Oil and gas upstream - old problems - new solution

The fossil energy resources today ensure 87% of energy consumed worldwide. This percent will have a slow abatement until 2035 and will be around of 81%. However the oil and gas industry periodically faces crisis which provoke big economic and social problems. The industry big players are used to do business as usual and the old problems still do not have a solution in a new century. The topic is treated by the all most important players on the market, like British Petroleum, Halliburton; Schlumberger or Qatar Petroleum and others. Also there are a lot of materials issued by Ernst and Young; pwc; Oxford Centre for the Analysis of Resources; IDC Energy Insight; McKinsey&Company and others. The research was focused on finding out if the solution proposed by the author could be met in the causes and consequences of the oil crisis of the last 15 years. Also a big attention was paid to the other solutions proposed by different authors for overcoming the present crisis and to prevent the next ones. Ultimately was established that most of the solutions proposed are on the trend line of business as usual and no one underline the advantages of letting information being shared between players of oil and gas market. The present paper is proposing to get an intro into present oil price crisis. To bring a better understanding that to avoid such catastrophic consequences, as we face today, the oil and gas companies need to split the causes and to find solutions for each of them, not just to try to amortize all together through total cost reduction and huge profits during periods of price climbs. The paper brings some hints about a solution for the huge costs in upstream equipment and services, business.