Research of Phase Behavior in Natural Gas Drive Process and Its Application in T_D Reservoir with HTHP

2021 ◽  
Author(s):  
Tongwen Jiang ◽  
Daiyu ZHOU ◽  
Liming LIAN ◽  
Yiming WU ◽  
Zangyuan WU ◽  
...  
Keyword(s):  
Mass Transfer ◽  
Natural Gas ◽  
Crude Oil ◽  
Phase Behavior ◽  
Viscosity Reduction ◽  
Solid Point ◽  
Displacement Efficiency ◽  
Laser Method ◽  
Gas Drive ◽  
Solid Deposition

Abstract Different from other gas drive processes, phase behavior performs more significant roles in natural gas drive process. The main reason is that more severe mass transfer effect and similar phase solubility effect have been caused by multicomponent interaction. This paper provides a series of methods to study the phase behavior in natural gas drive process, aiming to reveal further mechanism and give technical supports to the on-site practice in T_D Reservoir with HTHP. Four key parameters of natural gas drive have been determined. Firstly, laboratory compounding method has been improved to obtain real components of formation fluids and actual injected gas at formation condition (140°C, 45MPa). Secondly, 19 sets of slim tube test has been carried to determine MMP (minimum miscible pressure) and the injected gas components ensuring miscibility. Thirdly, swelling test and laser method have been used to separately obtain the viscosity reduction degree and solid deposition effects. Finally, multiple contact test has been carried to describe the miscibility behavior. All the above have been applied in T_D Reservoir. Conclusions could be drawn from the results obtained by the methods above. Firstly, swelling capacity of crude oil could be enhanced by natural gas for the formation volume factor of crude oil in T_D Reservoir increased by 57% and the viscosity decreased by 83% after natural gas injection. Secondly, MMP of dry gas and crude oil in T_D Reservoir is 43.5MPa with a miscible displacement efficiency above 90% (>30% compared with immiscible displacement efficiency), and the content of N2+C1 should be controlled over 88%. Thirdly, results of 5 levels contact experiments shows that miscibility behavior of natural gas and oil from T_D Reservoir performs an evaporative-condensate composite miscible process in which the condensate miscible process takes the lead. Finally, obvious solid point has not been observed in natural gas drive process of crude oil from T_D Reservoir at the formation temperature, and the effect of solid deposition on the fluid flow in formation could be ignored because of trace amount of solid solution (<1mg/ml) and minute formation permeability damage (<8%). The achievements above have been applied in T_D Reservoir as one of the important technical means supporting over 350,000 tons increased production by natural gas drive. A systematic methods have been reorganized to research the phase behavior in natural gas drive process and half of these methods mentioned above get partially improvement. These physical simulation experiments have covered most mainly processes and the key parameters in reservoirs with HTHP and natural gas drive, including mass transfer, viscosity, expansion, volume coefficient, MMP, miscibility behavior and solid deposition. Every experiment gives a quantitative analysis which possesses satisfied practicability in field application.

Asphaltene Deposition Induced by Carbon Oxide and its Influence on Displacement Efficiency

2012 ◽  
Vol 594-597 ◽  
pp. 2451-2454
Author(s):  
Feng Lan Zhao ◽  
Ji Rui Hou ◽  
Shi Jun Huang
Keyword(s):  
Crude Oil ◽  
Oil Recovery ◽  
Carbon Oxide ◽  
Viscosity Reduction ◽  
Core Flooding ◽  
Displacement Efficiency ◽  
Oil Composition ◽  
Oil Viscosity ◽  
Asphaltene Deposition ◽  
Total Oil

CO2is inclined to dissolve in crude oil in the reservoir condition and accordingly bring the changes in the crude oil composition, which will induce asphaltene deposition and following formation damage. In this paper, core flooding device is applied to study the effect of asphaltene deposition on flooding efficiency. From the flooding results, dissolution of CO2into oil leads to recovery increase because of crude oil viscosity reduction. But precipitated asphaltene particles may plug the pores and throats, which will make the flooding effects worse. Under the same experimental condition and with equivalent crude oil viscosity, the recovery of oil with higher proportion of precipitated asphaltene was relatively lower during the CO2flooding, so the asphltene precipitation would affect CO2displacement efficiSubscript textency and total oil recovery to some extent. Combination of static diffusion and dynamic oil flooding would provide basic parameters for further study of the CO2flooding mechanism and theoretical evidence for design of CO2flooding programs and forecasting of asphaltene deposition.

