"as Americans bought record numbers of automobiles. Despite steadily growing domestic petroleum production, the American oil industry could not supply the rapidly growing demand, especially for gasoline, and the country had to import increasing amounts of oil, raising prices, and causing widespread speculation that petroleum would be soon exhausted. America was quickly running out of petroleum and into a permanent state of energy scarcity – or at least many experts said so. The average price of crude oil in the United States more than tripled, going from $0.64 per barrel in 1915 to US$2.01 in 1920. Domestic oil production grew,"
"Oil Outlook"" (WOO) annually, in which it presents a comprehensive analysis of the global oil industry including medium- and long-term projections for supply and demand. OPEC also produces an ""Annual Statistical Bulletin"" (ASB), and publishes more-frequent updates in its ""Monthly Oil Market Report"" (MOMR) and ""OPEC Bulletin"". A ""crude oil benchmark"" is a standardized petroleum product that serves as a convenient reference price for buyers and sellers of crude oil, including standardized contracts in major futures markets since 1983. Benchmarks are used because oil prices differ (usually by a few dollars per barrel) based on variety, grade, delivery date and"
"instead of oil barrels. Cubic metre is the basic volume unit in the International System. In Canada, oil companies measure oil in cubic metres but convert to barrels on export, since most of Canada's oil production is exported to the US. The nominal conversion factor is 1 cubic metre = 6.2898 oil barrels, but conversion is generally done by custody transfer meters on the border since the volumes are specified at different temperatures and the exact conversion factor depends on both density and temperature. Canadian companies operate internally and report to Canadian governments in cubic metres, but often convert to"
"Timken OK Load Timken OK Load is a standardized measurement that indicates the possible performance of extreme pressure (EP) additives in a lubricating grease or oil. The units of measurement are pounds-force or kilograms-force. This measurement is performed using a special test machine and standard block and ring test specimens. The test machine is based on a machine manufactured by the Timken Company from 1935 to 1972, It is now an industry recognized standard test to compare extreme pressure resistance of greases and oils in a reproducible way. ""It is not to be confused with some smaller, sales man's demonstrator,"
"Oil content meter An oil content meter (OCM) is an integral part of all oily water separator (OWS) systems. Oil content meters are also sometimes referred to as oil content monitors, bilge alarms, or bilge monitors. The OCM continuously monitors how much oil is in the water that is pumped out the discharge line of the OWS system. The OCM will not allow the oil concentration of the exiting water to be above the Marpol standard of 15 ppm. This standard was first adopted in 1977 with Resolution A.393(X) which was published by IMO. These standards were updated various but"
"(STP) for gas varies depending on the particular code being used. It is just as important to know the standard pressure as the temperature. Formerly, OPEC used 101.325 kPa (14.696 psia) but now the standard is 101.560 kPa (14.73 psia). Volume units used in petroleum engineering Several units of volume are used in petroleum engineering. Note that the m³ gas conversion factor takes into account a difference in the standard temperature base for measurement of gas volumes in metric and imperial units. The standard temperature for metric measurement is 15 degrees Celsius (i.e. 59 degrees Fahrenheit) while for English measurement"
"Volume units used in petroleum engineering Several units of volume are used in petroleum engineering. Note that the m³ gas conversion factor takes into account a difference in the standard temperature base for measurement of gas volumes in metric and imperial units. The standard temperature for metric measurement is 15 degrees Celsius (i.e. 59 degrees Fahrenheit) while for English measurement the standard temperature is 60 °F. Gas undergoes a slight expansion when the temperature is raised from 15 °C (59 °F) to 60 °F and this expansion is built into the above factor for gas. The ""standard"" temperature and pressure"
"crude oil traded at Hardisty, Alberta, Canada is 6.29287 U.S. barrels per cubic metre., despite the fact that crude oil cannot be measured to that degree of accuracy. Regulatory authorities in producing countries set standards for measurement accuracy of produced hydrocarbons, where such measurements affect taxes or royalties to the government. In the United Kingdom, for instance, the measurement accuracy required is ±0.25%. A barrel can technically be used to specify any volume. Since the actual nature of the fluids being measured varies along the stream, sometimes qualifiers are used to clarify what is being specified. In the oil field,"
