Fracking making waves again
The controversial drilling technology, that boosted US oil and gas production and transformed global energy markets in the process, is making waves again
Chief executives from two of the world’s largest oil companies slammed European laws restricting hydraulic fracking as the global gas industry gathered in Paris for the World Gas Conference. Rex Tillerson, chief executive of US supermajor ExxonMobil, and Eldar Saetre, chief executive of Norwegian state-backed energy company Statoil, both called on EU policy makers to allow the drilling process, where a mixture of water, sand and chemicals is pumped down wells at high pressure to break underground rock so that oil and gas can flow to the surface. Fracking has existed since the late 1940s, but technological advancements in recent years, such as horizontal and directional drilling have sparked

Also in this section
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
22 July 2025
Next year’s WPC Energy Congress taking place in April in Riyadh, Saudi Arabia will continue to promote the role of women in the energy sector, with a number of events focusing on the issue.
22 July 2025
Pedro Miras is the serving President of WPC Energy for the current cycle which will culminate with the 25th WPC Energy Congress in Riyadh, Saudi Arabia in April 2026. He has over 30 years of experience in the energy sector, including stints with Repsol and the IEA. Here he talks to Petroleum Economist about the challenges and opportunities the global energy sector currently faces.
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends