In 2024, the total revenue of the United States’ oil and gas industry came to ******billion U.S. dollars. That was a decrease from the previous year, when U.S. oil and gas reached *** billion U.S. dollars. Figures peaked in 2022 as a result of decade-high oil and gas prices. The advent of shale oil and gas Following the financial crisis, investors in the U.S. sought to increase domestic production and reduce dependence on foreign oil and gas in turbulent international markets. Despite high start-up costs, shale gas and tight oil became economically viable to extract as the result of new methods such as hydraulic fracturing (also known as fracking). Production expanded rapidly in states with large permeable rock formations of sandstone, such as Texas and North Dakota. Changes in future shale production In addition to global market developments that impact short-term demand and prices, the trajectory of gross output in the oil and gas extraction industry largely precipitates the changes in U.S. oil revenue seen here. Going forward, production of U.S. shale gas and tight oil is expected to see only a moderate increase until 2050.

Sinopec (China Petroleum & Chemical Corporation) is the leading global oil and gas company by revenues generated. In the 12-month period leading up to August 2025, the Chinese state-owned enterprise generated ************** U.S. dollars in revenues. State-owned enterprises are largest producers State-owned businesses are among the largest within the oil and gas industry. Saudi Arabia's Saudi Aramco is the leading oil company worldwide based on daily oil production, at over ********** barrels per day. This is significantly more than the daily output of ExxonMobil. At ************* barrels of crude oil per day, it is the largest producer among public companies not majority owned by any state. The United States-based oil and gas giant ExxonMobil generated *********** U.S. dollars in revenues in the 12 months leading up to August 2025, coming in third in this list. Diversification of oil & gas portfolios Due to growing investor pressure and judicial court rulings, some oil and gas companies have been incentivized to increase the share of non-fossil fuel assets in their portfolio. Their efforts have been supported by an increasing number of investment funds and asset managers, with more diverse companies also often ranking higher in terms of brand value. Many European oil majors have already begun looking for clean energy ventures where their expertise may help them gain footing fast, such as offshore wind and blue hydrogen. This is also reflected in a growing share of low-carbon investments in overall capex.

Global oil and gas production companies have gone through significant turbulence for most of the period. Revenue started off in a downturn amid the pandemic and its accompanying lockdowns, primarily the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. This was further amplified by Russia's invasion of Ukraine, which forced many countries to put sanctions on Russia. With countries scrambling to find new suppliers, prices continued to shoot up in 2022. Nonetheless, prices eventually cooled back down later in the period, but still remained well above pre-pandemic levels. Overall revenue has pushed up at a CAGR of 11.7% to $4.0 trillion through the end of 2025, including a slight 7.3% dip in 2025 alone. Profit also surged as purchase costs came down. Emerging markets in BRIC nations, Southeast Asia and Africa continue to drive growth because of rapid industrialization and population increases, heightening the need for crude oil, natural gas and related downstream products. Even so, the gradual shift toward renewable energy poses challenges for producers, as many countries have implemented regulations and incentives to promote clean energy use. Geopolitical tensions and the uncertainties stemming from the global pandemic underscore the importance of diversifying supply sources to ensure energy security. Overall, industry revenue is set to push down at a CAGR of 2.5% to $3.6 trillion through the end of 2030. The bulk of this period will be highlighted by more efforts in oil and gas exploration and production in emerging markets, potentially transforming these regions into major global producers. Established countries will take this time to upgrade their technology and infrastructure to make production more efficient to keep profitability steady. Even so, the excess supply of oil and gas, combined with the push for sustainability, will drive prices down, leading to revenue contractions.

The US oil and gas production index measures the change in annual crude oil and natural gas production in the continental United States. Data for both commodities is sourced from the Energy Information Administration, and crude oil production volume has been converted to the equivalent measurement of natural gas. The base year of the index is 2000.