Phase Behavior of CO2 and Crude Oil in Low-Temperature Reservoirs

1981 ◽  
Vol 21 (04) ◽  
pp. 480-492 ◽  
Author(s):  
F.M. Orr ◽  
A.D. Yu ◽  
C.L. Lien
Keyword(s):  
Critical Temperature ◽  
Liquid Phase ◽  
Low Temperature ◽  
Crude Oil ◽  
Phase Behavior ◽  
Phase Diagrams ◽  
Ternary Mixtures ◽  
Co2 Flooding ◽  
Displacement Efficiency ◽  
Oil Mixtures

Abstract Phase behavior of CO2/Crude-oil mixtures which exhibit liquid/liquid (L/L) and liquid/ liquid/vapor (L/L/V) equilibria is examined. Results of single-contact phase behavior experiments for CO2/separator-oil mixtures are reported. Experimental results are interpreted using pseudoternary phase diagrams based on a review of phase behavior data for binary and ternary mixtures of CO2 with alkanes. Implications for the displacement process of L/L/V phase behavior are examined using a one-dimensional finite difference simulator. Results of the analysis suggest that L/L and L/L/V equilibria will occur for CO2/crude-oil mixtures at temperatures below about 120 degrees F (49 degrees C) and that development of miscibility occurs by extraction of hydrocarbons from the oil into a CO2-rich liquid phase in such systems. Introduction The efficiency of a displacement of oil by CO2 depends on a variety of factors, including phase behavior of CO2/crude-oil mixtures generated during the displacement, densities and viscosities of the phases present, relative permeabilities to individual phases, and a host of additional complications such as dispersion, viscous fingering, reservoir heterogeneities, and layering. It generally is acknowledged that phase behavior and attendant compositional effects on fluid properties strongly influence local displacement efficiency, though it also is clear that on a reservoir scale, poor vertical and areal sweep efficiency (caused by the low viscosity of the displacing CO2) may negate the favorable effects of phase behavior.Interpretation of the effects of phase behavior on displacement efficiency is made difficult by the complexity of the behavior of CO2/crude-oil mixtures. The standard interpretation of CO2 flooding phase behaviour, given first by Rathmell et al. is that CO2 flooding behaves much like a vaporizing gas drive, as described originally by Hutchinson and Braun. During a flood, vaporphase CO2 mixes with oil in place and extracts light and intermediate hydrocarbons. After multiple contacts, the CO2-rich phase vaporizes enough hydrocarbons to develop a composition that can displace oil efficiently, if not miscibly. The picture presented by Rathmell et al. appears to be consistent with phase behavior observed for CO2/ crudeoil mixtures as long as the reservoir temperature is high enough. Table 1 summarizes data reported for CO2/crude-oil mixtures. Of the 10 systems studied, all those at temperatures above 120 degrees F (50 degrees C) show only L/V equilibria while those below 120 degrees F exhibit L/L/V separations (Stalkup also reports two phase diagrams that are qualitatively similar to the other low-temperature diagrams but does not give temperatures). Thus, at temperatures not too far above the critical temperature of CO2 [88 degrees F (31 degrees C)], mixtures of CO2 and crude oil exhibit multiple liquid phases, and at some pressures L/L/V equilibria are observed. It has not been established whether Rathmell et al.'s interpretation of the process mechanism can be extended to cover the more complex phase behavior of low-temperature CO2/crude-oil mixtures. In a recent paper, Metcalfe and Yarborough argued critical temperature CO2 floods behave more like condensing gas drives, whereas Kamath et al. concluded that an increase in the solubility of liquid-phase CO2 in crude oil at temperatures near the critical temperature of CO2 should cause more efficient displacements of oil by CO2. SPEJ P. 480^

