Futures and Commodities
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Global Strategic Petroleum Reserves (GSPR): Understanding Energy Security
What Are the Global Strategic Petroleum Reserves (GSPRs)? The global strategic petroleum reserves (GSPR) are stockpiles of crude oil maintained by nations and by private industries as a he
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Shale Oil vs. Oil Shale: Understanding the Key Differences
Oil Shale vs. Shale Oil: An Overview Hydraulic fracturing (also called fracking) technology has enabled oil and gas producers to tap reserves in shale formations across North America. The oil c
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FERC: Understanding the Federal Energy Regulatory Commission
What Is the Federal Energy Regulatory Commission? The Federal Energy Regulatory Commission (FERC) is an independent agency that regulates the interstate transmission of electricity, natural gas
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International Petroleum Investment Company (IPIC) - Overview & History
Definition of the International Petroleum Investment Company (IPIC) The International Petroleum Investment Company (IPIC) is a government-owned investment organization that manages the sovereig
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Understanding Downstream Oil & Gas Operations: Refining & Production
What Are Downstream Operations? Downstream operations are the processes involved in converting oil and gas into the finished product. These include refining crude oil into gasoline, natural gas
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Barrel of Oil Equivalent (BOE): Definition & Significance
What Is a Barrel of Oil Equivalent (BOE)? A barrel of oil equivalent (BOE) is a term used to summarize the amount of energy that is equivalent to the amount of energy found in a barrel of crude
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Understanding Area of Mutual Interest (AMI) Agreements in Oil & Gas
What Does Area Of Mutual Interest Mean? Area of mutual interest (AMI) is a defined geographic location in which two or more oil or natural gas companies have a stake. An area of mutual interest
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John D. Rockefeller: The Rise of an Oil Tycoon & Business Innovator
John D. Rockefeller (July 8, 1839–May 23, 1937) continues to rank as one of the richest men in modern times. He remains one of the great figures of Wall Street—reviled as a villain, applauded as an
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Saudi Arabia: The World's Leading Oil Producer - Production & Reserves
The Kingdom of Saudi Arabia is often cited as the worlds largest oil producer. The country produces 13.24% of the oil consumed in the entire world daily. Saudi Arabia has the second-largest reserves
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Leading Oil Companies Driving Environmental Sustainability
Oil companies are more concerned with their public images than ever before, especially pertaining to the environmental impact of their operations. Under pressure from the U.S. Department of Energy,
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Understanding Intangible Drilling Costs (IDC) in Oil & Gas
What Are Intangible Drilling Costs (IDC)? Intangible drilling costs (IDC) are expenses related to developing an oil or gas well that are not a part of the final operating well. They include cos
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Crude Oil & Gas Prices: Understanding the Connection
When the price of gas rises, it impacts how people travel, how goods are shipped, and how people formulate their budgets. When home heating prices climb, people have to decide whether or not they ca
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Barrels Per Day (B/D): Understanding Oil Production Metrics
What Is Barrels Per Day (B/D)? Barrels per day (B/D) is a measure of oil output, represented by the number of barrels of oil produced in a single day. For example, you might hear country ABC ha
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Oil Prices & Inflation: Understanding the Connection
Oil prices and levels of inflation are often seen as being connected in a cause-and-effect relationship. As oil prices move up, inflation—which is the measure of general price trends throughout the
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OPEC+ and Global Oil Prices: Understanding the Influence
Many of the largest oil-producing countries in the world are part of a cartel known as the Organization of the Petroleum Exporting Countries (OPEC). In 2016, OPEC allied with other top non-OPEC oil-
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Oil Well Production Timeline: From Drill to First Oil
Depending on the depth of drilling required and the type of drilling method used, a standard oil well can commonly advance from drilling to the beginning of production for an oil company within one
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Top Global State-Owned Oil Companies: A Revenue Ranking
Government-controlled companies dominate the ranks of the worlds largest energy producers. In fact, based on revenues for 2019, the top three biggest energy-producing companies are state-owned
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Oil Prices: Understanding the Impact of Supply & Demand
The law of supply and demand primarily affects the oil industry by determining the price of the black gold. Expectations about the price of oil are the major determining factors in how companies in
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Understanding Crack Spreads: A Key Indicator in the Oil & Gas Industry
What Is a Crack Spread? A crack spread refers to the overall pricing difference between a barrel of crude oil and the petroleum products refined from it. It is an industry-specific type of gros
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Understanding Estimated Ultimate Recovery (EUR) in Oil & Gas
What Is Estimated Ultimate Recovery? Estimated ultimate recovery (EUR) is a production term commonly used in the oil and gas industry. Estimated ultimate recovery is an approximation of the qua
Futures and Commodities
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Create a Business Plan Online: Tools & TemplatesIn the past, you basically had to get an MBA to create a viable business plan. Thankfully, there are plenty of tools now that you can use to generate a business plan online. The small business...
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Non-Recourse Factoring: Protect Your Business from Bad DebtThere are two different types of factoring availa...
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Best Jobs for Retirees: High-Paying Opportunities & Career TransitionsWhether you’re a retiree who has just graduated with a new degree or just want to return to the workforce, there are high-paying jobs that welcome seasoned employees. But before you submit...
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Effective Household Budgeting: A Practical Guide©iStockphoto/JulNichols You probably like to make money, but chances are that you only have a vague idea of where it goes. Budgets can help with that, especially when your financial situation ...