Simultaneously, ports are cropping up around the rim of the Gulf of Mexico to take advantage of alternative demand, especially in Eastern and Central Europe.
While the administration has blocked the Keystone XL oil pipeline and retained the 1974 U.S. crude oil export embargo, reliable sources have revealed alternatives to keep major refining capacity operating at full strength.
MRC Global’s 2013 third-quarter results show the company’s sales of $1.31 billion in that timeframe decreased 9.5% from $1.45 billion in the third quarter of 2012
December 16, 2013
MRC Global’s 2013 third-quarter results show the company’s sales of $1.31 billion in that timeframe decreased 9.5% from $1.45 billion in the third quarter of 2012 due, in part, to a planned reduction in the company’s lower margin oil country tubular goods business. OCTG represented 8.0% of sales in the third quarter of 2013 compared to 12.8% of sales in the third quarter of 2012.
Along time ago the saying was “Go West, young man.” Nowadays, it’s “Get to the Dakotas.” The modern-day oil boom in the Bakken region — covering a majority of North Dakota, northwestern South Dakota, eastern Montana and in the Canadian province of Saskatchewan — has been an impressive launching pad for PVF distributors willing to commit resources to the area.
Based on reliable reports from knowledgeable observers, the oil/natural gas boom continues to expand and will not be severely inhibited in the indeterminate future.