How Oil Companies are Turning a Profit Again

Written by Common Computer Problems on August 2nd, 2017. Posted in Above ground water storage tanks, Large waste water holding tank, Wastewater storage tanks

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In recent years, the oil industry has faced its fair share of challenges. A drop in oil prices combined with a loss of jobs in the oil industry had everyone shaken up. However, it appears that the oil industry is beginning to look up again. As oil prices dropped, companies have found ways to implement cost cutting measures. It looks as if these measures are working out in a great way, as BP reported a recent quarterly profit of $144 million. It doesn’t appear that oil will be reaching $100 per barrel prices. However, companies are enacting cost cutting measures to be ready when the price of oil begins to increase.

How Oil Companies are Reducing Spending

One way that companies are looking to save is through reducing oil exploration costs. In recent years, companies would have had a vas