The oil and gas industry in Europe plays a significant role in the continent's economy, driven by various companies involved in exploration, production, and distribution of energy resources. Major players like Shell and TotalEnergies stand out for their substantial contributions and global reach. This sector is currently navigating the dual challenges of market volatility and the urgent need for sustainable practices, as investors increasingly focus on clean energy initiatives. With advancements in technology and policy support for green projects, the industry is subtly shifting towards a balanced approach that embraces both traditional hydrocarbon extraction and renewable energy options.


In 2024, a variety of investors shaped the oil and gas industry landscape in Europe. The list of investors ranges from corporate giants like Shell, based in London, to private equity firms such as EQT Group from Stockholm. With companies varying in size from small firms with under 50 employees to extensive organizations employing over 10,000, they collectively executed a record number of deals, highlighting their ongoing engagement in the sector.


Top 18 Oil and Gas Investors in Europe


1. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, founded in 1907. It operates in the energy and chemicals sectors, providing essential products such as fuels, lubricants, and chemical solutions to businesses and consumers. Shell is actively involved in the extraction, refining, and distribution of oil and gas, serving a diverse range of industries globally. Notable transactions include the acquisition of Equilon and Motiva, which made Shell the largest petrol retailer in the US, and the acquisition of Arrow Energy for A$3.5 billion, enhancing its coal bed methane assets in Australia. Additionally, Shell acquired Total's 26% stake in the Hazira LNG terminal in India, further solidifying its presence in the energy market. The company also increased its stake in Petromanas Energy Inc. from 25% to 100%, showcasing its commitment to oil assets in Albania. These transactions highlight Shell's significant role in the oil and gas industry.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. EIB aims to support sustainable projects across various sectors, including energy. In 2023, EIB participated in a significant debt financing transaction for Repsol Energy Ventures, raising approximately $635 million, which highlights its engagement in the oil and gas sector. Additionally, in 2024, EIB was involved in financing Orlen with a post-IPO debt of around $219 million, further demonstrating its active role in supporting oil and gas companies. Other transactions, such as those with Energias de Portugal and Depa, while not directly in oil and gas, indicate EIB's broader commitment to energy-related projects. Overall, EIB's involvement in these transactions positions it as a relevant investor in the oil and gas industry.


3. TotalEnergies


TotalEnergies is a corporate investor based in France, founded in 1924, and employs over 10,000 people. The company focuses on producing and marketing a diverse range of energy solutions, including oil, gas, and renewable energy. TotalEnergies has made significant investments in the oil and gas sector, including a recent acquisition of a 16.33% stake in Libya's Waha Oil concessions from Marathon Petroleum for $450 million, which grants them access to over 500 million barrels of oil equivalent. Additionally, they acquired Engie's portfolio of upstream LNG assets for $1.5 billion, becoming a partner in Cameron LNG, and finalized a 16.7% interest in the second liquefaction train of Qatargas II. These transactions underscore TotalEnergies' commitment to maintaining a strong presence in the oil and gas industry while also pursuing sustainable energy solutions.


4. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a strong focus on oil and gas, alongside a growing commitment to renewable energy. Founded in 1972, Equinor has established itself as a key player in the oil and gas market, serving a diverse customer base that includes governments and industries. The company has been involved in significant transactions, such as its investment in Petrobras, which raised funds through post-IPO equity, and its equity investment in Upwing Energy, aimed at advancing downhole gas compressor technology. Additionally, Equinor's involvement in the acquisition of Spirit Energy's Norwegian operations highlights its active role in the oil and gas sector. With a goal to achieve net-zero emissions by 2050, Equinor is balancing its traditional oil and gas operations with a forward-looking approach to energy sustainability.


5. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. Notably, EQT Group has made significant strides in the oil and gas industry through various key transactions. In December 2013, EQT acquired Aker Solutions for approximately $663 million, a move that bolstered its presence in the oil and gas services sector. More recently, in July 2024, EQT Corporation completed its acquisition of Equitrans Midstream Corporation for about $5.5 billion, creating a large-scale, vertically integrated natural gas business in the United States. Additionally, EQT Infrastructure Fund's acquisition of Swedegas in 2010 aimed to enhance the Swedish gas market, further solidifying EQT's role in the energy sector. These transactions highlight EQT Group's active participation and investment in the oil and gas industry.


6. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, providing institutional capital to energy production and infrastructure projects. HitecVision emphasizes sustainability and the energy transition, managing private equity funds and partnering with various stakeholders to drive growth in both renewable energy and traditional energy sectors. Notable transactions include the acquisition of CapeOmega and Ross Offshore, both of which are involved in oil and gas operations. Additionally, HitecVision participated in the equity financing of Noreco, a Norwegian energy company, further solidifying their presence in the oil and gas industry. Their investments in Vår Energi and Sval Energi also highlight their commitment to supporting energy companies, regardless of their focus on renewables or traditional oil and gas.


7. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm provides growth funding and value creation support to small and mid-sized businesses in the UK and Ireland, focusing on addressing the funding gap in the market. BGF has been actively involved in the oil and gas sector, making significant investments in companies such as Aubin Group, which received £2.25m to commercialize new products and expand its team; Glacier Energy Services, where BGF acquired a minority stake; and Magma Global, which received £8.76m to build a manufacturing facility for carbon fibre pipes used in the oil and gas industry. Additionally, BGF invested £3.5 million in Isol8, an oil and gas services firm, to support its growth and development of zero-emissions products. These transactions highlight BGF's commitment to supporting innovation and growth within the oil and gas sector.


8. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. The platform promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions relevant to the oil and gas sector, including OGEL, which raised an undisclosed amount in equity crowdfunding in August 2021, and Cornish Lithium, which raised over $6 million in September 2023. These transactions highlight Crowdcube's role in supporting companies within the oil and gas industry, making it a significant player in this investment space.


9. EV Private Equity


EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future. Notably, EV Private Equity has been involved in several transactions relevant to the oil and gas industry, including investments in Reach Production Solutions and Abrado Wellbore Services, both of which are engaged in providing solutions for oil and gas operations. Additionally, their investment in Zilift Limited, a UK-based provider of artificial lift solutions for the oil and gas industry, highlights their commitment to supporting innovations that enhance efficiency and sustainability in this sector.


10. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG is a prominent investment bank and financial services provider based in Frankfurt, Hesse, Germany, founded in 1870. The bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. In 2024, Deutsche Bank was involved in 32 investments, showcasing its active role in various sectors. Among its notable transactions, Deutsche Bank participated in debt financing for Pemex, a key player in the oil and gas industry, on August 22, 2024. Additionally, the bank was part of a $3.33 billion financing for Varo Energy, which is planning to invest significantly in energy, including oil and gas, over the next few years. Deutsche Bank also facilitated a $600 million debt financing for BB Energy, further highlighting its engagement in the oil and gas sector. These transactions illustrate Deutsche Bank's capability and willingness to invest in the oil and gas industry, alongside its broader investment portfolio.


11. Groupe Crédit Agricole

  • Website: credit-agricole.com
  • Type: Private Equity
  • Headquarters: Montrouge, Île-De-France, France
  • Founded year: 1894
  • Headcount: 10001+
  • Number of deals in 2024: 18
  • LinkedIn: credit-agricole

Groupe Crédit Agricole is a cooperative banking group based in Montrouge, Île-De-France, France, founded in 1894. It provides a wide range of financial services, including banking, insurance, and investment management, with a strong commitment to mutuality and social responsibility. In recent years, Crédit Agricole has been actively involved in the oil and gas sector, participating in significant debt financing transactions. Notable deals include an $8 billion post-IPO debt raise for the Abu Dhabi National Oil Company in June 2020, a $736 million post-IPO debt raise for Reliance Industries in November 2021, and a $600 million debt financing for BB Energy in October 2023. These transactions highlight Crédit Agricole's active role in supporting the financial needs of companies within the oil and gas industry.


12. Mercuria


Mercuria Energy Group Ltd. is a global energy trading company based in Geneva, Switzerland, founded in 2004. The firm specializes in the commodity markets, with a strong emphasis on crude oil and natural gas, alongside renewable energy initiatives. Mercuria has been actively involved in various significant transactions in the oil and gas sector, including a $650 million debt raise for Oando and an $825 million debt raise for MACH Resources. They also participated in a $700 million debt financing for Northwind Midstream Partners. Furthermore, Mercuria's acquisition of Noble Americas Gas & Power Corp. highlights their strategic investments in the energy market. Their diverse customer base includes industries reliant on energy procurement and management, showcasing their integral role in the energy landscape.


13. Ardian

  • Website: ardian.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 21
  • LinkedIn: ardian

Ardian is a prominent investment management firm based in Paris, specializing in private equity, real assets, and credit solutions. Founded in 1996, Ardian has established a global presence and focuses on sustainable finance, aiming to create lasting value for its clients, which include institutional investors, family offices, and pension funds. Among its notable transactions, Ardian acquired Géosel in September 2015, a company involved in oil logistics and storage, highlighting its engagement in the oil and gas sector. Additionally, Ardian has participated in funding rounds for companies like SPMR and Enovos, further showcasing its diverse investment portfolio that includes energy-related ventures. This strategic approach allows Ardian to access high-quality private market investments across various industries, including oil and gas.


