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
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”






