Chicago Company Mines at Oil Wells, Educates Producers About Bitcoin
Utilizing stranded gas to power bitcoin mining rigs at oil and gas wells is a promising business opportunity. It is profitable for
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Oil
Thailand Introduces Blockchain-Based Tax Refunds for Oil Exporters
The Excise Department in Thailand is poised to introduce a new way of refunding overpaid taxes to oil exporters by using blockchain technology.On Nov. 25, director-general Patchara Anuntasilpa told the Bangkok Post that the Thailand Excise Department will change its current tax refund practice by introducing a blockchain-based tax
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Venezuela’s President Maduro: Storage Crude Oil to Back Petro Cryptocurrency
President of Venezuela Nicolas Maduro released a statement related the reserves of the Petro, the state backed cryptocurrency of Venezuela. Maduro’s government has been pushing for an increased use of Petro by the Venezuelan citizens.On Wednesday, President Maduro said that some 30 million oil barrels in the country’s storage tanks
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Canadian Company Commissions 3 Bitcoin Mining Units to Restart Oil Well
A nascent industry utilizing flared gas to power bitcoin mining units has been developing over the past year or so, in symbiosis
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Mexico: State-Owned Oil Firm Targeted in $5 Million Bitcoin Ransomware Attack
Petroleos Mexicanos (PEMEX), a state-owned petroleum company established in 1938, has suffered a ransomware attack that has succeeded in shutting down its computers and online payment systems. The hackers are demanding for 565 BTC and have given the firm a 48-hour deadline to send the money. DoppelPaymer Attacks PEMEX In a fresh
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Venezuela State-Run Oil Firm to Pay Suppliers in Bitcoin
As the age-long economic crisis rages on, Venezuela’s apex bank, Banco Central de Venezuela (BCV) is now running internal tests with officials to find out the possibility of holding bitcoin (BTC) and ether (ETH) in its coffers as foreign reserves, as the nation’s state-owned oil company is looking to pay
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Oil and Gas Giant Pilots New Blockchain Platform From Modex
Blockchain startup Modex announced the launch of its blockchain-based database platform for simplified blockchain deployment, which will be piloted by Dietsmann, a major oil and gas firm.Simplifying blockchain adoption On Sept. 19, Modex announced the release of its latest product, the Modex Blockchain Database platform (Modex BCDB) which simplifies the
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Oil Giants Hire Blockchain Startup to Manage Water in Bakken Fields
A consortium of oil companies including Exxon Mobil, Chevron and Royal Dutch Shell looks to blockchain to manage water used in oil extraction in North Dakota’s Bakken oil fields.Oil and waterAs Reuters reported on Sept. 10, the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium has awarded a
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Shell and Sinochem Discuss Blockchain Platform for Crude Oil
A subsidiary of Chinese oil and chemical giant Sinochem Group is reportedly in discussions regarding a blockchain platform with Royal Dutch Shell and Australian financial services firm Macquarie Group.As Reuters reported on Sept. 5, sources familiar with the matter said that Sinochem Energy Technology entered into negotiations with the
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Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo
Data Gumbo Corp., a Houston-based technology company that has developed a blockchain-as-a-service (BaaS) platform to streamline smart contracts for oil & gas, is now working with Antelope Water Management, the Austin-based company providing sustainable water solutions for the extractive industries in oil & gas, who has adopted Data Gumbo’s blockchain
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