The petroleum industry refines crude petroleum and processes natural gas
The petroleum industry refines crude petroleum and processes natural gas into a multitude of products. It is also involved in the distribution and marketing of petroleum-derived products. Processes include: oil- and gas-field operations, gas plant processing operations, refining and refinery operations, and refining technologies. So the petroleum industry’s reliance on accurate and reliable valuation methods is apparent. The negotiations that support these exchanges hinge on finding valuation methods that both sides deem acceptable. The risk of paying too much for an acquired property, or selling for too little, is always present.
Success in the petroleum industry
Success in the petroleum industry demands competent management of a wide range of complex and difficult risks. The consequences of failure are high especially given the hazardous and environmentally damaging nature of many industry operations. The long-term viability of oil and gas projects therefore depends to a large extent on the experience and capabilities of the project sponsors to manage complex risks in a highly competitive environment.
Petroleum
Industry
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EN590
EN590 is the European standard for diesel fuel that outlines specific technical requirements and characteristics to ensure the quality and compatibility of diesel fuels …
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Crude Oil
Welcome to a comprehensive exploration of one of the world’s most pivotal resources—Crude Oil. This foundational substance serves as the lifeblood of our modern energy…
More detailEN 590
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EN 590
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EN 590
+10
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EN 590
+50
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Crude oil
Crude oil, often referred to as petroleum, is a naturally occurring fossil fuel formed from the remains of ancient marine organisms. Over millions of years, layers of sediment buried these organisms, subjecting them to heat and pressure, ultimately transforming them into hydrocarbons. This process gave rise to the vast reservoirs of crude oil found beneath the Earth’s surface.
Light cycle oil ( LCO )
Light Cycle Oil (LCO) emerges as a valuable byproduct in the intricate dance of molecules within the petroleum refinery, specifically during the fluid catalytic cracking (FCC) process. This refined petroleum product occupies a strategic position in the hierarchy of hydrocarbons, offering a bridge between the heavier and lighter fractions of the refined spectrum.
Liquified Natural Gas (LNG)
LNG stands for Liquefied Natural Gas. It is natural gas that has been cooled to a point where it condenses into a liquid form for ease of storage and transportation. The liquefaction process involves reducing the temperature of natural gas to around -260°F (-162°C), at which point it becomes a clear, colorless, and non-toxic liquid.
Liquified Petroleum Gas (LPG)
Liquefied Petroleum Gas, commonly known as LPG, emerges as a dynamic and flexible energy source derived from the refining of crude oil and natural gas. Comprising primarily propane and butane, LPG stands out for its ability to seamlessly transition between gaseous and liquid states, unlocking a realm of possibilities for a diverse range of applications.
Gasoline
Gasoline, often referred to as petrol, is a liquid fuel derived from crude oil through a refining process. Here are the key components and characteristics of gasoline:
EN590 Diesel Fuel
Welcome to a comprehensive exploration of EN590, a crucial standard that defines the specifications for diesel fuel in Europe. As the backbone of transportation, EN590.
Jet A-1
Jet A-1 is a type of aviation fuel primarily used in commercial and civilian jet aircraft. It is a kerosene-based fuel specifically designed for use in aviation turbine engines.
