The global oil & gas industry experienced a 20% decline in the number of shale-related patent applications in Q2 2024 compared with the previous quarter. The total number of shale-related grants rose by 2% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Oil & Gas: Patents Trends Q2 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of shale-related patent applications in the oil & gas industry was 442 in Q2 2024, versus 552 in the prior quarter.
The top five companies accounted for 43% of patenting activity
Analysis of patenting activity by companies shows that China National Petroleum filed the most shale patents within the oil & gas industry in Q2 2024. The company filed 72 shale-related patents in the quarter, compared with 110 in the previous quarter. It was followed by CNPC Capital with 44 shale patent filings, China Petrochemical (33 filings), and Halliburton (21 filings) in Q2 2024.
Patenting activity was driven by China with a 65% share of total patent filings
The largest share of shale related patent filings in the oil & gas industry in Q2 2024 was in China with 65%, followed by the US (19%) and the UK (3%). The share represented by China was 4% lower than the 69% share it accounted for in Q1 2024.
For further understanding of GlobalData's Oil & Gas: Patents Trends Q2 2024, buy the databook here.
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