Crude oil is a black liquid extracted from underground that consists of hydrocarbon compounds from ancient animal and plant matter. It remains liquid under normal temperatures and can be distilled into products like gasoline. The top crude oil producing countries are Saudi Arabia, Russia, and the United States. Crude oil is the world's most important commodity and is used across many industries and economies.
The document provides information on the global oil and gas industry and India's upstream oil and gas sector. It discusses the formation and accumulation of oil and natural gas over millions of years. It then outlines India's history of oil exploration, beginning in the late 19th century in Assam. It describes the development of India's upstream sector, including the role of national oil companies ONGC and OIL. It also summarizes India's oil and gas production, consumption, and sedimentary basins with exploration potential.
The document provides a summary of Bilal Ilahi's educational and professional experience working in the oil industry. It then discusses various topics related to crude oil including reserves, production, consumption, pricing, refining, and the factors that influence supply and demand of oil on global markets.
The presentation is about_ what is petroleum? Formation of Petroleum, historical background of petroleum, its world wide distribution and oil conflicts. _(Parves Khan)
The document discusses world oil resources, including conventional and unconventional sources. It notes that while conventional oil reserves have remained largely unchanged since the 1960s, unconventional sources like oil sands and shale oil are far more abundant, with earth estimated to hold 45,000 billion barrels of unconventional oil. The largest unconventional reserves are in Canada's Athabasca oil sands and Venezuela's Orinoco basin, together accounting for over two-thirds of world heavy and extra-heavy oil production. While unconventional oil recovery is more difficult, up to 1,000 billion barrels may eventually be producible. OPEC members, led by Saudi Arabia, hold around 75% of world crude oil reserves according to current estimates
Understanding the Major Happenings in the Oil Market. A slippery path!Aakriti Agarwal
Looks at the factors that affect the demand and supply of Oil globally; understands the functioning of OPEC, and the different oil benchmarks: crude, opec basket, west texas and dubai. Understands the reasons of the major happenings such as 1973 supply shock, 1979 energy crisis, 1980s oil glut, 1990s energy crisis and the current falling price of oil.
A Case Study On India’s Dependency On Crude Oil And AN Analysis Of Alternativ...rs2003
Globally, there are a lot of uncertainties surrounding crude oil supplies as reserves are depleted. Previous energy transitions were gradual, but moving away from oil may be abrupt and revolutionary. This study explores alternative energy solutions to bring predictability to uncertainties regarding crude oil depletion. It analyzes India's dependency on crude oil imports and discusses biofuels like ethanol and butanol, electric vehicles, hydrogen fuel, and more as potential substitutes. The transition away from fossil fuels is necessary but challenges remain regarding production capacity and infrastructure changes.
The document provides an overview of crude oil and its effects on the global and Indian economies. It discusses the history of crude oil production, key events like the 1973 and 1979 oil shocks that increased oil prices, and their economic impacts. It also summarizes India's oil reserves, production, refineries, consumption, and efforts to promote alternatives like ethanol blending to reduce reliance on imports.
Petroleum, or crude oil, is a thick, flammable liquid found beneath the earth's surface that is the precursor to many useful products. It is obtained through oil drilling and refined into fuels like gasoline and diesel. The top petroleum producing countries are located in the Middle East and Russia. Petroleum is essential for transportation fuels and many other industries that produce plastics, fabrics, and medicines. While it provides an energy-dense fuel source, dependence on petroleum also contributes to environmental issues like greenhouse gas emissions and oil spills.
The document provides information on the global oil and gas industry and India's upstream oil and gas sector. It discusses the formation and accumulation of oil and natural gas over millions of years. It then outlines India's history of oil exploration, beginning in the late 19th century in Assam. It describes the development of India's upstream sector, including the role of national oil companies ONGC and OIL. It also summarizes India's oil and gas production, consumption, and sedimentary basins with exploration potential.
The document provides a summary of Bilal Ilahi's educational and professional experience working in the oil industry. It then discusses various topics related to crude oil including reserves, production, consumption, pricing, refining, and the factors that influence supply and demand of oil on global markets.
The presentation is about_ what is petroleum? Formation of Petroleum, historical background of petroleum, its world wide distribution and oil conflicts. _(Parves Khan)
The document discusses world oil resources, including conventional and unconventional sources. It notes that while conventional oil reserves have remained largely unchanged since the 1960s, unconventional sources like oil sands and shale oil are far more abundant, with earth estimated to hold 45,000 billion barrels of unconventional oil. The largest unconventional reserves are in Canada's Athabasca oil sands and Venezuela's Orinoco basin, together accounting for over two-thirds of world heavy and extra-heavy oil production. While unconventional oil recovery is more difficult, up to 1,000 billion barrels may eventually be producible. OPEC members, led by Saudi Arabia, hold around 75% of world crude oil reserves according to current estimates
Understanding the Major Happenings in the Oil Market. A slippery path!Aakriti Agarwal
Looks at the factors that affect the demand and supply of Oil globally; understands the functioning of OPEC, and the different oil benchmarks: crude, opec basket, west texas and dubai. Understands the reasons of the major happenings such as 1973 supply shock, 1979 energy crisis, 1980s oil glut, 1990s energy crisis and the current falling price of oil.
