Global Petroleum Industry

Houston, which is the fourth most populous city in the nation and the largest in the southern U.S. and Texas, has been developing strong economy, especially in oil and gas industry. During the last decades of the twentieth century, Houston focused on developing energy industry—which comprises oil and gas exploration and production, oilfield equipment manufacturing and wholesaling, and pipeline transportation. However, some economists doubt that depending on oil and gas too much could make Houston particularly vulnerable to economic downturns determined by energy prices, the national economy, and the value of the dollar against foreign currencies. In fact, oil and gas have driven the Houston economy and been responsible for 50% of the jobs related to the export of goods and services outside the area. This research focuses on analyzing some factors including the incentive programs (local and state policies about taxation) and state organizations including the Texas General Land Office and the Texas Railroad Commission as contributions to regulate and organize oil and gas industry in order to develop Houston economy healthily and prosperously. Besides that, facts and figures from secondary resources are showed as achievements of Houston in developing economy depending on oil and gas industry. Clearly, thanks to state and local policies and programs as well as these state organizations in oil and gas industry, Houston is a potential economy region whose economy is growing faster

3. The volume of a fixed mass of a liquid sample increases as the temperature rises from 20 to

My hypothesis states that if a balloon is in the freezer as opposed to leaving it out at room temperature the balloon in the freezer will expand more than the one at room temperature. In the following

All components in the intermittent table can happen as a strong, a fluid, or a gas. The contrast in the middle of solids and fluids and fluids and gasses depends on the measure of warm vitality and the quality of intermolecular powers. An investigation was led to watch the impacts of adding warm vitality to a strong state through warming a water test to bubble.

Hypothesis- I predict that the density of water will not change. Based on my prior knowledge density will not increase or decrease the substance, it will remain constant.

The volume is definite if the temperature and pressure are constant. When a solid is heated above its melting point, it becomes liquid, given that the pressure is higher than the triple point of the substance. Intermolecular (or interatomic or interionic) forces are still important, but the molecules have enough energy to move relative to each other and the structure is mobile. This means that the shape of a liquid is not definite but is determined by its container. The volume is usually greater than that of the corresponding solid, the most well known exception being water, H2O. The highest temperature at which a given liquid can exist is its critical temperature.[5]

The properties of freezing point, boiling point, vapor pressure, and osmotic pressure are properties that can be manipulated based on the ratio of a solute in a solution compared to the pure solvent. A pure solvent is generally a liquid compound that has the ability to dissolve other materials chemically. Decreased freezing point is the temperature at which the solution or solvent becomes solid, leaving the solute behind. The boiling point is how much it takes for the pressure of the water to become more than the atmospheric pressure or when the vapor pressure of the liquid becomes greater than the atmospheric pressure. Vapor pressure can be described in terms of the pressure rates of molecules going in or out of a state of liquid or gas

One of the most capital intensive and globalized industries is the energy sector because of its operations that are inherently complex. As such, the oil and gas projects experience overruns of costs that exceeds 100 percent at times, which have created the need for adoption of new contracting strategies (Schramn, Meibner, & Weidinger, 2009). The risks in most cases are contractually distributed and shared among the energy project stakeholders instead of leaving it to the owner. Some of the risks include the reputational risk, environmental risks, and the disasters experienced and which exposes the companies to the costly process of litigation. Accordingly, the oil and gas industry fails to achieve different aspects of the overall strategic business goals because of the challenges that occur in the projects undertaken (Chanmeka, Thomas, Caldas, and Mulva 2012). Such problems might be categorized around the allocated budget and at the level of quality within set schedules.

Around the globe, the oil and natural gas industries are a major part of stable and growing economies, as well as, the individual lives of most people. As individuals we use it to run our vehicles, heat our homes, cook, and much more. Economies, on the other hand, rely on the oil and natural gas industries for the jobs they create, the product they supply, and the added value created by government revenues. In 2011, these industries in the United States made up 5.6 percent of the nation’s total employment, providing $394 billion in labor income (6-15, American Petroleum Institute). They also contributed an estimated $410.3 billion to the nation’s economy through wages, capital spending, and dividends totaling 7.1 percent of the United States’ gross domestic product (GDP) (25-26, American Petroleum Institute). Those percentages may not seem like much alone, but when you consider that one industry, out of hundreds in the United States, makes up those numbers, they seem a lot larger. During the 1990’s, oil and natural gas production had hit a snag spreading worry that the U.S. would become reliant on foreign imports (Inman). One of the world’s leading countries in the industry were beginning to fear the end of a resource that they relied so heavily on.

In the oil industry, well testing is a very useful tool to be able to model and interpret what processes are going on underground in a reservoir system and what effect it would have if drilled into. From well testing, it is quite common to observe a pressure transient derivative signature showing an upward continuous trend. These types of curves are presented by a pressure derivative versus time log-log scale plot in different software’s with KAPPA being an example. This trend can be interpreted as showing the presence of nearby no flow boundaries. However, comparing this data with such seismic and geological evidence it is often concluded that these such boundaries appear too close to the well.

close look at my Resume will indicate that I majored in the exploitation of oil and gas fields in my undergraduate program and specialized in petroleum engineering, a similar specialty, in my Master’s program. It may well be asked why I maintain such a close affinity with petroleum. The answer is simple and straightforward—because I was born and I grew up on an oil field and I have cherished a deep love for all that it represent. Even as a child, I had a habit of watching for hours how beam-pumping units, standing as if like a miniature forest, worked, indulging myself in all kinds of fantasies and reflections about the mysterious reservoir underground with great curiosity. I imagined that someday I would be able to unveil its mysteries.

In December 2014, OPEC was ranked third on Lloyd 's list of "the top 100 most influential people in the shipping industry.” It is important to understand the mission of OPEC is to better understand its influence and impacts on the world. According to the OPEC website, The mission statement of OPEC is as follows: In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its 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 for those investing in the petroleum industry. The 13

Over the last years, the oil industry practiced its deepest recession since 1990s. That being said, the recovery for this industry finally starts getting better. The Organization of the Petroleum Exporting Countries approved to change the production last year, 2016. This arrangement has been holding over to this year, with oil prices increasing for the past several months. But in recent weeks, United States records have been found greater oil prices have been faded. Experts think it will be years before oil returns $100 a barrel, a price that was regular till late 2014. But after the oil price recovered from below $30 in early 2016 to over $50 by the end of the year, there was increasing certainty in the industry that crude oil could rise

This is the Organization of Petroleum Exporting Countries. With the aim of coordinating the petroleum policies of the member states, the organization was founded in 1960. Member countries have been benefitting from the organization both economically and technically as the organization works on the foundation of a cartel that sets oil prices on a global scale. As such member states are cushioned against the fluctuating global oil prices. The organization is guided by the mission which is;

The oil and natural gas sector is constituted of three major components – upstream, midstream and downstream. The upstream industry includes exploration and production, midstream includes processing, storing and transporting while the downstream industry includes oil refineries and distribution. It provides consumers with various products like petroleum, gasoline, diesel, lubricants. The purpose of our project is to study the downstream oil and natural gas sector industry environment, that is, oil refining and distribution in India. The Indian oil and gas sector is one of the six major industries in India that have a huge impact on the country’s economy. We, in this project, have made an attempt to identify