The global oil & gas industry experienced a 35% drop in company filings mentions of hydrogen in Q2 2023 compared with the previous quarter, with the highest share accounted for by Snam with 60% year-on-year decrease, according to GlobalData’s analysis of over 132 oil & gas company filings. GlobalData’s Hydrogen in Oil and Gas – Thematic Research report assesses strategies and initiatives adopted by oil and gas companies to gain a competitive advantage in the hydrogen sector, key trends and the leading companies in the market. Buy the report here.

Notably, hydrogen was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of low cost evolution and renewable energy, according to GlobalData.

Of the top leading companies in the oil & gas industry, Snam had the greatest increase in references for hydrogen in Q2 2023, compared with the previous quarter. GlobalData identified 37 hydrogen-related sentences in the company's filings - 1% of all sentences - and a decrease of 60% in Q2 2023 compared with Q2 2022. BP’s mentions of hydrogen dropped by 5% to 19 and Hong Kong and China Gas’s by 100% to 14 and Saudi Arabian Oil’s by 400% to 10 and TotalEnergies’s by 84% to 9.

GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for hydrogen in Q2 2023 was 102.

For further understanding of GlobalData's Hydrogen in Oil and Gas - Thematic Research buy the report here.

This content was updated on 5 August 2023

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.