Fibre-reinforced polymers (FRPs) have been effectively applied in various scientific and engineering applications. FRPs have several advantages over traditional construction materials, including high strength-to-weight ratio, corrosion resistance, and durability. They have been widely used in various applications such as aerospace, automotive, civil infrastructure, and marine structures. The properties of FRPs can be tailored by adjusting the type, volume, and orientation of the fibres, as well as the type of polymer matrix used. However, their long-term durability and behavior under different environmental conditions are still areas of research. This article reviews fundamental studies on FRPs, well-established ideas, and some discrepancies that authors have previously reported. The advantages of FRPs relate to their physical characteristics and flexible production techniques that can enhance their performance, durability, and life span. This article also provides information on the main processing parameters of fibre-reinforced polymers (FRPs) and their utilization in the oil and gas industry. The descriptions focus primarily on the many types of synthetic fibres and the qualities that come from their components. The findings show that basalt and aramid fibres are preferred over glass and carbon fibres, and thermoset matrices are more favorable than thermoplastic. The review also discusses the Reinforced thermoplastic (RTPs) used in the oil and gas industry, its processing parameters and failures in detail, and a future recommendation, particularly for drilling, refining, and production pipelines. Also, the scope for future studies. © 2023 The Authors