Permian Basin trouble

Texas is home to Permian Basin, a large oil reservoir and it has  one of the world’s thickest deposits of rocks. The Permian Basin is actually composed of three total basins and produces over a couple billion of oil per day. Researchers have sink holes in West Texas due to the drilling and wastewater injection in the Permian Basin. Two large holes west of Midland have been found as well as smaller holes in the area all due the drilling of oil. “These hazards represent…

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Refineries are booming every year

Refineries are booming every year   “Refiners are set to beat all except three of 154 industry groups on the Standard & Poor’s index for 2012, as a U.S. production glut let them buy oil at a record average of $17.46 a barrel below the global benchmark. That spread will diminish in 2013 as more than 20 new pipelines enter service and route oil to new buyers along the Gulf Coast, Deutsche Bank AG forecast.” “While transportation projects including oil-by-rail and pipelines are booming, providing…

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Explosion Shuts down Oil Pipeline in Turkey

On Friday, in Ankara, Turkey, an explosion and fire caused a pipeline which carried oil from Iraq to World Markets to be shut down. The explosion hit a section of a pipeline in between the northern Iraqi City of Kirkuk and Turkey’s Mediterranean Port of Ceyhan. The pipeline has two lines running parallel to each other, which carried about 25 million tons of crude oil a year. Although the second line was not damaged officials stated “We still need to briefly shut the lines down…

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Wooden Pipeline

The title explains it all. In 1963 the raw materials were inside whiskey barrels and pulled by horses.  “Despite considerable ridicule, threats, armed attacks, arson and sabotage, the first wooden pipeline, about 9 miles in length, was built in 1865”   Today, oil pipelines are made out of steel or plastic tubes.  They are more than 9 miles in length. The Trans Canada pipeline is approximately 2147 miles.   Modern pipelines can be used for:   gather oil and gas over one mile beneath the…

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