Key Market Indicators
Demand for Iraqi crude oil is close to 2 million metric tons for January 2022, down 17.8% from December 2021. This marks a 1.9% decrease year-on-year since January 2012. Meanwhile, Iraqi crude oil production is expected to reach nearly 290 million tonnes of oil equivalent by 2026. This is a 2.4% annual growth rate since 2021 and a 2% increase since 1976. Iraq came in fourth in the rankings in 2021, with the United States in first, Saudi Arabia in second and Iraq in third.
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Mining Drilling Services: Delving Deep into Global Opportunities and Industry Forecasts
The necessity for mining drilling services primarily stems from the global demand for mineral resources. As technologies advance, a higher quantity of minerals like gold, silver, copper, iron, and coal are needed to support industrial activities, and this has led to an upsurge in mining activities worldwide. Moreover, the increasing...
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Digital Oilfield: Navigating Evolution, Growth and Impact in the Energy Sector
As technology evolves across various economic sectors, the energy sector is not exempt. The advent of advanced digital technologies is significantly transforming the way oil and gas companies operate. From data analytics driving operational efficiency to remote monitoring reducing downtime, technology is reshaping the industry's landscape. This transformation, commonly referred...
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Scrutinizing the Future of Enhanced Oil Recovery (EOR): Approaches, Techniques, and Market Opportunities
The present discussion encapsulates a long-established but rapidly evolving field that deploys advanced techniques to extract maximum capacity of petroleum resources. Innovative technologies have shifted the focus from primary and secondary recovery methods towards Enhanced Oil Recovery (EOR). These approaches significantly vary, and predominantly include thermal recovery, chemical flooding, and...
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Decoding the Thriving Global Market: Drilling and Completion Fluids
Several key market trends are underpinning the surging demand for drilling and completion fluids. As the complexity of drilling operations increases, so does the need for fluids that can handle high temperature and pressure conditions. Further, the push towards exploring unconventional resources is contributing to this expansion. Crucially, an improving...
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Drilling Into the Future: Unearthing Opportunities in the Global Air Core Drilling Industry
The advent of improved technologies in the mining and construction sectors has highlighted the significance of air core drilling. This technique offers unprecedented advantages - reduced contamination, swift results, and efficient extraction of mineral samples. Consequently, businesses globally are adopting this system to optimize productivity and enhance profits. The escalating...
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