Globally, the major exploration discoveries have been mainly concentrated in the deep water area of passive margins, carbonate rock, lithologicstratigraphic zone, foreland thrust belt, mature exploration area, new basin and unconventional oil/gas reservoir in recent years. Not only the conventional reservoirs including structural, lithologic-stratigraphic and structural-lithologic reservoirs, but also the unconventional reservoirs such as tight sandstone and shale have all become the important exploration targets. The exploration locations cover both conventional and unconventional petroleum distribution ranges. The former include continental margin, craton basin, foreland thrust belt and slope, and the latter include deep water slope and central lacustrine. The petroleum exploration shows the characteristics of all kinds of targets, complex environment and difficulty increase. Therefore, it has been the key work to strengthen the research on the sedimentology and  reservoir and to find the favorable reservoirs. Also, the progess of global petroleum exploration has provided further direction of sedimentology and reservoir study. Particularly, the establishment of sequence stratigraphy standardization and 3D lithosomic body pattern, integrative research on sedimentation, diagenetic evolution and reconstruction of marine carbonate and clastic reservoirs, modeling of deep water sedimentation and distribution of reservoir, development of effective porosity with deep lying reservoir and its maintenance mechanism, quantitative characterization of nanometer pore and throat system in unconventional reservoirs such as tight sandstone and shale, formation mechanism of peculiar reservoirs such as volcanics and metamorphites, and tackling key problems in sedimentation and diagenetic physical and numerical modeling will certainly provide theory support for global petroleum exploration.