Solvent and Driving Gas Compositions for Miscible Slug Displacement

1970 ◽  
Vol 10 (03) ◽  
pp. 298-310 ◽  
Author(s):  
Lyman Yarborough ◽  
L.R. Smith
Keyword(s):  
Crude Oil ◽  
Phase Behavior ◽  
Nitrogen Concentration ◽  
Equilibrium Phase ◽  
Miscible Displacement ◽  
Limiting Factor ◽  
Liquefied Petroleum Gas ◽  
Contact Zones ◽  
Wide Range ◽  
Gas Drive

Abstract Experimental data were used for determining miscibility in liquefied petroleum gas (LPG) slug flooding and enriched gas drive of crude oils. The miscibility data for LPG slug flooding includes cases where the driving gas contains large amounts of nitrogen and when low pressure miscible displacement is desired. The results of flow tests for enriched gases miscibly displacing crude oil are given. These data cover a wide range of reservoir oil properties and miscibility pressures. Methods for predicting compositional requirements for both miscible slug displacement processes are recommended and should be useful for preliminary engineering evaluation of miscible slug displacement for a reservoir. Introduction The two most frequently applied hydrocarbon solvent processes for miscible displacement of crude oil are liquefied petroleum gas (LPG) slug flooding and enriched gas drive. A slug of the LPG or enriched gas is injected and followed by dry gas or gas-water displacement. In both cases the injected material forms a miscible slug in the reservoir. Generally, there are two fluid contact zones in which the establishment of miscibility must be considered as related to the fluid compositions and the reservoir temperature and pressure. The first zone is the solvent-reservoir oil pressure. The first zone is the solvent-reservoir oil contact zone; the second zone is where the lean scavenging gas and solvent come together. For successful miscible displacement, there must be single-hydrocarbon-phase condition throughout both contact zones. Aside from possible repressuring procedures which may be undertaken prior to solvent procedures which may be undertaken prior to solvent injection, the primary engineering control for achieving miscibility is the proper specification of the solvent and driving gas compositions. This paper discusses the compositional requirements for paper discusses the compositional requirements for miscibility to be achieved in both contact zones and considers cases where the reservoir pressure is very low or the driving gas contains a large amount of nitrogen. LPG SLUG FLOODING FOR MISCIBLE DISPLACEMENT OF CRUDE OIL In LPG slug flooding there is no problem in achieving miscibility with the crude oil under conditions where the solvent remains liquid. Miscibility between the LPG slug and the driving gas may be the limiting factor. At pressures below 1,100 to 1,200 psia, miscibility often cannot be achieved between the LPG and driving gas, and even higher pressures may be required if the available driving gas contains an appreciable concentration of nitrogen. Another area of increasing interest is LPG slug flooding in reservoirs where the pressure is 1,000 psia or below. At these pressures the methane-LPG transition cannot be pressures the methane-LPG transition cannot be single phase at temperatures below 160 degrees F. The only practicable approach to achieving miscible displacement under these conditions is to inject an ethane-rich buffer slug between the LPG and the driving gas. To determine the allowable nitrogen concentration for gases driving LPG, the phase behavior of nitrogen-methane-propane mixtures was experimentally studied at 105 degrees and 120 degrees F. Similarly, equilibrium-phase behavior data were obtained for the methane-ethane-propane system at 105 degrees F. The latter results allow estimates to be made of the buffer-slug composition necessary for miscible displacement at low pressures. Also, the effects of small amounts of butane and pentane on the phase behavior of the nitrogen-methane-propane and the nitrogen-methane-ethane-propane system were studied. SPEJ p. 278

Thermodynamic Modeling of Phase and Tension Behavior of CO2/Hydrocarbon Systems

1985 ◽  
Vol 25 (02) ◽  
pp. 235-254 ◽  
Author(s):  
Muhammad Sahimi ◽  
H. Ted Davis ◽  
L.E. Scriven
Keyword(s):  
Phase Equilibria ◽  
Crude Oil ◽  
Phase Behavior ◽  
Gradient Theory ◽  
Homogeneous Fluid ◽  
Liquid Liquid Extraction ◽  
Interfacial Composition ◽  
Composition Profiles ◽  
Gas Drive ◽  
Liquid Vapor

