Most news focused on the oil and gas industry or petrol industry these days are taking their toll on the global economy. Not only that, these developments and/or issues are impacting so many countries at once and millions of people all over.
We are not just in the business of helping oil and gas companies’ better position and grow their services. We are also keen on making sure people, not the only ones engaged in this industry, are informed about the latest news in oil and gas.
Oil and Gas Rigs to the battle global climate crisis
For most news, oil and gas impact our climate negatively. Oil and gas are known to pollute both air and water affecting not only nature but people as well. There is more than 90,000 oil and gas substances on public lands.
These natural components are not only destroying nature but are also intensifying the occurrence of asthma and asthma attacks in children.
But, according to a new study by the University in Scotland, oil and gas rigs from the North Sea could be modified to generate a large volume of carbon dioxide emissions or CO2 emissions into rocks underneath the seabed.
Instead of decommissioning these rigs resulting in millions of dollars in expenses, the researchers came up with a climate crisis solution.
The idea is to refit old rig platforms to serve as pumping apparatus or stations for self-contained CO2 storage sites. These stations can then store emissions coming from natural gas production, which will then be used to contain CO2.
The research got a lot of positive feedback with the data gathered and testing involved. Doing this instead of decommissioning these rigs is 10 times cheaper. Imagine that amount of money because the decommissioning process will cost more than $316 million.
What do you think of that? The researchers and many people agreeing with this development are waiting for it to be applied and practiced.
A dispute over massive sea resources
One of the biggest issues involving the oil and gas industry is the years-long dispute between several countries over control over a portion of seawater in the western Pacific Ocean.
The biggest parties involved in this issue are the Philippines and China. The Philippines is alarmed with China’s strong presence along the area utilizing military vessels and resources. The massive sea area has been fishing grounds of the Filipinos for many years until the issue came about.
The seawater is said to shelter abundant oil and gas resources. With China’s strong economic and maritime prowess, they were able to establish deepwater rigs along with the contested seawater.
This does not bode well with the Philippines and in fact, other nearby countries like Vietnam.
These two topics right now are making waves all over the globe. Stay updated with more news right here at Petrox Resources. If you are interested in our services, contact us today.
