UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Emerging trends in the global oil and gas sector
14/5/2025
8 min read
Feature
The oil and gas industry is at a significant juncture. Energy companies, investors, regulators and other stakeholders are re-evaluating their strategies relating to the energy sector. Darren Spalding and Kirsty Delaney of law firm Bracewell (UK) LLP identify emerging trends shaping the industry in the short-to-medium term as the market evolves.
The transition to cleaner energy continues, but there is growing recognition of the enduring role of oil and gas, which is tempering the pace. The ‘longevity’ of fossil fuel-based energy sources has recently been acknowledged – albeit cautiously – by the industry’s major players.
For example, companies such as BP and Equinor have made public announcements in relation to their shift in focus back to traditional oil and gas production, tempering their previous renewables ambitions. Notably, the International Energy Agency (IEA) forecasts continued growth in global oil and gas demand until at least 2030, followed by a long period of ‘only’ modest decline in demand.
However, one challenge for hydrocarbons companies in 2025 will be maintaining and replenishing their reserves. This could be through traditional exploration and development activity, with potential hotspots including Africa’s Atlantic Margin and the Mediterranean.