Not only is Russia not intending to slow down its oil production, but its oil production is actively increasing. In the past few years, oil prices have gone down significantly as a consequence of the flooded market. Though OPEC countries have been the primary source of these issues, non-OPEC countries have also significantly ramped up … Continued
The oil industry has always been focused on innovation through technology. By adopting new technologies, oil and gas companies are able to significantly lower their production costs. This improves upon profit margins while still enabling crude oil and natural gas to remain cost-effective for the domestic economy. A Shift in the Global Energy Market Just … Continued
Though oil prices have fallen, it’s believed that United States oil production will continue to grow and expand. Not only do the country’s energy needs require increased production, but prices have begun to rebound and are expected to recover through 2017. In the United States, oil production has been increasing despite shifts within the global … Continued
Production has recently begun in the Kashagan field, located within Kazakhstan in the Caspian Sea. Currently producing 90,000 barrels per day, the Kashagan field will be exporting crude oil and natural gas out of the country. The field is currently being managed in joint effort between a multitude of energy companies, including both Exxon and … Continued
GE has announced that it will be opening a research and development center in Oklahoma. This is good news for the state and the oil and gas industry as a whole: not only will the development create new jobs, but it will also be focused on advancing technology throughout the industry. New Oil and Gas … Continued
Rice Energy will be acquiring Vantage Energy in an approximately 2.7 billion dollar deal aimed at consolidating the two oil and gas companies. This new purchase comes on the heels of multiple energy acquisitions throughout the month of September. With oil and gas prices rebounding, companies are now seeking to expand and investors are looking for new … Continued
Baker Hughes Inc recently reported that the oil rig count in the United States has gone up to 511. The oil rig count has been steadily increasing throughout the year, which indicates optimistic outlooks for the oil and gas industry. Oil and gas prices have also continued to rise throughout the year, which has strengthened … Continued
North sea oil production is currently on the rise, and this could have some tremendous benefits not only for the global oil market but also the domestic economy. From 2015 to 2016, the oil production in Scotland has risen by 21.4%. As with many countries in the oil industry, Scotland has had to dramatically increase … Continued
A new West Texas field discovered by Apache Corp may be able to yield over two billion barrels of oil. The exciting new field has now been dubbed “Alpine High,” and has provoked renewed spending in Apache Corp stocks. Though Apache Corp’s interests in the area were largely driven by large amounts of natural gas, … Continued
Despite all the oil-related headlines in the news, there are still quite a few things that most people aren’t aware of when it comes to oil and the oil industry. Here are the top five things you should know to remain informed. 1. Oil is necessary for our global energy supply. Though there are many … Continued