EngineeringThe Petroleum Industry – Crude Oil Classification and Benchmarks

The Petroleum Industry – Crude Oil Classification and Benchmarks

SKU: RV-10523
Duration: 1.00 Hr

Fluctuations in the price of oil triggered the debate regarding the level of world oil reserves, and the capacity to meet future energy demand has taken on a new impetus. This has led to reinvestigation of the methods of crude oil classification and classification of reserves. For the purpose of the course, we’ll define petroleum as a naturally occurring mixture of hydrocarbons, generally in a liquid state (that may also include compounds of sulfur, nitrogen, oxygen, metals, and other elements) which occurs in sedimentary rock deposits throughout the world. However, the definition of petroleum-associated materials has been varied, unsystematic, diverse, and often archaic. It is only recently that some attempt has been made to define these materials in a meaningful manner. Thus, it is not surprising that attempts to classify petroleum have also evolved. In this course we will review these methods and present them to you for further consideration in terms of pricing strategies.
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Course Details

Learning Objectives

At the end of this course, you will be able to:

  • Discuss the elements that make up worldwide crude oil economics
  • Identify the attributes involved in classifying crude oil
  • Define the criteria for classifying crude oil reserves
  • Describe the global crude oil benchmarks

Specs

Course Level Fundamental
Languages English
Compatibility Audio, MobileReady

Dr. James G. Speight C. CChem., FRSC, FCIC, FACS

Author

Dr. James G. Speight C. CChem., FRSC, FCIC, FACS earned his B.Sc. and PhD degrees from the University of Manchester, England – he also holds a DSC in The Geological Sciences (VINIGRI, St. Petersburg, Russia) and a PhD in Petroleum Engineering, (Dubna International University, Moscow, Russia). Dr. Speight is the author of more than 50 books in petroleum science, petroleum engineering, and environmental sciences. Formerly the CEO of the Western Research Institute (now an independent consultant), he has served as Adjunct Professor in the Department of Chemical and Fuels Engineering at the University of Utah and in the Departments of Chemistry and Chemical and Petroleum Engineering at the University of Wyoming. In addition he has also been a Visiting Professor in Chemical Engineering at the following universities: the University of Missouri-Columbia, the Technical University of Denmark, and the University of Trinidad and Tobago. Dr. Speight was elected to the Russian Academy of Sciences in 1996 and awarded the Gold Medal of Honor that same year for outstanding contributions to the field of petroleum sciences. He has also received the Scientists without Borders Medal of Honor of the Russian Academy of Sciences. In 2001, the Academy also awarded Dr. Speight the Einstein Medal for outstanding contributions and service in the field of Geological Sciences.

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