Petroleum--Industry of the Future
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General Characteristics of the Petroleum Industry and Its Price Problems
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Price Research in the Steel and Petroleum Industries Volume Author/Editor: Committee on Price Research Volume Publisher: NBER Volume ISBN: 0-87014-189-9 Volume URL: http://www.nber.org/books/unkn39-3 Publication Date: 1939 Chapter Title: General Characteristics of the Petroleum Industry and Its Price Problems Chapter Author: Committee on Price Research Chapter URL: http://www.nber.org/chapters/c5803 Chapter pages in book: (p. 82 - 94) 82 PART TWO state at the outset some of the limits of our inquiry as we have conceived it. The industrial field covered is indicated in Chapter II. It might be summarily described as the whole sequence of processes from exploration for oil to the deliv- ery of refined petroleum products to consumers. Within this field we have conceived it to be our respon- sibility not only to canvass the available statistical data upon current prices and costs (Chapter III), but also to examine critically the meaning, adequacy and reliability of these data and to suggest ways in which they might well be supplemented (Chapter IV). As we understand it, we were not called upon to make detailed investigations or tests of existing price information to verify our judgment of its character. Much less was it within our conception of the assignment to attempt the assembly of any concrete data not now available. Nor were we charged with making new applications of such data as we now have. In Chapter V we confine ourselves simply to outlining certain projects of inquiry which in our judgment should prove fruitful, and the more fruitful so far as the statistics of the industry's operations are made more adequate and reliable by sup- plementing existing compilations along the lines suggested in Chapter IV. -
Oil Shale and Tar Sands
Fundamentals of Materials for Energy and Environmental Sustainability Editors David S. Ginley and David Cahen Oil shale and tar sands James W. Bunger 11 JWBA, Inc., Energy Technology and Engineering, Salt Lake City, UT, USA 11.1 Focus 11.2 Synopsis Tar sands and oil shale are “uncon- Oil shale and tar sands occur in dozens of countries around the world. With in-place ventional” oil resources. Unconven- resources totaling at least 4 trillion barrels (bbl), they exceed the world's remaining tional oil resources are characterized petroleum reserves, which are probably less than 2 trillion bbl. As petroleum becomes by their solid, or near-solid, state harder to produce, oil shale and tar sands are finding economic and thermodynamic under reservoir conditions, which parity with petroleum. Thermodynamic parity, e.g., similarity in the energy cost requires new, and sometimes of producing energy, is a key indicator of economic competitiveness. unproven, technology for their Oil is being produced on a large commercial scale by Canada from tar sands, recovery. For tar sands the hydrocar- and to a lesser extent by Venezuela. The USA now imports well over 2 million barrels bon is a highly viscous bitumen; for of oil per day from Canada, the majority of which is produced from tar sands. oil shale, it is a solid hydrocarbon Production of oil from oil shale is occurring in Estonia, China, and Brazil albeit on called “kerogen.” Unconventional smaller scales. Importantly, the USA is the largest holder of oil-shale resources. oil resources are found in greater For that reason alone, and because of the growing need for imports in the USA, quantities than conventional petrol- oil shale will receive greater development attention as petroleum supplies dwindle. -
The Petroleum Find: Its Possible Impact on the Agricultural Sector In
TheLawson Petroleum et al: Petroleum find: Find: possible Its impact Possible on the agricultural Impact sector in on Ghana the Agricultural45 Sector in Ghana: The Role of Soil Science I. Y. D. Lawson*, S. G. K. Adiku and S. K. A. Danso Department of Soil Science, School of Agriculture, College of Basic and Applied Sciences, University of Ghana, Legon, Accra *Corresponding author; E-mail: [email protected] Abstract The opportunities the petroleum industry present comes with challenges that Ghana needs not to overlook. It is globally accepted that petroleum find is usually associated with the economic situation dubbed “Dutch disease”, whereby, the over-expectation of rewards from oil revenues diminish the attention paid to other sectors of the economy. The paper examines the potential impacts of the petroleum discovery in Ghana on its agricultural sector and the role of soil science in minimizing adverse effects. The agricultural sector is likely to lose its recognition as the backbone of the economy due to the discovery of petroleum in commercial quantities and having recently been overtaken by the service sector. An impact of the oil find could be the high risk of the agricultural sector losing its potential labour force to the petroleum industry. There is also the fear of neglect of the agricultural sector in future similar to what happened in some countries that experienced petroleum boom. Oil spillage could pollute farmlands, and gas flaring without temperature or emission control could pollute the air and release unacceptably high levels of carbon dioxide and carbon monoxide into the atmosphere. There could be resettlement of farming communities and farmlands because of the fear of spillage and destruction of lands by oil and gas operations. -