A Case Study On India’s Dependency On Crude Oil And AN Analysis Of Alternativ...rs2003
Globally, there are a lot of uncertainties surrounding crude oil supplies as reserves are depleted. Previous energy transitions were gradual, but moving away from oil may be abrupt and revolutionary. This study explores alternative energy solutions to bring predictability to uncertainties regarding crude oil depletion. It analyzes India's dependency on crude oil imports and discusses biofuels like ethanol and butanol, electric vehicles, hydrogen fuel, and more as potential substitutes. The transition away from fossil fuels is necessary but challenges remain regarding production capacity and infrastructure changes.
The document provides an overview of crude oil and its effects on the global and Indian economies. It discusses the history of crude oil production, key events like the 1973 and 1979 oil shocks that increased oil prices, and their economic impacts. It also summarizes India's oil reserves, production, refineries, consumption, and efforts to promote alternatives like ethanol blending to reduce reliance on imports.
Petroleum, or crude oil, is a thick, flammable liquid found beneath the earth's surface that is the precursor to many useful products. It is obtained through oil drilling and refined into fuels like gasoline and diesel. The top petroleum producing countries are located in the Middle East and Russia. Petroleum is essential for transportation fuels and many other industries that produce plastics, fabrics, and medicines. While it provides an energy-dense fuel source, dependence on petroleum also contributes to environmental issues like greenhouse gas emissions and oil spills.
recent oil crises seminar final presentationAman Rijal
This document discusses the history and causes of oil price slips. It begins with the origin of crude oil from plant and animal remains millions of years ago. In the early 20th century, there were fears of running out of oil as production increased. OPEC was formed in 1960 by major oil producers to negotiate higher prices. Various factors like economic crises, wars, and changes in supply and demand have impacted oil prices over time. The document also discusses OPEC's role in stabilizing oil prices and providing steady income for member countries. It outlines alternatives to oil and implications of lower oil prices for different countries and sectors.
OPEC (Organization of Petroleum Exporting Countries)Clinton Mushahary
The Organization of Petroleum Exporting Countries (OPEC) was established in 1960 by five founding members - Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It is an intergovernmental organization that coordinates and unifies oil policies among its members, with goals of stabilizing oil markets and ensuring a steady supply of oil to consumers. OPEC played a key role in the 1973 oil embargo and continues to influence global oil prices and production levels through agreements among its members, which now include 12 countries in total. Saudi Arabia is OPEC's largest producer and has significant spare capacity to influence markets.
Oil prices are determined by global supply and demand factors as well as market sentiment. In India, over 50% of petrol costs are from taxes as oil is a major source of government revenue. Rising oil prices negatively impact India's trade deficit and inflation while benefiting government finances. Major causes of high oil prices in India include supply/demand imbalances, a large vehicle using population, and absence of reforms. Steps to reduce impacts include developing alternate energy sources, energy efficiency, and maintaining economic growth.
Libya has significant oil and natural gas reserves. Its proven oil reserves are 39 billion barrels and natural gas reserves are 52 trillion cubic feet. Oil production is around 1.6 million barrels per day, with over 90% exported to European countries like Italy. Libya depends on foreign investment and expertise to develop its oil and gas resources. It has recently begun allowing more foreign companies like Occidental Petroleum and ChevronTexaco to operate in Libya and boost production. Libya also aims to increase its domestic refining capacity and natural gas exports to Europe.
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It is a dark, sticky liquid composed mainly of carbon and hydrogen. Crude oil is the world's most actively traded commodity and is refined into fuels like gasoline and diesel. The first commercial oil wells were drilled in the 1850s in Romania and India, and global crude oil consumption has exceeded 875 billion barrels to date. Crude oil futures are traded on exchanges like NYMEX and MCX, with key factors influencing prices including supply, demand, geopolitics, and weather conditions.
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It provides about 37% of the world's energy after fueling only 4% at the start of the 20th century. Crude oil varies in composition but contains mainly carbon and hydrogen, and is classified by its geographic origin, API gravity measuring density, and sulfur content, with sweet crude containing less sulfur being more valuable. Fundamental factors like supply, demand, economic conditions, and politics affect crude oil prices in addition to technical indicators used in futures markets to hedge price risk.
The main topics described in this power point presentation are
INTRODUCTION OF MINERALS
CLASSIFICATION OF MINERALS
USES OF MINERALS
WHAT IS PETROLEUM?
MAGIC OF PETROLEUM
HOW IS PETROLEUM FORMED
CONSTITUIENTS OF PETROLEUM
COMPOSITION OF PETROLEUM
WHAT IS OIL WELL?
REFINNING OF PETROLEUM
LEADING PETROLEUM PRODUCERS
Excess of USAGE LEADS TO….
HAZARDS OF PETROLEUM
hope you like it
- OPEC was founded in 1960 by 5 countries (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela) to organize and unify petroleum policies and secure stable prices. It has since expanded to 13 member countries.
- In 1973, OPEC imposed an oil embargo in response to the Yom Kippur War, which quadrupled oil prices and had significant economic impacts in the US and Europe. This established OPEC as a powerful force in global oil markets.
- In the 1980s, increased oil production from non-OPEC countries and a global recession caused a collapse in oil prices, though OPEC has since tried various policies to stabilize prices.
A critical issue that we are facing NOW. Just that the main stream media dare not report it freely. Something that All of Us Must Know by NOW.
Note that the Animation in the Slides can Only be seen with the Downloaded PPS file.
