oil and gas mud pump price

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

There are three types of mud pumps, depending on the type of client and the size they want. For general, mud pumps, there are three basic types of mud pumps, depending on the type of client and budget. The piston pump is another compressed mud pump, which is a pushed electric compressor mud pumps and by compressed air.

Electric mud pumps are largely divided into three categories, among them the electric mud pumps and the semi-trash mud pumps. The piston inflated mud pumps are also classified in terms of the type of mud pumps, among them are electric mud pumps and semi-trash mud pumps. In addition, the piston inflates mud and mud pumps will be inflated by the piston, which is inflated mud pumps.

If you are supplying pump supplies, you can find the most favorable prices at Alibaba.com. Whether you will be working with piston type or diaphragm type systems, reciprocating or centrifugal, Alibaba.com has everything you need. You can also shop for different sizes drilling mud pump price wholesale for your metering applications. If you operate a construction site, then you could need to find some concrete pump solutions that you can find at affordable rates at Alibaba.com. Visit the platform and browse through the collection of submersible and inline pump system, among other replaceable models.

A drilling mud pump price comes in different makes and sizes, and you buy the tool depending on the application. The pump used by a filling station is not the one you use to fill up your tanks. There are high flow rate low pressure systems used to transfer fluids axially. On the other hand, you can go with radial ones dealing with a low flow rate and high-pressure fluid. The mixed flow pump variety combines radial and axial transfer mechanisms and works with medium flow and pressure fluids. Depending on what it will be pumping, you can then choose the drilling mud pump price of choice from the collection at Alibaba.com.

Alibaba.com has been an excellent wholesale supplier of drilling mud pump price for years. The supply consists of a vast number of brands to choose from, comes in different sizes, operations, and power sources. You can get a pump for residential and large commercial applications from the collection. Whether you want a water pump for your home, or run a repair and maintenance business, and need a supply of dr drill mud pump prices, you can find the product you want from the vast collection at Alibaba.com.ther it is for refrigeration, air conditioning, transfer, or a simple car wash business, anything you want, Alibaba.com has it.

The 2,200-hp mud pump for offshore applications is a single-acting reciprocating triplex mud pump designed for high fluid flow rates, even at low operating speeds, and with a long stroke design. These features reduce the number of load reversals in critical components and increase the life of fluid end parts.

The pump’s critical components are strategically placed to make maintenance and inspection far easier and safer. The two-piece, quick-release piston rod lets you remove the piston without disturbing the liner, minimizing downtime when you’re replacing fluid parts.

An integral part of onshore and offshore drilling, mud pumps circulate the drilling fluids used to facilitate drilling oil and natural gas wells. Used to stabilize pressure and support the well during the drilling process, drilling fluids also provide friction reduction and a means to remove cuttings.

While drilling with some type of fluid has been in practice for centuries, the term "drilling mud" was coined when a herd of cattle was driven through a wet field near Spindletop, and the resulting mud was used to lubricate the drillstring and drill bit. Drilling fluids have come a long way since those early days of drilling, and offshore mud pumps are constantly taxed to help operators find and develop hydrocarbons in harsher, deeper and more difficult locations.

"A mud pump delivers drilling fluid from the mud tanks, through the top drive, down the drill string and through the bit," explained Juan Lerma, Mud Pumps Product Line Manager at National Oilwell Varco. "When the mud exits the bit, it travels back to the surface carrying the cuttings made by the bit where it flows over a shale-shaker removing the cuttings, cleaning the mud and returning it to the tanks, where it"s used over and over again."

Varying according to the conditions of well being drilled, as well as the type of rock formations the bit is encountering at each depth, drilling fluids are composed of numerous ingredients, including clay, water, oil and synthetic materials. When drilling offshore, the environmental impact of drilling fluids must be more closely considered.

"A mud pump is one of the critical and required pieces of equipment for a drilling rig whether on land or offshore," Lerma stated. "Offshore, where real estate is at a premium, mud pumps are configured with a compact top-mounted drive system, reducing the overall length with a smaller package and strategically placing it in the pump room for permanent installation."

"On the other hand, space is not as much of an issue on land rigs," continued Lerma. "Here special consideration is paid to truck specifications and height restrictions for travel on roads, instead."

