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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