Category: Oil and Gas Industry
US Oil and Gas Industry
As per latest information on US oil and gas industry, Total, which is a major oil and gas company of France, has announced on 14th January 2009 in a company statement that it would purchase 50 percent in American Shale Oil. American Shale Oil is a sister concern of IDT, which is a diversified telecommunications services provider based in New Jersey.
Oil Fields
Oil fields are regions with abundant underground oil reservoirs. Oil wells are drilled in these fields to extract crude oil and petroleum by-products. The largest oil fields in the world are found in the Middle East, in Saudi Arabia, Iraq, Iran, Kuwait and the UAE. Other oil rich countries include the Russia and other former Soviet Union states, Nigeria, the US and Venezuela.
The US, China, Japan, Russia and Germany are the major oil consumers.
UK Oil and Gas Industry
As of January 2009 new technologies are being implemented in UK oil and gas industry. These methods are being used in order to bring down expenses involved in discovering and producing oil and gas resources in UK. These new developments in oil and gas industry in UK are also being brought about in order to increase productivity and longevity of fields.
Experts from UK oil and gas industry have predicted a bright future in years to come. They believe that in coming 25 years it would be able to make 240 new developments and 130 new discoveries.
Oil and Gas Industry
The Oil Industry started off more than five thousand years back. Oil sipping up from the ground were used to make the boats waterproof in the Middle East and also used as medicating as well as for painting different things.
The demand for Oil was much higher than what it actually produced and this brought forward the concept of making oil production companies which is collectively known as the Oil Industry.
