...According to the American Petroleum Institute, the industry is divided into sectors to cover all the procedures involved in finding, producing, processing, transporting and marketing oil and gas. These sectors include: 1. Upstream: involved in exploration and production of oil and gas using advanced geology to high-tech offshore drilling platforms 2. Downstream: involved in refining and marketing. It also includes the transportation of products using tankers from local terminals to service stations and ownership and operations in retail outlets. 3. Pipeline: involved in the movement of oil from ocean platforms and wells on land to refineries and finally to terminals where they are released to retail outlets 4. Marine: comprises all aspects of petroleum and its products movement by water, including port operations, maritime fighting and oil spill response. 5. Service and supply: includes companies that provide supplies, services, design and engineering support for exploration, drilling, refining and other operations. As with all other industries, there exist features that are peculiar to the petroleum. Common amongst these as identified in the 2007 UNCTAD report are: t finite supply of the product as it is non-renewable t differences in cost between production sites as a result constraints in technology, environment, etc that may exist in one site and not in the other t the industry is capital intensive and as such the risk level is high t in terms of demand and supply...
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...British Petroleum is without a doubt one of the world’s most profitable companies of all time. British Petroleum or (BP) is the leading oil extraction company worldwide, therefore substantially affecting millions of people and companies. Bp gains its profits by transforming the oil it retains from around the world into the biggest commodity around; petrol, known as gasoline. In addition, Bp is also a major supplier of low carbon energy generated naturally by windmills and other means across America. Thus, satisfying the request that many American consumers have brought up in a publicized meeting regarding alternate means of energy. Bp, being one of the leading companies in the world affects an extremely wide base of, investors, retailers, dealers, and stock holders, not to mention the ninety six thousand employees currently working around the clock at their various locations. Many consumers assume that Bp with all its power and wealth couldn’t possible care what it is doing to the environment or economy; however, this couldn’t be any further from the truth. According to www.bp.com, Bp is currently partnered with over 13 major companies researching and utilizing Biofuel technologies; Advanced Biofuels Association, American Petroleum Institute, and Biotechnology Industry Organization, are just a few. With a net value of about seventy billion, Bp has many shares/stockholders and cares nothing more than making these valued customers happy with their decision to invest in...
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...President and Chief Executive Officer, Energistics RANDY W. CLARK is President and Chief Executive Officer of Energistics. He has more than 25 years of experience in the oil and gas industry in a variety of different roles and positions with industry companies, including 10 years with Baker Hughes in Houston. Before joining Energistics, Clark was Senior Vice President of cc-hubwoo/Trade-Ranger, the world’s largest electronic marketplace for indirect goods, whose members include many major oil and gas operating companies such as Shell, Total, Statoil, and ConocoPhillips. Additionally, Clark has been active in many global ebusiness standards development efforts and is immediate past-chair of the Petroleum Industry Data eXchange, the e-commerce subcommittee of the American Petroleum Institute. Clark’s experience has included oil and gas production-facility design and project management, purchasing management, business process re-engineering, new product development, data and information standards development, and e-business strategy and development. He earned BS and MBA degrees from Texas universities and he holds professional certification in new product development from the Product Development and Management Association. Talent & Technology » 15 S tandardization of data and information exchange is one of the most problematic, yet potentially highest value, issues facing the upstream oil and gas industry. Given the industry’s current strong market position...
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...these innovations include a decrease in the amount of oil imported from foreign oil exporters and an increase of domestic shale oil discoveries throughout America. As technology continuously modernizes, the efficiency of American shale oil extractions increase. America is hypothesized to have the ability to supply all its own energy by 2030. If America continues to reduce their petrochemical consumption and reliance on foreign oil, this energy independent milestone will be an approaching, feasible possibility. In this presentation, I will illustrate the constant momentum toward energy independence and how achieving autonomy introduces a surplus of economical possibility that has neglected to exist in previous American history. Rationale The Unites States, along with every other country, would benefit from being as energy independent as possible from foreign oil exporters. Currently, the United States reliance on OPEC (Organization of the Petroleum Exporting Counties) causes them to be highly susceptible to disturbances in these counties oil industry. Energy independence would result in economical stability and security, while diminishing the uncertainty that lies in the dependence of major oil exporters. There exist an on average increase of petroleum oil prices...
