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World Energy Employment 2024 Executive summary
Global energy employment outperformed broader labour market trends in 2023. The global energy sector added nearly 2.5 million jobs in 2023 on the back of rising investment, bringing total employment to over 67 million workers. Employment in energy – which in this report includes energy supply, the power sector, end-use efficiency and vehicle manufacturing – rose by 3.8%, outpacing the economy-wide average of 2.2%. Energy job growth was fuelled by record levels of investment across a wide range of energy sources in the wake of the global energy crisis. As a result, jobs grew rapidly in both…
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World Energy Investment 2025 Middle East
…40% of upstream investment is consistently drawn from foreign sources. In Iraq, about 70% of upstream investment comes from foreign sources and is increasing with the country set to award 30 new oil and gas projects in the latest two licensing rounds.In the power sector, natural gas provides two-thirds of the region’s power, and the Middle East, together with the United States, accounted for nearly half of all new natural gas-fired financial investment decisions in 2024. The region also has growing contributions from renewables and nuclear, which have doubled their share since 2015 to reach almost…
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Gas Market Lessons from the 2022-2023 Energy Crisis Policy response to the crisis
…cross-border trade in natural gas flourished with the standardisation of capacity bookings and the deepening of liquidity at trading hubs across the continent. Additionally, EU policy and regulation emphasised the importance of adequate infrastructure and its efficient use. These measures supported continued investment in interconnections with financial support and accelerated permitting for key cross-border infrastructure projects through Projects of Common Interest and Projects of Mutual Interest. The measures also introduced bidirectional flow obligations at cross-border pipeline interconnection points between member states.The European Union’s gas market design – the product of a long-term and concerted regulatory…
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Coal Mid-Year Update 2025 Overview
…5% in 2024 to reach 8.79 billion tonnes (Bt), a new record. The growth was the slowest annual rate since the Covid-19 crisis in 2020 caused coal demand to decline. The post-Covid economic recovery and high natural gas prices have driven a sharp rise in global coal demand in recent years, but the growth has slowed year-on-year since 2021. Coal demand grew by 7.7% in 2021, 4.4% in 2022 and 2.3% in 2023. Despite slowing demand growth on an annual basis, the cumulative increase since 2020 amounts to more than 16%.Coal…
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World Energy Outlook 2022 The global energy crisis
…risks and trade-offs between various policy objectives. Key findings The recovery in global energy consumption that followed the pandemic-induced drop in 2020 ended prematurely with Russia’s invasion of Ukraine in early 2022, plunging global energy markets into turmoil, stoking inflationary pressures and slowing economic growth. The strains on markets did not begin with Russia’s invasion of Ukraine, but they have been sharply exacerbated by it. This has led to volatility and steep spikes in energy prices, particularly for natural gas in European markets, and the menace of further disruption to supply looms large. Amid this turmoil…
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Coal 2025 Investments in coal projects and emissions abatement
…be interpreted with caution.Some trends observed last year have continued. In Russia producers are advancing infrastructure development in the Far East to support specific coal projects. In Africa there is renewed interest in projects in Mozambique. Australia is progressing with met coal developments, while market conditions have driven the sale of several assets to larger mining firms. In the United States the new administration has adopted a more favourable stance towards coal, introducing measures to promote production and demand, which is expanding the project pipeline.Activity in mergers and acquisitions, which was driven by high coal prices between 2022 and…
- Executive summary
- Demand
- Supply
- Trade
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+ 2 pages
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Prospects for Natural Gas Certification Executive summary
…from natural gas operations, nor does it eliminate emissions from its end-use combustion. However, by improving transparency on GHG emissions along the natural gas supply chain – particularly on methane, a potent short-lived climate pollutant – certification can incentivise operators to introduce measures to reduce these emissions. Since methane is the main component of natural gas, action to reduce methane emissions can also bring additional gas to market. More than 50 bcm of additional gas could be brought to markets by reducing methane leaks and flaring along natural gas supply chains.This report examines the current status of natural gas certification…
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The Implications of Oil and Gas Field Decline Rates Executive summary
…this issue. Decline rates – the annual rate at which production declines from an existing oil or gas field – underpin our analysis of market balances and investment needs across all outlook scenarios.Nearly 90% of annual upstream oil and gas investment since 2019 has been dedicated to offsetting production declines rather than to meet demand growth. Investment in 2025 is set to be around USD 570 billion, and if this persists, modest production growth could continue in the future. But a relatively small drop in upstream investment can mean the difference between oil and gas supply growth and static production. At…
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Global Energy Review 2025 Global trends
…after the highs of 2022. Yet geopolitical risks persisted, and some markets remained exposed to volatility. The main European gas price benchmark, the TTF, doubled by December 2024 from its lows in February 2024. GDP growth in advanced economies slowed slightly to 1.7% in 2024. Continued stronger growth in the US was bolstered by healthy sentiment and consumer confidence. By contrast, the European Union saw weaker growth, amid competitiveness concerns. In emerging market and developing economies growth remained robust but slowed slightly to 4.4%. People’s Republic of China (hereafter, “China”) reported growth at 5%, supported by strengthening manufacturing…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 3 pages
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Gas Market Lessons from the 2022-2023 Energy Crisis Anatomy of a natural gas crisis
…2019 – a significant concentration in gas supply for the bloc.This increased supply concentration and reliance on Russian gas occurred against a particular geopolitical backdrop: Previous breaches in energy security, including the temporary interruptions of Russian pipeline gas supply to Ukraine in both 2006 and 2009, had downstream implications for EU energy security, prompting EU legislation on supply security and gas market liberalisation. The unravelling of this dominant Russian supply position began ahead of the 2021/22 heating season through two significant and related developments. Russian pipeline flows to Europe fell by about 25% year on year in Q4 2021…