Oil & Gas
On April 20th, the oil prices hit subzero (-$37.63 per barrel) in the United States for the first time in history. The global onshore oil storage hovered around 77% full in the same month. During these times, every player in the oil and gas industry is sitting on the same question: what does the future look like in the face of the COVID-19 pandemic, and what lies ahead.
Oil prices have hit low records, forcing manufacturers to shut shop and hold on to stocks. But what are the storage solutions available to the oil industry?
Spills at oil and gas sites are bad news. They can pose a significant risk to the team working on the site, contaminate the immediate environment, and even have the potential to create long-term health issues in the surrounding regions. That’s why the Environmental Protection Agency or EPA has strict regulations in place for oil and gas companies to follow. Part of these EPA regulations includes the use of secondary spill containment as part of the oil containment solution.
Based on past events, it has become clear that inland spills are costly and damaging to the environment. The Keystone Pipeline oil spill in South Dakota in November 2017 resulted in a leak of about 210,000 gallons of oil. Incidents like this can and should be prevented, and prevention can be only done with adequate preparedness.