There are a number of different situations encountered when drilling offshore. For example, while jackups focus on waters not exceeding a depth of 350 feet, drillships and semisubs can drill in waters measuring up to 12,000 feet deep.

"Jackups semis and drillships all use the same mud pumps; however, the number of pumps installed in the pump rooms changes from rig to rig depending on the drilling specifications," explained Lerma.

Additionally, the rock formations and pressure encountered when drilling may vary; HT/HP and environmental conditions also may affect the drilling process, as well as the drilling fluids chosen and mud pumps required.

"As the drilling programs require higher flows and higher pressures, it is necessary to increase pressure ratings and either increase the number of mud pumps required or utilize larger capacity mud pumps," Lerma continued. "Most early jackups utilized two mud pumps and piping systems rated for 5000 psi work pressures and 1600 horsepower, while most of today"s jackups have 7500 psi working pressure and up to four 2200 HP pumps piping systems."

According to information gathered by premium rig data service RigLogix, National Oilwell Varco leads the pack in providing mud pumps to offshore oil rigs. Of the top six brands of mud pumps, NOV supplies four of them, garnering more than 70% of the offshore mud pump market.

Those leading NOV brands include National Oilwell, Continental Emsco (which was acquired by NOV in 1999), National and NOV. The other leading mud pump system is provided by Gardner Denver and is the third most popular type of system offshore. Additionally, Lewco, a division of Rowan, has about 4% of the offshore mud pump market, putting it fifth on the list of leading suppliers.

With more than four decades of experience providing the offshore industry with mud pumps, Lerma revealed that the company has been able to sustain such a high market share by constantly transforming the product to meet the needs of the industry. As offshore drilling programs have required higher flows and pressures, the company has strived to provide the best quality equipment, while maintaining the lowest cost of ownership.

To better serve its offshore clients, the company developed the Hex Pump in the last several years, and this new line of mud pumps has proven a success in offshore waters worldwide. Boasting 2400 HP, the Hex pump is capable of delivering up to 1,034 gallons of drilling fluids per minute, making it one of the most powerful mud pumps on the market today.

In 2004, the first two Hex Pumps were deployed on a Global Santa Fe rig working offshore West Africa, and in 2005, both the Noble Max Smith and the Noble All While started using the Hex Pump as well. In fact, the Noble Al White, working in the harsh conditions of the North Sea, was the first rig to be solely dependent on the Hex Pumps with two of them located in its pump room, and the rig now has more than 8,000 hours of successful drilling operations using the system.

Through these successes, the company has been able to lock in orders for many of the newly built and under-construction offshore rigs joining the global fleet now and in the future.

"The first drillship to use the system, Transocean"s Discoverer Clear Leader just started drilling in the Gulf of Mexico with five Hex Pump systems," said Lerma. "Additionally, the soon-to-start-drilling Discoverer Americas houses four Hex Pumps, and the soon-to-be-delivered Discoverer Inspiration will have five."

When autocomplete results are available use up and down arrows to review and enter to select. Touch device users, explore by touch or with swipe gestures.

Ahmedabad Shed No-08, Block-B, Grand Vishala Industrial Estate, Near Royal Restaurant, Sardar Patel Ring Road, Odhav, Ahmedabad - 382415, Dist. Ahmedabad, Gujarat

Bentec completely redeveloped the concept of Mud Pumps. Being equipped with a direct-driven gearbox, an own developed motor, and a state-of-the-art pump housing, there is no need for an internal gear coming with many disadvantages and no more belt tensioning.

Bentec Mud Pumps are light weight and have a small footprint. The AC-powered motor is top or rear mounted – suitable for any drilling rig arrangement. The pump is available with 5 000 or 7 500 psi fluid ends, and all its parts that are subject to wear and tear meet API standards and are available worldwide.

A handling crane makes it easy to handle the fluid end components. Furthermore, Bentec uses a patented liner and valve clamping technology to reduce the maintenance time significantly. A quick-change liner and piston system serves for easy maintenance. A special feature of the Bentec MUD PUMP is the side-mounted gear drive.

This design eliminates the need for chain or belt tensioning systems. The two-stage helical gear feeds directly into a forged/welded crankshaft, which is balanced and provides quiet and vibration-reduced operation.

Liner cooling and gear oiler systems are included; a supercharge pump and a noise reduction package can be installed upon request. The Bentec MUD PUMP is the right choice especially when it comes to noise-sensitive environments such offshore or densely populated environments.

