Source: U.S. Dept. of Energy.
Friday, February 11, 2011
Sources of U.S. Oil Imports
Source: U.S. Dept. of Energy.
Friday, January 7, 2011
OPEC History
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) – suspended its membership from January 2009; 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 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 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.
Wednesday, December 29, 2010
Crude Oil Fractions
Crude oil is a mixture of thousands of different organic compounds with different properties. Before crude oil can be used, these compounds must be sorted into batches of compounds with similar properties. Each of these batches, or fractions, has specific uses.
The table below shows the demand for different fractions of North Sea oil in summer and winter, along with common uses of each fraction.
Saturday, December 25, 2010
History of the Oil Industry
The oil industry began over five thousand years ago. In the Middle East, oil seeping up through the ground was used in waterproofing boats and baskets, in paints, lighting and even for medication. Whale oil has been used in more recent times as a source of light. However, the high premium for whale oil decimated whale populations and as their numbers dropped the prices rose further.
The demand for oil was then far higher than the supply. Many companies and individuals were looking for an alternative and longer lasting source of what would later become known as black gold. Apart from a brief period of coal oil, the answer came with the development of drilling for crude oil. Land oil wells were first and as demand continued to grow exploration companies began to look below the sea bed.
The first oil well structures to be built in open waters were in the Gulf of Mexico. They were in water depths of up to 100m and constructed of a piled jacket formation, in which a framed template has piles driven through it to pin the structure to the sea bed. To this, a support frame was added the working parts of the rig such as the deck and accommodation. These structures were the fore-runners for the massive platforms that now stand in very deep water and in many locations around the world.
Clues around the coast of Greenland gave Geologists the idea that there may be oil and gas around Scottish waters. There have been land oil wells in Europe since the 1920s. It wasn't until the 1960s that exploration in the North Sea really begun, without success in the early years. They finally struck oil in 1969 and have been discovering new fields ever since. The subsequent development of the North Sea is one of the greatest investment projects in the world. The development of the offshore oil industry in hostile waters has been made possible by many achievements comparable with the space industry. Many fields are located far from land and they are getting further away. New fields are being explored in ever deeper and wilder waters.
After the North Sea UK disaster in 1988 when on 6 July, the North Sea Piper Alpha oil platform caught fire and exploded killing 167 of the 228 on board. The industry and the UK government waited until 1990 for the publication of the Cullen report. Lord Cullen discovered that the main cause of the explosion was the failure in the operation of the permit to work system, for which there are now very strict guidelines. This system is used to over-see work, preventing potentially dangerous work being carried out. It also prevents dangerously conflicting work being carried out by a combination of workers and it ensures that proper laid down procedures are adhered to.
Today the industry is very safety conscious. It has to be for its very survival. For example, the safety record of an exploration rig can make a big difference to whether or not an oil company will want to hire it. Oil companies cannot afford to have their name associated with accidents.
The demand for oil was then far higher than the supply. Many companies and individuals were looking for an alternative and longer lasting source of what would later become known as black gold. Apart from a brief period of coal oil, the answer came with the development of drilling for crude oil. Land oil wells were first and as demand continued to grow exploration companies began to look below the sea bed.
The first oil well structures to be built in open waters were in the Gulf of Mexico. They were in water depths of up to 100m and constructed of a piled jacket formation, in which a framed template has piles driven through it to pin the structure to the sea bed. To this, a support frame was added the working parts of the rig such as the deck and accommodation. These structures were the fore-runners for the massive platforms that now stand in very deep water and in many locations around the world.
Clues around the coast of Greenland gave Geologists the idea that there may be oil and gas around Scottish waters. There have been land oil wells in Europe since the 1920s. It wasn't until the 1960s that exploration in the North Sea really begun, without success in the early years. They finally struck oil in 1969 and have been discovering new fields ever since. The subsequent development of the North Sea is one of the greatest investment projects in the world. The development of the offshore oil industry in hostile waters has been made possible by many achievements comparable with the space industry. Many fields are located far from land and they are getting further away. New fields are being explored in ever deeper and wilder waters.
After the North Sea UK disaster in 1988 when on 6 July, the North Sea Piper Alpha oil platform caught fire and exploded killing 167 of the 228 on board. The industry and the UK government waited until 1990 for the publication of the Cullen report. Lord Cullen discovered that the main cause of the explosion was the failure in the operation of the permit to work system, for which there are now very strict guidelines. This system is used to over-see work, preventing potentially dangerous work being carried out. It also prevents dangerously conflicting work being carried out by a combination of workers and it ensures that proper laid down procedures are adhered to.
Today the industry is very safety conscious. It has to be for its very survival. For example, the safety record of an exploration rig can make a big difference to whether or not an oil company will want to hire it. Oil companies cannot afford to have their name associated with accidents.
History of the Oil
Petroleum or crude oil is an oily, flammable liquid that occurs naturally in deposits, most often found beneath the surface of the earth. Over millions of years, plant and animal remains fall to the floor of shallow seas. As the seas recede, the plant material is covered by sediment layers, such as silt, sand, clay, & other plant material. Buried deep beneath layers of rock, the organic material partially decomposes, under an absence of oxygen, into petroleum that eventually seeps into the spaces between rock layers. As the earth's tectonic plate’s move, the rock is bent or warped into folds or it "breaks" along fault lines, allowing the petroleum to collect in pools. Early Man was not unfamiliar with crude oil. In the Middle East escaping petroleum gases burned continuously, giving rise to fire worship.
Sunday, March 16, 2008
President and Chief Executive Officer of Gulf Publishing Company
John D. "Rusty" Meador
President and Chief Executive OfficerJohn D. "Rusty" Meador is President and Chief Executive Officer of Gulf Publishing Company. He joined the company in 1987 as Mid-continent District Manager of advertising sales. Under previous ownership, he served as Vice President, Vice Chairman and Director. He has 33 years of publishing and oil/gas industry experience. Meador has been a petroleum landman and vice-president of operations for an independent oil company. He is a member of NOMADS, the Business Marketing Association, American Association of Drilling Engineers and is a Certified Business Communicator. He currently serves as Secretary of the National Ocean Industries Association. He is a graduate of Southern Methodist University.
President and Chief Executive OfficerJohn D. "Rusty" Meador is President and Chief Executive Officer of Gulf Publishing Company. He joined the company in 1987 as Mid-continent District Manager of advertising sales. Under previous ownership, he served as Vice President, Vice Chairman and Director. He has 33 years of publishing and oil/gas industry experience. Meador has been a petroleum landman and vice-president of operations for an independent oil company. He is a member of NOMADS, the Business Marketing Association, American Association of Drilling Engineers and is a Certified Business Communicator. He currently serves as Secretary of the National Ocean Industries Association. He is a graduate of Southern Methodist University.
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