The oil and gas industry is one of the world's largest and most capital intensive industries and produces end products such as fuel oil, natural gas and gasoline but also the raw material for many chemical products.

The industry has three major segments: exploration and production of oil and natural gas (upstream); transportation, storage, and trading of crude oil, refined products, and natural gas (midstream); and refining and marketing of crude oil (downstream).

The oil and gas industry has opportunities both to contribute to the broader social goals of the initiative and to realize enhanced business value in the areas of revenue growth, cost reduction, brand enhancement, and risk management.

On the other site, half of all energy supplied to the world is provided by oil and gas and energy demand is expected to continue to grow.