Investing In Oil

From Wikipedia, the free encyclopedia

OPEC (redirect from Organization of Petroleum Exporting Countries)

efficient and regular supply of petroleum to consuming nations, and a. though not major oil-exporting countries, joined the latter grouping.

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1980s oil glut

prices by the Organization of Petroleum Exporting Countries and. of crude causes tighter development budgets in some oil-exporting nations.

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Organization of Arab Petroleum Exporting Countries

The Organization of Arab Petroleum Exporting Countries or OAPEC is a multi-. membership to countries whose main export was oil would exclude.

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Fossil fuel exporters (section Petroleum)

Petroleum. natural gas. and coal are exported from various source countries to countries reliant on these fossil fuels. Petroleum.

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Petroleum (section Export)

Petroleum (L. petroleum, from petra (rock) + oleum (oil) or crude oil is a. quantity of oil exported to the world market (Export Land Model.

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List of Secretaries General of OPEC

Below is a list with each Secretary General of Organization of Petroleum Exporting Countries (OPEC). The first two Secretaries General.

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1973 oil crisis (redirect from Petroleum crisis of 1973)

when the members of Organization of Arab Petroleum Exporting Countries or the OAPEC. for curbs on their oil exports to various consumer.

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National Iranian Oil Company (section Strategic petroleum reserves)

Having provided the domestic refineries and manufacturing plants with crude oil required for the petroleum products, the NIOC exports its.

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Petroleum industry in Iran

the total annual value of both exports and foreign currency earnings. petroleum-based exports, which are more profitable than raw materials.

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Peak oil

Peak oil is the point in time when the maximum rate of global petroleum extraction. that after peak oil petroleum exporting countries will be.

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2003 world oil market chronology

January 12: The Organization of Petroleum Exporting Countries (OPEC. a week because of bottlenecks at export terminals as Venezuelan state.

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Balikpapan

Indonesia. in the East Kalimantan province, a resource-rich region well known for its timber. mining. and petroleum export products.

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Price of petroleum

The price of petroleum as quoted in news generally refers to the spot price per. oil-exporting countries adopted a market-linked pricing.

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Railroad Commission of Texas

safety in the liquefied petroleum gas industry, and surface coal and uranium mining (despite its name, it no longer regulates railroads).

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KiNEx

KiNEx (Kirishineftekhimexport, Russian acronym for ‘Kirishi petroleum chemical export’) is a Russia n joint stock company, subsidiary of.

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Economic history of Ecuador

In 1985 Ecuador earned over US$1.8 billion in revenue from petroleum exports, two-thirds of Ecuador’s export revenue that year.

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OPEC Fund for International Development

development finance institution established in 1976 by the Member Countries of the Organization of the Petroleum Exporting Countries (OPEC).

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Petroleum Training Institute

Petroleum Training Institute (P.T.I.) in Effurun. Delta State was established in 1973 by the Federal Government of Nigeria as a.

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Rilwanu Lukman

government before becoming Secretary General of OPEC (Organization of the Petroleum Exporting Countries) from 1 January 1995 to 31 December 2000.

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Petrodollar

earned by a country through the sale of petroleum The term was coined by Ibrahim. which refers to the currencies of petroleum exporting nations.

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United States Oil

From Wikipedia, the free encyclopedia

United States Oil (NYSE: USO) is an exchange-traded fund (ETF) that tracks various oil investments. This economics or finance-related article is a stub. You can help Wikipedia by expanding it.

The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil. The fund is nondiversified.

West Texas Intermediate

From Wikipedia, the free encyclopedia

(WTI), also known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. It is a light (low density) and sweet (low sulfur) crude oil. It is the underlying commodity of New York Mercantile Exchange’s oil futures contracts. The price of WTI is often referenced in news reports on oil prices, alongside the price of Brent crude from the North Sea. Other important oil markers include the Dubai Crude and the OPEC Reference Basket.

Characteristics

WTI is a light crude oil, with an API gravity of around 39.6 and specific gravity of about 0.827, which is lighter than Brent crude. It contains about 0.24% sulfur and is thus rated as a sweet crude oil (having less than 0.5% sulfur), sweeter than Brent which has 0.37% sulfur. WTI is refined mostly in the Midwest and Gulf Coast regions in the U.S. since it is high quality fuel and is produced within the country.

