China's construction of a massive offshore oil platform for Saudi Arabia and Chevron's new extraction technology highlight the continued importance of oil despite the push for renewable energy.
China , the world’s biggest maker of solar panels, EVs, and wind turbines, has built the world’s largest offshore oil platform that will be used at the Marjan field in Saudi Arabia . The structure, according to Chinese media, represents a breakthrough in the country’s development of large-scale offshore energy infrastructure. It also signals that there is enough demand for oil to motivate the investment in such a massive structure. Indeed, the parameters of the platform are impressive.
“The Anchor project represents a breakthrough for the energy industry,” a senior Chevron executive said. “Application of this industry-first deepwater technology allows us to unlock previously difficult-to-access resources and will enable similar deepwater high-pressure developments for the industry.
Saudi Arabia Offshore Oil Platform Chevron Oil Production Oil Demand Peak Oil Electric Vehicles Energy Transition
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