Tools commonly used in the Oil Companies industry for day-to-day tasks and operations.

• Drilling rigs
• Wellhead equipment
• Mud pumps
• Blowout preventers
• Casing and tubing
• Downhole tools
• Artificial lift systems
• Oilfield trucks and trailers
• Oilfield cranes
• Oilfield generators

Common products and services typical of NAICS Code 211120-04, illustrating the main business activities and contributions to the market.

• Offshore drilling
• Oilfield services
• Oil refining
• Oil transportation
• Oil and gas exploration
• Oil and gas production
• Oil and gas trading
• Oil and gas marketing
• Oil and gas storage
• Oil and gas distribution

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• API Spec Q1: This certification is required for companies that provide quality management systems for the petroleum and natural gas industry. It is provided by the American Petroleum Institute.
• OSHA 30-Hour General Industry Training: This certification is required for employees who work in the oil industry to ensure they have the necessary knowledge and skills to work safely. It is provided by the Occupational Safety and Health Administration.
• EPA Spill Prevention, Control, and Countermeasure (SPCC) Plan: This certification is required for oil companies to prevent oil spills and protect the environment. It is provided by the Environmental Protection Agency.
• DOT Hazardous Materials Transportation Training: This certification is required for employees who transport hazardous materials, including oil, to ensure they have the necessary knowledge and skills to transport them safely. It is provided by the Department of Transportation.
• ISO 14001: This certification is required for companies that have an environmental management system in place to reduce their environmental impact. It is provided by the International Organization for Standardization.

A concise historical narrative of NAICS Code 211120-04 covering global milestones and recent developments within the United States.

• The "Oil Companies" industry has a long and rich history dating back to the mid-19th century when the first commercial oil well was drilled in Pennsylvania, USA. The industry has since grown to become a global powerhouse, with major players such as ExxonMobil, BP, and Royal Dutch Shell dominating the market. Notable advancements in the industry include the development of offshore drilling technology, the creation of the petrochemical industry, and the discovery of new oil reserves in previously untapped regions such as the Middle East. In recent history, the industry has faced challenges such as the 1970s oil crisis, which led to a shift towards alternative energy sources, and the 2010 Deepwater Horizon oil spill, which highlighted the environmental risks associated with oil extraction. Despite these challenges, the industry remains a vital component of the global economy. In the United States, the "Oil Companies" industry has a similarly rich history, with the first commercial oil well being drilled in Titusville, Pennsylvania in 1859. The industry grew rapidly in the early 20th century, with the development of the automobile leading to increased demand for gasoline. The industry faced challenges during the Great Depression and World War II, but rebounded in the post-war period with the growth of the suburban lifestyle and the construction of the interstate highway system. In recent years, the industry has faced increased scrutiny over its environmental impact, with concerns over air and water pollution, as well as the impact of climate change. Despite these challenges, the industry remains a major contributor to the US economy, providing jobs and energy security for millions of Americans.

The anticipated future trajectory of the NAICS 211120-04 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Oil Companies industry in the USA is expected to be positive. The industry is projected to grow in the coming years due to the increasing demand for oil and gas. The industry is also expected to benefit from the rising oil prices, which will increase the revenue of the companies. However, the industry is also facing challenges such as the increasing competition from renewable energy sources and the growing concerns over the environmental impact of oil and gas production. To overcome these challenges, the industry is expected to invest in research and development to improve the efficiency of oil and gas production and reduce the environmental impact. Overall, the industry is expected to continue to play a significant role in the US economy in the coming years.

Recent groundbreaking advancements and milestones in the Oil Companies industry, reflecting notable innovations that have reshaped its landscape.

• Exxonmobil's Development Of a New Technology That Reduces Emissions from Natural Gas Production by Up to 90%: The technology uses membranes to capture carbon dioxide and other impurities from natural gas before it is transported.
• Chevron's Investment In Renewable Energy: The company has invested in wind and solar power projects in the US and abroad to diversify its energy portfolio.
• Bp's Acquisition Of a 50% Stake In a US Offshore Wind Project: The project is expected to generate enough electricity to power 400,000 homes.
• Shell's Development Of a New Lubricant for Electric Vehicles: The lubricant is designed to improve the efficiency and extend the life of electric vehicle batteries.
• Conocophillips' Use Of Drones for Oil and Gas Exploration: The company is using drones to survey and map oil and gas fields, which reduces the need for human workers in dangerous or remote locations.