Oil and gas industry had a ‘catastrophic contraction’ in 2020

Oil and Gas Industry Had a ‘Catastrophic Contraction’ in 2020

As petroleum companies begin reporting their financial performance for 2020, an economic report on the oil and gas industry in Texas reveals sharp declines in employment, drilling and oil production. ExxonMobil reported this week another negative quarter and a loss of $22.4 billion in 2020 compared to earning $14.3 billion…

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Author profile

Alex Mills is the former President of the Texas Alliance of Energy Producers. The Alliance is the largest state oil and gas associations in the nation with more than 3,000 members in 305 cities and 28 states.


3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

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