Crude Oil Essay

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statement: “The recent fall in oil prices has been described as either a big tax cut or a contributor to potential deflation in the UK’’. 2.0 FINDINGS: 3.0 Falling Oil Prices: From 2010 until mid-2014, world oil prices was fairly stable and their costs was oscillating at around $110 per barrel. The situation changed rapidly in June 2014 when prices have more than halved. At the moment, Brent crude oil has now fell below $50 a barrel for the first time since May 2009 and US crude is down to below $48 a

February 2011. Monthly changes in global prices for a given commodity are recorded using the Food Price Index by the United Nation’s Food and Agriculture Organisation (FAO). The FAO Food Price Index comprises of the average price indices for cereals, oils and fats, fairy products, meat and sugar, and considers the price at which these food groups are sold and purchased globally. The Food Price Index increased from 89.6 in 2002 to 229.9 in 2011, an increase of more than 150%. Global food prices continued

some progress on adjusted basis through 2015 although on a reported basis its net loss increased by 15 % in USD terms over 2014 to US $ 8,450 million. The major cause of the increase was impairment of assets and investments, generated by decreased crude oil prices and by higher discount rate, attributable to an increase in Brazil’s risk premium, resulting from a credit risk downgrade (losing its investment grade status) (US $ 12,849 million). Another big contributor to the increase in reported net loss

the amount of refinery, the company has refined to produce as the highest proportion in the country, which accounted for 27 percent of the total volume of the country 's refining. 2. Statements of financial position of Thai Oil Company The financial condition of Thai Oil and its subsidiaries at 30 September 2016 and at 31 December 2015 compared shown as picture below. At 30 September 2016, the company had total assets of 203,865 million Thai baht (approximately 6795.5 Million USD), which increased

Close to a third of the crude oil Canada produced from oil sands in 2014 used this technology Steam assisted gravity drainage (SAGD) [1].SAGD is an in-situ method that is used to extract oil from oil sand reserves. Developed by Roger Butler [2] SAGD is today one of the primary methods used to extract bitumen. In SAGD shown in the Figure 1.1, pairs of horizontal parallel wells separated by a vertical distance of 4-6m are drilled for one kilometer of a horizontal distance. The upper of the two wells

Preparation of Pyrolysis Oil: Crude pyrolysis liquid was obtained from local suppliers in Phatthalung Province, Thailand, where it was produced as a by-product from the pyrolysis of wood in the process of making charcoal, using rubber wood as a biomass feed. First, the crude pyrolysis liquid was treated to reduce water and remove the fine particles using evaporation and filtration, respectively. The concentrated liquid produced in evaporation was labelled as pyrolysis oil. The oil contained 30wt% water

demand side drivers of price for oil. In recent years, the fluctuations of oil prices have gotten the attention of the whole world. From $20s in 2003, it hit a mid-term peak of $148 in mid 2008, then fell to $30 during early 2009, and now back to $70-$80. Economic principles have demonstrated that the rise of oil price is a function of lack of supply and greater demand. We know that oil is lack of supply since there’s no major oil field found in the last 40 years and oil can’t be made within decades

Fluctuation of oil prices Fuel costs can change rapidly, making it difficult for consumers to adjust to the system. In fact, the petroleum industry is one of the

Student’s Name: Professor’s Name: Course: Date: Effect of Oil Prices on Global Economy Evidently, the connection between fuel and the world has resulted in an intimate relationship between global economy and the prices of oil. In this regard, the world is increasingly growing dependent on petroleum and, as such, it follows that matters concerning fuel prices are bound to affect the global economy. Be it a slump or a rise, oil prices factor significantly in every country regardless of if the given