PLAN B NO BS - J. IV CARBON Oil - 20th Century's Fatal Seductress. C2 V1Start Loving
- Oil production has increased 180-fold over the 20th century, fueling population growth and modern civilization. However, the world's largest oil fields have already been discovered and global production is now in decline.
- Alternative sources like tar sands require much more energy to produce and are highly polluting. As conventional oil supplies dwindle, global competition and conflict over remaining reserves is likely to intensify.
- Agriculture has also become heavily dependent on oil to power machinery, transport food, and produce fertilizers. Declining oil supplies threaten the ability to feed the world's population in the coming decades. Difficult system-wide changes will be needed to transition to post-oil sustainable farming.
Nigeria is Africa's largest oil producer, with proven reserves of 37 billion barrels of oil and 180 trillion cubic feet of natural gas. It produces an average of 2.1 million barrels of oil per day, though production has fluctuated due to issues like oil theft. Shell is the largest operator, producing over 50% of Nigeria's oil and gas. No significant investments have been made in exploration since 2006, so reserves have not grown despite ongoing production. Future production could double to 4 million barrels daily with investments, but may fall 40% by 2020 without them.
The document discusses key oil chokepoints and supply risks globally and for India. It notes India's high dependency on oil imports which is increasing, and vulnerabilities from geopolitical disruptions to major transit routes like the Strait of Hormuz. To improve energy security, the document recommends India develop alternative energy sources, pursue strategic storage, and explore for new domestic oil fields, while also acquiring oil assets abroad.
The 1973 oil crisis began when OAPEC proclaimed an oil embargo in response to the US support of Israel. This caused oil prices to rise dramatically from $3 to $12 per barrel. India was heavily impacted as it imports most of its oil and saw effects like deterioration of its balance of payments. Petroleum is used for much more than fuel, and is essential for many everyday products from plastics to solvents. If oil were to run out, daily life would change greatly with less reliance on vehicles, plastics, and global transport since alternate fuels have yet to be widely adopted.
There are three key points about oil that were discussed:
1. Oil is a natural mixture of hydrocarbons that varies in density and sulfur content, with lighter crudes being more valuable.
2. Oil is refined through distillation, cracking, combining, modifying, and treating to separate it into usable products like gasoline.
3. While demand for oil is driven by economic growth, supply comes from various sources around the world including onshore and offshore wells, with the Middle East being the top production region collectively.
Crude oil is a naturally occurring fossil fuel that is an important economic resource. It is extracted through oil drilling and refined into consumer products like gasoline and kerosene. Edwin Drake drilled the first successful oil well in the US in 1859, sparking massive growth in the oil industry worldwide. OPEC was formed in 1960 by major oil exporting countries to coordinate pricing of oil on the global market. High oil prices negatively impact economies by increasing inflation, government spending on subsidies, and costs for businesses and consumers. Alternatives to oil include solar, wind, hydroelectric, and nuclear energy sources.
Crude oil is composed of hydrocarbon molecules consisting mainly of carbon and hydrogen. It is classified into two types based on its base: heavy oil with an asphalt base and light oil with a paraffin base, or oil with a mixed base. Most Middle Eastern crude oils have a mixed paraffin and naphthene base. Crude oil contains between 87-88% carbon and 11-12% hydrogen, along with smaller amounts of other elements like oxygen, nitrogen, and sulfur. It and its products are therefore known as hydrocarbons.
Lecture Notes in Modern Petroleum Refining ProcessesBarhm Mohamad
The most prolific and dynamic industries of this century are the petroleum and the petrochemical. Mankind consumes more than 2,500 million tons of oil yearly. This significantly reveals the magnitude, economic edifice, and necessity of industry. From the most primitive method of extraction and refining of petroleum, a great transformation has occurred throughout these years to materialize the modern refinery. This due to the timely inductions of the scientific and technological advancements into refinery operations. Advancements are many and knowledge is expanding, one has to keep abreast with these things.
This lecture notes describes refinery processes in a concise manner which is necessary for students in engineering college and technical institute, also who working in petroleum refineries.
The document summarizes key information about the crude oil market, including that oil is critical to the global economy and accounts for one-third of the world's primary energy supply. It discusses how crude oil prices affect factors like government finances, inflation rates, and the economies of both oil-producing and oil-importing nations. The three main crude oil benchmarks - Dubai, Brent, and WTI - are identified, and supply and demand dynamics that influence crude oil prices are outlined, including the roles of OPEC and non-OPEC producers. India's position as a major crude oil importer is also noted.
The document provides an overview of crude oil markets including key facts, figures and country profiles. It discusses the top oil producing and consuming countries. Saudi Arabia has the largest proven reserves while the US is the top consumer. China and India are major growing consumers increasing imports to meet demand. Geopolitical and economic factors influence prices along with inventories and production from OPEC.
recent oil crises seminar final presentationAman Rijal
This document discusses the history and causes of oil price slips. It begins with the origin of crude oil from plant and animal remains millions of years ago. In the early 20th century, there were fears of running out of oil as production increased. OPEC was formed in 1960 by major oil producers to negotiate higher prices. Various factors like economic crises, wars, and changes in supply and demand have impacted oil prices over time. The document also discusses OPEC's role in stabilizing oil prices and providing steady income for member countries. It outlines alternatives to oil and implications of lower oil prices for different countries and sectors.
