Stamp of Approval

API certifications are an imperative to provide value added services to the oil and gas industry. The American Petroleum Institute (API) has been at the forefront of creating standards of excellence for the oil and gas industry. The institute is also responsible for creating the certifications that are provided to oil and gas drilling companies in America. The main purpose of these certifications is to ensure the safety of the workers, the reliability of the equipment, and environment protection. One of the most important certifications is the API 5CT. This certification highlights the specifications for the casing and tubing hanger components on wellhead equipment. The certification is extremely expensive to obtain as there are strict rules, and a thorough evaluation process...

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Charting New Territories

Great efforts in oil and gas exploration have led to a rise in the demand for oilfield equipment in USA. The oil and gas industry has seen many ups and downs over the last few years. But one thing that has remained constant is the demand for oilfield equipment in USA. Drilling equipment in particular has always been in demand. Despite a quiet phase in 2011, news of oilfield equipment manufacturers creating equipment for offshore and onshore rigs is coming up. There are many reasons behind this. One is the rising demand for premium rigs that are equipped for underwater drilling of 7,000 feet or more. Another reason is new oil exploration developments in known and unexplored parts of the world. Also, there is a growing demand for hydrocarbons, and high oil prices. Due to this huge demand,...

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Integrated Equipment - Ensuring Safety

Safety is always a major concern for all in the oil and gas industries. New innovations in the industry promise to simplify the whole process. A little more about these innovations are given below. Did you know that the oil and gas industry employs more than 9.2 million people in the US? It also pays approximately $86 tax to the Federal Government daily. This is how big the oil and gas industry is. But these facts cannot shadow the risky nature of the oil drilling industry. The major risk that is involved in the process is that of a total blowout. There have been many incidents wherein the blowout preventers failed to control the blowouts, which lead to grave consequences. The flammable nature of oil did not make the matters any easy. A renowned oil drilling company has come up with...

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You're Hired!

Oilfield equipment manufacturers are looking out for the best in the oil and gas business to add to their payroll. The American Economy may still be in the process of getting out of the recession, but this has not stopped the oil and gas industry from moving ahead. The industry has not been hit as hard as other industries. And now, the energy industry is hoping to increase the pay of employees by 3.6% next year. Companies also have plans to spend 17.8% of their payroll on bonuses. This will be a great opportunity for oilfield drilling equipment manufacturers. The word in the industry right now is 'grow'. Rather than relieving employees from their positions, many companies are actually bringing in more people, who would add to their talent pool. Many employees are changing jobs and moving...

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Creating History

After the celebration of the 153rd anniversary of the first oil well in the world, the oil and gas industry has another reason to celebrate; UAE is set to open its first oil and gas museum and ADIPEC. The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) will feature this exhibition and it will be open for all the days of the exhibition. Visitors will be able to understand the journey of oil drilling industry in UAE from discovery to production; a part of the 1928 to 2000s timeline. The United States of America also boasts of such a museum, it is known as the Drake Well Museum. Located in Pennsylvania, the Drake Well Museum depicts the birth of the oil industry which took place in the 1859 in the US. A replica of the original oil well by Colonel Edward Drake is featured...

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Supporting Developing Economies

India, China, and various other economies are developing rapidly now. Hence, there is an increased demand and consumption of raw materials such as oil and gas. Various oil and gas companies based in USA and the UK are taking advantage of this situation, and are expanding their businesses overseas. Nevertheless, they have to consider the crucial role international vendors and suppliers play in the global supply chain to ensure timely delivery to markets. According to International Energy Agency (IEA), China, whose economy is growing by leaps and bounds, is set to be the world’s third largest importer of gas. Furthermore, it also predicts a rise in the demand for gas in Japan. Businesses in the English speaking world are making sure that they are well placed to take full advantage of...

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Equipped to Succeed

The Texas oil and gas industry has been seeing a boom in the last decade. This is a great opportunity, not only for investors, but also oilfield equipment manufacturers.  The Permian Basin, a large oil and gas producing area in West Texas, USA; was once seen as a dead area, resulting from an oil glut that led to a huge decline in oil prices in 1982. But times change. And situations do improve. Today, after a decade of modest drilling opportunities, the basin is seeing a boom in oil well and gas drilling. This is thanks to the huge demands of oil and new drilling techniques and oilfield equipment coming to the fore. Oil corporations and companies are drilling deeper to uncover oil and gas reserves that were once difficult to reach. There are now more than 155,000 wells producing...

