05.07.2009
An expenditure intended to benefit the future activities of a business, usually by adding to the assets of a business, or by improving an existing asset.
For income tax purposes, the costs of capital expenditures which may be recovered by deduction against income (through depreciation and depletion). Spending on equipment including buildings and machinery. In the energy economy this terms refers to the cost of field development and plant construction and the equipment required for industry operations
CERA is an IHS company and is a leading advisor to international energy companies, government, financial institutions and technology providers. CERA delivers critical knowledge and independent analysis on energy markets, geopolitics, industry trends and strategy.
Calorific value (CV) is a measure of heating power and is dependent upon the composition of the gas. The CV refers to the amount of energy released when a known volume of gas is completely combusted under specified conditions. The CV of gas, which is dry, gross and measured at standard conditions of temperature and pressure, is usually quoted in megajoules per cubic meter (MJ/m3). Knowledge of the CV of natural gas is an essential part of a transmission system’s activities as this information is used to determine the amount of energy transported and thus CV information is usually provided daily to gas shippers and suppliers, which is then used to bill gas consumers. The data is also used to determine transportation charges for gas shippers and suppliers. The CV of natural gas is measured continually using process gas chromatographs. Process gas chromatographs separate natural gas into its constituent compounds (i.e. methane, ethane, carbon dioxide, etc.) and measure the amount of each in the gas.
A crust of coarse sediments or weathered soil rich in calcium carbonate. It forms when lime-rich groundwater rises to the surface by capillary action and evaporates into a crumbly powder, forming a tough, indurated sheet called calcrete. Caliche typically occurs in desert or semi-arid areas. Of particular concern to geophysicists is the difficulty in acquiring good seismic data when shooting through a layer of caliche
The Buzzard field is located in the Outer Moray Firth, central North Sea. The field’s total recoverable reserves are estimated at more than 550 million barrels of oil. The development required an investment of £1.491bn. The field was discovered in 2001.
The repurchase of outstanding shares by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may be looking for a controlling stake. Buyback is a method for a company to invest in itself since they can’t own themselves. In 1994 the top five oil companies were spending 3% of their free cash on share buyback and 15% on exploration. By 2007 the ratio had changed to 34% on buyback of their own shares and only 6% on exploration, thus propping up their share price. This trend reflected big oil companies’ difficulties in finding uses for their large cash flows
Crude oil or natural gas purchased from a host government whereby a portion of the government’s ownership interest in the crude oil/gas produced in that country may or should be purchased by the producing firm (see also buy-back agreement)
Namely, If governments around the world continue with energy policies in place to date. International Energy Agency says 2050 baseline scenario is for oil demand to rise 70% – equivalent to five times today’s production of Saudi Arabia. IEC’s business as usual baseline scenario, oil demand rises from its present level of 87 mmb/d in 2008 to 135 mmb/d by 2050. Regarding climate change, business as usual is a scenario used for projections of future emissions assuming no action, or no new action, is taken to mitigate the problem.
Measure of thermal energy released by nuclear fuel relative to its mass, typically Gigawatt days per ton (GWd/tU).