Oil and Gas Industry: Facts and Statistics

The oil and gas industry has the highest number of job losses as a result of explosions and fires. Of the 4,679 workers who died at work in the US in 2014, 142 were employed in the oil and gas industry. This represents 3% of all deaths, even though the industry employs less than 1% of all workers.

About 80% of the world’s oil and gas reserves are controlled by national oil companies. Oil and gas production is the sub-sector that operates and develops oil and gas fields and properties. Crude oil activities include exploration, drilling, production, field processing, storage and transportation of oil.

Alberta’s oil sands are an upstream energy sector that includes oil sands, conventional oil and gas extraction and extraction. Oil sands accounted for 63% of Canada’s oil production in 2019, at 2.95 million barrels per day. Of the remaining established reserves, Canada has a record 16.77 billion barrels of crude oil. This means there are also a very large number of companies dealing with oil field equipment for sale.

The five largest firms – Suncor, Canadian Natural Resources, Limited, Imperial Oil, Husky and Cenovus – account for roughly half of crude oil production in Canada. The oil and gas sector accounts for about 50% of gross domestic product and 70% of export revenues.

The ten largest oil companies produced more than 40 million barrels per day in 2015. This represents 40% of the world’s total production. The United States remains the largest producer and consumer of oil; consuming 14 million barrels per day. American oil production accounts for a seventh of global oil production. Overall, the world consumes 3.6 billion barrels (58 km3) of oil per year, with 1% of developing countries being the largest consumers.

The increasing energy independence and production performance of oil and gas companies in the United States signal many employment opportunities for citizens and foreign professionals alike. Indeed, experts predict that this boom will create at least 100,000 jobs in the US oil and gas industry. This will in turn also increase demand for oil field equipment for sale.

On average, the oil and gas industry provides billions of dollars in revenue to the US Treasury each year in bonuses, rents, royalties, and income tax payments. Professionals in the sector are on average a third of the highest paid in the world in some regions.

Energy trends show that the oil and gas industry will continue to prosper as its production and energy demand continue to rise. For the foreseeable future, natural gas and oil appear to remain the primary sources of reliable energy.

Sixty percent of California’s energy consumption is oil and 30 percent is natural gas. The oil and gas industry is the largest sector in terms of total stationary emission sources reported by the GHGF. This makes the oil field equipment for sale a big industry as well.

The Greenhouse Gas Reporting Programme requires annual reporting of greenhouse gases from 41 source categories, including power plants, oil and gas extraction and refinery, iron and steel plants and landfills. Also included are data on energy reserves, exploration, drilling, production, finance, prices, demand, raffining, imports, exports, offshore transport of natural gas, Organisation of Petroleum Exporting Countries and environmental. The data presented in the US summary tables in this section are broken down by type of well (oil wells, gas wells, dryholes and depth intervals).

This section presents sectoral data on the number of deaths at work and the number of injuries and illnesses at work per 100 full-time oil and gas workers. In addition, the current hourly and annual earnings for each occupation occurring in the industry are shown. This section also presents data on the number of companies in the oil and gas industry.

According to OPEC and the US Energy Information Administration, members of the Organization of Petroleum Exporting Countries (OPEC) produce 39% of the world’s crude oil and hold 79.4% of the world’s proven oil reserves. Distribution of oil and gas reserves among the 50 largest oil companies in the world. The oil produced by these companies accounts for less than 15% of the total global supply.

In 2019, the United States produced 12.248 million barrels of crude oil per day. Total global crude oil production rose by 2.8 million barrels per day in 2015. Conventional crude oil production peaked in 2019 at 17.4 million barrels per day.

At least 2,000 active oil and gas wells are mapped in waters off the California coast. The tragic oil spill in Santa Barbara in 1969, an oil spill with 883 barrels of oil, was the result of OCS operations (natural gas and oil) in offshore waters. Scientists found leachate at a large leachate basin known as the Offshore Coal and Oil Point, which is between 150 and 170 barrels per day.

The bulk of US oil production is extracted from sandstone and carbonate reservoirs. Shale basins like the Permian Basin and Eagle Ford have become huge production sites for some of the country’s largest oil companies. The Permian Basin and Eagle Ford Shale Play in Texas are one of the most drilled targets for conventional and unconventional oil such as shale and oil sands.

In 2009, Wyoming recorded the highest production of natural gas production of the year, but the same year marked the lowest production of crude oil since 1954.