As we look back over the past 12 months, the year was full of ups and downs in the oil and gas industry and the global markets. For us, business was brisk as our products support a wide range of processes and applications. We’ve used our blog to share with you important topics and look forward to sharing the year’s highlights.
Since the oil and gas industry is subject to internal and external forces, we shared with you the latest industry concerns, trends, and updates. The industry is complicated. As a commodity crude oil is complex and understanding how the markets set oil prices is an important factor. Differentiating Crude Prices: Brent and WTI, The Future of a Benchmark, and The Economic Effects of Falling Oil Prices explain the variables. The crude industry also struggles with storing and delivering crude oil. This capacity and storage issue is ongoing.
Because of the volatility in the oil markets, many of the oil producing regions of the country saw a shift in production throughout the year. In response, we kept you up-to-date on the workings at Eagle Ford, the Permian Basin, and the Delaware Basin. Global concerns also affect the industry and just as we were starting to see a recovery and rise in prices, the UK voted to leave the EU. This was the topic of our July blog and it remains to be seen if Brexit has lasting effect on global oil prices.
Highlighting the potential of environmentally friendly compressed natural gas was coincided with April’s celebration of Earth Day. And as of recent, reviewing the petrochemical industry helped us to expand on an integral part of the petroleum industry.
We’d like to thank all of you for a very successful 2016 and are looking forward to continuing to serve you in 2017. From all of us at Southwest Process Control, we wish you Happy Holidays and a Healthy New Year!