Historical price data for WTI can be found at a website by the Energy Information Administration of the Department of Energy. It is listed as WTI, Cushing, Oklahoma.

Historically, it has traded closely to Brent and the OPEC basket.

Petroleum

From Wikipedia, the free encyclopedia

Petroleum (L. petroleum, from Greek: petra (rock) + Latin: oleum (oil)[1]) or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth’s surface. Petroleum is recovered mostly through oil drilling. This latter stage comes after the studies of structural geology (at the reservoir scale), sedimentary basin analysis, reservoir characterization (mainly in terms of porosity and permeable structures).[2][3] It is refined and separated, most easily by boiling point, into a large number of consumer products, from petrol and kerosene to asphalt and chemical reagents used to make plastics and pharmaceuticals.[4] Petroleum is used in manufacturing a wide variety of materials.[4]

The term petroleum was found (in the spelling petraoleum) in tenth-century Old English sources.[5] It was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, also known as Georgius Agricola.[6] In the 19th Century, the term petroleum was frequently used to refer to mineral oils produced by distillation from mined organic solids such as cannel coal (and later oil shale), and refined oils produced from them; in the United Kingdom, storage (and later transport) of these oils were regulated by a series of Petroleum Acts, from the Petroleum Act 1862 c. 66 onward.

Royalty trust

From Wikipedia, the free encyclopedia

A royalty trust is a type of corporation, mostly in the United States or Canada, usually involved in oil and gas production or mining. However, unlike most corporations, its profits are not taxed at the corporate level provided a certain high percentage (e.g. 90%) of profits are distributed to shareholders as dividends. The dividends are then taxed as personal income. This system, similar to real estate investment trusts, effectively avoids the double taxation of corporate income.

Peak oil

From Wikipedia, the free encyclopedia

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells. The aggregate production rate from an oil field over time usually grows exponentially until the rate peaks and then declinessometimes rapidlyuntil the field is depleted. This concept is derived from the Hubbert curve, and has been shown to be applicable to the sum of a nations domestic production rate, and is similarly applied to the global rate of petroleum production. Peak oil is often confused with oil depletion; peak oil is the point of maximum production while depletion refers to a period of falling reserves and supply.

M. King Hubbert created and first used the models behind peak oil in 1956 to accurately predict that United States oil production would peak between 1965 and 1970.[1] His logistic model, now called Hubbert peak theory, and its variants have described with reasonable accuracy the peak and decline of production from oil wells, fields, regions, and countries,[2] and has also proved useful in other limited-resource production-domains. According to the Hubbert model, the production rate of a limited resource will follow a roughly symmetrical logistic distribution curve (sometimes incorrectly compared to a bell-shaped curve) based on the limits of exploitability and market pressures.

Some observers, such as petroleum industry experts Kenneth S. Deffeyes and Matthew Simmons, believe the high dependence of most modern industrial transport, agricultural, and industrial systems on the relative low cost and high availability of oil will cause the post-peak production decline and possible severe increases in the price of oil to have negative implications for the global economy. Predictions vary greatly as to what exactly these negative effects would be. If political and economic changes only occur in reaction to high prices and shortages rather than in reaction to the threat of a peak, then the degree of economic damage to importing countries will largely depend on how rapidly oil imports decline post-peak.

Optimistic estimations of peak production forecast the global decline will begin by 2020 or later, and assume major investments in alternatives will occur before a crisis, without requiring major changes in the lifestyle of heavily oil-consuming nations. These models show the price of oil at first escalating and then retreating as other types of fuel and energy sources are used.[3] Pessimistic predictions of future oil production operate on the thesis that either the peak has already occurred,[4][5][6][7] that oil production is on the cusp of the peak, or that it will occur shortly.[8][9] The International Energy Agency (IEA) says production of conventional crude oil peaked in 2006.[10][11] Throughout the first two quarters of 2008, there were signs that a global recession was being made worse by a series of record oil prices.