Abstract The gradient theory of in homogeneous fluid is used to predict phase splits and compositions, interfacial composition profiles, and interfacial tension (IFT) of liquid-liquid, liquid-vapor, and liquid-liquid-vapor equilibria in binary and ternary mixtures of CO2 with propane and decane. The theory's input are the equation of state (EOS) of homogeneous fluid and the influence parameters of inhomogeneous fluid. An efficient computational algorithm is presented for simultaneously generating phase behavior, critical points, interfacial composition profiles, and tension between the phases. Most calculations are made with the Peng-Robinson EOS and the geometric mixing rule for the influence parameters. Use of other EOS and alternative schemes for choosing the influence parameters is explored. Introduction CO2 is a promising agent for enhancing petroleum recovery. Laboratory and field studies have established that CO2 can be an efficient oil-displacing agent. The various mechanisms by which it can act includesolution gas drive,immiscible CO2 drive,hydrocarbon/CO2 miscible drive,hydrocarbon vaporization,direct miscible CO2 drive, andmulticontact dynamic miscible drive. Phase-equilibria a data for CO2-reservoir oils have been reported. The data suggest that two distinct types of equilibria are possible. In one, there are only two phases, liquid and vapor. In the other, there is a region of liquid-vapor equilibrium, but in the phase diagram it exists in conjunction with both liquid-liquid and liquid-liquid-vapor regions. Hutchinson and Braun have shown how a lean gas can develop miscibility with a relatively rich oil. Miscibility is achieved when the lean gas strips intermediates from the liquid until the gas composition is rich enough to be miscible with the original oil. This process is called the high-pressure or vaporizing gas drive. In CO2/crude-oil systems of only one liquid phase and one vapor phase, the miscibility development mechanism can be regarded as vaporization. If the temperature is relatively low, the mechanism is described more accurately as condensation (absorption) of CO2 into the oil phase. In CO2/crude-oil systems that display more than one liquid phase in conjunction with a vapor phase, the mechanism is one of condensation and can account for a phenomenon reported by Shelton and Yarborough, namely that two liquid phases card form either with or without vapor being present. The displacement then has the appearance of a liquid-liquid extraction process. In any case, the miscibility development mechanism is related directly to the phase equilibria of the CO2/reservoir-fluid system. All these mechanisms are characterized by high recoveries in the laboratory. Simon et al. suggested that IFT effects are responsible for high recoveries in a vaporizing situation and might be equally effective in a liquid-liquid extraction situation; consequently, it is desirable to study tension behavior along with the phase behavior of CO2/hydrocarbon systems, as we do here. We make use of a molecular theory, the gradient theory of inhomogeneous fluid, which unifies phase and tension behavior in a practicable way. Such an approach has not been followed before. The CO2/propane (C3) / decane (C1O) system was selected for this study because CO2-C3 and CO2-C1O binary phase equilibria data for wide ranges of temperature and pressure are available. Propane represents the light ends and decane the heavier components. Of course, CO2 and reservoir oils do not have exactly the same phase (and therefore tension) behavior as the simple binary and ternary systems discussed here, but as Hutchinson and Braun demonstrated, these systems can give at least a qualitative description of the phase behavior of CO2/crude-oil systems, although Rathmell et al. indicated that when large amounts of CO2 and methane (C1) are both present, a quaternary diagram is needed to account for the observed behavior. Phase Behavior Calculations The design of a CO2 flooding process requires accurate phase behavior predictions of the equilibrium between the oil in place and the injected CO2. In one approach, the experimental data and extrapolations or interpolations are used in the process simulator. This approach can be quite inaccurate unless a great deal of data are available. Alternatively, an EOS can be postulated and its adjustable parameters fit to a limited amount of data. This is clearly the best approach when a good EOS can be found. As shown in the next section, it is the only feasible approach when IFT are to be predicted along with phase behavior. SPEJ P. 235^

