Introduction to Petroleum Economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. It discusses the science of petroleum economics, starting from square-one, the tools of the trade that petroleum economists use, day in and day out, and also its application. Along the way the author relates some helpful and informative anecdotes based on his almost twenty-year career as a petroleum economist. Vital for all oil professionals as well as students, Introduction to Petroleum Economics unravels the decision-making behind why a petroleum project moves ahead or ends
The perfect primer for both the layperson and the engineer, for the new hire and the old hand, describing, in easy-to-understand language, one of the biggest and most lucrative industries in the world. There is only one substance known to mankind that can cause wars, influence global economies, and make entire countries rich: petroleum. One teaspoon of the stuff carries enough energy to power a ton truck up a hill. It's in the news every single day, it influences our lives in ways that we cannot fathom, and it is the most important commodity in the world. But how much does the average person, even the average engineer, know about it? This book describes the petroleum industry, in easy-to-understand language, for both the layperson and engineer alike. From the economics of searching for oil and gas to the pitfalls of drilling and production, getting it out of the ground, into pipelines, into refineries, and, finally, into your gas tank, this book covers the petroleum industry like no other treatment before. There is coverage of pricing and the economics of this very important resource, as well, which is useful not only to engineers, but to economists and, really, anyone who uses it. From jet fuel to gasoline to natural gas and plastics, petroleum is one of the integral products of our lives. We are practically bathed it in from birth, our food is protected by it, and it even has healing properties. Learn all about this incredible substance and its fascinating history and highly debated future. An Introduction to Petroleum Technology, Economics, and Politics: Gives a thorough summary of the petroleum and natural gas industry, from prospect to production to pipeline New technologies, such as directional and underbalanced drilling, are covered, in easy-to-understand language Useful not only for newcomers and laypersons, but for engineers and students, particularly those for whom English is a second language Examines the basics of pricing and valuation
Presents key concepts and terminology for a multidisciplinary range of topics in petroleum engineering Places oil and gas production in the global energy context Introduces all of the key concepts that are needed to understand oil and gas production from exploration through abandonment Reviews fundamental terminology and concepts from geology, geophysics, petrophysics, drilling, production and reservoir engineering Includes many worked practical examples within each chapter and exercises at the end of each chapter highlight and reinforce material in the chapter Includes a solutions manual for academic adopters
This book on hydrocarbon exploration and production is the first volume in the series Developments in Petroleum Science. The chapters are: The Field Life Cycle, Exploration, Drilling Engineering, Safety and The Environment, Reservoir Description, Volumetric Estimation, Field Appraisal, Reservoir Dynamic Behaviour, Well Dynamic Behaviour, Surface Facilities, Production Operations and Maintenance, Project and Contract Management, Petroleum Economics, Managing the Producing Field, and Decommissioning.
Fundamentals of Petroleum Refining presents the fundamentals of thermodynamics and kinetics, and it explains the scientific background essential for understanding refinery operations. The text also provides a detailed introduction to refinery engineering topics, ranging from the basic principles and unit operations to overall refinery economics. The book covers important topics, such as clean fuels, gasification, biofuels, and environmental impact of refining, which are not commonly discussed in most refinery textbooks. Throughout the source, problem sets and examples are given to help the reader practice and apply the fundamental principles of refining. Chapters 1-10 can be used as core materials for teaching undergraduate courses. The first two chapters present an introduction to the petroleum refining industry and then focus on feedstocks and products. Thermophysical properties of crude oils and petroleum fractions, including processes of atmospheric and vacuum distillations, are discussed in Chapters 3 and 4. Conversion processes, product blending, and alkylation are covered in chapters 5-10. The remaining chapters discuss hydrogen production, clean fuel production, refining economics and safety, acid gas treatment and removal, and methods for environmental and effluent treatments. This source can serve both professionals and students (on undergraduate and graduate levels) of Chemical and Petroleum Engineering, Chemistry, and Chemical Technology. Beginners in the engineering field, specifically in the oil and gas industry, may also find this book invaluable. - Provides balanced coverage of fundamental and operational topics - Includes spreadsheets and process simulators for showing trends and simulation case studies - Relates processing to planning and management to give an integrated picture of refining
Petroleum refiners must face billion-dollar investments in equipment in order to meet ever-changing environmental requirements. Because the design and construction of new processing units entail several years’ lead time, refiners are reluctant to commit these dollars for equipment that may no longer meet certain conditions when the units come on stream. Written by experts with both academic and professional experience in refinery operation, design, and evaluation, Petroleum Refining Technology and Economics, Fifth Edition is an essential textbook for students and a vital resource for engineers. This latest edition of a bestselling text provides updated data and addresses changes in refinery feedstock, product distribution, and processing requirements resulting from federal and state legislation. Providing a detailed overview of today’s integrated fuels refinery, the book discusses each major refining process as they relate to topics such as feedstock preparation, operating costs, catalysts, yields, finished product properties, and economics. It also contains end-of-chapter problems and an ongoing case study.
Please contact the authors at [email protected] for details of how to access the trial version of Crystal Ball, as well as the Excel and other files which are *not* part of the e-book version download. "This is a book no deal team should be without. It is a must for those involved in upstream oil and gas transactions, planning, budgeting, investment appraisal and portfolio management. Its step–by–step approach cuts through complexity, making it comprehensive and understandable by a wide range of users with a wide range of abilities. It can be used as a textbook, an introductory primer or as a handbook that you can dip in and out of or read cover to cover." —Michael Lynch-Bell, Senior Advisor, Oil & Gas, Ernst & Young LLP; ex-officio Chairman, UN Expert Group on Resource Classification In the upstream petroleum industry, it is the value of post–tax cashflows which matters most to companies, governments, investors, lenders, analysts, and advisors. Calculating these cashflows and understanding their “behavior,” however, is challenging, as the industry’s specialized fiscal systems can be complex, jargon–laden, and sometimes seem to be a “world of their own”. Upstream Petroleum Fiscal and Valuation Modeling in Excel: A Worked Examples Approach demystifies fiscal analysis which, unlike disciplines such as Earth sciences and engineering, can be learned from a book. Written in plain English for laymen and for experienced practitioners alike, it is a reader–friendly, clear, practical, step–by–step hands–on guide for both reference and self–paced study. The book does not catalogue the 100+ different petroleum fiscal regimes in use at the time of writing. Rather, drawing on the authors’ combined 48 years’ experience, it takes a more timeless, generic treatment, by covering the most common variants of royalties, taxation, production sharing arrangements, bonuses and abandonment funding , through a dual approach: first, showing how to model them in Excel , and then providing interactive exercises to prompt (and answer) questions that analyze impacts on cashflows. In addition to the main text, the book consists of over 120 Excel files (ranging from modular examples to full models) in Excel 2007 and 2003 formats; over 400 pages of supplementary PDF files; VBA features to enhance model functionality; and an introduction to risk modeling with exercises for the included trial version of Oracle’s Crystal Ball software. It offers both a wealth of content and models equal to or surpassing what is available from fiscal modeling courses costing several times more; and greater insights into underlying calculations than commercially available “black box” fiscal software. New US Securities and Exchange Commission (SEC) rules planned for 2013 will force petroleum companies to disclose more fiscal information on an individual country basis. This will make it more important than ever for analysts to understand how to model oil and gas terms and the potential impacts of the disclosed government payments on future oil and gas company profitability. Due to the heavy use of graphics and cross references used in this particular text, some readers might find that the printed book offers a more optimal reading experience than certain e-formats particularly with the Kindle eMobi format.
