difference has been adapted. Earlier from 2013 onwards a difference of about 3 percent was assumed, matching old data (up to and including 2012) on final consumption of diesel for road transport based on the dedicated tax specifically for road that existed until 2012. In the new method the statistical difference is eliminated from 2015 onwards. Final consumption of road transport is calculated as the remainder of total supply to the market of diesel minus deliveries to users other than road transport. The first and second item affect both final consumption of road transport that decreases consequently about 5 percent from 2015 onwards. Before the adaption of the tax system for gas- and diesel oil in 2013 the statistical difference was positive (more supply than consumption). With the new data for mobile machines total consumption has been increased and the statistical difference has been reduced and is even negative for a few years.

Changes as of 1 March 2022: Figures for 1990 up to and including 2020 have been revised. The most important change is a different way of presenting own use of electricity of power-generating installations. Previously, this was regarded as electricity and CHP transformation input. From now on, this is seen as own use, as is customary in international energy statistics. As a result, the input and net energy transformation decrease and own use increases, on average about 15 PJ per year. Final consumers also have power generating installations. That's why final consumers now also have own use, previously this was not so. In the previous revision of 2021, the new sector blast

Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data was reported at 1,053.710 EUR/Ton in 2022. This records an increase from the previous number of 515.870 EUR/Ton for 2021. Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data is updated yearly, averaging 429.171 EUR/Ton from Dec 2003 (Median) to 2022, with 20 observations. The data reached an all-time high of 1,053.710 EUR/Ton in 2022 and a record low of 228.799 EUR/Ton in 2003. Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data remains active status in CEIC and is reported by Statistics Austria. The data is categorized under Global Database’s Austria – Table AT.P001: Energy Prices: Annual Average.

In the third quarter of 2025, Bermuda had the highest household electricity prices worldwide, followed by Ireland, Italy, and Germany. At the time, Irish households were charged around 0.44 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.42 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.

The global energy price index stood at around 101.5 in 2024. Energy prices were on a decreasing trend that year, and forecasts suggest the price index would decrease below 80 by 2026. Price indices show the development of prices for goods or services over time relative to a base year. Commodity prices may be dependent on various factors, from supply and demand to overall economic growth. Electricity prices around the world As with overall fuel prices, electricity costs for end users are dependent on power infrastructure, technology type, domestic production, and governmental levies and taxes. Generally, electricity prices are lower in countries with great coal and gas resources, as those have historically been the main sources for electricity generation. This is one of the reasons why electricity prices are lowest in resource-rich countries such as Iran, Qatar, and Russia. Meanwhile, many European governments that have introduced renewable surcharges to support the deployment of solar and wind power and are at the same time dependent on fossil fuel imports, have the highest household electricity prices. Benchmark oil prices One of the commodities found within the energy market is oil. Oil is the main raw material for all common motor fuels, from gasoline to kerosene. In resource-poor and remote regions such as the United States' states of Alaska and Hawaii, or the European country of Cyprus, it is also one of the largest sources for electricity generation. Benchmark oil prices such as Europe’s Brent, the U.S.' WTI, or the OPEC basket are often used as indicators for the overall energy price development.

The retail price for electricity in the United States stood at an average of ***** U.S. dollar cents per kilowatt-hour in 2024. This is the highest figure reported in the indicated period. Nevertheless, the U.S. still has one of the lowest electricity prices worldwide. As a major producer of primary energy, energy prices are lower than in countries that are more reliant on imports or impose higher taxes. Regional variations and sector disparities The impact of rising electricity costs across U.S. states is not uniform. Hawaii stands out with the highest household electricity price, reaching a staggering ***** U.S. cents per kilowatt-hour in September 2024. This stark contrast is primarily due to Hawaii's heavy reliance on imported oil for power generation. On the other hand, states like Utah benefit from lower rates, with prices around **** U.S. cents per kilowatt-hour. Regarding U.S. prices by sector, residential customers have borne the brunt of price increases, paying an average of ***** U.S. cents per kilowatt-hour in 2023, significantly more than commercial and industrial sectors. Factors driving price increases Several factors contribute to the upward trend in electricity prices. The integration of renewable energy sources, investments in smart grid technologies, and rising peak demand all play a role. Additionally, the global energy crisis of 2022 and natural disasters affecting power infrastructure have put pressure on the electric utility industry. The close connection between U.S. electricity prices and natural gas markets also influences rates, as domestic prices are affected by higher-paying international markets. Looking ahead, projections suggest a continued increase in electricity prices, with residential rates expected to grow by *** percent in 2024, driven by factors such as increased demand and the ongoing effects of climate change.

