Crude oil is the lifeblood of economies. Without oil, modern society would practically come to a halt. The United States is now the largest oil producer in the world. It’s responsible for 15% of crude oil production, followed by Russia, Saudi Arabia, Iraq, and Canada. This feat did not happen overnight. The pioneer oil drillers […]
Modern-Day Land Rigs vs. Old-Fashioned Land Rigs Read More »
Technology today is ever-improving. Continued technological improvement has impacted the oil industry greatly, with new improvements making drilling more efficient, effective and safer than ever before. With drilling taking place all around the world, new challenges are being discovered and overcome continually, often with the help of new technology. NOV recently launched the Falcon Reamer,
NOV Launches the Falcon Reamer Read More »
An American presidential election year always brings questions about how the election outcome will impact business. This is especially true for the oil and gas industry, as political interests often affect rules and regulations as well as foreign policy. 2020 has already been a unique year in terms of impacts on the oil and gas
Will the Election Impact the Oil and Gas Industry? Read More »
All eyes have been on the oil industry amid COVID-19 and the pounding the industry has taken as a result of stay at home orders and decreased demand for oil. While rig counts are historically low and thousands who work in the industry are currently furloughed, somehow the oil market has closed out the quarter in good
Oil Market Finishes the Quarter Up Read More »
Those with interests in oil production are feeling a bit of relief for the first time in months. After oil prices bottomed out and went into negative territory in April for the first time in history, many oil companies were fearing imminent bankruptcy. Now, with areas of the country re-opening, there is a slow rebound
Oil Prices Are On the Rise As Social Distancing Requirements Ease Read More »
We are living in unprecedented times and the times have certainly had an impact on oil supply, demand, and production. Airlines have limited flights and are not buying or using jet fuel like they were before COVID-19 changed the way we live. Consumers are not filling up their gas tanks as often as about half
Oil Storage: Are We Running Out of Space to Store Oil? Read More »
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