Oil and gas are integral to today’s agricultural, transportation and manufacturing systems. They exist in the majority of the products we all use every day. And, to fuel that demand, every day, oil and gas companies produce 86 million barrels of oil worldwide. With the rapid industrialization of countries such as China and India, global demand for petroleum is projected to increase by 14% to 100 million barrels by 2035. Barring the invention of a revolutionizing alternative fuel and rapid change toward more sustainable manufacturing, the oil and gas industry will continue to produce oil at full capacity to meet this increasing demand.
Over 60% of the world’s proven oil reserves are located in emerging economies, countries that lack national standards for responsible production or the incentives to enforce them. This reality reaffirms the need for a global certification system.
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