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Oil Constant
The term crude oil constant (''Erdölkonstante'' in German) has been used as an inside joke and pun in the German petroleum industry, pointing out that the reserves-to-production ratio has been observed as roughly constant in the past decades, whereas oil constant (''Ölkonstante'' in German) is a term describing various material properties of (vegetable and mineral) oils. Reasons for reserve expansion The so-called crude oil constant refers to the approximately constant estimate of available petroleum reserves to production ratio ''R/P''. The estimated duration until the available petroleum reserves are depleted at current production has remained around 40 years since the late 80s. Prewar and immediately postwar estimates were sometimes lower, in 1919 as low as 9 years (USA) and in 1948 around 20 years (world) and rose up to 35 years until the 1970s. However, since then the duration value of static production T=R/P has been rather constant for decades despite rising oil consump ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude oil and petroleum products that consist of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both prolonged heat and pressure. Petroleum is primarily recovered by oil drilling. Drilling is carried out after studies of structural geology, sedimentary basin analysis, and reservoir characterisation. Recent developments in technologies have also led to exploitation of other unconventional reserves such as oil sands and oil shale. Once extracted, oil is refined and separated, most easily by distillation, into innumerable products for direct use or use in manufacturing. Products include fuels such as gasol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude oil and petroleum products that consist of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both prolonged heat and pressure. Petroleum is primarily recovered by oil drilling. Drilling is carried out after studies of structural geology, sedimentary basin analysis, and reservoir characterisation. Recent developments in technologies have also led to exploitation of other unconventional reserves such as oil sands and oil shale. Once extracted, oil is refined and separated, most easily by distillation, into innumerable products for direct use or use in manufacturing. Products include fuels such as gasol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fusion Power
Fusion power is a proposed form of power generation that would generate electricity by using heat from nuclear fusion, nuclear fusion reactions. In a fusion process, two lighter atomic nucleus, atomic nuclei combine to form a heavier nucleus, while releasing energy. Devices designed to harness this energy are known as fusion reactors. Research into fusion reactors began in the 1940s, but as of 2022, only one design, an Inertial confinement fusion, inertial confinement laser-driven fusion machine at the US National Ignition Facility, has conclusively produced a positive fusion energy gain factor, i.e. more power output than input. Fusion processes require fuel and a confined environment with sufficient temperature, pressure, and confinement time to create a plasma (physics), plasma in which fusion can occur. The combination of these figures that results in a power-producing system is known as the Lawson criterion. In stars, the most common fuel is hydrogen, and gravity provides ext ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clausthal University Of Technology
The Clausthal University of Technology (german: Technische Universität Clausthal, also referred to as TU Clausthal or TUC) is an institute of technology ('' Technische Universität'') in Clausthal-Zellerfeld, Lower Saxony, Germany. The small public university is regularly ranked among the Top German universities in engineering by CHE University Rankings. More than 30 % of students and 20 % of academic staff come from abroad, making it one of the most international universities in Germany. The university is best known for the prominent corporate leaders among its former students. In 2011, five of the 30 leading companies within the German stock index had alumni of TUC on their management board. Two of them as CEO. History The academy of the local Hanoverian mining authority was established in 1775 at Clausthal in the Harz mountain range with its centuries-long history of mining in the Upper Harz (most notably at the Rammelsberg). Initially a school for pitmen and smelter wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OPEC Declared Reserves 1980-now EIA
The Organization of the Petroleum Exporting Countries (OPEC, ) is a cartel of countries. Founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), it has, since 1965, been headquartered in Vienna, Austria, although Austria is not an OPEC member state. , the 13 member countries accounted for an estimated 44 percent of global oil production and 81.5 % of the world's proven oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called " Seven Sisters" grouping of multinational oil companies. The formation of OPEC marked a turning point toward national sovereignty over natural resources, and OPEC decisions have come to play a prominent role in the global oil market and international relations. The effect can be particularly strong when wars or civil disorders lead to extended interruptions in supply. In the 1970s, restrictions in oil production led to a dramatic r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Reserves