Austria Energy Prices: Net: Annual Avg: Heavy Fuel Oil: Industry data was reported at 685.610 EUR/Ton in 2022. This records an increase from the previous number of 419.940 EUR/Ton for 2021. Austria Energy Prices: Net: Annual Avg: Heavy Fuel Oil: Industry data is updated yearly, averaging 358.918 EUR/Ton from Dec 2003 (Median) to 2022, with 20 observations. The data reached an all-time high of 685.610 EUR/Ton in 2022 and a record low of 154.000 EUR/Ton in 2004. Austria Energy Prices: Net: Annual Avg: Heavy Fuel Oil: Industry data remains active status in CEIC and is reported by Statistics Austria. The data is categorized under Global Database’s Austria – Table AT.P001: Energy Prices: Annual Average.

The Integrated Oil and Gas (IOG) market is a dynamic and complex sector, significantly influenced by global energy demand, technological advancements, and geopolitical factors. While precise figures for market size and CAGR are unavailable from the provided information, a reasonable estimation can be made based on industry knowledge and reported trends. Considering the substantial investments in renewable energy and the fluctuating prices of crude oil, a conservative estimate for the 2025 market size might be around $2 trillion USD. A projected Compound Annual Growth Rate (CAGR) of 3% over the forecast period (2025-2033) reflects a cautious outlook, acknowledging both the ongoing demand for fossil fuels and the growing transition to cleaner energy sources. This modest growth rate considers the increasing adoption of renewable energy and the inherent volatility within the oil and gas market. The market is segmented by various factors including geographic location, upstream/midstream/downstream activities and the type of energy source (crude oil, natural gas, LNG). Major players like Royal Dutch Shell, ExxonMobil, and Gazprom continue to hold significant market share, yet face growing competition from both established players diversifying into renewables and new entrants. Key drivers include increasing global energy consumption, particularly in developing economies, and ongoing investments in exploration and production. However, the market also faces considerable restraints, including environmental regulations aimed at reducing carbon emissions, the growing adoption of renewable energy alternatives, and price volatility associated with geopolitical events. Trends include a greater focus on operational efficiency, the integration of digital technologies for improved production and resource management, and strategic partnerships aimed at expanding market access and technological capabilities. The next decade will likely witness a shift towards a more sustainable and diversified energy landscape, forcing IOG companies to adapt their strategies to remain competitive and meet evolving consumer demands.

This table shows the supply, transformation and the consumption of energy in a balance sheet. Energy is released - among other things - during the combustion of for example natural gas, petroleum, hard coal and biofuels. Energy can also be obtained from electricity or heat, or extracted from natural resources, e.g. wind or solar energy. In energy statistics all these sources of energy are known as energy commodities.

The supply side of the balance sheet includes indigenous production of energy, net imports and exports and net stock changes. This is mentioned primary energy supply, because this is the amount of energy available for transformation or consumption in the country.

For energy transformation, the table gives figures on the transformation input (amount of energy used to make other energy commodities), the transformation output (amount of energy made from other energy commodities) and net energy transformation. The latter is the amount of energy lost during the transformation of energy commodities.

Then the energy balance sheet shows the final consumption of energy. First, it refers to the own use and distribution losses. After deduction of these amounts remains the final consumption of energy customers. This comprises the final energy consumption and non-energy use. The final energy consumption is the energy consumers utilize for energy purposes. It is specified for successively industry, transport and other customers, broken down into various sub-sectors. The last form of energy is the non-energy use. This is the use of an energy commodity for a product that is not energy.

Data available: From 1946.

Status of the figures: All figures up to and including 2023 are definite. Figures for 2024 are revised provisional.

