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The terms hydrocarbon accounting and allocation are sometimes used interchangeably. [ 2 ] [ 3 ] Hydrocarbon accounting has a wider scope, taking advantages of allocation results, it is the petroleum management process by which ownership of extracted hydrocarbons is determined and tracked from a point of sale or discharge back to the point of ...
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 ...
The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, [1] as well as the marketing and distribution of products derived from crude oil and natural gas.
Natural gasoline is a liquid hydrocarbon mixture condensed from natural gas, similar to common gasoline (petrol) derived from petroleum.. The chemical composition of natural gasoline is mostly five- and six-carbon alkanes (pentanes and hexanes) with smaller amounts of alkanes with longer chains. [1]
The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. [1] [2] The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas ...
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.
In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. [ 1 ] : 620 Hydrocarbons are examples of group 14 hydrides . Hydrocarbons are generally colourless and hydrophobic ; their odor is usually faint, and may be similar to that of gasoline or lighter fluid .
After a hydrocarbon occurrence has been discovered and appraisal has indicated it is a commercial find, the production stage is initiated. This stage focuses on extracting the hydrocarbons in a controlled way (without damaging the formation, within commercial favorable volumes, etc.).