Video games may have a earned a reputation for encouraging unproductive behaviors, but companies like Siemens and Louisiana Immersive Technology Enterprise are reversing this stigma. Their latest technology uses video game-like virtual simulations to train and instruct oil-field workers. Simulations have been proven to familiarize subjects with their upcoming working environment, as well as reducing … Continued
Many are worried that the recent boom in US oil production could be seeing some slowdown in the next year. OPEC has slashed oil prices by nearly 30 percent, and prices keep falling. These price cuts could potentially reduce the cost feasibility of US oil production. Despite these concerns, analyst firms like Citibank still remain … Continued
Because of tough sanctions placed upon Moscow by the Obama administration and his European allies, exploration in oil-rich areas throughout Russia are at a standstill. Projects that were in the works for years have unravelled, and western companies like Exxon have been forced to abandon projects mid-execution. These consequences are expected to affect Russia greatly … Continued
Flaring is a controlled burn of natural gas that can be trapped with crude oil, caused by petroleum producers. It happens in wells drilled for natural gas, as well as during fracking. Many misconceptions surround flaring. First among them is that the natural gas that is being burnt off is somehow wasted. A second misconception … Continued
There is something to be said about taking your place in the family business; especially when the family business is the oil industry. When you are from Midland, the son of Scott Sheffield and the grandson of Joe Parsley, oil is in your blood. All Paths Lead Back Home Bryan Sheffield did not start out … Continued
What do a home care nurse, a philosophy professor and a jazz drummer have in common? They are leading the fight against fracking in the small Texas town of Denton. Their well-meaning, yet misguided, crusade has called for a referendum vote that is taking place on November 4th Election Day. The referendum will decide whether … Continued
Though the United States has been producing a significant amount of domestic oil (and reducing its reliance on foreign oil imports), the recent Saudi oil price cuts may still have a significant impact on the economy and the oil industry. In recent years, the United States has been able to develop its oil fields … Continued
The fracking boom has moved to China and the implications that this may have for the United States may be fairly serious. In the last few years, the United States oil and gas industry has made great strides, mostly due to better and more efficient fracking technology. As China attempts to jump on the fracking … Continued
Located in Saudi Arabia in Al-Ahsa Governorate, Ghawar is considered to be the world’s largest oil field. Ghawar spans 174 miles by 19 miles. Principally controlled controlled by the government entity Saudi Aramco, its presence within the oil industry is significant and it has an influence on the international level. Over 70 billion barrels … Continued
The crisis in Iraq has naturally thrust oil back in the headlines and it is not hard to see why. Of the twelve OPEC members that we rely on for oil, eight of them are in decline, which means that they are producing less oil than in previous years. According to Market Watch, only Iraq has … Continued