Flow Visualization for CO2/Crude-Oil Displacements

1985 ◽  
Vol 25 (05) ◽  
pp. 665-678 ◽  
Author(s):  
Bruce T. Campbell ◽  
Franklin M. Orr
Keyword(s):  
Crude Oil ◽  
Phase Behavior ◽  
Water Saturation ◽  
High Water ◽  
Displacement Efficiency ◽  
Refined Oil ◽  
Miscible Displacements ◽  
Viscous Instability ◽  
Oil Mixtures ◽  
First Contact

Abstract Results of visual observations of high-pressure CO2 floods are reported. The displacements were performed in two-dimensional (2D) pore networks etched in glass plates. Results of secondary and tertiary first-contact miscible displacements and secondary and tertiary multiple-contact miscible displacements are compared. Three displacements with no water present were performed in each of three pore networks:displacement of a refined oil by the same oil dyed a different color;displacement of a refined oil by CO2 (first-contact miscible); anddisplacement of a crude oil at a pressure above the minimum miscibility pressure. In addition, three tertiary displacements were performed in the same pore networks;displacement of the refined oil by water, followed by displacement by the same refined oil dyed to distinguish it from the original oil;tertiary displacement of the refined oil by CO2; andtertiary displacement of crude oil by CO2. In addition, recovery of oil from dead-end pores, with and without water barriers shielding the oil, was investigated. Visual observations of pore-level displacement events indicate that CO2 displaced oil much more efficiently in both first-contact and multiple-contact miscible displacements when water was absent. In tertiary displacements of a refined oil, CO2 effectively displaced the oil it contacted, but high water saturations restricted access of CO2 to the oil. The low viscosity of CO2 aggravated effects of high water saturations because the CO2 did not displace water efficiently. CO2 did, however, contact trapped oil by diffusing through water to reach, to swell, and to reconnect isolated droplets. Finally, CO2 displaced crude oil more efficiently than it did the refined oil in tertiary displacements. Differences in wetting behavior between the refined and crude oils appear to account for the different flow behavior. Introduction If high-pressure CO2 displaces oil in a one-dimensional (1D), uniform porous medium (in which the effects of viscous fingering are necessarily absent), the displacement efficiency is controlled by the phase behavior of the CO2/crude-oil mixtures. The conventional description of the effects of phase behavior was given by Hutchinson and Braun1 for vaporizing gas drives and was extended to CO2 systems by Rathmell et al.2 In a rigorous mathematical treatment of the flow of three-component mixtures. Helfferich3 proved that the displacement will develop miscibility if the oil composition lies outside the region of tie-line extensions on a ternary diagram. Helfferich's analysis was for 1D flows in which fluids are mixed well locally, and the effects of dispersion are absent. Sigmund et al.,4 Gardner et al.,5 and Orr et al.6 showed that results of slim-tube displacements, which are nearly 1D and come close to eliminating the effects of viscous instability, can be predicted quantitatively by 1D process simulations based on independent measurements of the phase behavior and fluid properties of the CO2/crude-oil mixtures. Thus there is good experimental confirmation that the simple theory of the effects of phase behavior on displacement performance describes accurately the behavior of flow in an ideal displacement, such as a slim tube. In a CO2 flood in reservoir rock, however, a variety of other factors will influence process performance. Because the viscosity CO2 is much lower than that of most oils, viscous instability will limit the sweep efficiency of the injected CO2. In addition, Gardner and Ypma7 predicted, based on 2D simulations of the growth of a viscous finger, that an interaction between viscous instability and phase behavior would lead to higher residual oil saturation in regions penetrated by a viscous finger. Pore-structure heterogeneity may also influence displacement efficiency. Spence and Watkins8 found that residual oil saturations after CO2 waterfloods increased as the heterogeneity of the core increased. Several investigators have reported that high water saturations can alter mixing between oil and injected solvent. Raimondi and Torcaso9 found, in displacements in Berea sandstone cores, that significant fractions of the oil phase could not be contacted by injected solvent when the water saturation was high. Thomas et al.10 reported that a portion of the nonwetting phase can exist in "dendritic" pores whose shapes were determined by the surrounding wetting phase. They argued that material in the dendritic pores mixed with fluid in the flowing fraction only by diffusion. Stalkup11 and Shelton and Schneider12 also investigated effects of mobile water saturations in miscible displacements. Stalkup found that the flowing fraction decreased as the water saturation increased. Shelton and Schneider reported that the presence of a second mobile phase slowed recovery of either phase, but the nonwetting phase was affected more strongly. In their tests, all of the wetting phase was recovered by a miscible displacement, but significant amounts of nonwetting phase remained unrecovered.

