Insight
Class of 2025: benchmarking this year's upstream FIDs
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Report summary
Major project FIDs in 2025 will remain suppressed as cost discipline and global uncertainty lingers. Fewer major projects are in the running to take FID in 2025 than previous years, but we expect a higher proportion of these 33 will proceed. In total, up to US$110 billion of investment and 14 billion boe could be sanctioned in 2025. NOCs in the Middle East will again sanction the largest projects by reserves and capex. But the Majors, especially Eni, will also be busy.
Table of contents
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Executive summary
- Major project FIDs in 2025 will remain suppressed as cost discipline and global uncertainty lingers
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Slides and key messages
- Summary and context
- Project economics
- Emissions and decarbonisation
Tables and charts
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What's included
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