Saudi Arabia Acquires More Tankers
Saudi Arabia's National Shipping Co., formally known as Bahri, has booked 8 additional supertankers to ship oil from the kingdom's main oil ports this month and the next in anticipation of a sharp increase in production. While preliminary bookings such as this...
2019’s Top Oil Producers
Oil is one of the most important economic and strategic resources in the world. The extraction of oil plays a major role in many national economies, although some nations do produce much more than others. In fact, the world's five biggest oil producers account for...
Crude Oil Trading
Of the many financial assets you can own, crude oil is one of the few that provide an opportunity to profit in nearly any economic condition. The commodity is deeply ingrained within the global economic and political markets. Furthermore, volatility within the energy...
Sectors of the Oil and Gas Industry
It takes a lot of planning and processing to bring crude oil or natural gas to the marketplace. Oil, in general, is composed of the remains of dead organisms, such as plants and plankton, deep underneath sedimentary layers of soil. It's how these organisms are...
Virtual Reality and the Oil and Gas Industry
Virtual Reality (VR) and Augmented Reality (AR) are delivering significant boosts to almost every industry. Like many parts of the digital tech world, there are everyday uses and niche applications--some requiring more investment and research than others. VR...
How the Coronavirus Impacts the Oil Industry
There are several kinds of coronavirus found around the world. Some are mild diseases that cause little concern. The coronavirus now ravaging regions of China is a new strain. Its unofficial name is the Wuhan coronavirus. Wuhan is the extensive urban region in China...
Four-Year High For Oil and Gas Discoveries in 2019
2019 was a banner year for oil and gas discoveries, which topped a four-year high. According to data released by Rystad Energy, oil and gas companies discovered nearly 12.2 billion barrels of new oil in 2019. The data showed companies found 1.8 billion barrels of new...
Flared and Vented Natural Gas
Last year was a record year for the U.S. drilling industry. In 2019, the country’s drilling industry flared or vented more natural gas for a third year in a row. Most of the flaring and venting took place at production sites in North Dakota, New Mexico, and Texas. ...
How Artificial Intelligence is Used to Optimize Oil and Gas Production
While the oil and gas industry is unique in many ways, any businesses can benefit from the same core features of AI. If it can be measured, it can be documented. If it can be documented, it can be added to a database. And, of course, if it can be added to a database,...
Oil Freight Record from US Gulf Coast
New international oil shipping regulations and rising demand for crude in Europe and the Mediterranean drove oil freight rates up to record levels in late 2019, according to Reuters. US Gulf Coast Aframax crude tankers, which are medium-sized delivery ships, have been...