The oil and gas sector is a global USD$3.2 trillion industry, contributing substantial tax and other types of revenue to governments and directly employing over 4.5 million people. The fuels, products and services provided by the sector underpin everyday modern society by powering industry, generating energy for heat and electricity, and producing fuel for transport. Refined oil is also used to manufacture products, materials and chemicals, including plastics, medical equipment, clothing and personal care products. The sector develops advanced technologies and products through investment in research and development and encourages local content and entrepreneurship with associated capacity building benefits.
The energy, products and services that are needed to enable sustainable lifestyles can help lift billions out of poverty – but progress must be made in a way which supports the aims of the Paris Agreement and the 2030 Agenda. By leveraging its global footprint, deep technical resources and diverse skills, the oil and gas sector can make a significant contribution to the SDGs.
Sustainable energy has been described by UN Deputy Secretary-General Amina Mohammed as the ‘golden thread’ that links most of the SDGs and the 2030 Agenda pledge to leave no one behind.