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Paul Hickin,
Editor-in-chief
Adi Imsirovic
5 September 2024
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The rise of oil’s big three, part 1: The transition to oil

In this first part of the first chapter of our 90th anniversary special on the history of oil, we look at oil’s humble beginnings and the start of its rise to prominence

Oil was once considered a major irritation. During the latter half of the 18th century, the commercial production of salt meant drilling for salt water and encountering the challenge of petroleum and gas. Salt is impermeable and does not dissolve in oil, so it often sets the boundaries of the oil deposits in the ground. It was those salt drillers that helped extract oil from the first commercial oil well. And the importance of the resource gained traction with new products and especially with the discovery of kerosene, a clear liquid produced originally by distilling coal (‘coal-oil’) by Abraham Gesner in 1846. Kerosene would become popular as a cheap, clean fuel for lighting homes when kero

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California refiners dreaming of heyday
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

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