Global Oil and Gas Industry

The global oil and gas industry involves exploring, extracting, refining, and selling fossil fuels used for energy, heat, and transportation. It’s a complex sector with companies searching for underground or underwater reserves, drilling wells, and processing raw materials into usable products like gasoline and natural gas. This industry significantly impacts the world economy, influencing energy prices and geopolitical relations. While essential for daily life and industry, it also faces challenges from environmental concerns and shifts toward renewable energy sources, driving innovation and transformation within the sector.