July 17th, 2008 at 11:39am
Under Fuel Oil+ Oil+ Oil business+ Oil crisis+ Oil price
Today we find ourselves in a very unique position. We are facing unusually high oil hikes. Oil has become so very expensive that people are trying all kinds of extreme measures to lower the price. In fact the hike in price of oil is a bit of a controversial issue. The hike in price has affected every nation; the entire world is trying to find a way out of the soaring prices. The price hike in oil has even started the blame game between several countries. The need for oil has increased in most countries today; we really ought to find an alternative resource. (more…)
By Oilism.com
July 17th, 2008 at 11:31am
Under Oil Price 2008+ Oil Price 2009+ Oil price+ energy prices+ peak oil
The recent hike in prices of crude oil and fuels has affected the life of common man. It was rather a slap on his face which has put the nations with economic problems in serious desperation, affecting their growth. Rather than to criticize the government and putting the blame on each other, we have to go for an analysis which will help in evaluating the reasons behind this increase in prices of essential oils and fuels.
The real reason behind such an increase in the price of oils is the scarcity of oil supply. The critical reason behind such an increase is closely connected to the global financial market. Even though this is not a single reason, this is in fact a primary reason. The increasing demand in the industrialized nations for a huge supply of oil made oil an essential commodity with large volume of trade around the globe.
The oil is sold and priced in dollar. So speculation is the major reason which dominates even the reduced supply, in case of an increase in oil prices. When dollar loses its value, oil producers will have to increase the prices. (more…)
By Oilism.com
February 12th, 2008 at 04:52pm
Under Crude oil+ Fossil fuels+ Fuel Oil+ Fuel Prices+ Oil Price 2008+ bio ethanol+ energy prices
As the world knows, the prices of crude oil are jumping up fast, and show no signs of slowing down. The same price effect is seen with the fuel prices for gasoline and diesel. The average fuel price for a gallon gasoline in the US is now over $3.00 and Americans are getting used to the fact that “Buying a Car is much easier than Keeping it Rolling”. Car owner costs are increasing lately by raising concerns about the insurance/banking sector and the sharp raise of crude oil prices.
As gasoline prices has jumped above $3 several times lately it made me think “Will we get used to gas prices going over $4.00 or $7.00 or even higher?? Many experts are saying other fuel sorts like bio-ethanol will take over this market, but these new energy products don’t show signs of taking over the market any time soon as it isn’t even publicly available yet. And even if new energy products like bio ethanol, wind energy, solar and others take over, it will take awhile… at least 15-20 years according the international energy advisory board. Still at the demand side for crude oil there are absolutely no signs of slowing down. (more…)
By Oilism.com
January 2nd, 2008 at 07:09am
Under Oil Drilling+ Oil Rig+ Oil and gas+ Oil business+ Oil company+ Oil fields
Oil explorers expect to aim more for deepwater rigs this year as shortages caused crude oil prices to triple in the world’s second-biggest market for the oil rigs. This is the tightest oil rig market not seen in a lot of years. Stated by an U.N. Executive at Oil & Natural Gas, who has spent 31 years in oil exploration.
A boom in exploration in India,the fourth-biggest Asian economy, has tripled oil rig usage over the past four years, adding to a global shortage and causing delays in tapping natural gas off the Indian east coast. Transocean, the world’s largest offshore drilling company, may raise oil rig prices further after India completes the biggest auction of offshore blocks this month.
“Most of the oil rigs in Asia are from India”, said Tony Regan, a consultant in Singapore at Nexant, a U.S.chemicals, oil and gas consultant. “The demand for oil rigs will continue in response to the new exploration rounds”. India intends to offer 55 exploration areas this month and announces a new round for more rigs in March especially to serve the hydrocarbons plants in India.
(more…)
By Oilism.com
January 1st, 2008 at 03:29pm
Under Middle East+ Oil+ Oil company+ Oil industry
As you may know, oil & energy companies are becoming some of the richest companies in the world, even toping larger companies like Microsoft and Apple. Just last year, ExxonMobile, America’s largest oil company, toped at 195 billion dollars. Second in the US ranking was the ChevronTexaco with over 130 billion dollars, but spent over 6 billion that same year.
The absolute top oil company of the world is Saudi Aramco which is a state owned national oil company for Saudi Arabia which is headquartered in Dhahran. Saudi Aramco owns and operates within the world’s largest hydrocarbon network.
(more…)
By Oilism.com
December 28th, 2007 at 07:41pm
Under Oil Fun+ Oil Theory+ Oil and gas+ Refining Oil
Do you know you only need 42 gallons of crude oil to get 44 gallons of petroleum heating oil in return, $$$. All this without adding anything else to it even natural gasses and other secondary oil refinery products excluded. Is it true? How on earth is this possible?
First the following about the oil refinery process
If you boil crude oil around 550 degrees Celsius inside a distillation tower the basic parts of the crude oil, steams and condensate. This gassy substance sticks to the walls of the distillation tower. Within this distillation process at different heights in the tower, different products are condensing and sticking to the tower walls.
