Despite of the fact that over the past 20 years, from 2001 to 2020, the share of oil in the global energy balance has decreased by 7,6 % and became 30,1 % in 2020, oil is still the main energy resource in the global energy sector. More than 95 % of oil is currently used for the production of fuels and lubricants, as well as for a wide range of oil refining and petrochemical products, and only slightly more than 5 % is used in the centralized power generation system. Nevertheless, a number of experts predict an imminent significant decrease in oil share in the world energy balance, basing their judgments on limited oil reserves and the expected imminent transfer of all modes of transport to other sources of energy (electricity, natural gas, hydrogen, etc.).
The carried out by the authors analysis of data on geological resources and reserves of traditional, transitional and unconventional types of oils allows to say that when using existing and promising technologies for field development oil production can last more than 120 years. Moreover, modern scientific ideas about the genesis of hydrocarbons allow to speak about the huge, practically inexhaustible reserves of hydrocarbons presence in the bowels of the Earth, the availability of which will depend on the innovative technical and technological solutions development for their search and development, as well as on the investment attractiveness of their production in industrial scale. Expectations of the energy transition may be delayed due to obvious scientific and technical problems associated with the search for new types of global energy, therefore, hydrocarbons and in particular oil may be in demand for a very long time.
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