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...the condition in which fluids of petroleum flow into marine habitats (IMO 2005). Water pollution is one of the types of pollutions known to be very notorious in controlling. Although oil products are insoluble in water, the method of evacuating oil spills from the water surface, is never an easy task. When oil spills occur, the layer of petroleum formed on the surface of the water leads to blockage of the oxygen mixing with the water, to support marine life. Consequently, the marine life is affected, and if no control measures taken in time, it can lead to mass destruction to the marine life. In history, many oil spills have occurred with varied intensity. The accident of British Petroleum is one of the notable oil spills in the history. The BP oil spill that occurred back in April, 2010 in the Mexico’s Gulf is among the oil spills that caused a massive damage to the marine life. According to Ocean Portal Team (The Ocean Portal Team 1), the BP oil spill was ranked among the worst ever oil spills in the history. As a result of this accident, the British Petroleum management has been very vigilant in their businesses, and they have sought to assure everyone that they are committed to avoiding such occurrences in the future. BP being not an American firm, it has attempted to convince the Americans that indeed its management had felt the impact of the spill as any citizen of the nation would. In quest to achieve this objective, British Petroleum management produced a video commercial...
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...years, petroleum-derived plastics and metals have taken the spotlight. The petroleum industry has gained a large market share in many industries due to its cheap cost, abundance and availability. Advancements in modern technology have proven that wood can be a viable and sustainable material for many different industries with an infinitesimal environmental impact; furthermore, public valuation and education are the largest problems facing the North American wood products industry. Background and Details. When people think of wood products the first things that might come to mind are lumber and paper....
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...Occidental Petroleum and Valero Energy Corporations Columbia College Introduction Occidental Petroleum Corporation (Oxy) and Valero Energy Corporation (Valero) are both international oil and gas companies, with Valero also specializing in marketing of transportation fuels, petrochemical products, and power. Each company has made an international footprint on the earth by extracting billions of gallons of oil and petroleum products worldwide. Oxy was founded in California in 1920, but did not make its first major discovery until 1961. It began operations in the Middle East over 40 years ago, which now accounts for more than one third of its production. In 1983, Oxy opened additional operations in Latin America. Since then, more than one billion barrels of oil have been produced at its Caño Limón location in Columbia. Today, nearly two-thirds of its production comes from the United States, with specific operations located in California, Colorado, Kansas, North Dakota, Oklahoma, New Mexico, and Texas (Occidental Highlights, 2013). Valero was created in 1980 and is headquartered in San Antonio, Texas. In 1997, it began adding more refineries and today stands at a total of 16. Valero expanded into the retail and wholesale markets and now supplies 7,300 outlets, to include the brands of Diamond Shamrock, Shamrock and Beacon, Ultramar, and Texaco in the United States, the Caribbean, Canada, the United Kingdom, and Ireland (Valero History, 2013). Occidental Petroleum and...
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...Industrialization Elizabeth Hughes American InterContinental Abstract This paper gives two descriptions of developments of industrialization that positively affect American lives. It talks about the negatively effects that the developments of industrialization had on American and it analysis whether the industrialization was generally beneficial or detrimental to American lives and the history of the United States. Industrialization •Description of two (2) developments of industrialization that positively affected American lives or the United States in general Since day one of the industrial era, there have been many different contributions that have been revised for present day operations. The industrial market started back in the middle Ages when the people had swords made of iron, carbon, and other metals. The two of the major developments that will be the area of interest are technology made from of natural resources and transportation and communication. In the 1850s inventors in England and America discovered a cheaper way-called the Bessemer process after the British developer-to convert large quantities of iron into steel (Davidson, n.d.). The conversion of iron to steel grew rapidly; it was cheaper and could hold much more weight. By the 1900s, the US was the largest, cheapest producer of steel, because of the high demand of the resource; it seemed that the demand for steel was inexhaustible. Today steel is being used for railroads, bridge beams, and...