Beyond the supply of Mud Pumps, Bentec acts as system supplier. The pumps can be delivered together with a Bentec Power Control System and a Bentec Soft Pump System.

We, at Waters, provide high-standard, quality built mud pumps and its parts for oil and gas drilling operations on sale! We provide both sparingly used mud pumps and its parts to our customers in Houston and other areas in the United States.

In a tight market, leasing or renting rig equipment is the smart move. Waters International offers its customers a wide range of leasing and rental programs that can significantly reduce capital costs and accelerate ROI

The drop-down menu at the top lists the items we usually have in-stock. All of them are also normally available for sale or for rent. Rental products also include additional systems such as Triplex Mud Pumps (Diesel or Electric), Mud Tanks and Solids Control Equipment. For fast and easy equipment request, we have provided online forms customized to each specific area of interest. The photos below illustrate just a few of the items available in our inventory.

The mud pump is an integral part of drilling operations. Also called mud drilling pump, it is a kind of plunger pump or a reciprocating piston, which circulates the drilling fluid through the drill string and back up the annulus. The operation takes place under very high pressure of about 7,500 psi or 52,000 kPa.

Waters provide mud pumps of varying configurations and sizes according to our customer’s requirements. Every oil rig requires a different kind of mud pumps and parts. That is why, at Waters, we offer customized mud pumps according to your requirements. Be it the triplex or three-piston pump for the petroleum rig or the duplex mud pumps, we have with us a wide range of products to satisfy your oil rig specifications.

A mud pump is pivotal to rig drilling operations and at Watersintl, we attach great importance to the quality, make and build of every drilling rig mud pump that we offer for rental. With competition causing margins to shrink, the way to financial and operational success is mud pump rental.Operational efficiency is the key to success and a mud pump can actually be the single biggest contributor to drilling operations. With a lot riding on the capacity and rugged build of a mud pump, a rental is definitely a better choice.

We, at Waters, believe in quality over quantity. For the past five decades, we have gathered enough inputs and experiences to ensure our clients go satisfied after the purchase of our mud pumps and parts.

We, therefore, offer a comprehensive price range on our mud pumps for drilling in Houston. We have both sparingly used and new mud pumps to suit our customers’ requirements. Whatever your budget is, we will provide you the best choice in mud pumps and promise to deliver quality products at an affordable price range.

We know how difficult it is to find that one perfect part or the whole mud pump to fit in your drilling operations. That is why; we keep minimum delivery time to ensure our customers do not suffer downtime.

If you are looking for a mud pump, we would be happy to help! Just call us with your requirements or talk to our experts to know more about our mud pumps and other products!

At Watersintl, our specialization in equipment for drilling, lends us with greater exposure on the all- important mud pump, permitting us to offer the best models. Choose from a wide range of models that feature on our list of equipment available for rental. Benefit from our technical expertise that improves the operational efficiency and reliability of every single mud pump we offer on rent. The inspection routines and servicing that we follow transforms every mud pump into a rugged workhorse that will help you improve operational ability. Browse through our extensive list of drilling equipment and benefit from qualitative superiority and our reputation as one of the very best in the industry.

For the successful execution of your projects, it is important to find an appropriate company with a good track record. We help you in connecting with the top mud pump manufacturers and companies and get the best quotation.

We have designed affordable annual subscription plans which would help you get leads for your business. You can have a look at our pricing chart by clicking on this link: https://www.energydais.com/pricing/ . These plans are customized according to the specific needs and requirements of your business.

The most widely used mud pumps across the industry are Triplex Reciprocating Pumps. Their application has gained immense popularity with time because they are 30% lighter than duplex reciprocating pumps with relatively less operational cost. Moreover, through these pumps the discharge of mud is smooth and they are capable of moving large volume of mud at higher pressure.

Yes. We help you find the best mud pumps irrespective of your location. We simplify your search by connecting you with top mud pump manufacturers and mud pump companies in your location, according to your budget and business requirement.

Yes. We use third-party companies to provide best quotations for your shipment and inspection of manufactured goods. We make sure that you get quality products from the manufacturer at the best price.

The most widely used mud pumps across the industry are Triplex Reciprocating Pumps. Their application has gained immense popularity with time because they are 30% lighter than duplex reciprocating pumps with relatively less operational cost. Moreover, through these pumps the discharge of mud is smooth and they are capable of moving large volume of mud at higher pressure.

