Top Oil & Gas Companies

Changing conditions and volatile markets have made it difficult to follow trends among oil and gas companies. Advancements in renewable energy sources, much of the world remains dependent on petroleum for their everyday needs. This compilation of the top oil and gas companies reflects the stable and growing economy that is petroleum.

Chevron

One of the oldest American petroleum companies, Chevron was founded in 1879 in a then remote area of California. Today, Chevron Corporation operates in nearly 200 countries and boasts a market value of about $227 billion and a current share price of more than $120.

Exxon Mobile

The $295 billion market value, it would appear that Exxon’s spotty history has been all but forgotten by the public. The popular brands merged in 1999 and quickly began rising to the top. The current stock price of around $70 confirms that a healthy recovery is likely underway.

China National Petroleum Company

Since 1988, the CNPC has been making headlines from its Beijing headquarters. Not only is this conglomerate one of the largest oil and gas companies in the nation, it is one of the biggest corporations in the world. Fortune Global 500 ranked them among the largest companies by revenue in 2017 and 2018.

Abu Dhabi National Oil Company

Founded in 1971, this state-owned petroleum company has steadily increased in revenue and global exposure. The United Arab Emirates company claims access to the 7th largest oil reserve in the world. The average daily production is around three million barrels per day. Excellent management and efficient processes account for the rapid success of this international company.

ConocoPhillips

Arising as a result of a merger between Conoco Inc and Phillips Petroleum Company, this Houston, Texas-based company has proven that it has the endurance for long term success. With an annual revenue of around $40 billion and a stable stock share price hovering $65, ConocoPhillips does not fall among the largest oil and gas companies. However, this little giant offers local and international perks like community involvement and environmental awareness.

Companies that specialize in the production or transportation of oil and gas face uncertainty. Investors are cautioned to remember that energy companies can move from the top of the list without warning.

.

.

This article was originally published on blakezimmermanhouston.net 

The Impact of the Oil & Natural Gas Industry on the Economy

Oil and natural gas are two of the most commonly used raw materials available. When it comes to numbers and dollar values, the industry is considered to be one of the largest sectors of the economy worldwide. Every day billions of dollars are generated through the oil and gas business, and petroleum-based products are in high demand.  

Supports Employment 

The oil and natural gas industry is a great supporter of employment opportunities. Job growth and availability is a key component of success within the economy, and as the industry continues to thrive, it opens up various employment opportunities. Consider the operation of the oil and gas industry overall; the process of producing involves many different moving parts. For example, labor-intensive jobs alone, like drilling crews, mechanics, and operators are all essential in the process. In general, the oil and gas industry is responsible for supporting roughly 10 million jobs.

Production Costs 

Production and manufacturing costs are heavily influenced by the price of oil and natural gas. An increase or decrease in pricing can significantly impact the domestic economy. Low oil prices generally mean lower costs for transportation. Additionally, lower oil prices can lead to a significant decrease in manufacturing costs as well. An increase in price tends to add to the cost of conducting regular business. “Conversely, high oil prices add to the costs of doing business. Whether it is higher cab fares, more expensive airline tickets, the cost of apples shipped from California, or new furniture shipped from China, high oil prices can result in higher prices for seemingly unrelated products and services.”

.

.

This article was originally published on blakezimmermanhouston.com

Predicting the Future of The Oil and Gas Industry

Predicting the Future of The Oil and Gas Industry _ Blake Zimmerman

As oil prices have begun to recover from the 2014 oil price crash, the future of the oil and gas industry has been a hotly debated topic in American media. On one hand, renewable energy and green energy continue to gain a foothold in the collective consciousness of Americans. On the other hand, oil and gas continue to be the cheapest, most efficient fuel available to mankind. Based on the contrast between the rise of green energy and the the cheap availability of crude oil in the United States, here are our predictions for the future of the oil and gas industry.

Experts Predict a Thriving Oil and Gas Industry in America

According to oil and gas experts, the oil and gas market is not as affected by the pricing volatility that affects so many other American industries. One reason for this is that there seems to be a growing demand for gas and oil on a worldwide basis.

Although green energy is being pushed in places like Europe, Canada, and the United States, there are so many places in the developing world that still have an absolutely rabid demand for oil.

For example, in India, there are currently only 4 cars per 100 people. As India’s economy continues to stabilize and grow, more people will purchase automobiles, which will increase the country’s need for gasoline.