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...EN1420 Matthew L. Cole Abstract Marijuana legalization offers an advantage to the United States. Taxation would create much needed revenue just like alcohol and tobacco does for the United States. This taxation would create a quality control over the product. For the first time 52 percent of Americans support legalization of marijuana. Since 1996 over 12 million people has been arrested for marijuana. Over 3 billion is spent yearly on the war on pot which has done little or nothing to keep it out of the hands of youth. Surveys conducted on 2010 on Drug Use and Health says that 17.4 million of Americans used marijuana 30 days prior the survey. Education is the key. Many had been asking questions about marijuana because is currently an illegal drug for casual consumption yet, many Americans are not well informed when it comes to the medicinal use of marijuana. Currently twenty states and the District of Columbia use marijuana for medicinal purposes and two states Washington and Colorado legalized marijuana for occasional use. Reasons for the United States to Legalize Marijuana Marijuana use in the United States has been rising in recent years especially among teens. Today, many Americans think it is only a matter of time before marijuana becomes new trend just like tobacco was between the 1930s and 1980s. What is Marijuana? Marijuana is an herb that contains chemicals called cannabinoids that affect the central nervous system. The highest concentration of these cannabinoids...
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...Petrochemicals and their byproducts, such as dioxin, are known to cause an array of serious health problems, including cancers and endocrine disruption. Of the more than 75,000 chemicals registered with the Environmental Protection Agency, only a fraction have gone through complete testing to find out whether they might cause problems for human health. Many that are produced in enormous quantities have never been tested at all. Usually, it takes dramatic episodes of workplace injuries or wildlife poisonings, combined with rigorous scientific proof of harm and public outcry, before the government will act to restrict or ban any chemical. And that is no accident. The current regulatory system allows synthetic chemicals into our lives unless proven beyond doubt to be dangerous. Terms Dioxins are not intentionally manufactured. They are unintentionally formed as byproducts of chemical processes involving chlorine, such as the manufacture of pesticides and the bleaching of paper. The manufacture and incineration of plastics such as polyvinyl chloride (PVC, commonly used in consumer product packaging and medical devices) is another major source of dioxin. Two of the most serious health effects of dioxin exposure are cancer and endocrine disruption. The endocrine system is a complex network of glands and hormones that regulate many of the body's functions including growth, development, and maturation, and the way various organs operate. The endocrine glands –- including the pituitary...
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...decades to come after the mistakes made by the Deepwater Horizon’s crew that day. British Petroleum, the oil giant responsible for the disaster, left the American citizens of the Gulf Coastal region terrified and helpless. There were seventeen men injured in the explosion and eleven unaccounted for presumed dead, while hundreds of thousands of gallons of oil leaked into the Gulf of Mexico (BP Oil). The oil spill caused by the explosion may be recorded as one of the most catastrophic oil spills in history. This disaster served as a wake up call for the United States to seriously consider producing a well defined set of regulations for drilling in open waters. British Petroleum, although being originally founded in 1909, did not become one of the major competing oil companies until 1995 when John Browne became CEO of the company. Since this time BP has become a company that would violate laws involving regulation and cut numerous corners to create greater profit. When compared to Chevron and other oil companies, British Petroleum has been accused of 518 or more than two times as many safety violations than any other company. Also between the years 2000 and 2009 the amount of oil BP spilled into the Gulf of Mexico equated to more than the amount Shell spilled, while Shell’s production from this region was twice BP’s (Lustgarten). Although most Americans may not have known, British Petroleum has a terrible track record with the with the law, as retired EPA attorney, Jeanne Pascal...
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...Growing Petroleum Dependency - Micheal T. Klare “Only by tracing the evolution of U.S. oil policy and weighing its consequences for the future can we acquire the knowledge to do what it takes to sever the links between blood and oil. It is to that end that I have written this book.” I. The Dependency Dilemma: Imported Oil and National Security * Our existing policies seem to rest on the delusion that an uninterrupted supply of abundant and cheap energy will be ours forever, despite all the evidence stating otherwise * There are four key trends that will dominate the future of American energy behavior: * An increasing need for imported oil * A shift towards unstable and unfriendly suppliers in dangerous parts of the world * A greater risk of anti-American violence * Rising competition for a diminishing supply pool * “Without a decisive change in policy the U.S. will sink deeper and deeper into its dependence on foreign oil, with all the costs—including those measured in human blood” II. Lethal Embrace: The American Alliance with Saudi Arabia * The Roosevelt administration was concerned about the security implication of declining U.S. oil reserves; this prompted them to believe that the nation should conserve its domestic reserves and use more oil from foreign sources * Government officials decided to pursue a “more aggressive foreign oil policy aimed at assuring access to petroleum overseas” ...
