05.07.2009

An artificial lift method in which gas is injected into the production tubing to reduce the hydrostatic pressure of the fluid column. The resulting reduction in bottomhole pressure allows the reservoir liquids to enter the wellbore at a higher flow rate. The injection gas is typically conveyed down the tubing-casing annulus and enters the production train through a series of gas-lift valves. The gas-lift valve position, operating pressures and gas injection rate are determined by specific well conditions

Increasing the pressure at the bottom of the well over and above the pressure activated by the drilling fluid

The futures contract closest to maturity. The nearby delivery month

Dividends are paid only after all other categories of equity shares have received fixed rates of dividend

Disposing of waste gas by burning.

Gas associated with oil extraction is burnt off into the atmosphere. Flaring of produced gas – the process of burning-off surplus combustible vapors from a well, either as a means of disposal or as a safety measure to relieve well pressure – is the most significant source of air emissions from offshore oil and gas installations.

For many years when natural gas prices were too low, companies that drilled for oil and used to discover gas, would vent the gas into the atmosphere. The standard joke at the time used to be: I have good news and bad news. The bad news is that I didn’t find any oil, and the good news is that at least I didn’t discover any gas either.

Today, Nigeria still flares more gas than any other country, which contributes to global warming. Nigeria flares 24 bcm of gas per annum

The sale and purchase of a commodity at a price, quantity and quality agreed in advance for delivery on a specified future date. Or, formal exchange that trades contracts for delivery of a specific type of oil in future months. Only a very small volume results in actual delivery, and in some markets there is only cash settlement. The presence of a clearinghouse and regular daily margin payments on all positions ensures the financial integrity of the operation at all times. The market is open to all participants. It is also a commodities market in which delivery of not-yet-produced goods or services are purchased and sold using auction or stock-market-style bidding procedures. Buying and selling on this market is risky for both buyer and seller, because prices may change dramatically in either party’s favor between the time that the futures contract is purchased and the time that the actual delivery and sale is made. In return for these risks, sellers can raise operating capital on this market by selling their future production, and buyers can lock in prices on needed goods and services as a hedge against unanticipated price increases. > >

When an agreement is made to acquire goods or services on the futures market, the buyer and seller enter into a futures contract. An agreement to pay a pre-arranged price for a barrel of oil at some point in the future, hence future contract, so that a buyer undertakes to buy oil at an agreed upon price per barrel at an agreed date. The participants in futures contracts can basically be divided into three categories: hedgers (who want to neutralize their risks), speculators (who take risks with their investments) and arbitrageurs who may gains with no investment and at no risk.

A financial measure used by REITs to define their operating performance. FFO is calculated by adding depreciation and amortization expenses to earnings. This gives an idea of the REIT’s cash performance, which is a better measure of the REIT’s performance than earnings, which include (often large) non-cash items

A condition known (in the UK) when a household spends 10% or more of its income on energy to maintain warmth and comfort levels. The term originated in early 1980s from the UK and Ireland’s grass roots environmental health movements. With the energy crises of 1973/74 and 1979, low-income households experienced difficulties with increased heating bills >

Israel’s four main fuel companies are: Delek Israel Fuel Corporation Ltd., Paz Oil Company Ltd., Sonol Israel Ltd. and Dor Alon Energy in Israel Ltd. >