1980 - 0.5 

1990 - 1.0

2000 - 0.75

2010 – 1.0 

2020 – 1.5

Consumption ( million barrels )

1980 – 0.6

1990 – 1.2

2000 - 2.0

2010 – 2.5

2020 -  4.2

Unfortunately, no matter its reputation of being an environmentally friendly alternative energy source, geothermal energy also causes some minor concerns in regards to the environment. The extraction of geothermal energy from the grounds leads to a release of greenhouse gases like hydrogen sulfide, carbon dioxide, methane and ammonia. However, the amount of gas released is significantly lower than in the case of fossil fuels.

Furthermore, despite being considered a sustainable and renewable energy, the chances are that specific locations might cool down after time, making it impossible to harvest more geothermal energy in future. The only non-depletable option is sourcing geothermal energy right from magma but the technology for doing so is still in the process of development. This option is worth the investment mainly thanks to the fact that magma will be around for billions of years.

Another disadvantage is the high initial cost for individual households. The need for drilling and installing quite a complex system into one’s home makes the price climb quite high. Nevertheless, the return on such investment is very promising, being able to earn the investment back within 2 to 10 years.

In case of geothermal systems, having a piece of land next to the house is required in order to be able to install one. That makes geothermal systems hard to be implemented for homeowners in big cities, unless a vertical ground source heat pump is used.

First and foremost, geothermal energy is extracted from the earth without burning fossil fuels, and geothermal fields produce practically no emissions. What’s more, geothermal energy can be very beneficial, as you can achieve savings of up to 80% over conventional energy usage.

Geothermal energy also has many advantages when compared to other renewable sources like solar, wind or biomass. It is an exceptionally constant source of energy, meaning that it is not dependent on neither wind nor sun, and available all year long.

When looking at the availability factor, which shows how reliable and constant specific energy sources are, geothermal is ranking on the top.

Geothermal heat pump systems use 25% to 50% less electricity than conventional systems for heating or cooling, and with their flexible design they can be adjusted to different situations, requiring less space for hardware as opposed to conventional systems.

Due to the fact that geothermal systems only have few movable parts which are sheltered inside a building, the life span of geothermal heat pump systems is relatively high. Heat pump pipes even have warranties of between 25 and 50 years, while the pump can usually last for at least 20 years.

This sector underpins around 80,000 direct and indirect jobs – and hundreds of thousands of Australian jobs rely on the reliable, affordable and sustainable supply of oil and gas.

Many oil and gas jobs are based in rural and regional towns, which provides a range of benefits including upskilling and educational opportunities as well as creating stronger, more resilient local communities.

In addition, companies all over Australia are supplying goods and services to the oil and gas industry, and the use of fly-in, fly-out staffing is spreading the benefits of the sector right across Australia.

1) The Indian economy will likely see significant benefits in the form of lower current account deficit, reduced inflation and higher GDP following a slump in international crude oil prices, Kotak Institutional Equities Research said on Wednesday.

The collapse in cooperation between Saudi Arabia and Russia has triggered a plunge in oil prices that shows no signs of abating. Saudi Arabia has been cooperating with Russia to limit supply to the oil market and prop up prices.

2) Petroleum is thick and flammable, which is why it makes such an efficient resource for fuel. The color can range from yellow to black, while the hydrocarbons we harvest can also take on solid or gaseous qualities.

3) Burning oil produces carbon dioxide gas. This is a greenhouse gas that contributes towards climate change. Burning oil can pollute the air. Much of our oil has to be imported and it is becoming more and more expensive as reserves reduce and imports increase.

2) Yet there is a dearth of data mapping, analysis and real-time decision-making between the layers of IT applications and machines, as well as the systems used for actual operations. It is this gap the O&G industry is looking to bridge by integrating the processes of information technology and operational technology (OT).

3) One approach that enabled the project team to squeeze timelines and budget was the modular construction concept for building the steel structures. By directly erecting prefabricated steel structures, the team avoided major structural fabrication work at the site.

4) Plot clearing activities and construction of new workshops went on simultaneously, enabling the project team to release the plot for project activities in phases.

5) Civil works for the control room and substation building that started early set the pace for the rest of the project. The control room and sub-station were completed. The control room was used as a site office which allowed the team to monitor the project.