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Oil industry history

The oil industry began thousands of years ago when people used oil from oil lakes in the middle east. The modern industry started in the 19th century.

For more on the history of oil see our dedicated site Oil industry History.com/

The Forties field was the first in the UK sector of the North Sea. Wild open water offshore sea rigs were still a relatively new thing then and often companies were learning new techniques as they went along. Since then over 30 billion barrels of oil have been taken from Scottish waters and the industry there is still going from strength to strength. Through the 70s and 80s it was predicted that the oil fields in the UK North Sea would be used up by 1995. However, that may prove to be 100 years out. There may have been political reasons for that initial estimation.

Oil greatly shapes and to some extent influences political policies of the countries that produce it. Otherwise insignificant countries have risen greatly in power when they discovered oil under their land or below their waters.

In the UK, the oil industry saved the whole country from bankruptcy. Today it enjoys prosperity and a very strong economy, mainly thanks to the oil under the North Sea.

All you need to know about the history of oil see our dedicated site Oil industry History.com/

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