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Oil News

GlobalData oil and gas industry contracts by scope Q4 2025

Global oil and gas contract value remains stable

The global oil and gas industry experienced a 15 percent quarter-on-quarter decrease in the total number of contracts, from 1,596 in Q3 2024 to 1,353 in Q4 2024, said industry analyst GlobalData. Despite the dip in volume, the overall contract value remained stable, driven by the announcement of some major contracts in Africa.

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US steel tariffs drive up procurement costs across energy sector

The USA’s 25 percent tariff on steel and aluminium imports will drive up procurement costs, with the oil and gas and offshore wind energy sectors most exposed.