Petroleum

price of oil. High oil prices hold different opinions with the public. When oil prices are high and the market is thriving, the gasoline prices will follow. This is where consumers dislike the higher prices, unless family members are employed in the petroleum field. This guarantees a stable jobs for those employees. You…

And another article reports that the EIA [Energy Information Administration] estimates that with these new fields, American petroleum production will increase 14% by 2020.” Not only will that just save us the money from importing all that oil and with these new fields that they are predicting we are going to have means that there is going to be more job openings for people that…

Hydraulic fracturing, also known simply as fracking, is a process used to extract natural gas and oil from beneath the earth’s surface. This process is accomplished by drilling a well and pumping pressurized water, proppants such as sand, and chemicals into that well; the result of this process is that fractures occur within the targeted layer of shale rock, which allow for extraction of the desired gas and oil (Hyder and Lerner 2250). As a cleaner burning fuel, natural gas continues to be an…

Hengyuan Refining Company Berhad (HRC) Hengyuan Refining Company Berhad (HRC) is operated in refining, manufacturing, and sell petroleum products in Malaysia. HRC was formerly known as Shell Refining Company Berhad and changed its name into Hengyuan Refining Company Berhad in March 2017, and it is also a subsidiary of Malaysia Hengyuan International Limited. The company was established in 1960 and is based on Port Dickson, Malaysia. HRC began their operations in 1963 with a single crude…

The world has solely relied on fossil fuels to supply us energy. Alone petroleum, coal, natural gas, and oil makes up eighty-one percent of the United States of America’s energy. If the world does not push to use alternative energy, eventually completely switching to alternative energy, leaving fossil fuels in the past, we will never stop some of the environmental problems contributed with burning fossil fuels. Some of the harsh environmental problems are air pollution, water pollution, and oil…

In 1956, M. King Hubbert, a geologist, created a theory that world oil production is following bell-shaped curve of rise – peak – and decline. After the maximum rate of petroleum oil is being extracted, it will reach a certain point of oil will reach peak and then slowly start to decline regardless of the demand. Hubbert said that by the year 1970 the world would reach this peak point which is started with companies extract the easy oil first and after that drawing oil will become harder and…

discovered. These products were able to be produced and marketed for different purposes, which, in turn, made profits go up. A combustion engine was also being put to use that required gasoline, which once again increased profits, and demand for petroleum products. John D. Rockefeller took very questionable actions, most of which angered others, to create this monopoly of the oil industry in the United States.…

spend billions annually on energy security. A lot of that money goes into securing world oil chokepoints, to guarantee the continuous flow of oil into global markets. Global oil transit chokepoints are critical areas along the sea movement of petroleum in terms of the global energy security. Geographically, chokepoints are narrow channels that divide to…

environment. I am going to investigate three fossil fuels which are Petrol, Diesel and Ethanol. Petrol is a light fuel oil that is obtained by distilling petroleum and is used in internal combustion engines. Petrol is a fossil fuel which can be known as a natural gas, petrol can also be referred to as propane. Propane is liquefied petroleum gas, its a product of both crude oil and natural gas. Because propane is derived from these two fossil fuels, its effect on the environment can be…

Through the implementation of the decree “Heroes del Chaco” by Evo Morales (2006), Petrobras was basically forced to enter a Joint Venture with the Bolivian state-owned gas company YPFB, disadvantaging the Brazilian firm. As identified by Simon (1976), rationality is bounded and omniscient decision-making is impossible. Companies therefore need to rely on the incomplete and limited information available. When entering the Bolivian market in the 1990s, there had been no signs pointing towards the…