Crude futures back below $40 mark in thin trading
NEW YORK (MarketWatch) -- Crude-oil futures fell below $40 a barrel Tuesday, as data showing record-low U.S. consumer confidence as well as plunging housing prices overshadowed concerns about possible Middle East supply disruptions as a result of Israel's air raids in the Gaza Strip. Continue Reading...
Tuesday, December 30, 2008 | 0 Comments
What Do Oil Wells Really Mean?
Oil wells usually refer to a vertical hole drilled in the earth to find and extract petroleum oil and natural gas from the underground layers. Wells are generally composed of a series of small holes and tubing and smaller holes within, encased in cement, whereby perforations along the casing in the production zone enable the oil to flow though rocks into the production casing. Inherent pressure is then enough to allow the oil and gas to flow to the surface. In case the pressure is not enough, other substances may be injected to stimulate it.
Wells can produce three types of products. Some produce only oil. Others produce both oil and natural gas. Others produce only natural gas. However, wherever there is extraction of oil, there are high chances that there will also be natural gas present, as in the release of hydrocarbons when the oil is extracted. Where demand for gas is present in the area of the drilling, pipes conduct the gas to the supply lines. In places where the gas may not be carried away for use, it used to be burnt. However recent environmental concerns have reduced this occurrence of burning gas on the spot, and the gas is often re-injected in the well to produce pressure.
Oil wells can be drilled onshore or offshore. Onshore wells are found on land, and are easier and less costly to drill and operate. Gas as the byproduct of oil extraction can also be efficiently carried away through pipe lines. Off shore wells target oil which is underground but also found under an ocean, away from land and shores. Shallow waters are easier to drill into and operate wells on, whereas the logistics of the procedure become more complicated and expensive the deeper the water is.
Oil wells can be classified in different categories, according to their purpose. Production wells are drilled for oil production. Appraisal wells are used to assess characteristics of a hydrocarbon accumulation. Wildcat wells refer to wells dug in an area where not much is known of hydrocarbon accumulation, and referred much to a random dig. These are not really used nowadays, since they were used for exploratory and information purposes, which is now available through the efforts placed in exploratory and appraisal wells.
Mayoor Patel is the writer for the website http://www.oil.oil-universe.com. Please visit for information on all things concerned with Oil Wells
Reference: Ezine Article
Saturday, December 20, 2008 | 0 Comments
Joining The Oil And Gas Industry
Which of these oil and gas drilling jobs would you do? Do you want to be a driller who is in charge of boring the holes? Do you want to be one of the roughnecks who help the driller with the operation of the drilling machines? Whatever your choice, there may still be a job for you in this global industry.
First, here is an overview of the oil and gas industry. The crude oil industry is involved in the exploration, extraction, output and selling of oil products. Crude oil, or petroleum, may be classified as a fossil fuel since it is believed to have been formed from the fossilized remains of dead plant life and other creatures. After millions of years of heat and pressure these materials formed oil reservoirs that are located all over the world.
The modern world runs for the most part on petroleum and its products. It is used in the production of a large number of chemical products, various plastics and fuels. The various operations of this industry may be parted into 3 sections.
Section #1: Oil exploration, production and development.
Section #2: Transportation of oil via oil tankers and pipelines.
Section #3: Marketing and selling oil products to consumers.
Next we may take a look at a few oil and gas drilling jobs. Drillers are in charge of controlling the drilling gear and they are responsible for drilling the holes. Mud engineers are in charge of the fluids being used for drilling. They need to have a solid knowledge of chemistry as well as drilling routines. Roughnecks help with the operation of the drilling equipment as instructed by the driller. A tool pusher is usually an expert driller who works in the oil rig offices and on the rig floor.
Oil and gas drilling jobs are not for the lazy or the weak. You need physical strength and mental stamina as well as the willingness to work in remote places. Oil production jobs are often dirty, greasy and somewhat risky. However, they do pay well and oil companies can take good care of their employees.
Reference: Ezine Article
Saturday, December 20, 2008 | 0 Comments
The What and Why of Petroleum Industry
The petroleum industry is involved in the exploration, extraction, production and marketing of petroleum products. This may be the largest global industry in existence and it has a far reaching impact upon our society, economy and environment.
What is petroleum?
It is classified as a fossil fuel because it is thought to have been formed from the fossilized remains of dead plants and animals. These remains were changed by the prolonged exposure to lots of heat and pressure in the crust of the earth. The remains were covered and preserved by mud layers. This later formed oil reservoirs that are located all across the globe.