"continued to use the same size barrels. In the worldwide oil industry, an oil barrel is defined as 42 US gallons, which is about litres or 35 imperial gallons. Oil companies that are listed on American stock exchanges typically report their production in terms of volume and use the units of bbl, Mbbl (one thousand barrels), or MMbbl (one million barrels) and occasionally for widest comprehensive statistics the Gbbl (or sometimes Gbl) denoting a billion. There is a conflict concerning the units for oil barrels (see ). For all other physical quantities, according to the International System of Units, the"
"is exactly equivalent to a volume of 158.987294928 litres. In the oil industry, following the definition of the American Petroleum Institute, a standard barrel of oil is often taken to mean the amount of oil that at a standard pressure (14.696 psi) and temperature (60 F) would occupy a volume of exactly 1 bbl. This standard barrel of oil will occupy a different volume at different pressures and temperatures. A standard barrel in this context is thus not simply a measure of volume, but of volume under specific conditions. The task of converting this standard barrel of oil to a"
"the oil industry in the 1800s. This has been especially true in the United States, where the ratio of proved reserves-to-production has been between 8 years and 17 years since 1920. Many have mistakenly interpreted the result as the number of years before the oil supply is exhausted. Such analyses do not take into account future reserve growth. The reserves-to-production ratio is the most widely quoted of the key indicators used in the oil and gas industry. It has a certain strategic significance for companies, which try to keep the value reasonably constant at approximately 10 years. A ratio which"
"which is 1,000BOE. Other common multiples are the million barrels per day, MMboed (or MMBOED, MMboepd), used to measure daily production and consumption, and the BBOe (also BBOE) or billion barrel of oil equivalent, representing 10 barrels of oil, used to measure petroleum reserves. Metric users may talk of the tonne of oil equivalent (TOE), or more often million TOE (MTOE). Since this is a measurement of weight, any conversion to barrels of oil equivalent depends on the density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 6.8-7.5"
"Due to these critical natures of measurements, petroleum companies around the world have developed and adopted standards to meet the industry's needs. In Canada, for instance, all measurement of a custody transfer nature falls under the purview of Measurement Canada. In the USA, the Federal Energy Regulatory Commission (FERC) controls the standards which must be met for interstate trade. Custody transfer of liquid flow measurement follow guidelines set by the ISO. By industrial consensus, liquid flow measurement is defined as having an overall uncertainty of ±0.25% or better. The overall uncertainty is derived from an appropriate statistical combination of the"
"customary system of ""dry measure"". In the international commodities markets, the barrel (, ~159 litres) is used in both London and New York/Chicago for trading in crude oil and the troy ounce (~31.10 grams) for trading in precious metals, otherwise the London markets use metric units and the Chicago Board of Trade uses customary units. The tables below catalogue the imperial units of measure that were permitted for use in trade in the United Kingdom on the eve of metrication (1976) and the customary ""units of measurement that have traditionally been used in the United States"". In addition, named units"
"oil concentration. This technique is accurate and not affected by fluid contamination, but needs to be performed by trained personnel in a laboratory environment. A hand-held refractometer is the industrial standard used to determine the mix ratio of water-soluble coolants that estimates oil concentration from the sample refractive index measured in the Brix scale. The refractometer allows for in situ measurements of oil concentration within industrial plants. However, contamination of the sample reduces the accuracy of the measure. Other techniques are used to measure the oil concentration in cutting fluids, such as measure of the fluid viscosity, density, and ultrasound"
"is, a measure of caloric output. This is generally considered a good overall measure of usefulness. The Fischer Assay has been modified, standardized, and adapted by the American Petroleum Institute. It does not, however, indicate how much oil could be extracted from the sample. Some processing methods yield considerably more useful product than the Fischer Assay would indicate. The Tosco II method yields over 100% more oil, and the Hytort process yields between 300% to 400% more oil. The size of the oil shale resources is highly dependent on which grade cut-off is used. A 2008 estimate set the total"