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...Fossil fuels consist of petroleum, coal, and natural gas. Fossil fuels were formed from the remains of living organisms that lived on the planet Earth millions of years ago. Petroleum is created from the remains of sea creatures that are the size of a pin head called Diatoms. Diatoms store energy from converted sunlight. The diatoms fell to the bottom of the ocean and were covered by sediment and layers of rock. The pressure and heat from the other layers of rock and sediment caused the carbon in the diatoms to breakdown into oil. Pockets of oil were formed as the earth moved and changed (Energy Story, 2011). Coal is created from plant remains that lived millions of years ago. Coal contains carbon, hydrogen, oxygen, nitrogen, and sulfur (Energy Story, 2011). Energy for coal originated from sunlight that was stored inside the plants. As plants and trees died, their remains sank into boggy areas and were covered by other layers of mud, swamp, and rock. These layers created peat, a soggy dense mixture of mud and dead plants. Over time the peat was buried by layers of sand, clay, and other minerals. As the earth changed, the deposits of peat were buried deeper into the earth. The pressure and heat from being buried changed the material into coal (American Coal Foundation, 2005). For the future of petroleum, unless humans stop drilling and removing the substance from the earth, the supply of oil will diminish. Petroleum could become extinct. It would...
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...consumed in all parts of the world. The product has experienced a consistent increase in the international prices for the last twenty years. All industries in any given country depend on oil for the operations. The price of oil would have an impact on all other sector of the economy. This has seen this product considered very precious. The countries that produce oil have formed an organization that would help protect this industry in the world. OPEC (Organization of Petroleum Exporting Countries) was formed as a way of ensuring that oil-producing country got maximum benefit from this product. This has made business environment for this product very favorable. This organization protects the rights of all member states in the international market. This has helped stabilize the international oil prices to the favor of the companies in this industry. However, some challenges have been experienced in the recent past by oil producing countries and the leading exporters of oil in the world. Energy generated from most of the petroleum products has been considered the leading pollutant of air (Mead & Andrews, 2009). The smoke from heavy tracks, production machines and other heavy tools...
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...Oil (Petroleum) Price Index - Includes Dated Brent, West Texas Intermediate, And The Dubai Fateh › See all The World indicators Detailed Analysis for Year: 2010 › Change year Full Dataset: from 1980 to 2016 Dataset updated: 1st August 2011 Datasource: International Monetary Fund (IMF) National or Regional Currency: US Dollar Currency Symbol: US$ The APSP denotes an equally weighted average of three crude oil spot prices - West Texas Intermediate (WTI), Dated Brent (Brent), and Dubai Fateh (Dubai). The prices of these crude oils tend to move together according to the inequality WTI > Brent > Dubai. Their price differentials reflect differences in American Petroleum Institute (API) measure of gravity, sulfur content, and overall weight. The WTI spot price refers to the physical delivery price for a barrel of WTI deliverable to Cushing, Oklahoma. The WTI price is frequently mentioned in the financial press, and is often described as the 'headline' oil price. The Brent spot price is the physical delivery price for a barrel of either Dated Brent (UK), Forties (Norway), or Oseberg (Norway) to Sullom Voe, United Kingdom (in the Shetland Islands). The Dubai Fateh spot price refers to the physical price for a barrel of Dubai Fateh deliverable in the Arabian Gulf at Dubai, United Arab Emirates. Crude Oil (Petroleum) Price Index - Includes Dated Brent, West Texas Intermediate, And The Dubai Fateh Statistics for The World, Year 2010 - In Detail Crude Oil (Petroleum) Price...
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