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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The Bataan Refinery is an oil refinery in Limay, Bataan, Philippines. It is owned and operated by Petron Corporation and is the largest oil refinery in the Philippines with the capacity to process 180,000 barrels per day (29,000 m 3 /d). It began operation in 1961. [2]
This includes the "Big Three", which refers to the top three companies in the oil industry: Petron, Shell, and Caltex. Historically, Seaoil was part of this grouping. [1]
"Petrocurrency" or (more commonly) "petrodollars" are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway.Especially during periods of historically expensive oil, the associated financial flows can reach a scale of hundreds of billions of US dollar-equivalents per year – including a wide range of transactions in a variety of currencies ...
Petron Corporation is the largest oil refining and marketing company in the Philippines, [4] supplying more than a third of the country's oil requirements. It operates a refinery in Limay , Bataan with a rated capacity of 180,000 barrels per day (29,000 m 3 /d).
Sharing of oil revenue become more flexible, depending upon the depth of the oil is found. The deeper the oil seeps (from 200 meters to more than 1 km), the higher the cost oil (50 to 75%). However, foreign oil companies will get higher share of profit oil (from 30 to 85%) in deep-water oil mining. [11]
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