Sector & service specialists

Oil, Gas & Coal Production

Upstream oil and gas production and operations identify deposits, drill wells, and recover raw materials from underground. They are also often called exploration and production companies. Europe producing 25% of the oil and almost half of the gas it uses. While reliance on imports is likely to remain important, recent domestic exploration & production dynamics suggest high remaining potential for decades to come. Eight of the biggest offshore oil and gas fields in Europe are located in Norway and the other two belong to the UK. Coal production in Europe is in long-term decline, and imports exceed production.

The oil and gas industry has always been heavily impacted by macroeconomic factors, from geopolitical tensions and climate change to government regulations and technological advancements. In the past few years, the industry has undergone a series of unprecedented pressures including the COVID-19 pandemic, tightened greenhouse gas regulations, the Russia-Ukraine War, and ongoing tensions in the Middle East. In 2024, several key trends are expected to impact the industry, including shifting global energy trade dynamics, rising M&A activity, a greater focus on decarbonization initiatives, and the rise of generative AI and other disruptive technologies.

Coal remains a vital, if unloved fuel. In Europe, during a time of unprecedented turmoil in the energy market, coal and lignite replaced lost supplies of Russian pipeline gas. Even as it is phased out, coal will continue to be part of the energy mix, both domestically mined coal and lignite and imported coal from the international market.

Specialist Consultancies

Specialist Law firms

Best in Brussels 2023/24 Report

Best in Brussels is the first and only independent resource for organisations wanting to identify, compare and choose the best partners in Brussels for their advocacy needs.

Top