The average annual net income from the oil and gas industry worldwide is projected to decrease in the coming years. For instance, Saudi Arabia's oil and gas industry generated a net income of *** billion U.S. dollars in 2022, but this figure is expected to decline by some ** percent under a stated policies (STEP) scenario, and up to ** percent under a net-zero (NZE) scenario. The STEP scenario is based on current policies both already in place and under development while the NZE scenario assumes that the global energy sector will achieve net zero CO₂ emissions by 2050. Saudi Arabia is currently the second-largest crude oil producer worldwide, only behind the United States.

Global Oil and Gas market size 2021 was recorded $6247.95 Billion whereas by the end of 2025 it will reach $7554 Billion. According to the author, by 2033 Oil and Gas market size will become $11042.2. Oil and Gas market will be growing at a CAGR of 4.86% during 2025 to 2033.

Income statement and balance sheet for the oil and gas extraction sector (formerly known as conventional) and the oil sands sector (formerly known as non-conventional).

Oil and gas producers have experienced high volatility in recent years. The pandemic halted the economy and ripped away steady growth as restrictions limited the need for oil and gas. The conflict in Ukraine added to the uncertainty, as the reliance on Russian oil and gas was distributed between domestic producers and other sources. As the economy recovered, the need for oil and gas shot up quicker than supply could match, causing prices to surge and generating substantial returns. Nonetheless, this growth was short-lived as prices fell in 2023 and 2024, causing revenue to dip, despite massive upticks in production. Overall, revenue has swelled at a CAGR of 9.5% over the five years, reaching $484.6 billion in 2025, including a 0.9% dip in 2025 alone, amid falling oil prices. Exports of crude oil and natural gas from the United States had long been banned with few exceptions, but legislation passed in 2016 overturned this rule and dramatically changed the industry. Exports pushed up dramatically as producers sought to capitalize on opportunities abroad. They have continued to climb in recent years, becoming essential to producers' success. Sanctions placed on Russian energy have bolstered export growth, with the Netherlands becoming the largest US energy export market late over the current period. Innovation in drilling technology will drive the performance of producers forward, but environmental concerns and increasing pressure to convert to renewables will limit success. Fossil fuel prices will weaken steadily but remain high, providing solid profit for producers. The trade-weighted index falling over the outlook period will benefit exports and reduce import penetration. European countries continuing to reduce their reliance on Russian energy may provide US producers with new opportunities. Nonetheless, imports and exports to and from Mexico and Canada may be impacted if reflationary energy tariffs are instated. Overall, revenue is set to dip at a CAGR of 2.0% to $438.3 billion through the end of 2030.

Oil and gas field service providers are directly tied to oil and gas production, so the industry typically follows trends that are significant to that industry (IBISWorld Report 21111). The period started off on a low note as the pandemic massively weakened production, cutting down the need for field service providers as the number of rigs operating saw a steep drop. This drop carried on in 2021 but resurged in 2022, driven by favorable pricing because of supply chain issues from Russia’s invasion of Ukraine, which briefly bolstered field services providers. This revenue growth carried on into 2023 and 2024 as production continued to push up. Even so, prices took a dip, so growth was not as significant. Overall revenue pushed up at a CAGR of 2.5%, reaching $109.8 billion through 2025, including a 5.1% push down in 2025 as crude oil pricess are set to fall. Amid these fluctuations, the adoption of advanced enhanced oil recovery techniques initially benefited oil and gas field services providers as companies enlisted support for new technologies. Yet, increased efficiency led to a reduced need for rigs, fundamentally constraining growth for oil and gas field service providers. Despite this, profit has swelled amid lower operational costs. Nonetheless, with this uptick in efficiency, field service providers have cut down their workforce as employment has pushed down at a CAGR of 1.9% from 2020 to 2025. Looking ahead, oil and gas field services providers are poised to enjoy modest growth. The stabilization of natural gas and crude oil prices will continue, allowing for more investment in the industry and providing a much-needed boost to field service providers. Even so, the continued push for investment in renewable energy poses a competitive threat. Despite these challenges, US oil and gas producers will sustain robust production levels, particularly for exports, which will positively influence field service providers. The need for natural gas will also support growth in this sector. Overall, revenue for oil and gas field services providers is set to climb at a CAGR of 0.5%, reaching $112.7 billion in 2030.

