IFP today is a research and industrial development, training, and information services center that develops and deploys technologies and expertise in the fields of energy, transportation, and the environment.

In addition to its traditional fields - exploration-production, refining-petrochemicals, and engines - IFP has in recent years developed highly specialized know-how in the diversification of sources of fuels and in the fight against CO₂ emissions (capture, transport and storage).

To deliver research results relevant to market needs, now and in the future, IFP makes sure of the interest of industrialists at a very early stage by associating them closely with its programs. This partnership with industry sometimes takes the form of joint research (consortium, joint industrial project, bilateral project, etc.) or of services, but it most often operates through the licensing of processes, software, equipment, and products.

IFP may also, when precise selection criteria are satisfied, accompany the development of SMEs or the creation of companies by transferring technologies or investing capital.

In its skill areas, IFP also offers a very broad range of training programs, both in France and abroad:
- graduate education of young engineers at the IFP School,
- continuing professional training for industry managers and technicians through IFP Training.

Finally, in information services, IFP pursues an active policy of dissemination of its scientific, technical, and economic knowledge to government agencies, industry, and technicians and researchers.