The different parts of a mud pump are Housing itself, Liner with packing, Cover plus packing, Piston and piston rod, Suction valve and discharge valve with their seats, Stuffing box (only in double-acting pumps), Gland (only in double-acting pumps), and Pulsation dampener. A mud pump also includes mud pump liner, mud pump piston, modules, hydraulic seat pullers along with other parts.

The wearing parts of a mud pump should be checked frequently for repairing needs or replacement. The wearing parts include pump casing, bearings, impeller, piston, liner, etc. Advanced anti-wear measures should be taken up to enhance the service life of the wearing parts. This can effectively bring down the project costs and improve production efficiency.

One of the most expensive and troubling issues with drilling operations is the handling, processing, and circulation of drilling mud along with disposing of the unwanted drill cuttings. The drilling cuttings deposited in the half round tank and are typically removed with an excavator which must manually move the drill cuttings out of the waste bin or roll-off box and into the truck. The excavators are usually rented for this duty and the equipment charges can range from $200-300/day. Add in the cost for the day and night manpower and the real cost for a single excavator can be as much as $1800/day.

Using the excavator method explained above, the unloading of 50 barrels of drill cuttings from the half round can take as long as one to two hours. This task is mostly performed by the solids control technicians. The prime duty for the solids control technicians is to maintain the solids control equipment in good working order. This involves maintenance for the equipment, screen monitoring and changing, centrifuge adjustments, and retort testing to prepare a daily operational summary of the solids control program.

Operating the excavator takes the technician away from these tasks and can lead to poorly performing equipment. Additionally, the excavator has the potential for abuse as some solids control technicians use the climate-controlled cab as a break area or refuge from the elements. Many times, these guys are found asleep on the job.

One solids control company reported the idle time for the excavator can be more than 8 hours for a 24-hour period with 8 hours of operation and 8 hours of shut down time. Fuel and time lost can cause an economic drag on rig operations. And lastly, there have been several accidents on each rig causing a potential for injury, loss of production, and lost revenue as the excavator must be repaired.

Offshore drilling rigs follow a similar process in which the mud is loaded into empty drums and held on the oil platform. When a certain number of filled drums is met, the drums are then loaded onto barges or vessels which take the drilling mud to the shore to unload and dispose of.

Please try again in a few minutes. If the issue persist, please contact the site owner for further assistance. Reference ID IP Address Date and Time 406b4f95116c28dca247da206ca234ea 63.210.148.230 02/27/2023 05:05 PM UTC

The policy set forth below outlines the personal data that Power Zone Equipment may collect, how Power Zone Equipment uses and safeguards that data, and with whom we may share it. This policy is intended to provide notice to individuals regarding personal data in an effort to be compliant with the data privacy laws and regulations of the jurisdictions in which Power Zone Equipment operates.

Power Zone Equipment encourages our employees, independent contractors, customers, suppliers, commercial visitors, business associates, and other interested parties to read this policy. By using our website or submitting personal data to Power Zone Equipment by any other means, you acknowledge that you understand and agree to be bound by this policy, and agree that Power Zone Equipment may collect, process, transfer, use and disclose your personal data as described in this policy.

Power Zone Equipment is committed to maintaining all reasonable precautions to ensure the privacy and security of personal data gathered by Power Zone Equipment. During your use of our website or through other communications with Power Zone Equipment, personal data may be collected and processed by Power Zone Equipment. In general, Power Zone Equipment collects personal contact information (e.g. name, company, address, telephone number and e-mail address), which you knowingly provide either by registration, requesting quotes, answering questions or otherwise for use in our commercial relationship. At times we may collect additional personal data that you voluntarily provide, including, but not limited to, job title, additional contact information, date of birth, hobbies, areas of interest, and professional affiliations.