ExxonMobil is the largest United States-based oil and gas producing company. As of December 2024, ExxonMobil's revenues amounted to ****** billion U.S. dollars. ExxonMobil’s revenue was significantly higher than its competitors, earning nearly *** billion U.S. dollars more than Chevron, which ranked second that same year. ExxonMobil’s main operations and locations Based in Irving, Texas, ExxonMobil is consistently ranked as one of the top oil and gas companies worldwide based on revenue. The company has early origins in John D. Rockefeller’s Standard Oil Company from the 1880s but became the entity it is today when two major oil companies, Exxon and Mobil, merged in 1999. The company is one of the leading global oil refiners, with refineries in 21 countries. The majority of ExxonMobil's refining capacity is in North America and Europe. Impact of 2022 rise in oil prices ExxonMobil's revenue has seen a stark rise this decade. While a 2020 slump followed impacts of the pandemic on economic activity and outlooks, revenues have more than doubled since then. As a result of rising oil prices, ExxonMobil regained its position among the largest ten companies by revenue worldwide along with other major oil producers and refiners.

The Oil and Gas Market in Africa size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 5.50 % during the forecasts periods. Recent developments include: In January 2022, Nigerian National Petroleum Company Ltd secured a USD 5 billion commitment from the African Export-Import Bank to fund its major investment in the Nigerian upstream sector. The repayment of this funding is expected to be done through a forward sale arrangement, whereby the funds will constitute the payment purchase of 90-120 kpd of crude to be delivered to the lender within a four to eight-year period., In February 2022, the Nigerian Upstream Petroleum Regulatory Commission announced the "Industry-Wide Oil Revenue Recovery Initiative" to recover the missed revenue on account of crude oil loss due to illegal tapping of pipelines. Per the petroleum commission, it is likely to recover double the country's output from 1.5 million barrels of oil per day to 3 million barrels per day in the upcoming years.. Key drivers for this market are: 4., Increasing Natural Gas Demand4.; Rising Pipeline Network and Associated Infrastructure Development. Potential restraints include: 4., Rising Shift toward Renewable Energy. Notable trends are: Upstream Segment to dominate the Market.

The global market size of South Oil and Gas is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.

Global South Oil and Gas Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global South Oil and Gas industry. The key insights of the report:

1.The report provides key statistics on the market status of the South Oil and Gas manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.

3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.

4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.

5.The report estimates 2019-2024 market development trends of South Oil and Gas industry.

6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out

7.The report makes some important proposals for a new project of South Oil and Gas Industry before evaluating its feasibility.

There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.

For competitor segment, the report includes global key players of South Oil and Gas as well as some small players.

The information for each competitor includes:

* Company Profile

* Main Business Information

* SWOT Analysis

* Sales, Revenue, Price and Gross Margin

* Market Share



For product type segment, this report listed main product type of South Oil and Gas market

* Product Type I

* Product Type II

* Product Type III



For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.

* Application I

* Application II

* Application III



For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:

* North America

* South America

* Asia & Pacific

* Europe

* MEA (Middle East and Africa)

The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.



Reasons to Purchase this Report:

* Analyzing the outlook of the market with the recent trends and SWOT analysis

* Market dynamics scenario, along with growth opportunities of the market in the years to come

* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects

* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.

* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment

* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years

* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

* 1-year analyst support, along with the data support in excel format.

We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

The average for 2021 based on 181 countries was 2.69 percent. The highest value was in Libya: 56.38 percent and the lowest value was in Antigua and Barbuda: 0 percent. The indicator is available from 1970 to 2021. Below is a chart for all countries where data are available.

