How Did Hurricane Laura Impact The Oil Industry?

As if this year wasn’t enough on its own, Texas and Louisiana’s coastlines received a surge of stormy winds as it grew into one of the worst recorded hurricanes in American history. The Gulf of Mexico had to be evacuated as oil and gas companies rushed to leave the offshore platforms and rigs. Refineries that …

How Do Oil Rigs Work

The oil industry makes about 2-3% of the global economy, which amounts to much larger figures when assessing the country-wise statistics. In 2019, the revenues from oil and gas drilling sectors were estimated at $3.3 trillion. There’s a need for more than one or a few oil drilling methods due to this industry’s magnitude.