Changes as of November 2025: Three types of changes have been made: - The energy balance has been expanded to include hydrogen as an energy commodity and the topic of own use of hydrogen production installations, starting in reporting year 2024. - The energy balance has been revised from 1990 through 2022. - The energy balance has been updated for the years 2023 and 2024.

The expansion is a result of a change in the European agreements on compiling energy statistics. This change results in a break in time series, which is further explained in section 4. Sources and Methods. The revision primarily concerns improved data on gas/diesel oil consumption by mobile equipment in the construction and services sectors. These changes amount to a few PJ. Since 2015, this revision has also affected road transport diesel consumption, which from that year onwards is determined as total taxable supply of gas/diesel oil minus supply of taxable gas/diesel oil to other sectors. Similar adjustments have been made for road transport gasoline.

Changes as of July 2025: Compiling figures on solar electricity took more time than scheduled. Consequently, not all StatLine tables on energy contain the most recent 2024 data on production for solar electricity. This table contains the outdated data from June 2025. The most recent figures are 5 percent higher for 2024 solar electricity production. These figures are in these two tables (in Dutch): - StatLine - Zonnestroom; vermogen en vermogensklasse, bedrijven en woningen, regio - StatLine - Hernieuwbare energie; zonnestroom, windenergie, RES-regio Next update is scheduled in November 2025. From that moment all figures will be fully consistent again. We apologize for the inconvenience.

Changes as of June 2025: Figures for 2024 have been updated.

Changes as of March 19th 2025: For all reporting years the underlying code for 'Total crudes, fossil fraction' is adjusted. Figures have not been changed.

Changes as of March 17th 2025: Provisional figures of 2024 have been added.

Changes as of November 15th 2024: The structure of the table has been adjusted. This concerns the classification into energy commodities, section 'other energy commodities'. The new classification ensures that it is now exactly in line with the classification used by Eurostat when publishing the Energy Balance Sheet. This table has also been revised for 2015 to 2021 as a result of new methods that have also been applied for 2022 and 2023. This concerns the following components: final energy consumption of LPG, distribution of final energy consumption of motor gasoline and transfer of energy consumption of the nuclear industry from industry to the energy sector. The natural gas consumption of the wood and wood products industry has also been improved so that it is more comparable over time. This concerns changes of a maximum of a few PJ.

Changes as of June 7th 2024: Revised provisional figures of 2023 have been added.

Changes as of April 26th 2024:

• Provisional figures of 2023 have been added.

The energy balance has been revised for 2015 and later on a limited number of points. The most important is the following: 1. For solid biomass and municipal waste, the most recent data have been included. Furthermore data were affected by integration with figures for a new, yet to be published StatLine table on the supply of solid biomass. As a result, there are some changes in imports, exports and indigenous production of biomass of a maximum of a few PJ. 2. In the case of natural gas, an improvement has been made in the processing of data for stored LNG, which causes a shift between stock changes, imports and exports of a maximum of a few PJ. 3. Data for final energy consumption of blended biofuels per subsector in transport were incorrectly excluded. These have now been made visible.

Changes as of March 25th 2024: The energy balance has been revised and restructured. It concerns mainly a different way of dealing with biofuels that are mixed with fossil fuels.

Previously, biofuels mixed with fossil fuels were counted as petroleum crude and products. In the new energy balance, blended biofuels count for renewable energy and petroleum crude and products and the underlying products (such as gasoline, diesel and kerosene) only count the fossil part of mixtures of fossil and biogenic fuels. To make this clear, the names of the energy commodities have been adjusted. The consequence of this adjustment is that part of the energy has been moved from petroleum to renewable. The energy balance remains the same for total energy commodities. The aim of this adjustment is to make the increasing role of blended biofuels in the Energy Balance visible and to better align with the Energy Balances published by Eurostat and the International Energy Agency. Within renewable energy and biomass, pure and blended biofuels are now visible as separate energy commodities.

In addition, the way in which electric road transport is treated has been improved, resulting in an increase in the supply and final consumption of electricity in services by more than 2 PJ in 2021 and 2022.