scholarly journals Phase behavior and miscible mechanism in the displacement of crude oil with associated sour gas

2019 ◽  
Vol 74 ◽  
pp. 54 ◽  
Author(s):  
Congge He ◽  
Longxin Mu ◽  
Anzhu Xu ◽  
Lun Zhao ◽  
Jun He ◽  
...  
Keyword(s):  
Crude Oil ◽  
Phase Behavior ◽  
Oil Recovery ◽  
Drive Mechanism ◽  
Investment Cost ◽  
Compositional Simulator ◽  
Point Pressure ◽  
Gas Drive ◽  
Effective Development ◽  
Sour Gas

The re-injection of associated sour gas, with high H2S and CO2 content, into the reservoir is proposed to be an effective development method due to its low investment cost and high oil recovery. The aim of this work is to present the phase behavior and miscible mechanism of crude oil displaced by associated sour gas. Based on the equation of state and the phase equilibrium theory, the phase behavior of crude oil mixed with various gases (associated sour gas, H2S, CO2 and CH4) have been analyzed. Then, the miscibility of associated sour gas was determined by calculating its Minimum Miscible Pressure (MMP) and the effect of sour component fraction on miscibility was evaluated. Moreover, a series of numerical simulations modeling 1D slim-tube were conducted using a compositional simulator to study the miscible mechanism in the displacement of crude oil with associated sour gas. The results show that the injection of H2S can reduce the bubble point pressure of crude oil and therefore is beneficial to prevent the crude oil degassing; nevertheless, the injection of CO2 has little effect on it. The miscible ability of associated sour gas decreases as its sour component fraction decreases. It is observed that the crude oil displaced by associated sour gas and sweet gas both show a combined condensing/vaporizing mechanism, with miscible zone in the middle of transition zone. However, the vaporizing-gas drive mechanism is slightly stronger than the condensing-gas drive mechanism during the displacement by associated sour gas while is significantly stronger during the displacement by sweet gas.

Equilibrium Phase Compositions of CO2/Crude Oil Mixtures-Part 2: Comparison of Continuous Multiple-Contact and Slim-Tube Displacement Tests

1983 ◽  
Vol 23 (02) ◽  
pp. 281-291 ◽  
Author(s):  
Franklin M. Orr ◽  
Matthew K. Silva ◽  
Cheng-Li Lien
Keyword(s):  
Phase Composition ◽  
New Mexico ◽  
Crude Oil ◽  
Phase Behavior ◽  
Equilibrium Phase ◽  
Saturation Pressure ◽  
Research Center ◽  
Displacement Efficiency ◽  
Ternary Diagrams ◽  
Oil Mixtures