Statoil ASA Statoil Petroleum AS
Offering Circular A9.4.1.1 Statoil ASA (incorporated with limited liability in the Kingdom of Norway) Notes issued under the programme may be unconditionally and irrevocably guaranteed by Statoil Petroleum AS (incorporated with limited liability in the Kingdom of Norway) €20,000,000,000 Euro Medium Term Note Programme On 21 March 1997, Statoil ASA (the Issuer) entered into a Euro Medium Term Note Programme (the Programme) and issued an Offering Circular on that date describing the Programme. The Programme has been subsequently amended and updated. This Offering Circular supersedes any previous dated offering circulars. Any Notes (as defined below) issued under the Programme on or after the date of this Offering Circular are issued subject to the provisions described herein. This does not affect any Notes issued prior to the date hereof. Under this Programme, Statoil ASA may from time to time issue notes (the Notes) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined below). The Notes may be issued in bearer form or in uncertificated book entry form (VPS Notes) settled through the Norwegian Central Securities Depositary, Verdipapirsentralen ASA (the VPS). The maximum aggregate nominal amount of all Notes from time to time outstanding will not exceed €20,000,000,000 (or its equivalent in other currencies calculated as described herein). The payments of all amounts due in respect of the Notes issued by the Issuer may be unconditionally and irrevocably guaranteed by Statoil A6.1 Petroleum AS (the Guarantor). The Notes may be issued on a continuing basis to one or more of the Dealers specified on page 6 and any additional Dealer appointed under the Programme from time to time, which appointment may be for a specific issue or on an ongoing basis (each a Dealer and together the Dealers). -
Press Release
Press Release First quarter 2021 results With results of more than $3 billion, Total fully benefits from rebound in hydrocarbon prices LNG and renewables represent one-third of results Change Change 1Q21 1Q20 1Q19 vs 1Q20 vs 1Q19 Oil price - Brent ($/b) 61.1 50.1 +22% 63.1 -3% Average price of LNG ($/Mbtu) 6.1 6.3 -4% 7.2 -16% Variable cost margin - Refining Europe, VCM ($/t) 5.3 26.3 -80% 33.0 -84% Adjusted net income (Group share)1 - in billions of dollars (B$) 3.0 1.8 69% 2.8 +9% - in dollars per share 1.10 0.66 +68% 1.02 +8% DACF1 (B$) 5.8 4.3 +34% 6.3 -8% Cash Flow from operations (B$) 5.6 1.3 x4.3 3.6 +54% Net income (Group share) of 3.3 B$ in 1Q21 Net-debt-to-capital ratio of 19.5% at March 31, 2021 vs. 21.7% at December 31, 20202 Hydrocarbon production of 2,863 kboe/d in 1Q21, a decrease of 7% compared to 1Q20 First 2021 interim dividend set at 0.66 €/share 2 Paris, April 29, 2021 - The Board of Directors of Total SE, meeting on April 28, 2021, under the chairmanship of Chairman and Chief Executive Officer Patrick Pouyanné, approved the Group's first quarter 2021 accounts. On this occasion, Patrick Pouyanné said: « In the first quarter, the Group fully benefited from rising oil and gas prices, up 38% and 24%, respectively quarter-to- quarter, and its strategy to grow LNG and Renewables and Electricity. -
Future Strategies for Promoting Tourism and Petroleum Heritage in Khuzestan Province, Iran
Future strategies for promoting tourism and petroleum heritage in Khuzestan Province, Iran Sahar Amirkhani, Neda Torabi Farsani and Homa Moazzen Jamshidi Abstract Sahar Amirkhani and Purpose – Industrial tourism not only strives to preserve industrial heritage, but can also be a strategy for being Neda Torabi Farsani are both familiar with the history of industry and attracting tourists to new destinations. This paper examines the issue of based at the Department of promoting petroleum industrial tourism in the case of Khuzestan, Iran. The research aims at determining Museum and Tourism, Art appropriate strategies for promoting petroleum industrial tourism. University of Isfahan, – Design/methodology/approach The data were analysed through a strengths, weaknesses, opportunities, Isfahan, Iran. and threats (SWOT) model. Homa Moazzen Jamshidi is Findings – The results revealed the competitive strategy as the best. Lastly, strategies such as: concentric based at the Department of diversification, joint venture strategy, conglomerate diversification and horizontal diversification were proposed Economics and Arts as key solutions. The results support the view that establishing an exploratory ecomuseum in the territory of Entrepreneurship, Art Khuzestan Province can be a suitable concentric diversification strategy towards petroleum industrial sustainable tourism in the future. University of Isfahan, Originality/value – The main originality of this paper includes linking tourism with the petroleum (oil and natural Isfahan, Iran. gas) industry -
