05.07.2009
Weight in pounds of a gallon of drilling fluid, which can be twice the weight of water
Although there have been improvements in health and safety offshore since the Piper Alpha disaster in 1988 the risks are ever present – fire, explosion, release of gas and structural failure all have the potential to cause major loss of life. Specific legislation exists to deal with the hazards arising from the operation of fixed/mobile installations, wells and pipelines. The oil and gas sector is a dynamic rapidly changing industry but with an ageing infrastructure and increasing cost pressures as the available oil and gas declines. These issues, together with the geographically isolated workforce, and the inherent hazards in working offshore require high standards of management of health and safety.
Two British companies that conducted an LNG feasibility study for the Israeli Ministry of National Infrastructure in 2007
The price determined by the Seven Sisters (Exxon, Texaco, Mobil, Socal/Chevron, Gulf, Shell, BP) for each type of crude oil, during the first days of the oil industry in the US when each company posted the price of its oil on the pillar at the entrance of their company
Colloquial, non-industry-specific term for a rate structure in which each customer in a given class is charged the same rate for a commodity as every other customer, regardless of the cost of serving different customers in the same class. Also refers to rates set for all customers in a given territory regardless of their distance from the point where the given service or commodity is supplied. Derived from the traditional practice of pricing postage identically for all deliveries from all parties regardless of location or cost of service. The tariff for the transmission of natural gas is a postalized tariff meaning it is the same tariff for all consumers regardless of the distance the gas needs to be transmitted through