Even though we have become a world of green economy, oil is still a valuable commodity that creates fortunes. China recently surpassed the United States in oil imports, and it seems that the situation will not change in the coming years.
Global players in the oil and gas industry understand one major thing: governments’ political statements and public posturing can directly impact their bottom line. From shipping lanes to supply and demand, every aspect of the market relies on the relationships and trade agreements countries and allies fostered after the 2nd World War. As new …
The Impact of Global Politics on the Oil and Gas Industry Read More »
The current situation between Russia and Ukraine will increase demand for oil rig production from North and South America. Reuters reports that the U.S. is expected to increase its crude oil output to 720,000 barrels per day or 11.91 million barrels per day. A Texas Tribune report states that Texas will be responsible for almost half of with 5.3 …
In the oil well industry, perforating guns are a standard tool used in connecting pipelines. Perforating guns are used in many industries but are commonly found in the oil and gas well industries. There are different types of perforating guns, depending on how they will be used. A perforating gun is used to create openings …
Sucker rods are the primary parts of oil and gas production. These 25- to 30-foot-high grade steel rods use an up and down motion as part of a sucker rod pumping system. The rod is threaded at both ends, allowing a tight connection. This connection joins the above-ground and down-hole components of a well together. …
The number of rigs around the world varies. The operation of oil rigs depends on the economic activity in a specific region or across the globe. The amount of oil in storage also matters because it signals whether the oil demand is rising or falling. MSI Pipe Protection Technologies reports on oil rig location maps …
A Complete Overview of MSI’s Rigs Around the World Read More »
The implications of COVID-19 will be far-reaching and we won’t know for some time just how deeply all industries have been impacted by the global health crisis. While many consumers don’t know much about the oil and gas industry beyond what they pay at the pump, those who are watching a may be shocked to …
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