Changes as of November 14th 2023: Figures for 2021 and 2022 haven been adjusted. Figures for the Energy Balance for 2015 to 2020 have been revised regarding the following items: - For 2109 and 2020 final consumption of heat in agriculture is a few PJ lower and for services a few PJ higher. This is the result of improved interpretation of available data in supply of heat to agriculture. - During the production of geothermal heat by agriculture natural gas is produced as by-product. Now this is included in the energy balance. The amount increased from 0,2 PJ in 2015 to 0,7 PJ in 2020. - There are some improvements in the data for heat in industry with a magnitude of about 1 PJ or smaller. - There some other improvements, also about 1 PJ or smaller.

Changes as of October 10th 2023: Energy commodity gas works cokes has been added. Revised figures for period 1946-1989 have been added.

Changes as of June 15th 2023: Revised provisional figures of 2022 have been added.

When will new figures be published? Provisional figures: April of the following year. Revised provisional figures: June/July of the following year. Definite figures: December of the second following year.

CR: Electricity Production From Oil Sources: % of Total data was reported at 4.977 % in 2023. This records an increase from the previous number of 0.016 % for 2022. CR: Electricity Production From Oil Sources: % of Total data is updated yearly, averaging 4.063 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 17.251 % in 1995 and a record low of 0.016 % in 2021. CR: Electricity Production From Oil Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Costa Rica – Table CR.World Bank.WDI: Environmental: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products.;IEA Energy Statistics Data Browser, https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser;Weighted average;Electricity production shares may not sum to 100 percent because other sources of generated electricity (such as geothermal, solar, and wind) are not shown. Restricted use: Please contact the International Energy Agency for third-party use of these data.

The shale oil industry, currently experiencing robust growth with a Compound Annual Growth Rate (CAGR) exceeding 5%, presents a compelling investment landscape. Driven by increasing global energy demand, technological advancements in hydraulic fracturing and horizontal drilling, and favorable government policies in key regions like North America, the market is projected to reach significant value by 2033. While fluctuating oil prices represent a considerable restraint, continuous innovation in extraction techniques, aimed at improving efficiency and reducing costs, is mitigating this risk. The market is segmented by production, consumption, import/export analysis (both value and volume), and price trends, offering a detailed understanding of market dynamics. Major players such as ExxonMobil, Chevron, and ConocoPhillips are leading the industry's expansion, continuously investing in exploration and production to maintain their market share. Regional variations exist, with North America currently dominating the market due to its established shale oil reserves and infrastructure, but regions like the Asia-Pacific are anticipated to witness substantial growth fueled by increasing energy consumption and infrastructure development. The forecast period from 2025 to 2033 anticipates a sustained expansion, though the rate of growth might fluctuate based on geopolitical factors and global economic conditions. Careful consideration of environmental concerns, including water usage and greenhouse gas emissions, is becoming increasingly crucial for the industry's long-term sustainability. Regulations and public perception surrounding environmental impact will play a significant role in shaping future market trajectories. Market analysis indicates a continuing shift towards more efficient and environmentally conscious extraction methods, attracting investment in research and development to enhance operational sustainability. Diversification of energy sources and the rising prominence of renewable energy will also influence the shale oil industry’s long-term growth potential. Nevertheless, the industry’s significant role in global energy security is expected to ensure its continued relevance and expansion for the foreseeable future. Recent developments include: In July 2022, Oilex and Schlumberger won a contract for the supply by Schlumberger of hydraulic fracturing services, coiled tubing and nitrogen services, and perforation services for the planned re-frac of the Cambay C-77H well in Gujarat, India., In April 2022, CNX Resources Corporation (NYSE: CNX) and Evolution Well Services announced a four-year extension to the previous contract. Since 2019, Evolution has provided its industry-leading electric fracturing technology to CNX. The technology is a 100% electric, natural gas-fueled, gas turbine-powered fracturing fleet for strategic basin development.. Notable trends are: Growing Petrochemical Industry to Drive the Market.