Orr Jr., Franklin M.; SPE; New Mexico Petroleum Recovery Research Center Petroleum Recovery Research Center Silva, Matthew K.; SPE; New Mexico Petroleum Recovery Research Center Petroleum Recovery Research Center Lien, Cheng-Li; SPE; New Mexico Petroleum Recovery Research Center Abstract Results of phase composition and density measurements for CO2/ crude-oil mixtures at 32C and four pressures are reported for a system in which liquid/liquid and liquid/liquid/vapor phase separations occur. The experiments demonstrate that a CO2-rich liquid phase can contain as much as 30 wt% hydrocarbons and show that a CO2-rich vapor phase at the same conditions extracts hydrocarbons less efficiently. Pseudoternary phase diagrams are presented that summarize the results of the detailed phase composition measurements. Results of slim-tube displacements at the same four pressures are also given. They indicate that displacement is efficient when the pressure is high enough that a liquid CO2-rich phase appears. Predictions of the performance of the slim-tube displacements based entirely on the performance of the slim-tube displacements based entirely on the experimental measurements of phase compositions and densities are obtained using a simple one-dimensional (1D) simulator. The simulation results clarify the roles of phase behavior and volume change on mixing in the slim-tube tests. Finally, the advantages and limitations of the slimtube and continuous multiple-contact (CMC) tests are compared. We conclude that the CMC experiment yields more information useful for prediction of the performance of a CO2 flood. Introduction The laboratory experiment most commonly performed in the evaluation Of CO2 flood candidates is the slim-tube displacement. The experiment is an attempt to isolate the effects of phase behavior on displacement efficiency in a flow setting that minimizes the effects of the viscous instability inherent in the displacement of oil by low-viscosity CO2. It provides useful information about the pressure required to produce high displacement efficiency in an ideal porous medium. It is not, however, a direct measurement of the phase behavior Of CO2/crude-oil mixtures. The physical behavior of such mixtures is usually studied by combining known quantities of oil and CO2 in a visual cell and measuring phase volumes at various pressures. The volumetric data obtained, along with saturation pressure pressures. The volumetric data obtained, along with saturation pressure data, do not give any direct evidence concerning displacement efficiency, but they can be used to adjust and tune representations of the phase behavior with an equation of state (EOS). For instance, Sigmund et al., used that procedure to match EOS calculations to PVT data and then simulated slimtube displacement experiments, obtaining good agreement between calculation and experiment. Gardner et al., used a combination of phase composition and volumetric measurements to construct ternary diagrams phase composition and volumetric measurements to construct ternary diagrams for a CO2/crude-oil system and then used the ternary diagrams in 1D simulations of slim-tube displacements. They also obtained good agreement between calculation and experiment. Thus there is at least some experimental confirmation of the relationship between equilibrium phase behavior and flow in an ideal porous medium. The connection between phase behavior and displacement efficiency has, of course, long been recognized. SPEJ p. 281

Analyzing the financial and economic momentum as a result of changes in the interest rate

2020 ◽  
Vol 16 (9) ◽  
pp. 1656-1673
Author(s):  
V.V. Smirnov
Keyword(s):  
Interest Rate ◽  
Natural Gas ◽  
Central Bank ◽  
Crude Oil ◽  
Oil Prices ◽  
Global Capitalism ◽  
Positive Effects ◽  
Russian Economy ◽  
Oil And Natural Gas ◽  
The Interest Rate

Subject. The article discusses financial and economic momenta. Objectives. I determine financial and economic momenta as the interest rate changes in Russia. Methods. The study is based on a systems approach and the method of statistical analysis. Results. The Russian economy was found to strongly depend on prices for crude oil and natural gas, thus throwing Russia to the outskirts of the global capitalism, though keeping the status of an energy superpower, which ensures a sustainable growth in the global economy by increasing the external consumption and decreasing the domestic one. The devaluation of the national currency, a drop in tax revenue, etc. result from the decreased interest rate. They all require to increase M2 and the devalued retail loan in RUB, thus rising the GDP deflator. As for positive effects, the Central Bank operates sustainably, replenishes gold reserves and keeps the trade balance (positive balance), thus strengthening its resilience during a global drop in crude oil prices and the COVID-19 pandemic. The positive effects were discovered to result from a decreased in the interest rate, rather than keeping it low all the time. Conclusions and Relevance. As the interest rate may be, the financial and economic momentum in Russia depends on the volatility of the price for crude oil and natural gas. Lowering the interest rate and devaluing the national currency, the Central Bank preserves the resource structure of the Russian economy, strengthens its positions within the global capitalism and keeps its status of an energy superpower, thus reinforcing its resilience against a global drop in oil prices.

Sign in / Sign up

Export Citation Format

Share Document