World Oil and Gas Exploration Sluggish, Investors Anxious Over Electric Vehicle

July 30, 2024, 03.25 PM
Reporter: Arfyana Citra RahayuEditor: Syamsul Azhar

NEW YORK - GREEN ENERGY. The estimated total of global recoverable oil resources has decreased by 700 billion barrels since 2019 due to a decline in oil and gas exploration. This is triggered by oil investors' concerns about the development of vehicle electrification.

Recoverable oil refers to the portion of total resources that can be commercially extracted using technically feasible recovery projects.

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