Why is the petroleum industry important?
Our modern industrialized society runs largely on crude oil and its derivatives. Petroleum is used in the production of a multitude of chemical products, plastics, solvents and fuels. It is hard to imagine a world without these kinds of products.
How does the petroleum industry operate?
Different operations of this industry may be divided into 3 parts.
Part #1: Petroleum exploration, production and development.
Part #2: Transport of oil via tankers and pipelines
Part #3: Sales and consumers
When did the petroleum industry start?
The petroleum industry may be very old. There are signs that oil has been used as a means of lighting for more than a thousand years. The industrial revolution created a big demand for oil products. Petroleum was established as a most valuable commodity by the 20th century.
When will the world run out of oil?
Petroleum is a non-renewable energy resource and it will eventually be depleted. According to some estimates the world may run out of oil between the year 2050 and 2090. This depends upon whether oil supply and demand increases or decreases in the future.
The petroleum industry has unfortunately caused much water and air pollution. Although biofuels may supplement the energy market, the petroleum industry will continue to provide the biggest share of the world's oil, fuel and gasoline.
Reference: Ezine Article
Saturday, December 20, 2008 | 0 Comments
Crude Oil
The discovery of crude oil and a look at its future existence. Interesting documentaries. Please spend your time and give your review about this video.
Friday, December 19, 2008 | 0 Comments
ROV And The Story Of Giant Squid
When I searching for ROV unit within Youtube i found this, A stories about ROV units and the giant squid. Hahah!!!
ROV & The Story Of Giant Squid Part 1 of 5
ROV & The Story Of Giant Squid Part 2 of 5
ROV & The Story Of Giant Squid Part 3 of 5
ROV & The Story Of Giant Squid Part 4 of 5
ROV & The Story Of Giant Squid Part 5 of 5
Wednesday, December 17, 2008 | 0 Comments
Wellhead Component
A wellhead is a general term used to describe the component that is used to suspend casing strings and provide sealing functionality for oil wells. Wellheads can be located on platforms, sub sea or onshore.
Wellhead system primary components are:
- Casing head
- Casing spools
- Casing hangers
- Packoffs and isolation seal
- Bowl protectors
- Test plugs
- Mudline suspension systems
- Tubing heads
- Tubing hangers
- Tubing head adapters
Wednesday, December 17, 2008 | 0 Comments
Oil field Glossary
|
Wednesday, December 17, 2008 | 0 Comments
5 of the leading global oil companies
The 5 of the leading global oil companies are;
- Saudi Arabian Oil Company
- National Iranian Oil Company
- Qatar Petroleum
- Abu Dhabi National Oil Company
- Petróleos de Venezuela South America
Tuesday, December 16, 2008 | 0 Comments
Christmas Tree
In petroleum and natural gas extraction, a Christmas tree, or "Tree", is an assembly of valves, spools, and fittings, used for an oil well, gas well, water injection well, water disposal well, gas injection well, condensate well and other types of wells. It was named for its crude resemblance to a decorated tree. The other named for Christmas tree is Wellhead.
A wellhead is a general term used to describe the component that is used to suspend casing strings and provide sealing functionality for oil wells. Wellheads can be located on platforms, subsea or onshore.
A Wellhead system provides the following basic functionality:
- support of the casing and tubing strings (the tubing string may also be suspended in the Christmas Tree);
- provide a seal between the different strings and increasing allow for access to annuli between the different casing/tubing strings.
Wellhead system primary components:
- Casing head
- Casing spools
- Casing hangers
- Packoffs and isolation seal
- Bowl protectors
- Test plugs
- Mudline suspension systems
- Tubing heads
- Tubing hangers
- Tubing head adapters
Wellheads are cemented in place and are generally permanently kept in place, although in exploration wells they may be recovered for use again. Factors that affect wellhead configuration are pressure, temperature, location, well depth, well size, well purpose, expected well life, well control equipment interface, drilling method, etc.
A wellhead serves numerous functions. Some of these are:
1) Means of casing suspension. (Casing is the permanently installed pipe used to line the well hole for pressure containment, collapse prevention etc.)
2) Means of casing pressure isolation when multiple casing strings are used
3) Means of attaching during drilling
4) Means of attaching a tree for well control during production, injection, or other operations
5) Means of well access
6) Means of pump attachment
7) Means of tubing suspension (Tubing is removable pipe installed in the well)
The basic requirements for materials, dimensions, test procedures and pressure ratings for wellheads and wellhead equipment are defined on API Spec 6A: Specification for Wellhead and Christmas Tree Equipments.Saturday, December 13, 2008 | 2 Comments
Contact
Saturday, December 13, 2008 | 0 Comments
link exchange
link exchange program. Contact me if u interested to join me.
