
Explore the oil and gas industry from its 19th century origins to today, with up-to-date global statistics on history, geopolitics, energy sources, major players, and projected oil production and demand.
The 1986 oil counter shock shows how OPEC quotas, price cuts, and net back and spot contracts collided with rising non-OPEC supply, triggering a price collapse.
Leading in energy consumption and resources, the United States and Russia dominate energy use, while Western Europe and Japan rely on imports, with oil dominating the energy market.
Track the postwar surge in oil production, distinguish crude oil from liquid hydrocarbons (NGL and condensates), and note rising condensate output and refinery integration such as Jebel Ali.
Saudi Arabia leads crude oil production, overtaking the United States, with Russia after. OPEC holds most reserves but supplies just over half of world demand.
OPEC's share of world oil production will grow significantly in coming decades, as only Middle East countries have reserves-to-production ratios over 20 years, potentially limiting exporters to current OPEC members.
Secure oil supplies by diversifying imports and coordinating consuming countries' actions. The International Energy Agency, formed in 1974, fosters cooperation, reduces oil dependence, develops alternatives, and plans for potential disruptions.
Welcome to this online course on Oil & Gas Industry Overview: History and characteristics of petroleum, major events, players of the oil scene, consumption, production and forecast.
This training course is designed to give you a comprehensive picture of the international oil & gas industry : from its earliest development at the end of the 19th century to the current situation.
The course uses up-to-date global statistics and is organized into 3 parts :
Part 1. outlines the main characteristics of the petroleum industry, reviews the major events of its history and the associated geopolitics, analyses the place of oil among all energy sources and forecasts future prospects for oil production and demand.
Part 2. outlines the roles of the main players within the petroleum industry (consumer countries, major companies and producing countries (OPEC and non-OPEC)).
Part 3. provides a quick review of the scale of investments and profitability in the oil industry.
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