Oil and gas

According to the 2017 World Energy Outlook released by the International Energy Agency (IEA), global primary energy demand will reach 30% by 2040. Despite extensive and multifaceted efforts to develop and commercialize renewable energy sources such as wind and solar, global energy supplies will continue to depend on oil and gas extraction for a long time to come. To ensure the long-term availability of these fossil fuel reserves, the recovery rate of existing oil and gas Wells is continuously improved through deep well drilling and the use of secondary and tertiary oil recovery methods. The development of new deposits has been intensified. As relatively accessible reserves are exhausted and the search for new deposits becomes increasingly difficult, future oil and gas production will require increasingly sophisticated extraction techniques. In the future, nickel alloys and special stainless steels will also help keep the world's fuel and energy supplies flowing.