Power Zone Equipment’s website is intended to be used by Power Zone Equipment customers, commercial visitors, business associates, and other interested parties for business purposes. Personal data collected by Power Zone Equipment through its website or by other means is used in support of our commercial relationship with you, including, but not limited to, the processing of customer orders, orders from vendors, managing accounts, learning about customers’ needs, responding to inquiries, and providing access to information. Also, in compliance with the laws and regulations of the relevant jurisdiction to support our relationship with you:

we (or a third party on our behalf) may use personal data to contact you about a Power Zone Equipment offer in support of your business needs or to conduct online surveys to understand better our customers’ needs; and

If you choose not to have your personal data used to support our customer relationship (especially direct marketing or market research), we will respect your choice. We do not sell your personal data to third parties, nor share it with third parties except as set forth in this policy. Power Zone Equipment will retain your personal data as long as you maintain a customer relationship with Power Zone Equipment and/or if you have registered to receive marketing or other communication from Power Zone Equipment, until such time as you request that we delete such personal data.

Power Zone Equipment is the commercial operator of its website and uses service providers to assist in hosting or otherwise acting as data processors, to provide software and content for our sites and to provide other services. Power Zone Equipment may disclose personal data supplied by you to these third parties who provide such services under contract to protect your personal data. In addition, where consistent with the laws and regulations of the relevant jurisdiction, Power Zone Equipment may disclose personal data if such disclosure:

For our customers in Switzerland and the European Union (EU), please note that Power Zone Equipment is a US based company. If you use our websites or web portals or, all information, including personal information, may be transferred to Power Zone Equipment (including subcontractors that may be maintaining and/or operating our website) in the United States and elsewhere and may be transferred to third parties that may be located anywhere in the world. Although this may include recipients of information located in countries where there may be a lower level of legal protection for your personal information than in your location country, we will protect your information in accordance with requirements applicable to your information and/or location. Specifically, for data transfers out of the EU, Power Zone Equipment will utilize data transfer agreements containing the Standard Contractual Clauses. By using our websites or web portals, you unambiguously consent to the transfer of your personal information and other information to the United States and elsewhere for the purposes and uses described herein.

When you access Power Zone Equipment’s websites or web portals, we may automatically (i.e., not by registration) collect non-personal data (e.g. type of Internet browser and operating system used, domain name of the website from which you came, number of visits, average time spent on the site, pages viewed). We may use this data and share it with our worldwide affiliates and related service providers to monitor the attractiveness of our websites and improve their performance or content. In this case, processing is performed on an anonymous basis and at Power Zone Equipment’s discretion.

In addition, certain online technical applications or other interactions you have with Power Zone Equipment may require the entry of business and technical data. By providing the requested information, you are consenting to the processing and storage of such information by Power Zone Equipment. Unless Power Zone Equipment is advised that you want this information removed from Power Zone Equipment’s server, such information may be retained by Power Zone Equipment and used for future commercial communications. A request for removal of this information can be made at the contact information provided below. Power Zone Equipment will take all reasonable precautions to assure that no such information will be provided or divulged to other third parties, except, if applicable, those third parties performing site hosting, maintenance, and related site service activities.

Cookies are information stored automatically on a website user’s computer. When a user views Power Zone Equipment’s website(s), Power Zone Equipment may store some data on the user’s computer in the form of a “cookie” to automatically recognize the user upon future visits to Power Zone Equipment’s website(s). Power Zone Equipment will make reasonable efforts to ensure compliance with the laws and regulations of relevant jurisdictions with regard to cookies.

Power Zone Equipment will take reasonable precautions to protect personal data in its possession secure against the risk of loss, misuse, unauthorized access, disclosure, alteration and destruction. Power Zone Equipment periodically reviews its security measures in an effort to ensure the privacy of personal data.

Power Zone Equipment will use personal data only in ways that are compatible with the purposes for which it was collected or subsequently authorized by you. While Power Zone Equipment will take reasonable steps to ensure that personal data is relevant to its intended use, accurate, complete, and current, Power Zone Equipment is also relying upon each individual to assist in providing accurate updates of his or her personal data.

Power Zone Equipment website(s) may contain “links” to websites owned and operated by third parties. By accessing these links, which are provided for your convenience, you will leave our site and will be subject to the privacy practices of the other website. This policy does not apply to any personal information you provide to unrelated third parties.

In general, Power Zone Equipment will only retain personal data for as long as needed for the specific purpose of processing and in accordance with Power Zone Equipment’s records management policy, or as otherwise required by the laws and regulations of a particular jurisdiction. For example, data will be retained during the time period that you are authorized to use Power Zone Equipment website(s), including any Power Zone Equipment tools accessible through our website(s). Upon termination of such authorization, your personal data related to use of Power Zone Equipment website(s) will be removed.

