Global 2021 Oil and Gas Finds to Hit Rock-Bottom in Decades

[NickB79]

https://finance.yahoo.com/news/global-2021-oil-gas-finds-143402133.html

Although the energy system operated well this year, global oil and gas discoveries in 2021 are expected to hit the lowest level in 75 years if no significant discoveries are unearthed during the next few days. Of what was unearthed this year, energy companies like Exxon Mobil Corporation XOM, Hess Corporation HES and Sinopec SNP were the prominent names.

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As of November-end, total global discovered volumes were 4.7 billion barrels of oil equivalent (boe). With no major finds announced in December, the oil and gas sector is on course for its worst discovery record since 1946. This would indicate a significant decline from the 12.5 billion boe discovered in 2020.

[EarnestPutz]

1. New technology pushed "Hubbert's Peak" a few years down the road, but here we are.