Global oil and gas discoveries hit 40-year low on investment cutbacks

Decarbonization push, growing technical difficulty among downward pressures Energy companies are looking for oil and gas fields in previously unexplored regions, like this natural gas development from Japan's Inpex in Australia. (Inpex) TOKYO — The number of new oil and gas field discoveries worldwide in 2025 fell to the lowest level in more than 40 years, with volumes at those fields falling to one-tenth of the 2013 peak, as reduced investment by global energy companies weighs on exploration activity.

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