How?
Paste my URL http://crude-oil-futures.blogspot.com at the the first page with my display named as Crude Oil Futures at your site and then contact me with title/subject:
link exchange program for free.
Name of Website/Blog
Others Exchange
- Subscribers Exchange
- Follower Exchange
- Recent Readers Exchange
- Follower Exchange
- And Many More Exchange
Note:
- Do not delete my link when you agree to join my link exchange program.
- Advantage with my link exchange program: i will visit your page daily so you just get free 1 visitor daily.
- Chose for what named you prefers to display four free link exchange here. example as per above.
- Happy Blogging.
Thursday, December 11, 2008 | 0 Comments
List Of Petroleum Companies
This is a selected list of petroleum companies in alphabetical order.
- Assam Oil Company Ltd. (ACL), India
- Abu Dhabi National Oil Company (ADNOC), United Arab Emirates
- Alon USA, United States
- Amerada Hess Corporation, United States
- Anadarko Petroleum Corporation, United States
- Apache Corporation, United States
- Arbusto Energy, United States
- Atlantic Petroleum, Faroe Islands
- BG Group, United Kingdom
- Bharat Petroleum Corporation Limited, India
- BHP Billiton, Australia
- BP, United Kingdom
- Cairn Energy, India
- Canadian Natural Resources, Canada
- Chevron Corporation, United States
- Citgo, Venezuela
- CNOOC Ltd., China
- ConocoPhillips, United States
- Cosmo Oil Company, Japan
- Crown Central Petroleum, United States
- Cupet, Cuba
- Devon Energy, United States
- Ecopetrol, Colombia
- Enbridge, Canada
- EnCana, Canada
- ENSCO International, United States
- Eni, Italy
- Essar oil ltd., India
- Entreprise Tunisienne d'Activites Petroliere (ETAP), Tunisia
- ExxonMobil, United States
- First Texas Energy Corporation United States
- Galp Energia, Portugal
- GeoPardazesh - Petroleum Exploration Services Co. Ltd., Iran
- Petronet LNG Limited, India
- Gujarat Gas Co. Ltd., India
- Gujarat State Petroleum Corporation, India
- Gulf Oil, Luxembourg
- Grupa LOTOS, Poland
- Hellenic Petroleum, Greece
- Hindustan Petroleum Corporation Ltd, India
- Husky Energy, Canada
- IB Daiwa, Japan
- Imperial Oil, Canada
- INA - Industrija Nafte, Croatia
- Indian Oil Corporation, India
- Inpex, Japan
- Irving Oil, Canada
- Japan Energy, Japan
- Kerr-McGee, United States
- Koch Industries, United States
- Kuwait German Petroleum Company, Canada
- LUKoil, Russia
- Marathon Oil Corporation, United States
- Maxol Group, Republic of Ireland
- MedcoEnergi, Indonesia
- Mol Group, Hungary
- Naftna Industrija Srbije, Serbia
- Naftohaz Ukrainy, Ukraine
- National Iranian Oil Company (NIOC), Iran
- National Oil Corporation, Libya
- Neste Oil, Finland
- Nippon Oil, Japan
- NNPC, Nigeria
- Northern Resources[1], Canada
- Oil and Gas Development Company Limited[2], Pakistan
- Occidental Petroleum
- Oil India Limited, India
- Oman Oil Company (OOC), Oman
- OMV, Austria
- ONGC, India
- PKN Orlen S.A., Poland
- PSO, Pakistan
- Petróleos de Venezuela, Venezuela
- Petroleos Mexicanos, Mexico
- Petro-Canada, Canada
- Petrobras, Brazil
- PetroChina, China
- PetroKazakhstan, Canada
- Petrom, Romania
- Petron Corporation, Philippines
- PETRONAS, Malaysia
- PETROTRIN, Trinidad and Tobago
- Pertamina, Indonesia
- Polish Oil and Gas Company, Poland
- Qatar Petroleum, Qatar
- Reliance Industries Limited, India
- Repsol YPF, Spain
- Rompetrol Group N.V., Romania
- Royal Dutch Shell, Netherlands, United Kingdom
- San-Ai Oil, Japan
- Santos Limited, Australia
- Sasol, South Africa
- Saudi Aramco, Saudi Arabia (the largest in the world)
- Shell Canada, Canada (subsidiary of Royal Dutch Shell)
- Shell Oil Company, United States (subsidiary of Royal Dutch Shell)
- Sinclair Oil, United States
- Sinopec, China
- Snpc, Congo-Brazzaville
- Sonangol, Angola
- Sonatrach, Algeria
- SPC, Singapore
- StatoilHydro, Norway
- State Oil Company of Azerbaijan, SOCAR Azerbaijan
- State Oil Company of Suriname, Suriname
- Sunoco, United States
- Suncor Energy, Canada
- Surgutneftegaz, Russia
- Syncrude, Canada
- Talisman Energy, Canada
- Todd Energy, New Zealand
- Total, France
- United Refining Company, United States
- Vaalco Energy Inc., United States
- Wintershall, Germany
- Woodside Petroleum, Australia
- YPF, Argentina
- YPFB, Bolivia
- YUKOS, Russia
Reference: Wikipedia, the free encyclopedia
Saturday, November 29, 2008 | 0 Comments
The Organization of the Petroleum Exporting Countries (OPEC)
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965.
