Oil and gas exploration in 2016 fell to nine-year lows, in terms of both wells drilled and discoveries made. That’s according to a new report from Westwood Global Energy Group, which also suggests a brighter outlook for the industry can be expected in the coming years as improved exploration efficiencies start to deliver results. It says last year’s […]

Global oil discoveries fell to a record low of 2.4 billion barrels in 2016. This contrasts with an annual average of around nine billion barrels over the last 15 years. That’s according to a new report from the International Energy Agency (IEA), which suggests the trend is likely to continue for the third year in […]