Where most German oil is pumped in the country's north, especially out to sea, the company has bet on inland fields to the south. The last well in the previous wave of extraction in western Hesse state closed in 1994, as oil prices below $20 per barrel and expensive techniques throttled profitability. READ ALSO: Hesse: Seven maps that explain the home of Germany's financial hubA drilling tower from Rhein Petroleum, with which a test drilling for oil is carried out. Vital raw materialHeidelberg-based Rhein Petroleum's success is an outlier amid a German oil sector in a long-term decline however. Rhein Petroleum judges there is money to be made in the transition period, with its sights set on recently-discovered oil reserves in neighbouring Baden-Württemberg state.

Source: The Local November 27, 2019 09:11 UTC