LA Petroleum Industry Facts
February 2000 Louisiana Petroleum Public Information Series No.2 Industry Facts 1934 First oil well of commercial quantities Deepest producing well in Louisiana: Texaco-SL urvey discovered in the state: 4666-1, November 1969, Caillou Island, The Heywood #1 Jules Clement well, drilled near Terrebonne Parish, 21,924 feet total depth Evangeline, Louisiana, in Acadia Parish, which S was drilled to a depth of approximately 1,700 Existing oil or gas fields as of December 31, feet in September 1901 (counties are called 1998: 1,775 Reserves “parishes” in Louisiana). Crude oil and condensate oil produced from First oil field discovered: Jennings Field, Acadia 1901 to 1998: 16,563,234,543 barrels Parish, September 1901 Crude oil and condensate produced in 1998: First over-water drilling in America: 132,376,274 barrels Caddo Lake near Shreveport, Louisiana, (Source: Louisiana Department of Natural Resources.) circa 1905 Natural gas and casinghead gas produced from First natural gas pipeline laid in Louisiana: 1901 to 1998: 144,452,229,386 thousand Caddo Field to Shreveport in 1908 cubic feet (MFC) Largest natural gas field in Louisiana: Natural gas produced in 1998: 1,565,921,421 Monroe Field, which was discovered in 1916 thousand cubic feet (MFC) (Source: Louisiana Department of Natural Resources.) Number of salt domes: 204 are known to exist, eological 77 of which are located offshore Dry Natural Gas Proven Reserves 1997 North Louisiana 3,093 billion cubic feet Parishes producing oil or gas: All 64 of South Louisiana 5,585 billion cubic feet Louisiana’s -
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending September 17, 2021 U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the week ending September 17, 2021 which was 1.0 million barrels per day more than the previous week’s average. Refineries operated at 87.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.5 million barrels per day. U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 0.7 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 18.9% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.1 million barrels per day, and distillate fuel imports averaged 184,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.5 million barrels from the previous week. At 414.0 million barrels, U.S. crude oil inventories are about 8% below the five year average for this time of year. Total motor gasoline inventories increased by 3.5 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories decreased by 2.6 million barrels last week and are about 14% below the five year average for this time of year. -
Program Review
Post-Audit Review For Occupational Programs Implemented Under the Provisions of Series 37 West Virginia Council for Community and Technical College Education Institution: _Pierpont Community & Technical College_ Program (Degree and Title): _CAS and AAS Petroleum Technology_ I. INTRODUCTION The Associate in Applied Science (AAS) degree in Petroleum Technology provides curriculum to prepare students for mid-level positions in the petroleum industry as technicians working in gas and oil production, gas transmission, field services, and drilling. This is a cooperative program with the West Virginia Petroleum Industry and WV Northern CC. General education and specific applied technical courses provide students with a variety of educational activities and experiences through lecture, discussion, learning activities and realistic hands-on laboratory assignments. Embedded within the AAS program is a 30 credit hour Certificate in Applied Science (CAS) degree, that is completed within the first two semesters of the AAS program. The programs attracts approximately double the number of non-tradition students when compared to traditional aged (less than 24) students. These open enrollment programs build teamwork and provide a learning environment that enhances future employment. In addition, students have the option of completing a paid summer internship with various West Virginia petroleum companies between their freshman and sophomore year, further enhancing their skills and knowledge in real-world workplace scenarios. Although the required wage minimum for an internship position is $10 an hours, wages have ranged from $11 to $16 an hour. The US DOL predicts from 2012-2022 a 15% growth in the field nationwide. Pierpont has a 2+2 articulation agreement with Alderson Broaddus (A-B), all 60 credit hours are accepted into the Petroleum Management program at A-B. -
