05.07.2009
Gases that keep the earth’s surface warmer than it would otherwise
The term Greenfield in the context of energy markets is described to define markets that are at their initial stages of development. A Greenfield market in the natural gas economy would thus be one with a limited number of gas suppliers, few consumers, not fully developed infrastructure (such as transmission and distribution systems), lack of experience, lack of a body of professionals, a dearth of relevant legislation, etc. At the other end of the spectrum we have a mature market place or a brownfield
The Earth’s gravitational field, or the attractive force produced by the mass of the Earth. Variations in the gravitational field can be used to map changes in the density of formations in the Earth. Gravity surveys can be used to map the extent or depth of sedimentary basins or even individual hydrocarbon prospects
The Group’s principal activities are the exploration, local purchase, import, marketing, distribution and transportation of crude oil and thickened hydrocarbonic gas. It is also involved in the manufacture and sale of motor oils, industrial oils, petrol, chemicals, paints and coatings. Its other activities include the operation of public petrol stations and investment in real estate for renting
Originally intended to prevent black people from voting in the US (if a person’s grandfather was not permitted to vote, neither was he). The term has come to refer to the fact that certain laws may not be applicable in certain circumstances due to preexisting facts.
In the context of resource contracts, a stabilization clause seeks to address a party’s concerns that the state may, in the future, reverse policies upon which the agreement was entered into, for example, the petroleum laws or taxation regime. The clause attempts to maintain the original contract equilibrium.
Thus, O&G companies who work in developing countries often seek the grandfathering of regulations, tax treaties, etc. or namely a state guarantee that they will not suffer unduly if regulations change . The stabilization clause in fact restricts a future government’s ability to change tax rates or pass any new law which affects the oil and gas company’s profits
Gas field located 130 km off the northwest coast of Western Australia (Chevron is the operator) which contains some 40 tcf of gas and is Australia’s largest undeveloped gas field
The requirement for ‘good prospect’ originates from the approved code of practice in relation to the 1995 Prevention of Fire, Explosion and Emergency Response (PFEER) regulations issued by the UK Government. These regulations in conjunction with the Manning and Administration Regulations (MAR) and Design and Construction Regulations (DCR) are the key pieces of legislation that implement the findings and recommendations of Lord Cullen, who presided over the Piper Alpha Disaster inquiry. ‘Good prospect’ equates to the ability to rescue personnel from the sea and recover them to a place of safety, in all but the most severe of weather conditions, within prescribed survival time limits. Traditionally, this work has been undertaken by SSVs (standby safety vessels) or a mixture of SSVs and helicopters. The critical issue is how long a person can survive at sea (e.g. the north sea) after escaping from a rig >
Goldman Sachs is the world’s largest securities firm that is also one of the world’s oil price prognosticators and the most active investment bank in the energy market. These companies are also oil industry analysts
Theory that the temperature of the earth is being increased due to man-made, but also non-made made, emissions of GHGs (greenhouse gases).
The greenhouse effect is caused by molecules that absorb infrared radiation released from the Earth’s surface, trapping heat in the atmosphere.
It is, however, a long time scientific fact (not connected to man-made emissions) that greenhouse gases, mainly CO2 but also methane, contribute to warming the Earth. Without the approximately 34°C temperature increase due to these gases, the Earth would be very cold instead of an average observed global temperature of ~15°C. Thus, the human contribution is merely changing the greenhouse gas warming from 34°C to say 36°C. But even a tiny extra 2°C will cause big problems.
IEA’s 2008 forecast for global oil demand stands at 86.5 million b/d and OPEC’s forecast is 87.07 million b/d. IEA forecasts global demand to average 98.5 million b/d by 2015. Global demand for oil will increase to 106 million b/d by 2030. The main centers of increasing demand are in Indian, China and the other Asian countries, although continuously high prices, environmental concerns and renewable energy may have a significant influence on decreasing demand for petroleum