OPEC (Organization of Petroleum Exporting Countries)Clinton Mushahary
The Organization of Petroleum Exporting Countries (OPEC) was established in 1960 by five founding members - Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It is an intergovernmental organization that coordinates and unifies oil policies among its members, with goals of stabilizing oil markets and ensuring a steady supply of oil to consumers. OPEC played a key role in the 1973 oil embargo and continues to influence global oil prices and production levels through agreements among its members, which now include 12 countries in total. Saudi Arabia is OPEC's largest producer and has significant spare capacity to influence markets.
Oil prices are determined by global supply and demand factors as well as market sentiment. In India, over 50% of petrol costs are from taxes as oil is a major source of government revenue. Rising oil prices negatively impact India's trade deficit and inflation while benefiting government finances. Major causes of high oil prices in India include supply/demand imbalances, a large vehicle using population, and absence of reforms. Steps to reduce impacts include developing alternate energy sources, energy efficiency, and maintaining economic growth.
Libya has significant oil and natural gas reserves. Its proven oil reserves are 39 billion barrels and natural gas reserves are 52 trillion cubic feet. Oil production is around 1.6 million barrels per day, with over 90% exported to European countries like Italy. Libya depends on foreign investment and expertise to develop its oil and gas resources. It has recently begun allowing more foreign companies like Occidental Petroleum and ChevronTexaco to operate in Libya and boost production. Libya also aims to increase its domestic refining capacity and natural gas exports to Europe.
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It is a dark, sticky liquid composed mainly of carbon and hydrogen. Crude oil is the world's most actively traded commodity and is refined into fuels like gasoline and diesel. The first commercial oil wells were drilled in the 1850s in Romania and India, and global crude oil consumption has exceeded 875 billion barrels to date. Crude oil futures are traded on exchanges like NYMEX and MCX, with key factors influencing prices including supply, demand, geopolitics, and weather conditions.
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It provides about 37% of the world's energy after fueling only 4% at the start of the 20th century. Crude oil varies in composition but contains mainly carbon and hydrogen, and is classified by its geographic origin, API gravity measuring density, and sulfur content, with sweet crude containing less sulfur being more valuable. Fundamental factors like supply, demand, economic conditions, and politics affect crude oil prices in addition to technical indicators used in futures markets to hedge price risk.
The main topics described in this power point presentation are
INTRODUCTION OF MINERALS
CLASSIFICATION OF MINERALS
USES OF MINERALS
WHAT IS PETROLEUM?
MAGIC OF PETROLEUM
HOW IS PETROLEUM FORMED
CONSTITUIENTS OF PETROLEUM
COMPOSITION OF PETROLEUM
WHAT IS OIL WELL?
REFINNING OF PETROLEUM
LEADING PETROLEUM PRODUCERS
Excess of USAGE LEADS TO….
HAZARDS OF PETROLEUM
hope you like it
- OPEC was founded in 1960 by 5 countries (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela) to organize and unify petroleum policies and secure stable prices. It has since expanded to 13 member countries.
- In 1973, OPEC imposed an oil embargo in response to the Yom Kippur War, which quadrupled oil prices and had significant economic impacts in the US and Europe. This established OPEC as a powerful force in global oil markets.
- In the 1980s, increased oil production from non-OPEC countries and a global recession caused a collapse in oil prices, though OPEC has since tried various policies to stabilize prices.
A critical issue that we are facing NOW. Just that the main stream media dare not report it freely. Something that All of Us Must Know by NOW.
Note that the Animation in the Slides can Only be seen with the Downloaded PPS file.
PLAN B NO BS - J. IV CARBON Oil - 20th Century's Fatal Seductress. C2 V1Start Loving
- Oil production has increased 180-fold over the 20th century, fueling population growth and modern civilization. However, the world's largest oil fields have already been discovered and global production is now in decline.
- Alternative sources like tar sands require much more energy to produce and are highly polluting. As conventional oil supplies dwindle, global competition and conflict over remaining reserves is likely to intensify.
- Agriculture has also become heavily dependent on oil to power machinery, transport food, and produce fertilizers. Declining oil supplies threaten the ability to feed the world's population in the coming decades. Difficult system-wide changes will be needed to transition to post-oil sustainable farming.
Nigeria is Africa's largest oil producer, with proven reserves of 37 billion barrels of oil and 180 trillion cubic feet of natural gas. It produces an average of 2.1 million barrels of oil per day, though production has fluctuated due to issues like oil theft. Shell is the largest operator, producing over 50% of Nigeria's oil and gas. No significant investments have been made in exploration since 2006, so reserves have not grown despite ongoing production. Future production could double to 4 million barrels daily with investments, but may fall 40% by 2020 without them.
The document discusses key oil chokepoints and supply risks globally and for India. It notes India's high dependency on oil imports which is increasing, and vulnerabilities from geopolitical disruptions to major transit routes like the Strait of Hormuz. To improve energy security, the document recommends India develop alternative energy sources, pursue strategic storage, and explore for new domestic oil fields, while also acquiring oil assets abroad.
The 1973 oil crisis began when OAPEC proclaimed an oil embargo in response to the US support of Israel. This caused oil prices to rise dramatically from $3 to $12 per barrel. India was heavily impacted as it imports most of its oil and saw effects like deterioration of its balance of payments. Petroleum is used for much more than fuel, and is essential for many everyday products from plastics to solvents. If oil were to run out, daily life would change greatly with less reliance on vehicles, plastics, and global transport since alternate fuels have yet to be widely adopted.
