Oil and gas are essential to modern life. They fuel industries, power transportation, and provide energy to heat and cool homes. Natural gas plays a crucial role in generating electricity, while oil drives the movement of goods and people globally. Without these resources, factories would halt, transportation would cease, and both agriculture and manufacturing would come to a standstill.
Beyond powering daily life, oil and gas are vital raw materials for thousands of everyday products. The industry also supports millions of jobs and is a key pillar for local, state, and national economies.
World Energy Cnsumption
EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia.
The U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia.
The Schlumberger Oilfield Glossary has received Awards of Excellence from the Business Marketing Association and the Society for Technical Communication. Launched in 1998, the Oilfield Glossary, which includes more than 4600 entries, continues to expand and improve. Drill into this reservoir of terminology!