The Internet is More Important to Investing than You’d Think

The oil industry is like every other in that the Internet plays a variety of crucial roles. Professionals use the Web for anything from learning how to invest in oil to researching the best geological areas to drill in. Investors do business by communicating online. It’s clear the Internet has changed the fundamentals of how companies operate.

Bidding and Investing

In the past, investors met in person to discuss deals, but now many of them communicate online. Directories and indexes are available to connect with the right people, while property, asset and other sales can be driven by a variety of e-Commerce entities.

Aside from bidding on projects, other resources serve as centers for market and product news, such as Hydrocarbonline. Sales prospect and property listings are maintained at Petroleum Place, which also lists equipment for sale.

Geological Data

Online data resources make it easier to access vital information on geological formations, gravity data and maps. Experts have access to specific site information, which can include seismic, magnetic, topographic and heat flow data. This info helps in planning a new well or in making the decision to finalize a purchase.

There are also many sites for the technical journals that serve the oil industry. Paid services allow access to society bulletins and journals; users can subscribe, submit and otherwise contribute to these publications, interacting with industry peers on a professional level. Experts can link up with professional societies in the U.S. and in other countries, while the resources of innovative organizations, such as the Petroleum Technology Transfer Council, can easily be accessed.

Other Informational Resources

Besides how to invest in oil properly, other websites present a look at the annual energy outlook for different regions and countries. The U.S. Center for Disease control offers health and medical information for travelers who seek out business partners and visit various oil companies or rigs across the world.

The popular job banks include positions in the oil industry, so new or seasoned workers can use the Web in their job search. These include government, environmental and academic positions depending on the website, and there are even resources for listing foreign jobs.

Services for Rig Workers

Rig workers face constant demands and challenges, and benefit from faster communications. They can gain Internet access via RigNet, which specializes in remote satellite connections that also allow Web access on airplanes. The service is even useful for when personnel are off duty, when they can use email, social media sites, and browsers to search online.

Access to the Web is an attractive incentive for new workers because they are onboard rigs for long periods of time. Internet access is allowed on a significant percentage of oil rigs around the world.

The Internet, therefore, plays a substantial role in the oil industry, from entertaining workers on their downtime to doing business.