Study of Selected Petroleum Refining Residuals
STUDY OF SELECTED PETROLEUM REFINING RESIDUALS INDUSTRY STUDY Part 1 August 1996 U.S. ENVIRONMENTAL PROTECTION AGENCY Office of Solid Waste Hazardous Waste Identification Division 401 M Street, SW Washington, DC 20460 TABLE OF CONTENTS Page Number 1.0 INTRODUCTION .................................................... 1 1.1 BACKGROUND ............................................... 1 1.2 OTHER EPA REGULATORY PROGRAMS IMPACTING THE PETROLEUM REFINING INDUSTRY ............................. 2 1.3 INDUSTRY STUDY FINDINGS .................................. 3 2.0 INDUSTRY DESCRIPTION ........................................... 8 2.1 PETROLEUM REFINING INDUSTRY PROFILE ..................... 8 2.2 INDUSTRY STUDY ........................................... 10 2.2.1 Site Selection ......................................... 11 2.2.2 Engineering Site Visits .................................. 13 2.2.3 RCRA §3007 Questionnaire .............................. 13 2.2.4 Familiarization Sampling ................................ 14 2.2.5 Record Sampling ....................................... 15 2.2.6 Split Samples Analyzed by API ........................... 20 2.2.7 Synthesis ............................................. 20 3.0 PROCESS AND WASTE DESCRIPTIONS ............................... 21 3.1 REFINERY PROCESS OVERVIEW .............................. 21 3.2 CRUDE OIL DESALTING ...................................... 25 3.2.1 Process Description ..................................... 25 3.2.2 Desalting Sludge ....................................... 26 3.3 HYDROCRACKING -
Facts About Offshore Oil and Gas Exploration in South Australia
The Facts about offshore oil and gas exploration in South Australia Ocean Epoch, offshore drilling rig at Sophie Jane 1, south east South Australia How offshore exploration is regulated The National Offshore Petroleum NOPSEMA is Australia’s first national Safety and Environmental regulator for health and safety, well Management Authority (NOPSEMA) integrity and environmental management was established on 1 January 2012. for offshore oil and gas operations. LEGISLATION & REGULATIONS NATIONAL: SOUTH AUSTRALIAN: • Environment Protection and • Oshore Petroleum and • Oshore Petroleum and • Petroleum (Submerged Biodiversity Conservation Act Greenhouse Gas Storage Greenhouse Gas Storage Lands) Act 1982 (SA) 1999 (Environment) Regulations (Regulatory Levies) 2009 Act 2003 • Petroleum and • Oshore Petroleum and Geothermal Energy Act Greenhouse Gas Storage • Oshore Petroleum and • Oshore Petroleum and 2000 (SA) Act 2006 Greenhouse Gas Storage Greenhouse Gas Storage (Resource Management (Regulatory Levies) • Oshore Petroleum and and Administration) Regulations 2004 Greenhouse Gas Storage Regulations 2011 (Safety) Regulations 2009 Holders must meet requirements for safety, well integrity and Regular maintenance, environmental sampling, monitoring management in and reporting accordance with relevant industry standards PERMIT Early engagement and ongoing targeted Sucient nancial consultation assurance to meet the throughout the lifetime costs, expenses and of the operation liabilities that may arise REGULATORY COMPLIANCE AND ENFORCEMENT • Prohibit specic -
OPEC Annual Statistical Bulletin 2019 1 Contents
2019 OPEC Annual Statistical Bulletin Organization of the Petroleum Exporting Countries 1965 – 2019 th edition 54 Team for the preparation of the OPEC Annual Statistical Bulletin Secretary General Editorial Team Chairman of the Editorial Board Head, Public Relations and Information Department Mohammad Sanusi Barkindo Hasan Hafidh Director, Research Division Editor Ayed S. Al-Qahtani Maureen MacNeill, Mathew Quinn Project Leader Coordinator, Design and Production Head, Data Services Department Carola Bayer Adedapo Odulaja Senior Production Assistant Coordinator, Statistics Team Diana Lavnick Hossein Hassani Graphic Designer Statistics Team Tara Starnegg Pantelis Christodoulides, Klaus Stöger, Mohammad Sattar, Mihni Mihnev, Justinas Pelenis, Ksenia Gutman Coordinator, IT Development Team Mohamed Mekerba IT Development Team Vedran Hrgovcic, Zairul Arifin Online Annual Statistical Bulletin 2019: asb.opec.org Download now: Smart App for OPEC Annual Statistical Bulletin iOS Android Questions on data Data queries: [email protected]. Advertising The OPEC Annual Statistical Bulletin now accepts advertising. For details, please contact the Head, PR and Information Department, at the following address: Organization of the Petroleum Exporting Countries Helferstorferstrasse 17, A-1010 Vienna, Austria Tel: +43 1 211 12/0 Fax: +43 1 216 43 20 Advertising: [email protected] Website: www.opec.org Photographs Courtesy OPEC. © 2019 Organization of the Petroleum Exporting Countries ISSN 0475-0608 Contents Foreword 5 Key messages 6 Tables Page Page Section