14. Glencore

  • Website: glencore.com
  • Type: Corporate
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1978
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: glencore

Glencore plc is a multinational commodity trading and mining company based in Baar, Zug, Switzerland, founded in 1978. With over 10,000 employees, Glencore operates across various sectors, including metals, minerals, and energy. The company supplies essential commodities such as copper, cobalt, and oil to businesses and organizations, supporting their production and manufacturing needs. Notably, Glencore has been active in the oil and gas sector, highlighted by their acquisition of 75% of Astron Energy and 100% of Astron Botswana from Chevron South Africa in 2019, aimed at enhancing growth and increasing black economic empowerment. Additionally, they participated in Tullow Oil's recent debt financing, raising $400 million in November 2023. Their involvement with Rosneft in a post-IPO equity transaction further underscores their engagement in the oil and gas industry. Glencore is committed to responsible sourcing and sustainability in its operations, reflecting a modern approach to commodity trading and investment.


15. Blue Water Energy LLP


Blue Water Energy LLP is a private equity firm based in London, England, founded in 2011. The firm specializes in providing growth capital and strategic support to businesses in the energy sector, with a particular emphasis on enhancing operations and promoting sustainable practices. Blue Water Energy has been involved in several notable transactions in the oil and gas industry, including a $500 million investment in Siccar Point Energy in 2014, a $250 million investment in Wellesley Petroleum in 2015, and a $300 million investment in Mime Petroleum in 2017. These investments demonstrate their active participation in the oil and gas sector, alongside their commitment to supporting energy transition initiatives.


16. TotalEnergies Ventures


TotalEnergies Ventures is the corporate venture capital arm of TotalEnergies, a global integrated energy company headquartered in Paris, France. Founded in 2008, the firm focuses on investing in innovative energy solutions across various sectors, including oil, natural gas, and renewable energy. TotalEnergies Ventures has been involved in several notable transactions, including investments in Gevo, a company that specializes in renewable fuels, where TotalEnergies participated in multiple funding rounds from 2009 to 2013. Additionally, they invested in 45-8 ENERGY, which raised over $5.6 million in a Series A round in 2021, and Booster, which secured $56 million in a Series C round in 2019. These investments reflect TotalEnergies Ventures' commitment to supporting advancements in energy technology while maintaining a connection to the oil and gas industry.


17. Head of Data Technology Office at Intesa Sanpaolo


The Head of Data Technology Office at Intesa Sanpaolo is part of a major banking and financial services provider based in Turin, Italy. Founded in 2007, Intesa Sanpaolo offers a wide range of financial products, including loans and investment management services. In 2024, they were involved in several significant transactions, particularly in the energy sector. Notably, they participated in the debt financing of Edison Spa, which raised over $1 billion, and Chiron Energy, which received multiple rounds of funding. These transactions highlight their active role in financing companies that are directly related to the oil and gas industry, showcasing their capability and interest in this sector.


18. RSK Group

  • Website: rskgroup.com
  • Type: Corporate
  • Headquarters: Helsby, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rsk-group

RSK Group is a corporate investor based in Helsby, England, specializing in environmental consultancy and engineering services. Founded in 1989, the company has grown to employ over 10,000 professionals and provides a wide range of services across various sectors, including energy, healthcare, and construction. In recent years, RSK has made several strategic acquisitions to bolster its capabilities in the energy sector. Notably, they acquired Axis Well Technology in June 2023, which enhances their service offerings in the oil and gas industry. Additionally, their acquisition of Proeon Systems in August 2022, a company that provides industrial control and safety services, further indicates their commitment to sectors that intersect with oil and gas operations. RSK's focus on sustainability and environmental assessments positions them as a key player in helping oil and gas companies navigate environmental challenges while improving their sustainability practices.



Oil and Gas Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
ShellLondon, England, United Kingdom (UK)10001+190720
European Investment Bank (EIB)Luxembourg1001-5000195899
TotalEnergiesFrance10001+192411
EquinorStavanger, Rogaland, Norway10001+19726
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
HitecVisionStavanger, Rogaland, Norway51-20019850
BgfLondon, England, United Kingdom (UK)51-200201153
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
EV Private EquityStavanger, Rogaland, Norway11-5020020
Deutsche BankFrankfurt, Hesse, Germany10001+187032
Groupe Crédit AgricoleMontrouge, Île-De-France, France10001+189418
MercuriaGeneva, Geneva, Switzerland1001-500020047
ArdianParis, Île-De-France, France1001-5000199621
GlencoreBaar, Zug, Switzerland10001+19783
Blue Water Energy LLPLondon, England, United Kingdom (UK)11-5020110
TotalEnergies VenturesParis, Île-De-France, France10001+20080
Head of Data Technology Office at Intesa SanpaoloTurin, Piedmont, Italy10001+200731
RSK GroupHelsby, England, United Kingdom (UK)10001+19893


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