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Crude oil is the term used for oil that is taken straight out of the ground. It is a "fossil fuel," which means that it formed from organic remains over a period of millions of years. It can be refined into various forms of energy such as gasoline, diesel fuel and heating oil. It also is a key component in a variety of products. For example, crude oil is an important ingredient in plastics, medicines, crayons and tires. About 84 percent of the United States’ energy consumption comes from fossil fuels and approximately 40 percent of all energy used comes from various petroleum products that start out as crude oil. Crude oil's characteristics vary from "light" - which is a straw-colored liquid - to "heavy" or tar-black solid. It also is called "sweet" or "sour" depending on the amount of sulfur it contains. An abundant commodity, world proven reserves stand at 1,295,085 million barrels.Crude oil is processed at refineries and transformed into useable petroleum products. The cost of transporting and moving crude oil to refineries, plus processing fees, greatly affects the final cost of petroleum products. Motor gasoline constitutes about half of the total volume of products produced from crude oil. Topics like Carnot engine, refrigeration, hydrocarbon number are of interest.
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Scope and Importance:
The Crude Oil Quality Association (COQA) is dedicated to the belief that maintaining the integrity and consistency of the refining characteristics of crude oil streams is of importance to all parties involved in crude oil activity, from production locations to the refinery. The COQA believes the commonly used industry standards of gravity and sulfur do not adequately define crude oil quality, and should be expanded to include other characteristics. The COQA is opposed to the alteration of crude oil streams, such as through the injection of processed gas liquids, without the knowledge and consent of the parties involved.
To promote these beliefs, the COQA will strive to
Communicate our beliefs to the oil industry at large;
Create and sponsor forums for open communications and the sharing of information and ideas to better educate the crude oil industry;
Be pro-active in the advancement of our beliefs with all areas for the crude oil arena, including production, transportation, trading, and refining sectors;
Improve the overall quality of crude streams through the promotion of crude quality programs on common carrier transportation systems.
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States’ WTI (West Texas Intermediate) and United Kingdom’s Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
List of best conferences:
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Green Energy and Expo
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Bioprocess and Biosystems Engineering Conference
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Crude Oil Summit
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Middle East Crude Oil Summit
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Asia Crude Oil Summit
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Canadian Crude Oil Conference
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Argus Americas Crude Summit
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•The Crude Oil Quality Association
•Canadian Crude Quality Technical Association
•Alabama Natural Gas Association (ANGA)
•Alaska Oil & Gas Association (AOGA)
•American Association of Petroleum Geologists (AAPG)
•American Association of Professional Landmen (AAPL)
•American Gas Association (AGA)
•American Exploration & Production Council (AXPC)
•American Institute of Chemical Engineers (AIChE)
•American Natural Gas Alliance (ANGA)
•Canadian Natural Resources Limited
•Petróleos de Venezuela
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This page was last updated on 14th Sep, 2015
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