An oil is any polarity (chemistry), nonpolar chemical substance that is composed primarily of Hydrocarbon, hydrocarbons and is hydrophobe, hydrophobic (does not mix with water) & lipophilicity, lipophilic (mixes with other oils). Oils are usually flammable and surfactant, surface active. Most oils are unsaturated lipids that are liquid at room temperature. The general definition of oil includes classes of chemical compounds that may be otherwise unrelated in structure, properties, and uses. Oils may be animal fats, animal, vegetable oil, vegetable, or petrochemical in origin, and may be Volatility (chemistry), volatile or non-volatile. They are used for food (e.g., olive oil), fuel (e.g., heating oil), medical purposes (e.g., mineral oil), lubrication (e.g. motor oil), and the manufacture of many types of paints, plastics, and other materials. Specially prepared oils are used in some religious ceremonies and rituals as purifying agents. Etymology First attested in English 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orinoco Belt
The Orinoco Belt is a territory in the southern strip of the eastern Orinoco River Basin in Venezuela which overlies the world's largest deposits of petroleum. Its local Spanish name is ''Faja Petrolífera del Orinoco'' (Orinoco Petroleum Belt). The Orinoco Belt is located in Guárico and south of the Anzoátegui, Monagas, and Delta Amacuro states, and it follows the line of the river. It is approximately from east to west, and from north to south, with an area about . Oil reserves The Orinoco Belt consists of large deposits of extra heavy crude. Venezuela's heavy oil deposits of about , found primarily in the Orinoco Petroleum Belt, are estimated to approximately equal the world's reserves of lighter oil. Petróleos de Venezuela S.A. has estimated that the producible reserves of the Orinoco Belt are up to which would make it the largest petroleum reserve in the world, slightly ahead of the similar unconventional oil source in the Athabasca oil sands, and before Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venezuela Oil Reserves
Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. It has a territorial extension of , and its population was estimated at 29 million in 2022. The capital and largest urban agglomeration is the city of Caracas. The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana. The Venezuelan government maintains a claim against Guyana to Guayana Esequiba. Venezuela is a federal presidential republic consisting of 23 states, the Capital District and federal dependencies covering Venezuela's offshore islands. Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Reserves To Production Crude Oil
In its most general sense, the term "world" refers to the totality of entities, to the whole of reality or to everything that is. The nature of the world has been conceptualized differently in different fields. Some conceptions see the world as unique while others talk of a "plurality of worlds". Some treat the world as one simple object while others analyze the world as a complex made up of many parts. In ''scientific cosmology'' the world or universe is commonly defined as " e totality of all space and time; all that is, has been, and will be". '' Theories of modality'', on the other hand, talk of possible worlds as complete and consistent ways how things could have been. ''Phenomenology'', starting from the horizon of co-given objects present in the periphery of every experience, defines the world as the biggest horizon or the "horizon of all horizons". In ''philosophy of mind'', the world is commonly contrasted with the mind as that which is represented by the mind. ''Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hydraulic Fracturing
Fracking (also known as hydraulic fracturing, hydrofracturing, or hydrofracking) is a well stimulation technique involving the fracturing of bedrock formations by a pressurized liquid. The process involves the high-pressure injection of "fracking fluid" (primarily water, containing sand or other proppants suspended with the aid of thickening agents) into a wellbore to create cracks in the deep-rock formations through which natural gas, petroleum, and brine will flow more freely. When the hydraulic pressure is removed from the well, small grains of hydraulic fracturing proppants (either sand or aluminium oxide) hold the fractures open. Hydraulic fracturing began as an experiment in 1947, and the first commercially successful application followed in 1950. As of 2012, 2.5 million "frac jobs" had been performed worldwide on oil and gas wells, over one million of those within the U.S. Such treatment is generally necessary to achieve adequate flow rates in shale gas, tight gas, tig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steam Injection (oil Industry)
Steam injection is an increasingly common method of extracting heavy crude oil. Used commercially since the 1960s, it is considered an enhanced oil recovery (EOR) method and is the main type of thermal stimulation of oil reservoirs. There are several different forms of the technology, with the two main ones being Cyclic Steam Stimulation and Steam Flooding. Both are most commonly applied to oil reservoirs, which are relatively shallow and which contain crude oils which are very viscous at the temperature of the native underground formation. Steam injection is widely used in the San Joaquin Valley of California (US), the Lake Maracaibo area of Venezuela, and the oil sands of northern Alberta,Canada. Another contributing factor that enhances oil production during steam injection is related to near-wellbore cleanup. In this case, steam reduces the viscosity that ties paraffins and asphaltenes to the rock surfaces while steam distillation of crude oil light ends creates a small ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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