05.07.2009
Denotes the maximum power requirement of a system at a given time, or the amount of power required to supply customers at times when need is greatest
Term that parallels peak oil but probably bears a closer relation to the facts that stem from peak oil. Peak capability refers to the ability of oil and gas companies to be able to match the earth’s resource endowment on the one hand, with the capability – technology, skills and know-how – required to bring those resources to market on the other. It is generally accepted that the days of ‘easy oil’ are well behind us. For International Oil Companies, and increasingly National Oil Companies too, new resources are harder to reach and tougher to produce. Resources are now found in increasingly challenging environments: reservoirs which lie at greater water depths, at higher temperatures and pressures and require complex drilling and completion designs – in the deserts of the Middle East and North Africa; in the deepest waters of the Gulf of Mexico, West Africa and Brazil; and in the Alaskan and Russian Arctic. Furthermore, many of these resources are controlled by NOCs which do not always have the same capability at their disposal as IOCs. Bringing them into production is going to be difficult. It will require that the capability gap be filled. Turning these resources into reserves and then production is going to require leadership, ingenuity and innovation as well as technology. That is the capability challenge.
The company was established in 1935 and is amongst the largest LPG suppliers in Israel
Paz is Israel’s leading oil refining and marketing energy corporation. Paz went public on the Tel Aviv Stock Exchange at the end of 2006. Paz is controlled by Bino Holdings. Paz is the largest operator of filling stations and convenience stores in Israel. As of the end of 2006, the Paz chain comprised about 260 filling stations across Israel. One of Paz’s growth areas is its Yellow chain of convenience stores. Paz owns several subsidiaries that are considered market leaders their fields, including: Paz Lubricants and Chemicals, Pazkar that produces and markets bitumen, coatings and adhesives, Pazgas: Israel’s largest supplier of LPG, Paz Aviation Assets and Aviation Services, Pazomat: Israel’s largest electronic self-service fuel filling firm. In September 2006, Paz won the Israeli government tender to purchase the Ashdod Oil Refinery for $750 million. The Ashdod Oil refinery is capable of refining about 4 million tons of crude oil per year.
Owner of the aviation fuel tank farm at Ben Gurion International Airport and main provider of fueling services to airlines operating at the Airport and domestic Israeli airports
The point at which all costs of leasing, exploring, drilling and operating have been recovered from production of a well as defined by contractual agreement
The stratum of rock in which oil and/or gas is found. The part of a formation which produces or is capable of producing oil or gas, or other economic product
A fully transparent contract based on fixed energy rates. If natural gas is a pass-through for an IPP this signifies usually that the cost of the gas is fully approved by the regulator as part of the electricity tariff