A technique for estimating values at those locations which have not been sampled. This process is known as ‘kriging’. The basic technique “ordinary kriging” uses a weighted average of neighbouring samples to estimate the ‘unknown’ value at a given location. Weights are optimized using the semi-variogram model, the location of the samples and all the …
Marginal Cost can mean a number of things but I would take this to mean the cost you incur to produce the next or incremental MMbtu of gas. So essentially the running costs, not the capex. In other words, having made the investment, you may be prepared to keep a field in production even though …
The term oil shale generally refers to any sedimentary rock that contains solid bituminous materials (called kerogen) that are released as petroleum-like liquids when the rock is heated in the chemical process of pyrolysis
This field is an area that has been studied as a means to extract volatile chemicals from most media. This approach was initially investigated for a group of analytes that are commonly known as volatile organic compounds (VOCs). The VOCs include some of the most common organic compounds that are used by industry and include …
One of the characteristics of the electric power sector is that the amount of electricity that can be generated is relatively fixed over short a period of time, whilst demand for electricity fluctuates throughout the day. In addition, the cost of generating electricity differs throughout the day with more costs involved usually during peak consumption …
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A new process developed at Stanford that simultaneously combines the light and heat of solar radiation to generate electricity in a way that could make solar power production more than twice as efficient as existing methods and potentially cheap enough to compete with oil. Unlike photovoltaic technology currently used in solar panels – which becomes …
The danger is that we could run short of oil or gas above ground where access and politics come into play rather than below ground where geology and exploration come into play There has been a remarkable expansion in the amount of thinking devoted to energy and energy policy in most of the major countries …
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Platts Japan Korea Marker is the LNG benchmark price assessment for spot physical cargoes delivered ex-ship into Japan and South Korea. As these two countries take the largest share of LNG imports in the world, Platts JKM is thus a key reference in marking product value/market price from supply source to the destination market. In …
Because of the fundamentals of gas, secondary market for oil is more developed than that for gas which still relies more on long term contracts. The secondary market is essentially the oil trading market. The same cargo or parcel of oil can change hands many times before it is actually loaded on a tanker or …
