Segments within the oil and gas industry share many of the same trends, primarily stemming from the global transition from fossil fuels to renewable energy. Upstream, midstream and downstream areas are increasing productivity through technological advancements including hydraulic fracturing, extracting natural gas from shale and making plans for carbon capture, utilization and storage.
Hydraulic fracturing now produces 65% of the crude oil and 70% of the natural gas in the U.S. This is spurring a new trend, e-frac fleets, which are electric pumps that run on gas turbines. Parker plays a vital role in supporting the new age of drilling equipment and its applications.
The biggest trend affecting the U.S. pipeline market is the advancement of natural gas extraction from shale. Substantial new midstream infrastructure will be needed by 2025 to move increasing gas production to U.S. markets, as well as to the Gulf Coast, for shipment as LNG to Europe and Asia.
Facing mounting pressure about their high carbon emissions, oil refiners are starting to announce plans for CCUS, carbon capture, utilization and storage. A major example of CO2 utilization is for enhanced oil recovery, where it is injected into oil-bearing rocks to help release the oil.
Parker enables engineering breakthroughs that lead to a better tomorrow. But we can’t do it alone; customer collaboration is vital.
We work with OEMs to solve challenges, providing expertise in motion and control and application know-how. Parker also offers components and sub-systems in various platforms across the globe.
Our partnership doesn’t end when the product ships. We continue to jointly optimize equipment performance, reduce downtime and make our partnership even stronger.
Fine-Tuning Filtration for FLNG
Why LNG Needs the Right Filters
Why Standardization Matters in Oil & Gas
The Importance of Material Certification
Permanent Non-Welding Piping Solutions
When the Lines of Motion Control are Blurred
Eliminating Leaks in Small-Bore Installs
How to Extend the Life of a Hydraulic System
316 Stainless Steel Instrument Tube Fittings
Why Preventative Maintenance is Holding You Back
Listening to the Voice of the Machine