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The history of the oil and gas industry from 347 AD to today

Today, oil and gas is an international, multi-million dollar industry, but where, when and how did the industry begin? Offshore Technology explores the history of oil and gas, from the first discoveries to present-day businesses.

History of oil and gas: First discoveries
Oil and gas had already been used in some capacity, such as in lamps or as a material for construction, for thousands of years before the modern era, with the earliest known oil wells being drilled in China in 347 AD.

Reabold Resources (LON:RBD) invests in operating companies whose main value driver is the oil & gas asset of interest. Reabold can thereby run a low-cost, non-operator business model where the monetisation versus the entry price of the oil & gas projects it invests in will be the key determinant of value. Monetisation of investments depends on the extent of any success and market conditions. These include an asset sale, IPO or putting the asset into production.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.