According to Cognitive Market Research, the global data business in oil gas market size will be USD 41251.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 19.80% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 15263.17 million in 2025 and will grow at a compound annual growth rate (CAGR) of 17.6% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 11963.02 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 9900.43 million in 2025 and will grow at a compound annual growth rate (CAGR) of 21.8% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 1567.57 million in 2025 and will grow at a compound annual growth rate (CAGR) of 18.8% from 2025 to 2033.
The Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 1650.07 million in 2025 and will grow at a compound annual growth rate (CAGR) of 19.1% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 907.54 million in 2025 and will grow at a compound annual growth rate (CAGR) of 19.5% from 2025 to 2033.
Regulatory data category is the fastest growing segment of the data business in oil gas industry

Market Dynamics of Data Business in Oil Gas Market

Key Drivers for Data Business in Oil Gas Market

Integration of Cloud Computing for Data Storage and Accessibility Fuels Market Growth

Integration of cloud computing for data storage and accessibility fuels market growth in the data business in oil gas market. Cloud computing enables oil and gas companies to store vast amounts of operational and exploration data in a scalable, secure, and cost-effective manner. It enhances collaboration among teams across different locations by providing real-time access to critical information. This improves decision-making, operational efficiency, and response times. Furthermore, cloud platforms support advanced analytics, machine learning, and remote monitoring applications essential for modern oilfield operations. As the industry continues to embrace digital transformation, the demand for cloud-based solutions is expected to rise significantly, driving growth in the data business in oil gas market globally.

Advancements in Artificial Intelligence and Machine Learning for Optimization Drives Market Growth

Advancements in Artificial Intelligence (AI) and Machine Learning (ML) are significantly driving growth in the data business in oil gas market. These technologies enable predictive analytics, process automation, and real-time decision-making, enhancing operational efficiency across exploration, drilling, and production. AI and ML help identify patterns in massive datasets, allowing operators to forecast equipment failures, reduce downtime, and optimize asset performance. Their integration supports cost reduction and improves safety by automating routine tasks and minimizing human intervention. With growing pressure to enhance productivity and manage resources effectively, the adoption of AI and ML is becoming essential. As a result, these advancements are a key force propelling the data business in oil gas market forward.

Restraint Factor for the Data Business in Oil Gas Market

Resistance to Change from Traditional to Digital Processes among Operators Restricts Market Growth

In the data business in oil gas market, one significant challenge is the resistance to change from traditional to digital processes among operators. Many oil and gas companies have long relied on conventional methods and legacy systems, creating hesitation when it comes to adopting new digital solutions. This resistance often stems from a lack of digital literacy, concerns over costs, and uncertainty about the return on investment. Additionally, older infrastructures may not easily integrate with modern data platforms, further slowing the transition. This reluctance hampers the implementation of advanced technologies such as AI, IoT, and cloud computing, ultimately restricting the market’s potential growth and slowing innovation across the industry.

Market Trends in Data Business in Oil Gas Market

Development of Advanced Remote Monitoring Tools for Offshore and Rem...

U.S. Federal Oil & Gas Monthly Production & Disposition (2015–2025)

🌎 Project Overview

This dataset provides a comprehensive, cleaned, and analysis-ready record of the monthly production and disposition volumes of U.S. federal oil and natural gas resources from January 2015 through September 2025. Compiled from the authoritative OGOR-B reporting forms and curated by the U.S. Department of the Interior (DOI), Office of Natural Resources Revenue (ONRR), it reflects the official federal and Native American natural resource production data.

The dataset captures not only raw production volumes but also detailed disposition categories, which indicate how these resources are sold, measured, or allocated, making it a crucial resource for energy policy analysis, market forecasting, and sustainability research.

