The Petroleum Economist

Introduction to Petroleum Economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. It discusses the science of petroleum economics, starting from square-one, the tools of the trade that petroleum economists use, day in and day out, and also its application. Along the way the author relates some helpful and informative anecdotes based on his almost twenty-year career as a petroleum economist. Vital for all oil professionals as well as students, Introduction to Petroleum Economics unravels the decision-making behind w.

The perfect primer for both the layperson and the engineer, for the new hire and the old hand, describing, in easy-to-understand language, one of the biggest and most lucrative industries in the world. There is only one substance known to mankind that can cause wars, influence global economies, and make entire countries rich: petroleum. One teaspoon of the stuff carries enough energy to power a ton truck up a hill. It's in the news every single day, it influences our lives in ways that we cannot fathom, and it is the most important commodity in the world. But how much does the average person, even the average engineer, know about it? This book describes the petroleum industry, in easy-to-understand language, for both the layperson and engineer alike. From the economics of searching for oil and gas to the pitfalls of drilling and production, getting it out of the ground, into pipelines, into refineries, and, finally, into your gas tank, this book covers the petroleum industry like no other treatment before. There is coverage of pricing and the economics of this very important resource, as well, which is useful not only to engineers, but to economists and, really, anyone who uses it. From jet fuel to gasoline to natural gas and plastics, petroleum is one of the integral products of our lives. We are practically bathed it in from birth, our food is protected by it, and it even has healing properties. Learn all about this incredible substance and its fascinating history and highly debated future. An Introduction to Petroleum Technology, Economics, and Politics: Gives a thorough summary of the petroleum and natural gas industry, from prospect to production to pipeline New technologies, such as directional and underbalanced drilling, are covered, in easy-to-understand language Useful not only for newcomers and laypersons, but for engineers and students, particularly those for whom English is a second language Examines the basics of pricing and valuation

This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. Packed with real-world examples and case studies demonstrating how to calculate rate of return, discounted cash flow, payout period, and more, Petroleum Economics and Engineering, Third Edition assists petroleum engineers, chemical engineers, production workers, management, and executives in sound economic decision-making regarding the design, manufacture, and operation of oil and gas plants, equipment, and processes. The fully revised third edition is updated to reflect key advancements in petroleum technology and expanded to include chapters on middle stream operations, known as surface petroleum operations (SPO), and natural gas processing and fractionation. By looking globally at the hydrocarbon industry, the improved text offers the reader a more complete picture of the petroleum sector, which includes the global processes of exploration, production, refining, and transportation.

First Published in 1969. Routledge is an imprint of Taylor & Francis, an informa company.

Introduction to Petroleum Economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. It discusses the science of petroleum economics, starting from square-one, the tools of the trade that petroleum economists use, day in and day out, and also its application. Along the way the author relates some helpful and informative anecdotes based on his almost twenty-year career as a petroleum economist. Vital for all oil professionals as well as students, Introduction to Petroleum Economics unravels the decision-making behind why a petroleum project moves ahead or ends