Until as recently as the late 1970s, the main channel for oil distribution was the integrated system of the major oil companies, while the volume of spot trading was limited to roughly 5 percent of the total oil trade. Today, spot and spot-related deals account for 80 to 85 percent of internationally traded petroleum, and have ushered in a new era of petroleum trading. In this work, Hossein Razavi and Fereidun Fesharaki offer a detailed study of the workings and issues surrounding today's oil trading market as they apply to all parties involved in the production, distribution, and consumption of petroleum. They provide a complete description of petroleum spot markets, futures, and options trading, and their interlinkages with contract sales. Razavi and Fesharaki cover a wide range of topics, and challenge the generally accepted view that spot and futures trading have wrested the power of price setting away from OPEC. They claim that prices are still determined by supply, which OPEC continues to influence. The book is divided into four sections, beginning with an overview of recent developments in spot, futures, and contract trading. Section two provides an analysis of spot and spot-related deals, while the third section describes the mechanics, organization, and evolution of petroleum futures markets and options trading. The work concludes with an in-depth section on interlinkages, examining the interactions among various segments of the market, including spot and futures trading, petroleum stock building, and OPEC. This book will be a valuable resource tool for libraries as well as a wide range of users, from oil industry professionals and financial analysts to students of energy-related topics.

The intent of this book is to educate the reader about the vast complexities of the oil and gas industry and to motivate involvement in domestic oil and gas development, production and refinement. Explains the industry in non-technical language for an average person.

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

In today's changing political and economic environment, it is increasingly important that companies learn to properly use the various trading instruments to protect themselves against price volatility. Since the first successful energy futures contract was introduced almost a quarter century ago, trading in energy futures and options has played an important role in hedging against fluctuations in the price of petroleum products, crude oil, natural gas, propane, electricity, and most recently, coal. In this 2nd edition of their best-selling primer, authors Errera and Brown explain how exchange traded futures and options markets work, and how companies can successfully use the markets in their overall strategy to increase profitability. They cover everything from market mechanics, hedging, spread trading, and technical trading to history and growth of the markets. Also included is an extensive appendix detailing contract specifications for 13 energy futures/options contracts. BONUS: A summary of the rules of the most active energy futures and options contracts is included!

A prominent linchpin in world politics and in security policies world over, oil and gas have tremendous value in both, the political and economical sectors of global relations, business establishments and policy. Regardless of whether one is a novice to a given field, or a well accomplished veteran in the field, there is a need for the continued engagement with the basics that underlie the core subjects. With that in mind, the Fundamentals of Oil and Gas is a perfect primer for the first-timer in the field, while also a copious text to help a seasoned veteran stay abreast with the nuances of the world of Oil and Gas.

The supply of petroleum continues to dwindle at an alarming rate, yet it is the source of a range of products- from gasoline and diesel to plastic, rubber, and synthetic fiber. Critical to the future of this commodity is that we learn to use it more judiciously and efficiently. Fundamentals of Petroleum and Petrochemical Engineering provides a holi