The decline of the oil industry has been predicted for many decades, but continued exploration uncovers new oil fields and new technologies continue to bring  previously inaccessible reserves within our reach.

This infographic, by courtesy of Chiltern Thrustbore, covers the concept of 'Peak Oil',  a theory which suggests that there will be a time in the future when the maximum rate of oil extraction is reached, followed by a decline bringing considerable economic impact across the world.

For those of you interested in finding out more about on-site machines used for maintaining oil wells and petrochemical installations, we recommend you take a look at the Mirage machines website, where you can view product specifications of portable machine tools, download case srtudies and watch videos.

Photograph by KrisScottHall - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=53499965

Although the oil and gas industry is still going through tough times, one area that continues to provide a steady stream of work is in the decommissioning sector. Thanks to EIC DataStream,  we are able to bring you a list of oil and gas decommissioning projects awarded so far in 2017.

If after reading the article you want to know more about the relevant machining products, we recommend you check out our portable machine tools section, or download one of our product buyers guides here.

How deep can drilling machines go before the extreme heat and pressure makes them inoperable?

This infographic, courtesy of Visual Capitalist, provides the answer by illustrating the incredible depth of the world’s deepest oil well, the Z-44 Chayvo Well, which is located in eastern Russia.

For those of you interested in finding out more about on-site machines used for maintaining oil wells and petrochemical installations, we recommend you take a look at the Mirage machines website, where you can view product specifications of portable machine tools, download case studies and watch videos.

Back in April, we published an article Portable on-site machine tool applications for LNG construction projects and with LNG activity set to increase, we thought it would be useful to update you on the LNG projects planned in the North and South America regions. The information taken from EIC DataStream lists potential projects which are either at the feasibility or the Pre-Feed (Front engineering design) stages. 

We’ve listed these by project value in descending order in an easy to read graphic format, along with a little more background information.

IfaAfter reading the article you want to know more about the relevant machining products we recommend you check out our earlier blog post, or download one of our product buyers guides using the button below.

Many of Mirage's customers are on-site engineering service companies, who use our portable on-site machining products for a wide range of oil and gas machining projects.  

The recent collapse in oil prices has made life very tough for these companies. Over production by OPEC (The Organization of the Petroleum Exporting Countries) has played a significant part, but as the infographic below published by Jones Oil shows us, there are many other factors which can also cuase oil prices to fluctuate.