To the extent required by applicable law, Power Zone Equipment will grant individuals reasonable access to personal data that Power Zone Equipment holds about them and will take reasonable steps to permit such individuals to correct, amend, or delete information that Power Zone Equipment holds about them. Power Zone Equipment also relies upon each individual to assist in providing accurate updates of his or her personal data. In order to access, correct, amend, or delete the personal data Power Zone Equipment holds about an individual, the individual should contact his or her Power Zone Equipment commercial contact or contact us at the following email address:sales@powerzone.com.

If you have a comment, question, or complaint about how Power Zone Equipment is handling your personal data, we invite you to contact us in order to allow us to resolve the matter. In addition, individuals located in the EU may submit a complaint regarding the processing of their personal data to the EU data protection authorities (DPAs). The following link may assist you in finding the appropriate DPA:http://ec.europa.eu/justice/data-protection/bodies/authorities/index_en.htm.

Power Zone Equipment reserves the right to modify this policy from time to time in order that it accurately reflects the legal and regulatory environment and our data collection principles. When material changes are made to this policy, Power Zone Equipment will post the revised policy on our website.

If you have any questions or comments about this policy (e.g. to review and update, or remove your personal data from our database) please contact +1-719-754-1981 orsales@powerzone.com

Titan Oil Tools offers high quality mud pump expendables and mud pump replacement parts for the wide variety of mud pumps, centrifugal pumps found on the world market today. These quality pump parts offer great performance and our pricing will save you money.

We are your oilfield supplier of choice for mud pump spares and mud pump parts: mud pump piston liners and pistons. All mud pump parts can be sourced for fast delivery; Come to us for mud pump liners, pistons, piston rods and parts, pony rods, threaded rings and caps,and more. Try us for duplex and triples pump spares and duplex and triplex mud pump parts, and also valve parts like valve seats. gland nut, and mud pump gaskets.

Mud pump liners may come in chrome, alumina ceramic and zirconia ceramic. Chrome liners and alumina ceramic liners are less costly, their cost of replacement over one year as the chart below shows, is much more than zirconia ceramic liners.

The table below shows a Mud Pump Liner Cost of Ownership which shows a reasonable cost comparison for a rig in continuous service for 36 months. This of course does not include the high cost of maintenance downtime and the cost of labor.

The prices below are based on cost/cylinder. Savings increase when you add up the number of pump cylinders on your rigs and extend the savings to understand the big difference it can make for your budget.

Oil price volatility has always been a challenging element in the oil & gas industry. Oil prices have been declining in the last three to four years. However, the recent COVID-19 pandemic has led to disruptions in the oil demand and had a severe impact on financial markets. The COVID-19 crisis has affected various industries, including energy & power, automotive, and chemicals. However, due to the lockdown, people and goods are not moving around, resulting in a heavy blow to the demand for transport fuels. China is one of the largest importers of oil and has shown a steep fall in demand, which has led to significant implications for the global oil & gas market. The Organization of the Petroleum Exporting Committee (OPEC) issued guidelines for oil producers to cut oil production by 1.5 million barrels. This guideline had to be followed by other countries as well. However, few countries continued to produce oil at the same level, resulting in a steady production level compared to a fall in oil requirements. This resulted in a huge demand-supply gap in the industry due to global lockdown by most countries because of the outbreak. The COVID-19 crisis resulted in an unprecedented fall in oil prices, reaching negative. The sudden cut in oil production has posed strategic challenges that must be faced by leading oil & gas companies.

Crude Oil Production in the US (2012–2021)The market for mud pumps has also been affected due to reduced upstream activities. A mud pump is a large, high-pressure single acting triplex reciprocating pump used to circulate mud in wells with pressure. However, the operations of oil & gas exploration could be stopped to a certain extent. If the production stops, the oil wells would be sealed, which might risk the loss of the asset permanently. This would lead to huge losses and lower than zero dividends by the oil companies to the pension funds, especially in North America and Europe. On 15th May 2020, the Energy Information Administration (EIA) announced its forecast on crude oil production fall in the year 2020 and 2021 due to the falling demand for petroleum products because of the pandemic. EIA forecasts that the US crude oil production would average at 11.7 million barrels per day in 2020 and 10.9 million barrels per day in 2021. These levels would be lower than the 2019 average of 12.2 million barrels per day.