There are many countries like India around the world, countries where individuals are starting to mobilize and want things like homes, cars, and electronics. American oil companies will undoubtedly export oil to countries like India in the coming years, which will allow the country’s oil industry to remain strong.

Untapped Oil Reserves Still Exist in America

According to CNN, the United States now has more untapped oil than any other country in the world. This might come as a surprise to some readers, who think of the Middle East as the hub of the global oil and gas industry. But America’s reliance on importing oil from other nations like Saudi Arabia has allowed the country’s oil reserves to build up over the past few decades.

But as of 2016, an independent energy firm predicted that America has a store of 264 billion barrels of oil—approximately half of this oil exists as shale oil. So, with that said, the future of gas and oil is full of possibilities. As the world continue to expand, a need for oil and gas will increase accordingly. Finding untapped or undiscovered stores of oil and gas will be key as we progress into the next decade.

Originally posted on BlakeZimmermanHouston.com.

How Technology is Changing the Natural Gas and Oil Industry

As technology continues to advance and develop, industries are learning to adapt and prosper. The oil and gas industry has used technology to change business and operations. As new devices and innovations continue to develop, the industry becomes more efficient and productive. Check out the latest tech trends in the oil and gas industry:

Intelligent Hydrate Platform

One product shaping the industry is a device that manages gas hydrates with real-time intelligence. The device can enable the digital transformation of the oilfield. Because gas hydrates are so imperative to the safety and environment of hydrocarbons in deep and cold offshore locations, it’s important to have such a device to manage it efficiently and effectively. This device is also very cost-effective.

Lift-Scan

It’s important on any oil and gas site to have productive on and offloading. A gaming-changing device set to revolutionize the industry is the lift-scan. The lift-scan is a crane with a crane block camera with the ability to perform deck scanning for more efficient loading. The product will also allow for hands-free communication for the first time and real-time visibility of the operator. Productivity will increase through the use of this device and offer better safety features for offshore sectors.

Polyurethane Foam Flex (PUFF)

When disaster strikes on gas and oil rigs, it can be deadly serious for workers and the environment. If there were to be an oil spill of any kind, PUFF is the most practical, quick, and effective method for adsorbing hydrocarbons. It has the ability to absorb up to about 30 times its weight different kinds of hydrocarbons, such as 10w40 oil, light, and heavy fuel oils. In about two minutes, the material saturates, can be wrung out, and recovers pure hydrocarbons without water. PUFF can also be reused over 100 times, allowing the recovery of about three tonnes of oils. Best of all, it is not harmful to marine or human health.

Humans and Machines

As technology continues to advance in the oil and gas industry, devices and humans are becoming co-workers. Technology isn’t being developed to replace workers, but instead, help to enhance their abilities to perform. In a more digital workplace, oil and gas companies are transforming into greater productive and fast-moving organizations. Technology will improve and revolutionize the industry.

What Exactly Are Microgrids?

A microgrid is an energy module within a larger power source and can be disconnected from the main grid as needed. Microgrids are being used in various settings to create redundancy, to expand services in underserved locations and to model potential hazards of planned operations.

Key Features of Microgrids

Microgrids share a number characteristics, regardless of their exact configuration.

Energy Storage

Microgrids are hardware independent and their exact configuration can vary based on factors such as location and available resources. The most common type of energy stored is electricity but microgrids can be used to store thermal or mechanical energy if needed.

Electronic Configuration

Microgrids frequently feature assets like solar power or microturbines. The use of variable power sources requires interfaces that can harness and convert energy types.

Most distributed energy sources lose power when they are converted to another type of energy. Microgrids are configured with interfaces that minimize power loss, thus helping to conserve energy and to minimize the cost of providing electricity.

Efficiency Requirements

To achieve maximum efficiency, a microgrid must meet the following functional specifications.

  • Each microgrid must be able to function as a unified entity to properly interface with the main power grid.
  • Each grid must remain within its own power requirements and cannot borrow power from the main grid or from adjoining microgrids.
  • The microgrid must be able to regulate its own voltage and frequency internally.
  • Each unit must be able to deploy resources as needed to maintain energy output requirements.
  • A microgrid must be able to safely connect and reconnect with the main power grid during synchronization operations.

