Petroleum industry

Our world is powered by petroleum and its by-products during refining. We enter wars, betray allies, and punish innocent lives all for the opportunity to rejoice in the lucrative industry of petroleum. It is like a sweet stash of candy for the sweet tooth. It doesn’t last forever or replenish once in a while and whoever has control over its extraction is the most formidable of the land. Long before the use of the golden oil humans were able to drive off the frigid winds of long winters with the…

shortages, causing long lines at gasoline stations, people were encouraged to conserve energy by turning down their heating systems and refraining from putting up holiday lights. Moreover, the energy crisis was a huge blow to the American automotive industry, which had for decades turned out bigger and bigger cars and would now be outpaced by Japanese manufacturers producing smaller and more fuel-efficient models. However, when the oil embargo was lifted in March 1974, oil prices remained high…

OPEC and the U.S. Economy OPEC (Organization of the Petroleum Exporting Countries) was founded in Baghdad in 1960. It originally had five members; Iraq, Iran, Saudi Arabia, Kuwait, and Venezuela. In 1965 the headquarters for OPEC moved to Vienna where it remains today. OPEC is currently made up of thirteen countries and they are responsible for over 40% of the world’s oil production as well as over 70% of the world’s proven oil reserves. OPEC’s mission statement, according to its official…

purchase 51% controlling stake in Cairn India (“Cairn India”), for a consideration of (reportedly) USD 9.6 billion. Cairn India is a subsidiary of Cairn Energy Plc, a listed entity in the United Kingdom, a leading player in the Indian oil and gas industry. The deal was structured to include a non-compete fee into the price of the shares of the promoters of Cairn India. One of the advantages on Cairn-Vedanta deal having been finalized prior to the Revised Takeover Regulations coming into force…

What is Styrofoam? Styrofoam is a brand of closed-cell extruded polystyrene foam currently created for thermal insulation and craft applications. Dow Chemical Company retained and produced the Styrofoam. Through petroleum product known as styrene, Styrofoam was created. The styrene is amended into a clear molten mass of polystyrene through a complex chemical process known as polymerization. It would become a hard plastic if it were left to cool. Disposable eating utensils are created from this…

apocalyptic proportions. This facility was built as a Ultra deepwater dynamically positioned submersible offshore drilling rig. This rig was owned by Transocean. It was built in 2001 in South Korea by the company Hyundai heavy industry. This particular rig was leased by British Petroleum during the time of the spill. In 2009 the rig gained the title of the deepest drill ever built (Reaching a depth of 35,050 feet). The cost value of this plant was around 560 million dollars. This expensive…

Mexico’s Modern Problems In the early years of Mexico there were many problems. They had to become an independent nation, which took many brave lives and quite some time. Then Mexico had a dispute over land with the United States that resulted in a war. After that they had a financial problem that put an even larger gap between the rich and the poor. Mexico had to overcome all of this, then many years later they were a mostly civilized country. That leads into the next set of problems that…

first video of the documentary is “Our Plan” which takes place in the late 1800’s and early 1900’s. It starts with the beginning and discovery of oil, also called petroleum back in those times. The tone was very reflective for me due to all the information that the video supplied the viewers with. It goes into detail about how the industry started and what came about it once everyone realized how valuable oil really was. There was so much that I really took in and really enjoyed learning about.…

mainly deals with the energy corporation in which they produce safe, reliable energy to others now and for the future. Chevron Corporation was established in 1879 which generally deals with the energy products such as oil, gas, and geothermal energy industries such as marketing, refining, production, exploration, and sales. Chevron has been very successful company of standard oil, where their main headquarter is in San Ramon, California, and they have been part of more than 180 countries across…

The Chinese government aims to copy the success fracking industry had in United States, which has transformed the energy picture of the United States entirely in the past decades. The technology was first discovered in the United States in 1950s as an experimental technology, and was used in over 3,000 wells. By the 1970s, the Organization of the Petroleum Exporting Countries (OPEC) imposed a regulations on petroleum exports and oil production in the United States, leading to rising gasoline…