Facts Everyone Should Know About the Oil and Gas Industry

Oil and gas professionals deal with a turbulent industry. Impacted by many factors including global economies, environmental concerns, and production abilities. While some could also be concerned about the longer-term of oil and gas, many believe in its continuing need throughout the planet for several years to return. Here are some facts that provide a clearer idea of where the industry and its manpower stand.

The Planet uses over 36 billion barrels of oil per annum

Around the world, people use around 100 million barrels of oil and liquid fuels per day, which adds up to over 36 billion barrels per annum. This number has been rising instead of falling over the last decade and should still rise despite the increasing popularity of other and green energy resources.

The US is that the top oil producer within the world

The US remains the highest producer and consumer of oil with an output of over 14 million barrels per day, and American boring make up approximately one-seventh of the world’s total boring. With increasing energy independence and production output, oil and gas companies are doing exceptionally well within the U.S., signaling many job opportunities for citizens and foreign professionals. In fact, experts recently predicted that this boom would create a minimum of 100,000 jobs within the oil and gas industry within the U.S. alone.

Employee compensation within the oil and gas industry is up

Compensation for professionals within the oil and gas world is higher on the average than it’s been within the last two years. Despite facing challenges and competing with renewable energy, professionals still maintain and improve their salaries.

Australia and Oceania professionals are the third-highest paid in oil and gas

European salaries are at the highest at over $109k USD and Africa’s salaries nearly break six figures with approximately $98k USD. But compensation for Australia and Oceania workers isn’t far behind at a mean of $94k USD per annum.

The simplest compensation are often found in drilling

Although most oil and gas positions offer generous salaries throughout the planet, drilling far and away pays the foremost. Rigzone’s compensation data shows drilling positions at favorite with a mean salary of nearly $112k USD.

Australia is becoming the world’s largest LNG exporter

Australia is rapidly becoming the most important exporter of liquid gas and is even predicted to surpass Qatar by 2020. Some sources say that the expansion of the LNG industry in Australia will still attract. Project investments and open up long-term employment opportunities. This is often largely because of an abundance of production sources, seam gas and gas fields, located offshore. Within the north and west and onshore within the east.

Australia is mixing gas and renewable energy to support a secure power supply

Australia is one of the sole countries that’s combining renewable energy with gas to make a safer power supply. While renewable energy continues to rise. Gas is playing a crucial role in supporting and maintaining that energy supply. Which strengthens the industry and job market as an entire.

Gas accounts for about two-thirds total production in Australia

Unsurprisingly, gas is that the main resource produced in Australia. Making up around two-thirds of total production. petroleum is second. Making up about one-fifth of Australia’s produced energy resources. seam gas makes up a touch quite eight percent, LPG makes up approximately four percent. And oil and gas makeup but one-hundredth of total production.

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