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Supporting Developing Economies

India, China, and various other economies are developing rapidly now. Hence, there is an increased demand and consumption of raw materials such as oil and gas. Various oil and gas companies based in USA and the UK are taking advantage of this situation, and are expanding their businesses overseas. Nevertheless, they have to consider the crucial role international vendors and suppliers play in the global supply chain to ensure timely delivery to markets. According to International Energy Agency (IEA), China, whose economy is growing by leaps and bounds, is set to be the world’s third largest importer of gas. Furthermore, it also predicts a rise in the demand for gas in Japan. Businesses in the English speaking world are making sure that they are well placed to take full advantage of the...

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Oil and Gas Industry-Vital for Growth of an Economy

The oil and gas industry has played a vital role in boosting the American economy. All industries including manufacturing, construction, transportation, and even the service industry depend on it directly or indirectly. Furthermore, the American oil and gas industry has played a major role in the economy's recovery by giving substantial investment, and creating direct and indirect jobs. Also, various oil and gas companies paid heavy duty taxes. Yet, this industry is often targeted, and higher taxes are imposed at various levels. Adding to this are stringent regulatory regimes and other unending barriers for oil and gas production both onshore and offshore. This does not affect the oil and gas companies and they continue to do the needful in extracting oil. There are other companies supporting...

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Be Safe, Be With Us

The Indian Government is contemplating on giving a statutory status to the Oil Industry Safety Directorate (OISD). The function of OISD  is to formulate safety measures for the Oil and Gas Industry. The purpose of the Ministry of Petroleum and Natural Gas to form OISD was to improve safety in the Oil and Gas Industry. It carries safety audits on the Oil and Gas installations, and also forms standard procedures and guidelines for the design, operation and maintenance of the installations. The formation of OISD has benefited the industry to a very large extent. The safety issues are not simple for the industry as they involve lot of research. The procedures, methods in the industry, the handling and installation of equipment, are complex and risky. Hazards not only result in human loss,...

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The Next Big Thing?

Natural gas is becoming the new contender in the energy race as reports of it producing as much power as coal are coming in. Coal may just become an obsolete commodity. For natural gas is turning out to become the future of the energy sector in the USA. In June 2012, for the first time in American history, natural gas generated as much electricity as coal. Natural gas is readily available in the state of Louisiana, which also consists of the country’s largest producing natural gas field. The Intellectual Property Attache Act (IPAA) believes that the state will contribute 49% of the entire country’s natural gas in the next 20 years. There are many advantages to using natural gas. One major point is that it is a cleaner fuel than coal. A study conducted by Cornell University on the usage...

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Arctic Oil Drilling - Boon or Bane?

The latest news that has created waves in the world of oil rig is the possibility of oil drilling in US Arctic. The crowd has been divided in favor of and against US Arctic drilling. A brief synopsis of this event and its effects on oil drilling equipment manufacturers... The need for oil has increased in the recent years. Unfortunately, there are not many oil rigs left. This has lead to the rise of oil prices and consequently of all other commodities everywhere. Also, many countries like the USA have to depend on other countries, and pay a very high price for very little oil. Hence, oil drilling companies are always on a lookout for new sites for drilling. A renowned oil company recently claimed that the Arctic regions that are close to Alaska are ideal for oil drilling. More than...

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Quality guarantees safety

David A. Des Autels makes the otherwise unglamorous world of oil drilling wells and equipments interesting in his novel, “The Alaska Oil Conspiracy”. The book is set in the background of Alaska oil fields, where he has spent most of his working years as a Geo scientist. The story unravels the mystery of the unexpected and unusual happenings at the local oilfields in Alaska. Des Autels rightly points out that the oil and gas industry is one of the highest technology-based industries. The book provides insight into the oil and gas industry. It is an undeniable fact that it is risky to work on oil wells, and the book highlights this...

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