Professional Documents
Culture Documents
Arash Farnoosh
What is energy?
The different uses of energy
Energy is everywhere in our lives and in every sector we have energy needs: in our homes, our means of
transport, our professional activities, our food and leisure.
To cover these needs we use heat, which represents 55% of the final energy consumption, gasoline, diesel
and jet fuels used in the transport sector account for 30% and electricity for 15%.
Do we have enough oil to cover our needs and for how long ?
This is a key question, not easy to answer. If we divide the reserves discovered by the current level of
production we have today 50 years of consumption ahead of us.
But oil reserves are, above all, a function of the price. As the price of oil rises, more reserves become
economically recoverable. Oil from the Middle-East and North Africa can be produced at the lowest cost. The
The players
Producing companies by categories
The oil industry is like a stage where there is interaction between various types of players: State-owned
National Oil Companies that own more than 2/3rds of the world reserves, Super majors (the 6 biggest
private actors in the oil industry) and other private oil companies, either midsize, independent or junior