Sunday, January 29, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Companys

Robotics company growing profits outside of oil patch

July 27, 2020
in Companys
Robotics company growing profits outside of oil patch
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Oil Trading Bonanza Saves the Quarter for Shell and Total

Weir Group profit hit by lower oil and gas market

Highwood Oil Company Ltd. Announces Redetermination of Credit Facility And

Dan Allford grew his company by building precision oil and gas field equipment with cutting-edge robots, and like many Texas businesses, he profited when energy prices rose and buckled down when they fell during the industry’s incessant cycles.

This downturn feels different, though, and Allford’s ARC Specialties is moving into other industries that promise a little less volatility, and perhaps, a more prosperous future.

“This has been one of the longest downturns, so that is one indication we need to look to other industries,” Allford, founder and CEO of ARC, told me. “We always have, but to be candid, when the oil patch is doing well, it’s lucrative and fun and challenging.”

ARC Specialties will never abandon its oil and gas clients, Allford insists, but they could play a much smaller role in the company’s future. If current trends hold, it may be the only way his company survives.

COVID-19 is sparking a lot of conversations about the future of oil and gas. The move to work-from-home has crushed gasoline demand, and the longer the pandemic lasts, the less likely people will return to the office.

TOMLINSON’S TAKE: Texas needs pipelines and a phase-out of oil and natural gas

Back in April, at the height of the shutdown, vehicle miles traveled in the United States dropped 64 percent, according to a new report from consulting firm KPMG. And while Americans are getting back in their cars, they may never again drive the 3 trillion miles they did in 2019.

Analysts at KPMG say new habits formed during the pandemic could eliminate 270 billion miles of travel a year, a reduction of 9.2 percent. An increase in the number of delivery vehicles on the road would not make up for the lost demand for oil because many of them will be electric.

“Energy demand and certainly mobility demand will be lower even when this crisis more or less (is) behind us,” Royal Dutch Shell CEO Ben van Beurden said in an interview with IHS Markit, an energy consulting firm. “Will it mean that it will never recover? It’s probably too early to say. But it will have a permanent knock for years.”

With more than 1 billion barrels of oil in storage, and prices below the breakeven point for most companies, drilling activity will remain low for at least the next year, if not longer, especially in North America. Allford is finding new…



Read More: Robotics company growing profits outside of oil patch

Tags: CompanygrowingoilpatchprofitsRobotics

Related Posts

Oil Trading Bonanza Saves the Quarter for Shell and Total
Companys

Oil Trading Bonanza Saves the Quarter for Shell and Total

by Oil Market
July 30, 2020
0

(Bloomberg) -- Royal Dutch Shell Plc and Total SE were saved from what many feared would be the worst...

Read more
Weir Group profit hit by lower oil and gas market
Companys

Weir Group profit hit by lower oil and gas market

by Oil Market
July 29, 2020
0

Weir Group PLC on Wednesday reported a 41% fall in pretax profit for the first half of the year...

Read more
Highwood Oil Company Ltd. Announces Redetermination of Credit Facility And
Companys

Highwood Oil Company Ltd. Announces Redetermination of Credit Facility And

by Oil Market
July 28, 2020
0

/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES./ CALGARY, AB, July 27, 2020 /CNW/ - Highwood Oil...

Read more
Big Oil Braces For Brutal Earnings Season | OilPrice.com
Companys

Big Oil Braces For Brutal Earnings Season | OilPrice.com

by Oil Market
July 26, 2020
0

The oil majors are set to unveil their second-quarter earnings in the coming days, and analysts expect the figures...

Read more
Big Oil Braces For Brutal Earnings Season | OilPrice.com
Companys

Big Oil Braces For Brutal Earnings Season | OilPrice.com

by Oil Market
July 26, 2020
0

The oil majors are set to unveil their second-quarter earnings in the coming days, and analysts expect the figures...

Read more
Goldman Sachs strikes $3.9B settlement in Asia scandal; oil rout claims 21K
Companys

Goldman Sachs strikes $3.9B settlement in Asia scandal; oil rout claims 21K

by Oil Market
July 25, 2020
0

Goldman ends bond scandal for $3.9BKUALA LUMPUR, Malaysia — Malaysia's government said Friday it has reached a $3.9 billion...

Read more
Next Post
How Oil Prices Went Subzero: Explaining the COVID-19 Oil Crash

How Oil Prices Went Subzero: Explaining the COVID-19 Oil Crash

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Oil Search Resumes Trading on PNGX, while Horizon Oil Concludes Bribe

Oil Search Resumes Trading on PNGX, while Horizon Oil Concludes Bribe

3 years ago
County in oil-production zone fights stay-at-home order | Fort Worth

County in oil-production zone fights stay-at-home order | Fort Worth

3 years ago
EDITORIAL: Oil, gas still vital to our economy

EDITORIAL: Oil, gas still vital to our economy

3 years ago
Will the Oil Price Crash Bankrupt Gran Tierra (TSX:GTE)? – The Motley Fool

This Oil Stock Has Gained 64% Since the Stock Market Crash – The Motley

3 years ago
Oil and Gas Expert Think Tank Made 5 Business Model Predictions Which Will

Oil and Gas Expert Think Tank Made 5 Business Model Predictions Which Will

3 years ago
Europe Oil Filled Distribution Transformer Market Size, Dealers, Suppliers,

Europe Oil Filled Distribution Transformer Market Size, Dealers, Suppliers,

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com