The global Exploration and Production (E&P) sector in the oil and gas industry is a dynamic market characterized by significant fluctuations influenced by geopolitical events, technological advancements, and evolving energy demands. While precise figures for market size and CAGR are absent, industry reports suggest a substantial market value, potentially in the trillions of dollars, exhibiting moderate growth. Drivers include increasing global energy consumption, particularly in developing economies, coupled with the ongoing need for reliable and affordable energy sources. Key trends involve a shift towards cleaner energy sources, necessitating investments in carbon capture and storage technologies, while simultaneously driving the exploration of unconventional resources like shale gas and oil. The industry faces constraints such as volatile oil and gas prices, stringent environmental regulations, and the increasing complexity of extracting resources from challenging environments (e.g., deepwater drilling). The segment breakdown reveals a diversified market, with gasoline and diesel fuel dominating application segments, and onshore exploration historically outweighing offshore activities. Major players, including ConocoPhillips, CNOOC Ltd., and others listed, actively compete through technological innovation and strategic acquisitions to maintain market share. This competitive landscape underscores the importance of efficient operations, technological advancements, and strategic partnerships in the E&P sector. Regional variations reflect differing levels of resource endowment, regulatory environments, and economic development. North America and the Middle East & Africa historically represent significant production hubs, though Asia-Pacific's growing energy demand is driving increased exploration activities within the region. Future growth will likely hinge on factors such as the pace of global economic recovery, the effectiveness of energy transition policies, and technological breakthroughs in exploration and extraction methods. The sector’s long-term prospects depend on finding a sustainable balance between meeting global energy needs and mitigating the environmental impact of oil and gas production.

Renewable energy production in the United States reached an all-time high of 8,788 trillion British thermal units in 2024. Consumption followed closely behind at 8,581 trillion British thermal units. U.S. investment in clean energy The United States' investment in renewables has greatly increased in the past two decades. Clean energy in the United States currently comes primarily from wind, solar, and hydropower, with significant contributions from biofuel and biomass - also known as biopower. Investments are motivated not only by environmental concerns, but also by unstable markets for traditional fossil fuels. Crisis in oil markets When oil prices peaked during the 2008 financial crisis, investors turned toward developing renewables as well as increasing domestic oil production as a more economically viable source. During the 2010s oil glut, oversupply of shale oil followed the expansion of extraction methods such as hydraulic fracturing, used to access the country’s large reserves of sandstone deep underground.

Jordan JO: Electricity Production From Oil Sources: % of Total data was reported at 92.525 % in 2014. This records an increase from the previous number of 74.495 % for 2013. Jordan JO: Electricity Production From Oil Sources: % of Total data is updated yearly, averaging 89.810 % from Dec 1971 (Median) to 2014, with 44 observations. The data reached an all-time high of 100.000 % in 1985 and a record low of 8.527 % in 2009. Jordan JO: Electricity Production From Oil Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Jordan – Table JO.World Bank: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Electricity production shares may not sum to 100 percent because other sources of generated electricity (such as geothermal, solar, and wind) are not shown. Restricted use: Please contact the International Energy Agency for third-party use of these data.

Oil & Gas EPC Market Outlook

The global Oil & Gas EPC market size was valued at approximately USD 45 billion in 2023 and is projected to reach around USD 67 billion by 2032, growing at a CAGR of 4.5% during the forecast period. The market is primarily driven by the increasing demand for energy, technological advancements in extraction and production, and the rising need for efficient project execution in the oil and gas industry.

One of the major growth factors for the Oil & Gas EPC market is the escalating global demand for energy. As the world population increases and industrialization continues to expand, the need for oil and gas as primary energy sources remains strong. This ongoing demand necessitates the development of new oil and gas projects and the expansion of existing infrastructure, driving the need for Engineering, Procurement, and Construction (EPC) services. Furthermore, the modernization of aging infrastructure also requires substantial investment, further boosting the market.

Technological advancements in extraction and production techniques, such as hydraulic fracturing and horizontal drilling, have significantly enhanced the efficiency of oil and gas operations. These technologies require specialized engineering and construction expertise, thereby increasing the reliance on EPC services. Additionally, the integration of digital technologies like IoT, AI, and big data analytics in project management has optimized resource allocation and improved project timelines, making EPC services more attractive to oil and gas companies.