Implementation of Microgrids

Microgrids are often used in water treatment plants, transportation units and health care facilities. Their ability to create redundancy and failover make microgrids an indispensable part of technologies that are employed in mission-critical and time-sensitive operations.

Microgrids provide fault tolerance, bring energy to diverse geographic locations and offer a means to create alternative power sources. These features make microgrids an important solution that offers an opportunity to underserved locations and that promises to promote sustainability for our planet.

The Use of Oil in Big Industry

Crude oil use by the U.S. industrial manufacturers has been consistent since the economic crisis of 2008; though, the usage level is wholly lower than before the economic crisis. In place of crude oil, natural gas increasingly constitutes a greater proportion of total fuel consumption by the U.S. Industrial sector, specifically manufacturing. While natural gas constitutes an increasing proportion of total fuel consumption, crude oil (HGL) represents the largest share of energy sources used as components of manufacturing at almost 50%. Crude oil in particular is commonly used to make plastics and other chemicals. Petroleum products (counted as “other”) account for a third of energy source use as manufacturing components — raw materials in a manufacturing process. Total crude oil and related products constitute a large majority of the quarter of total energy sources first used as a manufacturing component. Regardless of use as manufacturing components or as energy, the largest consumer of energy sources are the chemical, refining, and mining industries. These three industries account for more than half of the total energy consumption by industrial manufacturers. This means there is some competition between using energy sources for energy or for manufacturing processes.

Energy consumption in the manufacturing industry was estimated in 2016 to be about 75% by the USEIA. Natural gas has markedly seen increasing use. Consumption has steadily increased from 2010 to 2014. This reveals increases in natural gas usage as potentially negatively affecting crude oil usage growth trends over the same time period.

Energy generation on-site is a common practice by manufacturers as an alternative to purchasing energy. One prominent method of producing energy on-site is combined heat and power loops. Natural gas and coal constitute a substantial portion of on-site consumed energy at 96%, and renewables constitute 1%. Crude oil does not constitute substantial use for on-site energy generation by manufacturers. This means that crude oil is used for energy production off-site, and energy produced from the crude oil is then distributed to manufacturers in the industrial sector.

Overall, crude oil use by the U.S. Industrial sector has remained steady in the last few decades besides significant decreases in consumption during the 2008 economic crisis. The potential growth of crude oil appears to be stunted by the increasing use of natural gas.

The Oil Drilling Process

The Oil Drilling Process _ Blake Zimmerman
Oil drilling has become quite the hot topic in recent years. Many people have opinions on the process and use of the natural resource, but few understand how the process actually works.

Crude oil and natural gas are created when plankton die, fall to the sea floor, are trapped in sediment, and then undergo immense pressure and heat through millennia of accumulating debris. The oil and gas become trapped in porous rock (known as reservoir rock) surrounded by impervious rock (known as cap rock).

Geologists look for signs of these conditions in order to discover new reservoirs. They may look at satellite images and collect surface samples to start. When oil flows it creates slight disruptions in the Earth’s gravitational and magnetic fields, which sensitive magnetometers and gravity meters can pick up on. Petroleum also produces a distinct smell, which electronic noses can pick up on if they’re sensitive enough. Lastly seismologists create vibrations in the earth to locate potential sites.

Once a site is located, the oil company gets any permissions required, checks the environmental impact, clears the surrounding arlliea according to regulation guidelines, and gets started. A blowout preventer is used to close off the hole in an emergency.

Drilling is done in stages, with each stage using a progressively smaller drill. The first stage of drilling is usually done before the rig is set up, using a truck equipped for the purpose. As they drill, drill mud is pumped into the hole to expel the cut bits of rock from the hole, allowing the drill to continue unimpeded. The mud also serves to cool the drill and to keep the hole from caving in on itself. As the drill goes deeper, new segments of pipe are added back at the rig. When the desired depth is reached, the drill then pulls out and is replaced by casing. Cement is then pumped down the hole, expelling the mud and holding the casing in place.

Once the reservoir is reached and the well is deep enough, a perforating gun pokes holes in the casing and a tube is snaked through. A packer is used to seal the outside of the tubing and a Christmas tree (another device) is placed on top to control the well’s output. Special fluid containing acid or proppants is then used to dissolve the reservoir rock, allowing the trapped petroleum to flow. And with that, the job is done.

This article was originally posted on BlakeZimmermanHouston.com on June 12, 2019.