There are three key points about oil that were discussed:
1. Oil is a natural mixture of hydrocarbons that varies in density and sulfur content, with lighter crudes being more valuable.
2. Oil is refined through distillation, cracking, combining, modifying, and treating to separate it into usable products like gasoline.
3. While demand for oil is driven by economic growth, supply comes from various sources around the world including onshore and offshore wells, with the Middle East being the top production region collectively.
Crude oil is a naturally occurring fossil fuel that is an important economic resource. It is extracted through oil drilling and refined into consumer products like gasoline and kerosene. Edwin Drake drilled the first successful oil well in the US in 1859, sparking massive growth in the oil industry worldwide. OPEC was formed in 1960 by major oil exporting countries to coordinate pricing of oil on the global market. High oil prices negatively impact economies by increasing inflation, government spending on subsidies, and costs for businesses and consumers. Alternatives to oil include solar, wind, hydroelectric, and nuclear energy sources.
Crude oil is composed of hydrocarbon molecules consisting mainly of carbon and hydrogen. It is classified into two types based on its base: heavy oil with an asphalt base and light oil with a paraffin base, or oil with a mixed base. Most Middle Eastern crude oils have a mixed paraffin and naphthene base. Crude oil contains between 87-88% carbon and 11-12% hydrogen, along with smaller amounts of other elements like oxygen, nitrogen, and sulfur. It and its products are therefore known as hydrocarbons.
Lecture Notes in Modern Petroleum Refining ProcessesBarhm Mohamad
The most prolific and dynamic industries of this century are the petroleum and the petrochemical. Mankind consumes more than 2,500 million tons of oil yearly. This significantly reveals the magnitude, economic edifice, and necessity of industry. From the most primitive method of extraction and refining of petroleum, a great transformation has occurred throughout these years to materialize the modern refinery. This due to the timely inductions of the scientific and technological advancements into refinery operations. Advancements are many and knowledge is expanding, one has to keep abreast with these things.
This lecture notes describes refinery processes in a concise manner which is necessary for students in engineering college and technical institute, also who working in petroleum refineries.
The document summarizes key information about the crude oil market, including that oil is critical to the global economy and accounts for one-third of the world's primary energy supply. It discusses how crude oil prices affect factors like government finances, inflation rates, and the economies of both oil-producing and oil-importing nations. The three main crude oil benchmarks - Dubai, Brent, and WTI - are identified, and supply and demand dynamics that influence crude oil prices are outlined, including the roles of OPEC and non-OPEC producers. India's position as a major crude oil importer is also noted.
The document provides an overview of crude oil markets including key facts, figures and country profiles. It discusses the top oil producing and consuming countries. Saudi Arabia has the largest proven reserves while the US is the top consumer. China and India are major growing consumers increasing imports to meet demand. Geopolitical and economic factors influence prices along with inventories and production from OPEC.
The document discusses petroleum refining engineering and the petroleum industry. It provides an overview of the origin and composition of petroleum, exploration and drilling methods, and transportation of crude oil and its products. It also summarizes world petroleum resources, with India and major producing countries discussed. The organic origin of petroleum from decayed organic matter is presented as the widely accepted formation process.
Overview Of The Structure And Trends In The Global Petroleum Industryjackiech
The oil and gas industry has undergone major global structural changes in recent decades. Major oil and gas producers include OPEC countries in the Middle East and Africa, while the US and other developed countries are the largest consumers. Future production is expected to increasingly come from countries like Saudi Arabia, Venezuela, Iran and Iraq as non-OPEC supplies decline. National oil companies now play a larger role alongside private companies and competition for resources has grown internationally.
Petrodollars refer to US dollars earned by oil-exporting countries through oil sales. In the 1970s, OPEC countries agreed to price oil in dollars, recycling petrodollars through US investments. This benefited the US by increasing the global role of the dollar. However, some argue US military actions have been aimed at maintaining the petrodollar system by preventing oil producers like Iraq and Libya from pricing oil in other currencies. The future of the petrodollar may be at risk if China and Russia trade oil in other currencies instead of dollars.
This document provides an overview of petroleum energy, including its formation from fossil fuels, history of usage, refining process, reserves and supply sources, demand trends, and factors that influence oil stock levels and prices. It discusses how oil is formed from ancient plant and animal remains over millions of years, the beginnings of the modern oil industry in Pennsylvania in 1859, and how crude oil is refined into useful products like gasoline and plastics. The largest oil reserves and production are centered in the Middle East, while North America has the highest consumption. Stocks of 7-8 billion barrels worldwide help stabilize prices by balancing supply and demand.
Crude oil is a naturally occurring unrefined petroleum product composed mainly of hydrocarbons that is extracted from geological formations beneath the Earth's surface. It has a long history of use dating back to the 18th century and is a finite resource with current reserves expected to last 53 more years. The price of crude oil is influenced by production and consumption levels globally, as well as geopolitical and economic factors. It is traded on commodities exchanges and its price impacts various industries and global markets.
The document discusses various topics related to crude oil, including:
1) Where oil is found, with Saudi Arabia and Canada having the largest proven reserves, and OPEC being an organization of major oil-exporting nations.
2) The different types of oil classified by weight and chemical properties.
3) Key factors like supply, demand, and price that influence the international oil market.
4) Crude oil production and consumption trends for countries like the US, China, and India.
