Petroleum; “the liquid gold” of the world is just as it goes as the name defines. It is the commodity on which countries have their relations defined. Countries like Russia, Saudi Arabia, United States, and Iraq are top oil producers over the globe. Though the scenario changed during June and August 2018 where the US became the leading producer. It has increased its shale oil production to reach 10 million bpd in 2018 after the 1970s. It is also predicted to maintain its production at the summit during the year 2019 according to EIA.
US is also predicted to make up for half of the worldwide expansion in the next five years, though the rate of increase would be slow, by International Energy Agency (IEA). The main reasons behind this upheaval in the production of oil by the US are declining control of Saudi Arab countries, the US is outside of OPEC ( Organization) of Petroleum Exporting Countries) and a decrease in drilling costs.
Why should think much about this commodity?
Roberto Casula, who is currently the senior executive at Eni S.p.A, which is a multinational company having its headquarters at Rome, Italy. It has the title of holding one of the greatest multinational companies over the world. It has 79 operational countries. According to August 2013 survey is the 11th largest industrial company with a capital of sixty-eight billion Euros.
Roberto Casula Eni is a graduate in Mining Engineering at the University of Cagliari. He entered Eni in July 1988 as a reservoir engineer. Then with his professional and technical skills by working as Chief Development, Operations and Technology Officer of Eni Spa, he leads a total of twelve-thousand employees under him both at headquarters and over the world.
How he instructs the juniors?
Roberto asks the small scale companies to be more practical and doing certain things like the planning of every day’s schedule and cutting off extra expenses as this would ensure the growth of the company.