PESTEL ANALYSIS ON PETROLEUM INDUSTRY

In the history of the mankind, the need of resources was the most important factor for political, technological, economic, social evolutions. In modern times need of energy resources become more significant than other industries who were more important during the past like the production of wood, stone, horse breeding, productions of ships, weapons, constructions of buildings and even gold production. The primary energy source is represented by petroleum, commonly known as oil. Petroleum is most used in transport, energy, petrochemical, agriculture and other industries that need oil products in the production of goods. Example: Metallurgy. In this paper it will be present the need of a macro-environmental analysis at the petroleum industry and the external factors that have a powerful influence on this industry.