"dwellings (so that it may be used for irrigation or other purposes). This usage, known as rainwater harvesting, requires (besides a large rainwater barrel or water butt) adequate (waterproof) roof-covering and an adequate rain pipe. The standard barrel of crude oil or other petroleum product (abbreviated bbl) is . This measurement originated in the early Pennsylvania oil fields, and permitted both British and American merchants to refer to the same unit, based on the old English wine measure, the tierce. Earlier, another size of whisky barrel was the most common size; this was the barrel for proof spirits, which was"
"Total base number Total Base Number (TBN) is a measurement of basicity that is expressed in terms of the equivalent number of milligrams of potassium hydroxide per gram of oil sample (mg KOH/g). TBN is an important measurement in petroleum products, and the value varies depending on its application. TBN generally ranges from 6–80 mg KOH/g in modern lubricants, 7–10 mg KOH/g for general internal combustion engine use and 10–15 mg KOH/g for diesel engine operations. TBN is typically higher for marine grade lubricants, approximately 15-80 mg KOH/g, as the higher TBN values are designed to increase the operating period"
"(42 US gallons, 34.97 imperial gallons or 159.0 litres) used in the oil industry has the dimension of volume and could be replaced by the gallon, cubic metre or litre. The definitions of potential difference (volt), electric current (ampere), electrical resistance (ohm) were defined in terms of metric units, international agreement having been reached at a series of IEC Congress in Chicago between 1881 and 1906 when the electrical industry was in its infancy. At that time the metric system had become established in continental Europe while in the United Kingdom metrication was an active issue. Similarly, the units of"
"blowout. Mud weight In the oil industry, mud weight is the density of the drilling fluid and is normally measured in pounds per gallon (lb/gal) (ppg) or pound cubic feet (pcf) . In the field it is measured using a mud scale or mud balance. In conventional drilling fluids, barite is used to increase the density. Although other additives such as halite (salt) or calcium carbonate can also be used. Mud weight can be decreased by dilution or solids control equipment such as an industrial centrifuge, desilter, desander and shale shaker . Mud weight use to control the trapped fluids"
"is a very important concept in the oil and gas industry. Pressure can be defined as: the force exerted per unit area. Its SI unit is newtons per square metre or pascals. Another unit, bar, is also widely used as a measure of pressure, with 1 bar equal to 100 kilopascals. Normally pressure is measured in the U.S. petroleum industry in units of pounds force per square inch of area, or psi. 1000 psi equals 6894.76 kilo-pascals. Hydrostatic pressure (HSP), as stated, is defined as pressure due to a column of fluid that is not moving. That is, a column"
"standard cubic metre of oil is complicated by the fact that the standard cubic metre is defined by the American Petroleum Institute to mean the amount of oil that at 101.325 kPa and 15 C occupies 1 cubic metre. The fact that the conditions are not exactly the same means that an exact conversion is impossible unless the exact expansion coefficient of the crude is known, and this will vary from one crude oil to another. For a light oil with an API gravity of 35, warming the oil from 15.00 °C to 60.00 °F (which is 15.56 °C) might"
"Fischer assay The Fischer assay is a standardized laboratory test for determining the oil yield from oil shale to be expected from a conventional shale oil extraction. A 100 gram oil shale sample crushed to <2.38 mm is heated in a small aluminum retort to at a rate of 12°C/min (22°F/min), and held at that temperature for 40 minutes. The distilled vapors of oil, gas, and water are passed through a condenser and cooled with ice water into a graduated centrifuge tube. The oil yields achieved by other technologies are often reported as a percentage of the Fischer Assay oil"
"measuring oil is the metric tonne. The advantage of the latter measure is that it reflects oil quality. In general, lower grade oils are heavier. History of the petroleum industry in Canada (oil sands and heavy oil) Canada's oil sands and heavy oil resources are among the world's great petroleum deposits. They include the vast oil sands of northern Alberta, and the heavy oil reservoirs that surround the small city of Lloydminster, which sits on the border between Alberta and Saskatchewan. The extent of these resources is well known, but better technologies to produce oil from them are still being"
