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In the fossil fuel industries, hydrocarbon refers to naturally occurring petroleum, natural gas and coal, or their hydrocarbon derivatives and purified forms. Combustion of hydrocarbons is the main source of the world's energy. Petroleum is the dominant raw-material source for organic commodity chemicals such as solvents and polymers.
The reservoir is a porous and permeable lithological unit or set of units that holds the hydrocarbon reserves. Analysis of reservoirs at the simplest level requires an assessment of their porosity (to calculate the volume of in situ hydrocarbons) and their permeability (to calculate how easily hydrocarbons will flow out of them). [2]
Flaring a flow test, the first outward indication of a new oil or gas discovery, which has the potential to qualify for reserves assessment. Oil and gas reserves denote discovered quantities of crude oil and natural gas (oil or gas fields) that can be profitably produced/recovered from an approved development.
Reservoir engineers also play a central role in field development planning, recommending appropriate and cost-effective reservoir depletion schemes such as waterflooding or gas injection to maximize hydrocarbon recovery.
Paraffinic hydrocarbons are part of the alkane series, [10] and are the most common hydrocarbon found in crude oil. [11] Paraffins are often a part of gasoline, making them comparatively more valuable. [11] Paraffinic hydrocarbons are also known as alkanes, and are represented by the formula C n H 2n+2, where n is a positive integer. [12]
Hydrocarbon exploration is a high risk investment and risk assessment is paramount for successful project portfolio management. Exploration risk is a difficult concept and is usually defined by assigning confidence to the presence of the imperative geological factors, as discussed above.
In chemistry, a hydrocarbon is an organic compound consisting only of carbon and hydrogen. They all consist of carbon backbone and atoms of hydrogen attached to that backbone, also see aliphatic hydrocarbons.
Hydrocarbon price volatility, particularly in the context of hydrocarbon economies, is a complex phenomenon impacted by a confluence of geopolitical, economic, and market factors. The period between 2010 and 2014, where hydrocarbon prices hovered around USD 100 per barrel, followed by a dramatic decline in 2016 to about USD 30 per barrel ...