OPEC's OBJECTIVE
OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
OPEC's MISSION
OPEC's mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry.
CLICK HERE TO OPEC'S OFFICIAL WEBSITE
Saturday, November 29, 2008 | 0 Comments
Crude Oil Product
- Petroleum gas - used for heating, cooking, making plastics
- Naphtha or Ligroin - intermediate that will be further processed to make gasoline
- Gasoline - motor fuel
- Kerosene - fuel for jet engines and tractors; starting material for making other products
- Gas oil or Diesel distillate - used for diesel fuel and heating oil; starting material for making other products
- Lubricating oil - used for motor oil, grease, other lubricants
- Heavy gas or Fuel oil - used for industrial fuel; starting material for making other products
- Residuals - coke, asphalt, tar, waxes; starting material for making other products
Friday, November 28, 2008 | 0 Comments
About Oil Refining
The problem with crude oil is that it contains hundreds of different types of hydrocarbons all mixed together. You have to separate the different types of hydrocarbons to have anything useful. Fortunately there is an easy way to separate things, and this is what oil refining is all about.
Different hydrocarbon chain lengths all have progressively higher boiling points, so they can all be separated by distillation. This is what happens in an oil refinery - in one part of the process, crude oil is heated and the different chains are pulled out by their vaporization temperatures. Each different chain length has a different property that makes it useful in a different way
Friday, November 28, 2008 | 0 Comments
Hydrocarbons In Crude Oils
The major classes of hydrocarbons in crude oils include:
- Paraffins
- Aromatics
- Napthenes or Cycloalkanes
- Alkenes
- Dienes and Alkynes
- Hydrocarbons contain a lot of energy. Many of the things derived from crude oil like gasoline, diesel fuel, paraffin wax and so on take advantage of this energy.
- Hydrocarbons can take on many different forms. The smallest hydrocarbon is methane (CH4), which is a gas that is a lighter than air. Longer chains with 5 or more carbons are liquids. Very long chains are solids like wax or tar. By chemically cross-linking hydrocarbon chains you can get everything from synthetic rubber to nylon to the plastic in tupperware. Hydrocarbon chains are very versatile!
Friday, November 28, 2008 | 0 Comments
Crude Oil Futures Define Crude Oil
Before we start let me introduce you the meaning of the crude oil itself, it has facts but sometime being subjective to people.
Crude Oil can be define as:
- A mixture of hydrocarbons that exists as a liquid in natural underground reservoirs and remains liquid at atmospheric pressure after passing ...
www.caltex.com.au/products_glo.asp - Liquid petroleum as it comes out of the ground as distinguished from refined oils manufactured out of it.
www.rrc.state.tx.us/divisions/og/glossary.html - Crude oil is the mixture of petroleum liquids and gases (including impurities such as sulphur) that is pumped out of the ground by oil wells.
www.climatechangenorth.ca/H1_Glossary.html - unrefined liquid petroleum. It ranges in density from very light to very heavy and in color from yellow to black, and it may have a paraffin, asphalt, or mixed base.
sln.fi.edu/fellows/fellow2/jan99/new/oilvocab.html - Liquid petroleum as it comes out of the ground. Crude oils range from very light (high in gasoline) to very heavy (high in residual oils). Sour crude is high in sulfur content. Sweet crude is low in sulfur and therefore often more valuable.
