In January 2024, the Biden Administration announced a pause on permits for new liquefied natural gas (LNG) export projects. In response to this pause, it was announced that the U.S. House of Representatives would be voting on H.R. 7176, the Unlocking Domestic LNG Potential Act (Rep. Pflueger, TX-11), which would repeal the Biden Administration’s ban on new LNG export projects. Following […]
O&G Shows Resilience Despite 16% Decline in Contract Volume
Amidst shifting market dynamics, the oil and gas industry faced a significant quarter-on-quarter (QoQ) decline of 16 percent in disclosed contract volume—from 1,401 in Q3 2023 to 1,172 in Q4 2023. Despite this downturn, a marginal uptick in overall contract value hints at resilience during the challenging times, reveals GlobalData, a data and analytics company. GlobalData’s […]
The One That Didn’t Get Away
The Bass Pro Shops that was slated for construction in Midland now is destined for Odessa instead, and will be half-again as big as the store planned earlier. Bass Pro Shops announced updated plans Feb. 23 for a new destination retail store location, this one fronting Highway 191 between Yukon Road and Mission Boulevard. The […]
Oilfield Chemicals Market to Reach $44.6 Billion by 2030
(BUSINESS WIRE) The global market for oilfield chemicals, estimated at $28.9 billion in 2022, is projected to reach $44.6 billion by 2030, growing at a cumulative annual growth rate (CAGR) of 5.6 percent between now and 2030, according to a new report from ResearchAndMarkets.com. Drilling fluids, one of the segments analyzed in the report, is […]
Weakness in Oil Demand Brings Pullback in Growth Prospects
Oil supply in the United States saw major growth in 2023, with production rising by 850,000 barrels per day. However, oil demand has not kept pace with this increase and looks incredibly weak going in 2024. To remedy this mismatch and set up a more positive outlook for 2025, producers are expected to slow production […]
Lithium Chloride Extracted in Permian Field Test
Element3, the critical material extraction company specializing in oil and gas wastewater, announced Jan. 30 it successfully extracted lithium chloride from oil and gas wastewater at a Double Eagle Energy Holdings IV subsidiary’s produced water recycling facility. Prior to this test, it was widely held that lithium chloride could not be extracted from produced water […]
Predictive Maintenance: Crucial to O&G Success
Maintenance strategies in the oil and gas industry have gradually transformed from their early days in the 19th century. To achieve operational longevity, timely maintenance is necessary to prevent expensive repair works and unplanned production outages. Technologies, such as AI, machine learning, and the internet of things (IoT), add enormous value to predictive maintenance strategies, […]
Replace All Combustion Cars? Obrist Has a Better Idea
“It is unrealistic to believe that the global vehicle population of more than one billion cars with combustion engines can be replaced by electric cars in the foreseeable future,” says Frank Obrist, founder of the Obrist Group, which focuses on sustainable energy concepts, and calls for “more realism and less ideology in energy policy.” He […]
Christian: Biden’s LNG Policies Hurt Americans And Endanger Europeans
Following news that the Biden Administration would effectively pause new liquefied natural gas (LNG) plants, Texas Railroad Commissioner Wayne Christian on Jan. 26 issued the following statement: “Texas natural gas is saving the free world, and President Biden wants to end it. His administration’s pause on new liquified natural gas export (LNG) plants may recklessly endanger European […]
Control Devices Acquires Gilmore
Control Devices LLC, a portfolio company of HBM Holding, announced Jan. 29 it has acquired Gilmore. The acquisition expands Control Devices’ flow control solutions portfolio while widening its reach in the oil and gas market. The acquisition also broadens HBM Holdings’ expertise in the flow control sector. “Gilmore has a history of excellence in the […]
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