The document discusses the oil and gas industry in the United Arab Emirates (UAE). It notes that the UAE has significant oil and natural gas reserves, accounting for one-third of the country's GDP. Abu Dhabi is the center of the UAE's oil and gas industry, home to companies like the Abu Dhabi National Oil Company. The document provides details on the UAE's historical development of its oil and gas resources, current production levels and exports, key companies involved, and outlook for future demand and prices.
The document discusses the global oil market. It defines oil and describes the four main types. It explains that oil is made from ancient plankton and stored underground in rock pores. Oil is used for transportation fuels, asphalt, fertilizer, heating and many petrochemical products. OPEC aims to ensure fair oil prices and supply. The global market functions as a single integrated system, so factors like discoveries, production levels, economic growth, and geopolitics influence prices. Prices may rise if supply falls short of demand or fall if there is excess supply.
Crude oil is a mixture of hydrocarbons formed from the remains of ancient organisms. It is extracted using drilling rigs and transported by ship or pipeline to refineries. There, fractional distillation separates the hydrocarbons based on boiling point into useful fractions like gasoline and diesel. These are used as fuels, producing carbon dioxide and water through combustion. Cracking produces smaller hydrocarbons to better match supply and demand. Alkenes like ethene are used to produce polymers for plastics.
Global discovered resource and yet-to-find, OPEC Countries; Conventional oil and Unconventional oil, UNCONVENTIONAL PROSPECTIVE RESOURCES, Heavy crude oil, Bitumen, Oil sand, Oil shale, Deepwater oil , Polar (ARCTIC) oil , Fractured source rock, Coal liquefaction or Gas to liquids
The document discusses the history and development of the petroleum and natural gas industries. It traces how political involvement has shaped the industry over time, from the formation of OPEC in 1960 to push back control from major oil companies, to the Arab oil embargo of 1973 which significantly increased prices and shifted power to OPEC. It also provides background on the locations of petroleum refineries, focusing on clustering near oil sources, markets, or ports for transportation. Finally, it gives a brief overview of natural gas, including its composition, production by country, and some challenges around storage and transportation.
The document discusses several key topics related to the oil industry:
1. It defines measurements used to classify types of crude oil, such as API gravity, and categories like light, medium, and heavy crude.
2. It introduces important oil benchmarks like West Texas Intermediate (WTI) and Brent crude, which are used to price other crude oils around the world.
3. It discusses the work of geologist M. King Hubbert and his theory of peak oil production, which accurately predicted the peak of US oil production in the 1970s. His model is now widely used to predict production peaks for other resources.
Oil majors and traders role of opec,ocimf & intertankoKapilLamba6
The document discusses several topics related to the oil and gas industry including:
- Big Oil refers to the world's largest publicly traded oil and gas companies, also known as supermajors, which include BP, Chevron, Eni, ExxonMobil, Royal Dutch Shell, Total, and ConocoPhillips.
- OPEC is an intergovernmental organization made up of 13 oil producing countries that aims to coordinate oil policies and ensure stability in the oil market. Major OPEC members include Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela.
- INTERTANKO is an association representing independent tanker owners worldwide with over 190 members. It works on operational,
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
1. Description
Crude oil is a yellowish black mineral oil that is extracted from
under the surface of the earth. This oil is consists of a number of
hydrocarbon compounds as it is formed from the million of years
old animal and plant remnants. This mixture of hydrocarbons
remains in the liquid form under the normal atmospheric
temperature and when distilled, a number of by-products can also
be extracted. Crude oil is also an important ingredient of some
medicines due to the curing properties it has.
Crude oil can be of different types depending upon its origin and
its relative weight. Brent crude oil is one of the most important
types of crude oil and it is also considered as a benchmark in the
context of the price fixation of the other types. Brent crude oil is a
lighter type crude oil possessing API (American Petroleum
Institute) gravity of 38 to 39 units and having medium levels of
sulfur.
Overview
Oil is the single most important commodity that holds the position
of a key factor in each and every economy of the world. The
world’s richest nations are at their current positions just because
of the oil factor. The importance of oil has reached such a level at
which there is no country in the world, which doesn’t need oil and
its by-products, and if somehow it doesn’t have much reserves of
oil to meet their domestic demand, these nations are ready to
import the product at any cost. Many nations have a huge share
of their earnings constituted by oil exports only. Every industry
requires oil to function properly either directly or indirectly as both
crude oil and its by-products serve as their inputs. The extent of
2. the commodity’s importance was shown to the world when the
world’s most strong economies were shaken up as the oil prices
shot up in 1973 and 1979 when the gulf countries refused to
supply oil to the countries that were the supporters of Israel in its
war with Egypt and Syria. Crude oil alone bears 60% share to
meet the global energy needs in the current scenario. The reason
for this high share in the primary energy consumption in the world
is due to the advantages that oil has over the other constituents of
primary energy such as diverse application, comparatively lesser
harm to the environment, easy handling, lower capital costs and
above all higher efficiency.
