scholarly journals The causes of stage expansion of WTI/Brent spread

2019 ◽  
Vol 16 (6) ◽  
pp. 1493-1505 ◽  
Author(s):  
Hong-Zhi Tian ◽  
Wei-Di Lai
Keyword(s):  
Crude Oil ◽  
Oil Field ◽  
Oil Futures ◽  
The North ◽  
Downward Pressure ◽  
The Us ◽  
Transportation Capacity ◽  
Oil Export ◽  
Sample Interval ◽  
The Difference

Abstract Historically, the price of WTI crude oil futures has long been higher than that of Brent by $2/barrel, but the spread between 2011 and 2015 was reversed and expanded to $24/barrel. In order to analyze the difference between two crude oil price variables with the same trend and phase separation using one method of analysis, this paper constructs a dynamic comparative analysis framework using the method of time-point decomposition of fluctuation factors to determine the different reasons and amplitudes for monthly fluctuations in the two price systems in the sample interval. The study found that the sensitive response of Brent futures price indicators to the world’s crude oil supply resulting from the depletion of oil in the North Sea oil field prompted it to rise in 2011–2015. For the WTI price system, due to the increase in the US shale oil production after 2008 and the restrictions in domestic pipeline transportation capacity, the increase in the Cushing crude oil inventory caused downward pressure on the WTI price. With the lifting of the US crude oil export ban in December 2015, arbitrage space disappeared, and the spread between the two gradually narrowed.

Alaskan Transportation: An Overview of Some Aspects of Transporting Alaskan Crude Oil

1979 ◽  
Vol 16 (03) ◽  
pp. 211-224
Author(s):  
Stanley Factor ◽  
Sandra J. Grove
Keyword(s):  
Crude Oil ◽  
Gulf Coast ◽  
The United States ◽  
Oil Field ◽  
Oil Well ◽  
Paper Briefly ◽  
The North ◽  
Prudhoe Bay ◽  
Design Construction ◽  
Commercial Oil

The first commercial oil well in Alaska was drilled in 1901, but it was in 1968 that Alaska was thrust into prominence as an oil producer with the discovery of the Prudhoe Bay field, the largest oil field ever found in the United States. This paper briefly explores the transportation-related aspects of the design, construction, and operation of the pipeline and support facilities. The pipeline terminates at Port Valdez on Prince William Sound. It is from here that the second leg of the journey to the energy-hungry lower 48 states begins. A thoroughly modern and unique marine transportation system is being utilized to transport approximately 1.2 million barrels (191 000 m3) per day of Alaskan crude oil to West and Gulf Coast refineries. The Valdez Terminal, the pipeline, the North Slope supply, and vessel particulars and operations are discussed; in addition, environmental and legal problems are outlined.

Multifractal Fluctuation Analysis of Correlations between Agricultural Futures Markets in China and the US Based on MF-X-DFA and MF-DPXA Methods

2021 ◽  
pp. 2250006
Author(s):  
You-Shuai Feng ◽  
Bao-Ming Cao
Keyword(s):  
Crude Oil ◽  
Futures Markets ◽  
The West ◽  
Oil Futures ◽  
West Texas ◽  
The Us ◽  
Agricultural Futures ◽  
Crude Oil Futures ◽  
Cross Correlations ◽  
The Cross

The fluctuation characteristics of the correlations between China and the US agricultural futures markets have attracted extensive attention from academic circles and government departments. As the main factor that affects the agricultural futures price, the impact of international crude oil futures price on the correlations of the Sino-US agricultural futures markets is also worth discussing. Therefore, this paper adopts the multifractal detrended cross-correlation analysis (MF-X-DFA) and multifractal detrended partial cross-correlation analysis (MF-DPXA) to explore the fluctuation characteristics of cross-correlations for China and the US agricultural futures markets before and after removing the West Texas Intermediate (WTI) crude oil futures price as well as the impact on the cross-correlations. The results show that the fluctuation characteristics of the cross-correlations and partial cross-correlations between the corresponding varieties of China and the US agricultural futures markets as well as among the varieties within the markets are multifractal. The cross-correlation behaviors and the cross-market risks are all affected to varying degrees by the West Texas Intermediate (WTI) crude oil futures. The West Texas Intermediate (WTI) crude oil futures weaken the cross-market risk of the Sino-US soybean futures, while strengthening the cross-market risk of the Sino-US corn and wheat futures. In addition, the impact of the West Texas Intermediate (WTI) crude oil futures on the cross-market risks among China agricultural futures is greater than those among the US corresponding agricultural futures.

RESPONDING TO SPILLS IN AN ARCTIC OIL FIELD – LESSONS LEARNED

2008 ◽  
Vol 2008 (1) ◽  
pp. 689-693
Author(s):  
Lee Majors ◽  
Fred McAdams
Keyword(s):  
Crude Oil ◽  
Oil Spill ◽  
Produced Water ◽  
Lessons Learned ◽  
Oil Field ◽  
North Slope ◽  
The North ◽  
North Slope Of Alaska ◽  
Freeze Protection ◽  
Field Production

ABSTRACT Alaska Clean Seas (ACS) is the Oil Spill Recovery Organization (OSRO) for the North Slope of Alaska. ACS responds to all spill events for member companies operating on the North Slope. In 2006 ACS responded to over 350 reportable spill events. These spills consist of materials utilized in oil field production activities and include crude oil, produced water, drag reducing agents, freeze protection material, and even sewage The spills occur on frozen tundra in and under snow and ice, and in summer conditions. This paper outlines some of the spills in past years, the conditions encountered, tactics utilized, and lessons learned.

scholarly journals Lifting the US crude oil export ban: A numerical partial equilibrium analysis

