Oil and gas contract value remains robust despite volume decline in Q4 2024 [Yahoo! Finance]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Yahoo! Finance
GlobalData. GlobalData Energy Mon, February 17, 2025 at 6:06 PM GMT+1 2 min read Global oil and gas contract activity experienced a 15% quarter-on-quarter decrease in the total number of contracts, from 1,596 in the third quarter (Q3) of 2024 to 1,353 in Q4 2024. Despite this dip in volume, the overall contract value saw strong growth, with $39.2bn in Q4 2024 compared to $38.8bn in Q3 2024. Some notable contracts awarded during Q4 2024 include a significant $4bn engineering, procurement, and construction (EPC) contract awarded to Tecnicas Reunidas (51%) and Sinopec Engineering (49%) replacing its previous joint venture partner Samsung Engineering for a five million tonnes per annum new deep conversion oil refinery in Algeria's Has
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