"functional group of the salt produced when trifluoroacetic acid (TFA) reacts with basic constituents present in an oil sample. Total base number Total Base Number (TBN) is a measurement of basicity that is expressed in terms of the equivalent number of milligrams of potassium hydroxide per gram of oil sample (mg KOH/g). TBN is an important measurement in petroleum products, and the value varies depending on its application. TBN generally ranges from 6–80 mg KOH/g in modern lubricants, 7–10 mg KOH/g for general internal combustion engine use and 10–15 mg KOH/g for diesel engine operations. TBN is typically higher for"
"Benchmark (crude oil) A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition. Benchmarks are used because there are many different varieties and grades"
"first. The density is also an important parameter for fuel oils since marine fuels are purified before use to remove water and dirt from the oil. Since the purifiers use centrifugal force, the oil must have a density which is sufficiently different from water. Older purifiers work with a fuel having a maximum of 991 kg/m3; with modern purifiers it is also possible to purify oil with a density of 1010 kg/m3. The first British standard for fuel oil came in 1982. The latest standard is ISO 8217 issued in 2017. The ISO standard describe four qualities of distillate fuels"
"tester utilizing similar test method for public demonstration or for product showcase. Example of smaller and portable version: www.linhphan.vn/timken 2. Smaller and portable version of Timken Tester Timken OK Load Timken OK Load is a standardized measurement that indicates the possible performance of extreme pressure (EP) additives in a lubricating grease or oil. The units of measurement are pounds-force or kilograms-force. This measurement is performed using a special test machine and standard block and ring test specimens. The test machine is based on a machine manufactured by the Timken Company from 1935 to 1972, It is now an industry recognized"
"Barrel of oil equivalent The barrel of oil equivalent (BOE) is a unit of energy based on the approximate energy released by burning one barrel (42 U.S. gallons or 158.9873 litres) of crude oil. The BOE is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure, although this energy equivalence does not take into account the lower financial value of energy in the form of gas. The U.S. Internal Revenue Service defines a BOE as equal to 5.8 × 10 BTU. (5.8 ×"
"kg/m. The 1980 value is 999.012 kg/m. In some cases the standard conditions may be 15 °C (59 °F) and not 60 °F (15.56 °C), in which case a different value for the water density would be appropriate (""see"" standard conditions for temperature and pressure). There are advantages to field testing and on-board conversion of measured volumes to volume correction. This method is detailed in ASTM D287. Generally speaking, oil with an API gravity between 40 and 45° commands the highest prices. Above 45°, the molecular chains become shorter and less valuable to refineries. Crude oil is classified as light,"
"60 °F) has an API gravity of: In the oil industry, quantities of crude oil are often measured in metric tons. One can calculate the approximate number of barrels per metric ton for a given crude oil based on its API gravity: For example, a metric ton of West Texas Intermediate (39.6° API) has a volume of about 7.6 barrels. To derive the API gravity, the specific gravity (i.e., density relative to water) is first measured using either the hydrometer, detailed in ASTM D1298 or with the oscillating U-tube method detailed in ASTM D4052. Density adjustments at different temperatures, corrections"
"unit in a crude oil production facility. In the ISO 5725-1 standard accuracy for measuring instruments is defined as “the closeness of agreement between a test result and the accepted reference value”. This term “accuracy” includes both the systematic error and the bias component. Each device has its manufacturer stated accuracy specification and its tested accuracy. Uncertainty takes all the metering system factors that impact measurement accuracy into account. The accuracy of flowmeters could be used in two different metering systems that ultimately have different calculated uncertainties due to other factors in the system that affect flow calculations. Uncertainty even"
"discharge line and shines a light through the sample to an optical sensor. Since small oil droplets will diffract and diffuse light, a change in signal at the sensor will indicate the presence of oil. At a certain signal setting that is roughly equivalent to 15 ppm, the sensor will conclude that there is too much oil going through the discharge line. This calibration generally takes place in a lab, but can be tested by use of a three-sample liquid aboard the vessel. If the OCM ends up sampling a certain amount of heavy oil, the OCM will be fouled"