Energy Policy ◽  
2016 ◽  
Vol 97 ◽  
pp. 258-266 ◽  
Author(s):  
Lissy Langer ◽  
Daniel Huppmann ◽  
Franziska Holz
Keyword(s):  
Crude Oil ◽  
Equilibrium Analysis ◽  
Partial Equilibrium ◽  
The Us ◽  
Oil Export ◽  
Partial Equilibrium Analysis

scholarly journals Modifying an Equation to Predict the Asphaltene Deposition in the Buzurgan Oil Field

2020 ◽  
Vol 21 (4) ◽  
pp. 49-55
Author(s):  
Raad Mohammed Hasan ◽  
Ayad A. Al-haleem
Keyword(s):  
Crude Oil ◽  
Oil Field ◽  
Original Equation ◽  
Instability Index ◽  
Asphaltene Precipitation ◽  
Oil Companies ◽  
Reservoir Rocks ◽  
Reservoir Conditions ◽  
The Difference ◽  
New Equation

Buzurgan oil field suffers from the phenomenon of asphaltene precipitation. The serious negatives of this phenomenon are the decrease in production caused by clogging of the pores and decrease in permeability and wettability of the reservoir rocks, in addition to the blockages that occur in the pipeline transporting crude oil. The presence of laboratories in the Iraqi oil companies helped to conduct the necessary experiments, such as gas chromatography (GC) test to identify the components of crude oil and the percentages of each component, These laboratory results consider the main elements in deriving a new equation called modified colloidal instability index (MCII) equation based on a well-known global equation called colloidal instability index (CII) equation.    The modified (MCII) equation is considered an equation compared to the original (CII) equation because both equations mainly depend on the components of the crude oil, but the difference between them lies in the fact that the original equation depends on the crude oil components at the surface conditions, while the new equation relies on the analysis of crude oil to its basic components at reservoir conditions by using (GC) analysis device.    The components of the crude oil in the reservoir conditions according to the number of carbon atoms of each component compared with the elements of the original equation, which are (saturates, aromatics, resins, and asphaltene).    The new MCII equation helps in predicting the possibility of asphaltene precipitation which can be used and generalized to other Iraqi oilfields as it has proven its worth and acceptability in this study.

scholarly journals SOME HIGHLIGHTS IN SAUDI ARABIA–US RELATIONSHIP IN THE PERIOD 2011-2020

2021 ◽  
Vol 37 (2) ◽  
Author(s):  
Hoang Thi Mai Phuong
Keyword(s):  
Saudi Arabia ◽  
Middle East ◽  
North Africa ◽  
Strategic Alliance ◽  
Evaluation Method ◽  
Oil Field ◽  
Strategic Partner ◽  
The North ◽  
The Us ◽  
Methods Analytical

Saudi Arabia - US relationship has long been known as a strategic alliance, despite the differences between a monarchy and a constitutional republic. So far, Saudi Arabia has been one of the closest allies, the strongest economic partner and an important strategic partner of the US in the Middle East. Even so, the relationship between Saudi Arabia and US has also experienced such ups and downs as the 1973 oil embargo, the terrorist event in the US on 11st September or the political and social crisis in the North Africa - Middle East region that took place in late 2010 and early 2011 (also known as the "Arab Spring"), the assassination of journalist Jamal Khashoggi at the Saudi Embassy in Turkey and the attack on the oil field in Saudi Arabia on 14th September, 2019, enormous impacts on the Middle East - North Africa and the world situation. The article briefly summarizes some prominent issues in the Saudi-US relationship between 2011 and 2020. Besides, the article also analyzes the factors that are likely to affect the Saudi-US relationship and some forecasts for the development direction of this relationship in the coming time. The article uses the international relations research methods, analytical methods to synthesize and evaluate, case study method, system-structured method, forecast and evaluation method to objectively evaluate this relationship.

scholarly journals The impact of agricultural biotechnology on supply and land-use

2014 ◽  
Vol 19 (6) ◽  
pp. 676-703 ◽  
Author(s):  
Geoffrey Barrows ◽  
Steven Sexton ◽  
David Zilberman
Keyword(s):  
Land Use ◽  
Genetically Engineered ◽  
Extensive Margin ◽  
Intensive Margin ◽  
Supply Effect ◽  
Input Use ◽  
Downward Pressure ◽  
The Us ◽  
The Difference ◽  
The Impact

AbstractWe use aggregate data to estimate supply, price, land-use, and greenhouse gas impacts of genetically engineered (GE) seed adoption due both to increased yield per hectare (intensive margin) and increased planted area (extensive margin). An adoption model with profitability and risk considerations distinguishes between the two margins, where the intensive margin results from direct ‘gene’ impacts and higher complimentary input use, and the extensive margin reflects the growing range of lands that become profitable with the GE technology. We identify yield increases from cross-country time series variation in GE adoption share within the main GE crops – cotton, corn and soybeans. We find that GE increased yields 34 per cent for cotton, 12 per cent for corn and 3 per cent for soybeans. We then estimate the quantity of extensive margin lands from year-to-year changes in traditional and GE planted area. If all production on the extensive margin is attributed to GE technology, the supply effect of GE increases from 5 per cent to 12 per cent for corn, 15 per cent to 20 per cent for cotton, and 2 per cent to 40 per cent for soybeans, generating significant downward pressure on prices. Finally, we compute ‘saved’ lands and greenhouse gases as the difference between observed hectarage per crop and counterfactual hectarage needed to generate the same output without the yield boost from GE. We find that altogether, GE saved 13 million hectares of land from conversion to agriculture in 2010, and averted emissions are equivalent to roughly one-eighth of the annual emissions from automobiles in the US.

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