🌐 Context & Source Information

• Publisher: U.S. Department of the Interior – Office of Natural Resources Revenue (ONRR)
• Original Dataset: Monthly Production Disposition of U.S. Natural Resources Revenue (OGOR-B)
• Coverage: Federal lands, federal waters (Offshore regions: Alaska, Gulf of Mexico, Pacific), and Native American lands. Location data is intentionally withheld for Native American production to protect privacy and sovereignty.
• Temporal Scope: January 2015 – September 2025, monthly frequency.
• License: Creative Commons CCZero (CC0) – Public Domain. Anyone can use, modify, and distribute this data.
• Official Landing Page: ONRR Monthly Production Disposition Data

This dataset is a cornerstone for those researching U.S. energy economics, resource management, climate impact studies, and policy development.

📊 Data Dictionary

🛠️ Data Cleaning & Preprocessing

To ensure the dataset is analysis-ready, the following preprocessing steps were applied:

• Missing Value Handling:

  • State / County / FIPS Code: Missing values primarily correspond to offshore records and were logically filled with the label Offshore.
  • Offshore Region: Missing values indicate onshore records and were filled with the label Onshore.

• Data Standardization:

  • Standardized date formats for seamless time-series analysis.
  • Converted numerical volumes from string with commas to clean numeric types.

• Quality Assurance:

  • Verified consistency of commodity labels and disposition codes.
  • Confirmed monthly frequency across the 10-year time span.

These enhancements enable immediate use in machine learning pipelines, econometric models, and visual analytics without additional preprocessing.

🚀 Potential Use Cases

📊 Energy Economics & Market Forecasting

• Model long-term trends in U.S. oil and natural gas production.
• Correlate production with market prices or global economic indicators.
• Forecast supply-demand dynamics using ARIMA, Prophet, or LSTM models.

🌍 Environmental & Policy Research

• Quantify the environmental impact of onshore versus offshore production.
• Assess how federal production contributes to greenhouse gas emissions when combined with emissions datasets.
• Evaluate the effectiveness of U.S. energy policies and their evolution over a decade.

📈 Financial & Business Intelligence

• Integrate production volumes into energy sector investment models.
• Build revenue projections and budget impact analyses for federal and tribal authorities.
• Use disp...

The Data Business in Oil & Gas Market is estimated to be valued at USD 49.6 billion in 2025 and is projected to reach USD 218.1 billion by 2035, registering a compound annual growth rate (CAGR) of 16.0% over the forecast period.

Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data was reported at 0.000 RUB mn in Dec 2017. This stayed constant from the previous number of 0.000 RUB mn for Nov 2017. Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data is updated monthly, averaging 0.000 RUB mn from Jan 2008 (Median) to Dec 2017, with 120 observations. The data reached an all-time high of 1,090,369.020 RUB mn in Jan 2012 and a record low of 0.000 RUB mn in Dec 2017. Russia Reserve Fund: RUB Revenue: Oil & Gas Industry data remains active status in CEIC and is reported by Federal Treasury. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FE004: Reserve Fund: Cash Flow (Discontinued).

Europe’s petroleum and natural gas extraction support services’ revenue is forecast to hike at a compound annual rate of 5.4% over the five years through 2025 to €52.5 billion, including a 10.4% hike in 2025. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand then soared in 2022 as Russia’s invasion of Ukraine led to significant price increases in both oil and gas due to supply uncertainties. This also led to Norway becoming Europe’s largest natural gas supplier in 2022, supporting revenue opportunities for Norwegian contractors. Norway has also increased the level of investment into new oil and gas fields to alleviate uncertainties regarding supply following trade restrictions placed on Russian oil and gas. This is propping up demand for support services despite falling oil and gas extraction in Europe since 2023. Over the five years through 2030, revenue is forecast to climb at a compound annual rate of 7.6% to €102.7 billion. New investments into oil and gas fields will provide contractors with new revenue opportunities, supporting revenue growth and expanding profitability. However, ongoing efforts across Europe to meet environmental and emissions targets, like net zero by 2050, will continue to threaten demand for oil and gas, somewhat limiting revenue growth.