Government policies and regulations also play a critical role in the growth of the Oil & Gas EPC market. Many countries are focusing on energy security and are investing heavily in exploration and production activities. This has led to an increase in the number of oil and gas projects, particularly in regions rich in natural resources. Moreover, favorable tax policies and incentives in certain regions are encouraging investment in the oil and gas sector, thereby driving the demand for EPC services.

In the context of the oil and gas industry, the importance of Upstream Petrotechnical Training Service cannot be overstated. As the industry evolves with new technologies and methodologies, there is a growing need for skilled professionals who can effectively manage and execute upstream operations. These training services are designed to equip engineers and technical staff with the latest knowledge and skills required for exploration and production activities. By focusing on real-world applications and practical training, these services ensure that personnel are well-prepared to tackle the challenges of upstream operations, ultimately enhancing the efficiency and safety of oil and gas projects. The integration of such training services is crucial for companies aiming to maintain a competitive edge in the rapidly changing energy landscape.

Regionally, the Asia Pacific region is expected to witness substantial growth in the Oil & Gas EPC market. Countries such as China and India are leading this growth due to their rapid economic development and increasing energy consumption. Additionally, the Middle East & Africa region, with its vast reserves of oil and gas, continues to be a significant player in the market, driven by ongoing investments in exploration and production activities. North America, particularly the United States, also remains a key market due to its technological advancements and substantial shale gas reserves.

Service Type Analysis

The Oil & Gas EPC market is segmented based on service type into Engineering, Procurement, Construction, and Commissioning. Each of these segments plays a crucial role in the successful execution of oil and gas projects. The Engineering segment involves the design and planning of projects, where specialized expertise is required to develop efficient and sustainable designs. This segment is critical as it lays the foundation for all subsequent phases of the project.

The Procurement segment involves the acquisition of materials, equipment, and services required for the project. This segment is highly dependent on supply chain management and procurement strategies to ensure that the necessary resources are available on time and within budget. Effective procurement strategies can significantly impact the overall cost and timeline of the project, making this segment vital for the su

CA: Electricity Production From Oil Sources: % of Total data was reported at 0.885 % in 2023. This records an increase from the previous number of 0.824 % for 2022. CA: Electricity Production From Oil Sources: % of Total data is updated yearly, averaging 1.805 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 3.866 % in 2004 and a record low of 0.650 % in 2021. CA: Electricity Production From Oil Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Environmental: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products.;IEA Energy Statistics Data Browser, https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser;Weighted average;Electricity production shares may not sum to 100 percent because other sources of generated electricity (such as geothermal, solar, and wind) are not shown. Restricted use: Please contact the International Energy Agency for third-party use of these data.

Canada CA: Electricity Production From Oil: Gas And Coal Sources: % of Total data was reported at 18.831 % in 2023. This records an increase from the previous number of 17.525 % for 2022. Canada CA: Electricity Production From Oil: Gas And Coal Sources: % of Total data is updated yearly, averaging 21.858 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 28.926 % in 2001 and a record low of 17.525 % in 2022. Canada CA: Electricity Production From Oil: Gas And Coal Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Environmental: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products. Gas refers to natural gas but excludes natural gas liquids. Coal refers to all coal and brown coal, both primary (including hard coal and lignite-brown coal) and derived fuels (including patent fuel, coke oven coke, gas coke, coke oven gas, and blast furnace gas). Peat is also included in this category.;IEA Energy Statistics Data Browser, https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser;Weighted average;

Italy IT: Electricity Production From Oil: Gas And Coal Sources: % of Total data was reported at 59.800 % in 2015. This records an increase from the previous number of 55.489 % for 2014. Italy IT: Electricity Production From Oil: Gas And Coal Sources: % of Total data is updated yearly, averaging 71.746 % from Dec 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 83.638 % in 2007 and a record low of 14.328 % in 1960. Italy IT: Electricity Production From Oil: Gas And Coal Sources: % of Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Italy – Table IT.World Bank: Energy Production and Consumption. Sources of electricity refer to the inputs used to generate electricity. Oil refers to crude oil and petroleum products. Gas refers to natural gas but excludes natural gas liquids. Coal refers to all coal and brown coal, both primary (including hard coal and lignite-brown coal) and derived fuels (including patent fuel, coke oven coke, gas coke, coke oven gas, and blast furnace gas). Peat is also included in this category.; ; IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/; Weighted average; Restricted use: Please contact the International Energy Agency for third-party use of these data.

