Hydrogen in Oil and Gas: Strategic Intelligence
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The global hydrogen economy is evolving, entering a new inflection point in 2026 amid shifting market realities, changing policy landscapes, and critical execution challenges. As of February 2026, active low-carbon hydrogen capacity stood at around 2.2 mtpa, with over 460 projects in operation, compared to 104 in 2020. Yet, despite an impressive increase in count of active projects, capacity additions remain far below the levels needed to meet the near-term targets set by the IEA Net Zero Emissions (NZE) scenario. Majority of projects starting by 2030 are still in the feasibility stage, with a low likelihood of being commissioned on schedule. Financing hurdles have deepened as demand projections have softened, particularly in North America, where policy change has weighed on the progress of certain high-profile projects.
Scope
This report evaluates the participation of oil and gas companies in hydrogen economy.
It analyses the scope of hydrogen for the oil and gas industry and identifies key players across the value chain.
The report provides an overview of the competitive positions held by oil and gas companies, and contractor companies in the hydrogen theme.
The report includes sector scorecards for integrated oil companies ranking them with respect to thematic exposure, market valuation, and overall investment risk.
Reasons to Buy
Identify recent industry, technology, and regulatory trends in the hydrogen theme.
Evaluate the participation of oil and gas industry players in hydrogen economy.
Identify and benchmark key oil and gas companies and their role in the hydrogen theme.
Identify and benchmark key contractor companies participating in the hydrogen market.
Table of Contents
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