2020 Was The Worst Year For Oil & Gas
It’s no secret that 2020 was the worst year in history for the oil & gas industry.
Production crashed down and the mainstream sentiment towards the industry was extremely negative.
But we should remain positive as I believe things will improve in 2021.
Oil Prices Looking Up?
Oil is now over $50 per barrel, this should provide some relief for the operating companies.
Drilling activity in the United States is slowly increasing which should help the service companies.
World oil demand is projected to increase this year.
A Positive Oil & Gas Project From 2020???
There was one bright spot in the grim year of 2020, coming from the small South American country of Guyana.
A few years ago, large discoveries of oil & gas were made offshore Guyana.
These reserves began producing in late 2019 and the tiny nation experienced a 26% economic growth rate in 2020.
The Only Country With Economic Growth Last Year….All Thanks To Oil & Gas
This proves there is still a future for the oil & gas industry. It is still relevant despite what is said about the ‘transition’ to green energy.
With the income from oil and gas, the government has plans for large infrastructure projects that will benefit the citizens.
Let’s work together to promote our great industry, get folks back to work and production up as demand improves.
I am looking forward to a good 2021 ….. and I hope you are too.