Day: January 2, 2021

Oilfield Service Giants Are Expanding Beyond Oil Tech

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The oilfield services sector is usually the one to suffer the most during an oil and gas industry downturn. This last crisis has been no exception in most respects. Drilling fell sharply this year in response to the demand slump in both oil and gas, budgets were cut and exploration plans shrunk. There was talk we might have already seen peak oil demand. The situation begged the question what happens to oilfield services beyond oil? To be fair, the world will need tens of millions of barrels of oil for…

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How Gold, Silver And Platinum Are Used In The Battle Against COVID-19

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Figure 1. Covid-19 serology tests (antibody tests) Beyond silver’s diagnostic and therapeutic uses in the fight against covid-19, there are also trace amounts of silver in the fabric of some masks. While not anti-viral, silver does protect against other bacteria and eliminates odors, which helps when wearing the masks for extended periods of time. Silver has been used for thousands of years to prevent microbial infections and was the most important antimicrobial agent in use before the introduction of antibiotics. The fight against covid-19 highlights a trend: growing demand for…

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Pakistan’s brighter future depends upon renewable energy generation projects

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There are two types of energy: renewable and non-renewable. Non-renewable energy includes the resources from coal, gas and oil. They are made by burning fossil fuels to create energy. Renewable energy, often referred to as clean energy, comes from natural resources or processes that are constantly replenished. The renewable energy sources are solar energy, wind energy, hydropower, geothermal energy, and biomass energy. Renewable energy sources make upto 26% of the world’s electricity today, but according to the International Electricity Agency, IEA its share is expected to reach more than 30%…

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Egypt Signs $1 Bn Oil, Gas Exploration Deals

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CAIRO, (UrduPoint / Pakistan Point News / WAM – 02nd Jan, 2021) Egypt’s Minister of Petroleum on Friday said nine $1 bn new oil & gas exploration agreements were signed with local and international companies. The exploration will cover regions in the east and west of the Mediterranean Sea and regional waters of the Red Sea with six large companies for drilling 17 wells, Tarek al-Molla said in a statement. “Egypt seeks luring new international investments in gas and oil exploration, and concluding deals with big companies as a priority,”…

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Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus

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Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. On Thursday, the last trading day of 2020, Brent was trading down 25 cents, or 0.5%, at $51.38 a barrel, as of 0246 GMT and US West Texas Intermediate (WTI) lost 0.2%, or 11 cents, to $48.29 a barrel. “It is kind of year-end quiet but a weaker dollar is helping keep a…

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