The Petroleum and Gas Industry is now experiencing its best performance in more than 20 years with record profits and liquidity. Worldwide demand for oil and gas is strong and the prices are at its historic highs. The price and demand situation is not expected to decline in the near future considering the growing demand among emerging markets like China and India both of which ranks among the highest growths in consumption.
Non-traditional fuels has now becomes economically competitive because of the increases in the price of oil and gas. Industry investments in LNG, oil shale, ethanol and other alternative fuel source are now growing. Energy companies are now eying diversifying their portfolio by investing in these non-traditional fuels. These companies now also have to deal with more stringent environmental regulations and governance issues.