www.maverickenergy.com/lexicon.htm - A mineral oil consisting of a mixture of hydrocarbons of natural origin, yellow to black in colour, of variable specific gravity and viscosity
www.primarypetroleum.com/index.php - A naturally occurring mixture of liquid hydrocarbons as it comes out of the ground (before or after any dissolved gas has been separated from it, but prior to any process of distilling or refining). ...
www.crownexploration.com/oil-gas-glossary.php - petroleum in its natural state prior to any refining process. Main elements are hydrogen and carbon.
www.pwsrcac.org/resources/glossary.html - Crude oil - as petroleum directly out of the ground is called - is a remarkably varied substance, both in its use and composition. It can be a straw-colored liquid or tar-black solid. Red, green and brown hues are not uncommon.
www.oregon.gov/ENERGY/CONS/Industry/Definitions.shtml - The basic raw mineral pumped from the earth. There are many different grades of crude, each containing various vapors, liquids and solids. ...
www.mapl.com/about/termoil.html - This is the oil product from the extraction process. Crude oil contains a number of undesirable compounds that are removed in the refining process.
www.extension.iastate.edu/AGDM/crops/html/a3-50.html - A naturally occurring, oily, flammable liquid composed principally of hydrocarbons. Crude oil is occasionally found in springs or pools but ...
www.pplweb.com/glossary.htm - unrefined petroleum in its natural form when taken from the ground. Crude oil is the basis for gasoline, engine oil, diesel oil, kerosene and ...
www.msnucleus.org/membership/html/jh/earth/dictionary/earth/definitions.htm - is liquid fossil fuel. It is yellow to black in colour and occurs in openings found in sedimentary rock, alongside its gaseous by-product natural gas.
www.ec.gc.ca/soer-ree/English/Indicators/Issues/Energy/Tech_Sup/ecsup5_e.cfm - Oil produced from a reservoir before it has been refined, after any associated gas has been removed.
www.blueenergy.com.au/content.asp - Oil in its natural state of composition. "Crude" is classified according to its physical properties: a. Paraffin Based, b. Asphaltic Based, c. Mixed Based.
eei-inc.com/pages/investors/glossary.html - petroleum In the United States, crude oil is measured in barrels of 42 gallons each; the weight per barrel of API 30° light oil would be about 306 pounds. In many other countries, crude oil is measured in metric tons. ...
www.britannica.com/EBchecked/topic/54010/barrel - Is the raw, unprocessed, liquid form that comes out of the ground. It is also known as petroleum. Crude oil is a fossil fuel, meaning that it was made naturally from decaying plants and animals living millions of years ago Crude oils vary in color, from clear to tar-black, and in viscosity, from ...
more-per-gallon.com/Glossary.html - Unrefined petroleum, ie, oil as it comes from the well.
www.essentialenergy.ca/investors/glossary.php - The oil produced from a reservoir, after associated gas is removed in separation. A fossil fuel formed by plant and animal matter several million years ago. Crude oil consists of organic compounds based on hydrogen and carbon atoms, and therefore called hydrocarbons. ...
www.paresources.se/en/Operations/Glossary/ - petroleum: a dark oil consisting mainly of hydrocarbons
wordnet.princeton.edu/perl/webwn - Petroleum (Latin Petroleum f. Latin petra f. Greek πέτρα - rock + Latin oleum f. Greek έλαιον - oil was first used in 1556 in a treatise published by the German mineralogist Georg Bauer, known as Georgius Agricola. ...
en.wikipedia.org/wiki/Crude Oil
Crude oil is the term for "unprocessed" oil, the stuff that comes out of the ground. It is also known as petroleum. Crude oil is a fossil fuel, meaning that it was made naturally from decaying plants and animals living in ancient seas millions of years ago -- most places you can find crude oil were once sea beds. Crude oils vary in color, from clear to tar-black, and in viscosity, from water to almost solid.
Crude oils are such a useful starting point for so many different substances because they contain hydrocarbons. Hydrocarbons are molecules that contain hydrogen and carbon and come in various lengths and structures, from straight chains to branching chains to rings. -Read More-
Friday, November 28, 2008 | 0 Comments
Crude Oil Futures Opening Post.
Thanks you readers for this very great moment that you in here..
I am wondering now:
- How you could find my blog " Crude oil Futures" actually?
- Do you engineer, crew, leader or anybody who involve on this black gold industries?
- What is you Background?
- Do you get useful information here?
"Crude Oil Futures Blog"
Friday, November 28, 2008 | 0 Comments