In 2017, a record low oil volume was discovered in the world


Oil companies around the world this year found only 6,7 billion barrels of oil - this is the minimum figure for more than 70 years of the global oil industry. This was reported by independent Norwegian consulting company Rystad Energy.


"We have not seen anything like this since the 1940s. The detected volumes averaged about 550 million barrels of oil equivalent per month, "said senior analyst of Rystad Energy Sonya Passos.


It is noted, that the most alarming signal for potential hydrocarbon consumers is the fact that the discovered oil and gas deposits just 11% covered the volume of raw materials produced in 2017. For example, in 2012 this figure was 50%. And the volume of oil and gas extracted was equal to the volume of newly discovered deposits more than 10 years ago - in 2006.


Rystad Energy also informed, that the average volume of reserves in the offshore fields discovered in 2017 was about 100 million barrels of oil per month, in 2012 this figure was at the level of 150 million barrels.


The report also says about the low profitability of potential production in the fields discovered during the current year. Rystad Energy forecasts that over 1 billion barrels discovered this year will never be extracted from the earth.


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