Crude oil reserves on earth are estimated to be more than 1
trillion barrels that are mostly found in the Middle East, Eastern
Europe, Africa and Central America, Middle East being the top
reserve holder. It is a clear fact that oil is a limited resource and
would finish off in a maximum of 80 years if the current rate of
consumption continues. Of these 1 trillion barrels, the world
produces around 75 million barrels per day. The largest crude oil
producing country is Saudi Arabia followed by Russia and United
States of America. The refining capacity of oil in the world as in
2002 was 4166 million tons. The consumption of crude oil in the
world has been rising with the change in time and the
technological improvements that are accompanying it. Oil is
consumed all over the globe, consumption figures standing at 76
million barrels per day and United States of America consumes
the maximum level of oil in the world. The major consumer
countries of crude oil along with their consumption figures
pertaining to the year 2006 are
United States of America (20.7 million barrels/day)
3. China (6.5 million barrels/day)
Japan (5.4 million barrels/day)
Germany (2.6 million barrels/day)
Russia (2.6 million barrels/day)
India (2.3 million barrels/day)
Canada (2.3 million barrels/day)
Brazil (2.2 million barrels/day)
South Korea (2.1 million barrels/day)
France (2.0 million barrels/day)
Mexico (2.0 million barrels/day)
Regarding the world trade situation, one important aspect is the
presence of an organization namely OPEC that controls and
regulates the exports and imports of most of the countries of the
world. OPEC stands for ‘Organization of Petroleum Exporting
Countries’ and the members include all the 11 major crude oil
producing countries and nations that are highly dependent on the
revenues from oil and oil products. As a matter of fact, OPEC
nations have 75% of the world’s total crude oil reserves of 1
trillion barrels and control around 40% of the world oil production.
OPEC member countries also dominate the world exports of
crude oil contributing to 55% of the total world exports. The major
crude oil exporting countries with their exporting figures are
Saudi Arabia* (8.73 million barrels per day)
4. Russia (6.67 million barrels per day)
Norway (2.91 million barrels per day)
Iran* (2.55 million barrels per day)
Venezuela* (2.36 million barrels per day)
United Arab Emirates* (2.33 million barrels per day)
Kuwait* (2.20 million barrels per day)
Nigeria* (2.19 million barrels per day)
Mexico (1.80 million barrels per day)
Algeria* (1.68 million barrels per day)
Iraq* (1.48 million barrels per day)
Libya* (1.34 million barrels per day)
Kazakhstan (1.06 million barrels per day)
Qatar* (1.02 million barrels per day)
In the above list, the countries with the * sign are the member
countries of OPEC. The imports of crude oil are generally done by
the countries, which do not have appropriate reserves of oil and
are incapable of satisfying the domestic consumption demand.
The following is list of the countries with their net import figures
that are the major importers of crude oil in the world
United States of America (12.1 million barrels per day)
Japan (5.3 million barrels per day)
5. China (2.9 million barrels per day)
Germany (2.4 million barrels per day)
South Korea (2.2 million barrels per day)
France (1.9 million barrels per day)
Italy (1.7 million barrels per day)
Spain (1.6 million barrels per day)
India (1.5 million barrels per day)
Taiwan (1.0 million barrels per day)
History
The history of crude oil dates back to the 3rd or 4th century A.D
when the presence of oil was first discovered in China. The oil
that the early Chinese people found was found to have extremely
good medicinal value and was used in the salt form. To extract
that oil from under the earth’s crust, first oil wells of around 243
meters were dug up in that region with the help of bamboo poles
possessing metal tools at their end. The crude oil was also used
for the lighting purposes in Ancient Persia.
When the city of Baghdad was constructed in the 8th century, the
streets of that city were paved with tar that was easily available in
the natural oil fields in that region. With the time, man discovered
new and diversified uses of oil and hence the discovery of new oil
fields became an important requirement. People got to know the
vast amount of oil that was hidden under the earth’s surface as
many geographers started predicting it in that time.
6. All this time oil had a limited use until in 19th century; the process
of distillation of kerosene with the help of coal and rock oil was
invented. Production of oil became commercialized and it started
an era of establishment of oil refineries throughout the world. One
of the first refineries was established at Baku in Russia and it
became the world’s largest oil producing refinery. A Russian
engineer F.N Semyonov built the first ever modern oil well at the
same place in 1848. Up till 1950s coal had dominance among the
primary energy constituents but crude oil took over the leadership
in a short span of time and has still maintained its reputation.
History of crude oil in India
India was not known to the world in the context of crude oil and
it’s by-product production. As late as in 1889, the presence of oil
in India was discovered in Digboi in Assam. First crude oil refinery
in India was set up in Digboi in1901. Then the exploration and
production activities were limited to the North Eastern part of the
country. In 1958 and 1974, two more places for crude oil
production were identified namely Cambay onshore basin and
Bombay offshore basin. Initially the major international companies
were given the job to explore and produce oil in the country but
after the shock in oil prices in 1973, whole of the sector was
nationalized.
Categories of crude oil
The various types of crude oils are classified according to their
geographical originations, sulfur level and also the density of the
7. oils in some cases. For differentiation depending upon the gravity
of oils, the American Petroleum Institute (API) provides with a
basis to measure it’s density, which is called the API gravity. The
crude oils are then termed as ‘heavy’ or ‘light’ oil. They are also
divided as per the sulfur level present in them, as ‘sweet’ or ‘sour’.