Thicker oil products are at the bottom and lighter oil products such as gasoline and thinner are at the surface of the oil tank. In the end of the refinery process 42 gallons of crude oil is converted to over thousands of m3 natural gas, which eventually re condenses into a fluid substance again. Finally, when the complete process is done, 44 gallons of various petroleum products are sticking on the walls of the distillation tower ready to be sold for by approximately 55 gallon a barrel. An other funny detail is that only 42 gals of crude oil is allowed for each barrel, this because of the risks of expansion, gas forming and other transport problems. Ok right! A ratio of 1:1,04761 to convert Crude to Petroleum.. but how??!
(more…)
By Oilism.com
December 28th, 2007 at 04:26pm
Under Future Chain+ Oil+ Oil Price 2008+ Oil Price 2009+ Oil contract+ Oil futures+ Oil price+ energy prices
Below is the complete Crude Oil future chain list for 2008 and 2009. Daily trade graphs of all crude oil price futures included. The Oil futures chain is a chronological list of all oil future contracts for a particular period. Crude oil has future contracts for several forward months up till the end of 2009. All the crude oil futures contracts are listed below and free to use for commodity trading or background study. Keep in mind that many of the far oil future contracts are not traded as often as the nearer future ones.
Crude Oil - Future Price Chain 2008
|
Crude Oil - Future Price Chain 2009
|
|
|
Crude Oil Future Price Januari 2008  |
Crude Oil Future Price Januari 2009  |
Crude Oil Future Price Februari 2008  |
Crude Oil Future Price Februari 2009  |
(more…)
By Oilism.com
December 28th, 2007 at 03:27pm
Under Oil+ Oil Spill+ Oil and gas+ Oil crisis
Major oil spills shave occurred in the oil industry since many years and some have had devastating effects on the environment, local climate and habitat of animals. Oil spills are the accidental release of oil in environment due human activity on oil riggs and containerships. This oil cargo can be of different types including crude oil, natural gases, refined petroleum or any other type of petroleum product. Sometimes it is also releases by natural geologic seeps in the sea floors. Most oil spills occurre due to large oil carrying tankers on sea but there have been also cases of oil disasters on land. Like the confrontation in Nigeria with rebels which has led to closing down refinery stations because several oil pipelines were on fire.
Environment studies have proved that effect of oil spill can be more than it is expected to be in some places. Petrochemical products can harm the marine life in the oceans as well as degrade the air quality in the atmosphere. Some variants of oil are highly toxic which can create a huge dent in the ecosystem once they are faced to the open air. The oil is thought to be evaporating quickly once they are opened in air but some types are less volatile and remain for longer period of time in the air. These types gasses are serious threats as they posses longer effect in the ecosystem. Moreover if the oil spill is not cleared and cleaned in short time of period then it mixes up with pebble and sandy beaches and pose danger even to human society living around the sea shores. (more…)
By Oilism.com
December 23rd, 2007 at 06:41pm
Under Crude oil+ OPEC+ Oil+ Oil Theory+ Oil industry+ Oil politics
This is word that has hiding meaning with it which is sometimes coined as the hidden foreign policy of United states that has helped the US dollar to remain the world’ main currency in international trade and in which the oil is priced. It is also sometimes termed as oil currency war. This single most policy of United States have kept US in fore front of many international decisions and made US a world leader for last many decades.
There is a thought that the petrodollar warfare has kept the US dollar as world currency because some main commodities like oil and natural gases is traded in dollar and if the denomination of trading oil and gases is moved to any other currency like pound then most countries will start selling their dollar reserves bringing a quick shift in the US dollar price. Once the price of dollar goes down it will directly hurt the US economy bringing a rise in inflation and many other economic determinants. US administration officials are scared that if the denomination of oil is changed then that’s going to literally damage the position of US in international politics. This fear of loosing status was supposed to be main reason behind the US invasion in Iraq since Iraqi administration had changed the currency to trade oil from dollar to Euro in late 2000 but that was later again revoked in 2003 after the invasion.
(more…)
By Oilism.com
December 23rd, 2007 at 06:33pm
Under China Oil+ Crude oil+ Historical oil prices+ Middle East+ OPEC+ Oil+ Oil politics+ Oil price+ Production levels+ oil history
The price of oil was well low at $25/barrel in late 2003 but jumped to double at whooping $60/barrel in the mid 2005. There was an uncontrolled change in the price of oil in most of times since 2005 to 2006 with some high and downs but settled at around $50-$60/barel in the early 2007. But this was not enough so it raised more above the price of $92/barrel in late 207 and ended up at about $99.29 in NYMEX futures in November end of 2007.
This clearly shows that oil prices has been increasing by passing years and the price tag of $100/’ barrel is clear to cross in the year 2008. Perhaps the price may increase above that if there are political conflicts in Middle East or any more OPEC production cuts. This uncertainty in the oil prices shows the indication of inflation of 1980 which was led to an economic recession. There are many philosophies that has attributed that US economic and political factors like UR-Iran conflict, North Korea Missile Launch, Israel- Lebanon crisis and decreasing US oil reserves are some determine factors of international oil prices.
(more…)
By Oilism.com
Previous Posts