World Energy Yearbook 1990 - 2020.

Abbreviations:

Mtoe million tons of oil equivalent (103 toe)
toe tons of oil equivalent
koe kilo of oil equivalent (10-3 toe)
Mt million tons
bcm billion cubic meters (109 cubic meters)
TWh terawatt hour
tCO2 tons of carbon dioxide
kCO2 kilogramme of carbon dioxide (10-3 tCO2)

Glossary

• Balance of trade: The trade balance is the difference between imports and exports. The balance of a net exporter appears as a negative value (-). The balance of geographic and geopolitical zones is simply the sum of the trade balance of all countries.

• CO2 emissions from fuel combustion: CO2 emissions cover only the emissions from fossil fuel combustion (coal, oil and gas). They are calculated according to the UNFCCC methodology. Here the reference approach is presented, ie the sum of CO2 emissions of each energy.

• CO2 intensity: CO2 intensity is the ratio of CO2 emissions from fuel combustion over Gross Domestic Product (GDP) measured in constant US $ at purchasing power parities. It measures the CO2 emitted to generate one unit of GDP. GDP is expressed at constant exchange rate and purchasing power parity to remove the impact of inflation and reflect differences in general price levels and relate energy consumption to the real level of economic activity. Using purchasing power parity rates for GDP instead of exchange rates increases the value of GDP in regions with a low cost of living, and therefore decreases their energy intensities.

• Crude oil: Crude oil includes all liquid hydrocarbons to be refined: crude oil, liquids from natural gas (NGL), and semi-refined products.

• Crude oil, coal and lignite production : corresponds to gross production.

• Electricity production: Electricity production corresponds to gross production. It includes public production (production of private and public electricity utilities) and industrial producers for their own uses, by any type of power plant (including cogeneration).

• Energy intensity of GDP at constant purchasing power parities: The energy intensity is the ratio of primary energy consumption over Gross Domestic Product (GDP) measured in constant US $ at purchasing power parities. It measures the total amount of energy necessary to generate one unit of GDP. GDP is expressed at constant exchange rate and purchasing power parity to remove the impact of inflation and reflect differences in general price levels and relate energy consumption to the real level of economic activity. Using purchasing power parity rates for GDP instead of exchange rates increases the value of GDP in regions with a low cost of living, and therefore decreases their energy intensities.

• Natural gas production: Natural gas production corresponds to the marketed production (i.e. excluding quantities flared or reinjected).

• NGL : Natural Gas Liquids

• Oil products: Oil products are all liquid hydrocarbons, obtained by the refining of crude oil and NGL and by treatment of natural gas, in particular, LPG production (Liquid Petroleum Gas) includes LPG from natural gas separation plants. Ethanol used as motor fuel in Brazil as well as fuels derived from coal in South Africa are not included in oil products.

• Share of renewables in electricity production: Ratio between the electricity production from renewables (hydro, wind, geothermal and solar) and the total electricity production.

• Share of wind and solar in electricity production: Electricity produced from wind and solar energy divided by the total electricity production.

• Share of electricity in total final energy consumption: Final electricity demand divided by the total final energy consumption.

• Total primary production: Primary production evaluates the quantity of natural energy resources ("primary energy sources") extracted or produced. For natural gas, the quantities flared or reinjected are excluded. Production of hydro, geothermal, nuclear and wind electricity is considered as primary production.

• Total energy consumption: The total energy consumption is the balance of primary production, external trade, marine bunkers and stock changes. The total energy consumption includes biomass.For the world, marine bunkers are included. This induces a gap with the sum of regions.

• Average CO2 emission factor: The average CO2 emission factor (carbon factor) is calculated doing the ratio between emissions over primary energy consumption.