But, mostly, crude oil is classified on the basis of location only as
oils from different locations have different characteristics and they
are also named after the places of origin. The main types of crude
oil according to their geographic locations are
North Sea Crudes – Considered as bench mark
API gravity – around 38.5 degrees
Sulfur level - 0.36%
Examples - Brent, Forties, Osberg, North Sea Basket, Ekofisk,
Statfjord and Flotta
West African Crudes –
API gravity - around 35 degrees
Sulfur level – 0.2%
Examples - Bonny Light, Qua Iboe, Brass River, Escravos,
Forcados and Cabinda
Persian Gulf Crudes –
API gravity –around 37 degrees
Sulfur level – 1.08%
8. Examples - Dubai and Oman assessments, Murban, Lower
Zakum, Qatar Land, Qatar marine and Banoco Arab Medium
United States Crudes –
API gravity – variable, around 39.6 degrees
Sulfur level – variable, around 0.24%
Examples - West Texas Intermediate (WTI), Mars MOC and
Mars, P - Plus WTI, WTI Calendar Delta, West Texas Sour
(WTS), Light Louisiana Sweet (LLS), Heavy Louisiana Sweet
(HLS), Engene Island, Wyoming Sweet, Bonito, Mars, Poseidon,
Basrah Light, Alaska North Slope (ANS), Line 63, P-Plus Line 63,
Thums, Kern River
Asia Pacific Crudes –
Examples - Tapis, Belinda, Cossack, Jabiru, North West Shelf,
Mirietc
Crude oil producing countries
The following is the production wise list of major crude oil
producing countries of the world
Saudi Arabia*
Russia
United States
Iran*
Mexico
9. China
Norway
Canada
Venezuela*
United Arab Emirates*
Kuwait*
Nigeria*
United Kingdom
Iraq*
The countries with * sign are the current members of OPEC.
Saudi Arabia is the leading producer of crude oil with the
production figures of 10.37 million barrels per day. The country is
followed by Russia with 9.27 barrels and United States with 8.69
barrels of production. The total produce of crude oil in the world is
75 million barrels per day with the total reserves of crude oil
estimated to be 1 trillion tons. These reserves would finish off in
around 80 years with the same rate of consumption. The OPEC
nations provide around 30 million barrels per day that accounts to
approximately 40% of world production.
Production of crude oil in India
India is not among the major producers of crude oil, as it doesn’t
have much oil reserves. That is why it generally depends on
10. imports of crude oil from other countries. However, the production
of oil and as a result the production of its by-products in India has
increased in the recent past due to exploration and findings of
new oil reserves. India currently has an estimated quantity of 5.4
billion barrels of oil reserves out of which it produces around 0.8
million barrels per day. At this production level, the oil reserves in
India would last for around 29 years. The major oil reserves of the
country are situated at
Mumbai high (Mumbai)
Upper Assam (Assam)
Cambay (Gujarat)
Krishna-Godavari basin (Andhara Pradesh)
Cauvery basin (Tamil Nadu)
Nagaland
Arunachal Pradesh
11. The largest crude oil producing oilfield is the Mumbai high field
that produces around 260000 barrels per day. Among these
production centers, major share of production i.e. 2/3rd share is
bagged by the offshore reserves as compared to onshore
reserves. The refining capacity of crude oil in India is over 2.1
million barrels per day. The refining sector in India is held by both
public and private sector, public sector being the dominating one.
Indian crude oil market
India is one of the non-OPEC countries much dependent on its
imports to fulfill the domestic consumption demand as it has a
much lower level of production. India is a developing country and
the requirement for the oil as a primary energy constituent from
the industries in the country is at its peak. The country has much
depended on coal to satisfy its energy needs in the earlier times
but the use of crude oil and gas is taking over the dominance of
coal with the change in time. Oil and gas contribute to around
45% of the country’s total energy consumption.
India has around 5.4 billion barrels of oil reserves with it and the
domestic production has increased in the recent past to reach the
0.8 million barrels per day mark. Mumbai high is the largest oil-
producing oilfield in India with a production of 2.6 lakh barrels per
day. The refining capacity of crude oil in India is estimated at
around 2.1 million barrels per day. Regarding the consumption
pattern of oil in India, it is the 6th largest consumer country in the
world having a consumption of 2.2 million barrels per day. This
leaves the country with a huge deficit in the demand-supply
12. scenario and thus 70% of the consumption is met through
imports.
India generally imports Oman-Dubai sour grade crude, Brent
dated sweet crude and Bonny light crude. The country imports
over 1.5 million barrels per day that place it at the 9th position
among the largest importers of the world. Though the Indian
production has increased in the recent times, the imports were
raised by 5% making due to the raised Indian demand of around
4.2%. The countries from which India imports crude oil are
Venezuela
Nigeria
Sudan
Iran
Kuwait
The Indian oil-refining sector has been regulated by the
government historically and is still dominated. A new private
sector has emerged after the loosening of control by the
government. The major units pertaining to the oil sector in India
are
Indian Oil Corporation (Public sector)
Oil and Natural Gas Corporation (Public sector)
Reliance India Ltd (Private sector)
Essar Oil Refinery (Private sector)
13. Bharat Petroleum Corporation Ltd (Public sector)
Hindustan Petroleum Corporation Ltd (Public sector)
Manglore Refineries and Petrochemicals Ltd (Public sector)
Market Influencing Factors
Production of the major oil producing countries
Various climatic or political supply fluctuations
World oil demand
Fluctuations in the value of dollar
Imports from various world oil organizations like API, DOE
Refinery fire
Major trading centers of crude oil
The major trading centers of crude oil in the world are
New York Mercantile Exchange (NYMEX)
International Petroleum Exchange of London (IPE)
Tokyo Commodity Exchange (TOCOM)
In India, crude oil is traded at various commodity exchanges
namely Multi Commodity Exchange of India and National
Commodity and Derivatives Exchange Ltd.