Volume : III, Issue : VII, July - 2014
The Overview of Global Oil Scenario
Pratik P. Valand
Abstract :
Oil plays an important role in the global energy balance, accounted for 32% of energy consumption in 2010. This proportion has changed very little in the last 20 years (the figure was 37% in 1990), despite the fact that the total amount of energy consumed worldwide has increased by more than 50% over the same period. This trend has been driven primarily in the last decade by emerging countries. At regular points throughout these two decades, questions have been raised about the growing scarcity of fossil fuel resources and the imminent inevitability of peak oil. The oil and gas sector plays a very important role in the economic and political scenario of the globe. The limited oil and gas reserve along with increasing energy requirement across the globe has led to spiraling of price resulting in supply related concerns for countries around the world.
Keywords :
Global Oil Scenario The Trend in Oil Reserves between 1991 and 2011 Global Exploration & Production Scenario of Oil Global Refinery Scenario Indian Oil Scenario.
Article:
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DOI : 10.36106/ijar
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Pratik P. Valand The Overview of Global Oil Scenario Indian Journal of Applied Research, Vol.4, Issue.7 July 2014
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Pratik P. Valand The Overview of Global Oil Scenario Indian Journal of Applied Research, Vol.4, Issue.7 July 2014
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