<p>The hydrocarbon industry is of paramount importance to the global economy, as it provides vital fuels and chemicals which in turn drive many sectors, such as transportation, manufacturing, and energy generation. On the other hand, the chemical processes in hydrocarbon extraction, processing, and distribution are so complicated that they represent considerable safety risks. These risks aggravated by the potential for disasters, which could lead to death, destruction of the environment, and bear heavy financial costs. The central theme is the need for Safety Management Systems (SMS) for (a) bringing safety into daily practice, (b) ensuring compliance with regulations, and (c) minimizing chemical process risks. This paper presents a review of the process safety in the hydrocarbon sector and discuss the variety of hazard identification techniques like Hazard and Operability Studies (HAZOP) and Failure Mode and Effects Analysis (FMEA), the systematic and logical concepts of minimization of hazards. Additionally, it reveals the best experiences knowledgeable in the past from major research lessons. Therefore, the failures observed from the past can serve as the basis for introducing, and communicating, and safeguarding in the present. The interlacing studies of the latest techniques and new technologies with the creation of a proactive safety culture that is to state risk management, as the leading priority, and continuous improvement is also presented. The industrial sector managed to make a breakthrough in technological advancement with the integration of more sophisticated approaches such as artificial intelligence and predictive analytics. These new developments are now synonymous with a more relaxed and sustainable operating environment for the hydrocarbon industry.</p>