Oil Trading

Oil Trading – Background

Oil is a raw material extracted from the ground. It is a viscous liquid that consists of hydrogen, sulfur, nitrogen and carbon. The crude oil is drilled out and transported in barrels to different refineries all over the world. Refineries heat the oil in refinery towers. Since every element of the crude oil has a different boiling point, the crude oil can be divided (refined) into different world-driving liquids:

Gas                                                   Fuel
Gasoline                                          Diesel fuel
Lubricants                                      Asphalt and wax

The oil industry was founded in 1850 in Pennsylvania. Over the years this industry has been developed in many countries and regions, especially in the Middle East which is now responsible for about 50% of the global oil production.

In 1960, the Saudi Arabia, Iraq, Iran, Kuwait established the OPEC (Organization for the Petroleum Exporting Countries), which was later joined by other countries. OPEC’s purpose is to safeguard the cartel’s interests. The OPEC, dominated by Arab countries and having crucial effect on the petroleum production and prices, caused a number of world energy crises making oil prices highly volatile.

Today crude oil and its different products are a part of the world commodities market. Up until recently only the producing countries, refineries, major oil consumers (airlines or petroleum companies) and financial institutions traded oil. In 2002 new trading method was adopted – Online Trading platform, allowing private traders to execute transactions from home, without visiting the trading floor or even calling the broker.

For those who are not familiar with the oil trading field here are some of the key terms:

BBL – barrel of crude oil = 42 US gallons

CF – cubic feet (feet3), a unit measurement for natural gas

BTU – British thermal unit of energy, used to determine the oil or gas quality when they are burned.

BOE – barrel of oil equivalent. It’s a unit of energy received by burning one barrel of crude oil. Oil and gas companies use the BOE in their financial statements as a rather convenient way to combine reserves and production into one measurable unit.

BBL/D – barrels per day. This term measures daily production or consumption. The term can also appear as bpd, bd or b/d.

BOEPD (BOE/D) – barrels of oil equivalent per day. It’s generally considered that one barrel of oil and 6000 feet3 hold the same amount of energy.

TOE – ton of oil equivalent of approximately 6.841 BBOE.

Measurements – every term on this list can be defined by a unit of measurement, for example, 25 MBOE means 25 thousand BOE.

About the Author

Day Trading Strategies Oil Trading -Forex Trading- Emini Trading 5 31 2011

Misto Olive Oil Sprayer …

12-oz. Squeeze Bottles 3 pk. – Clear $0.95 Kitchen Supply Company’s 12–oz. clear bottles make food prep easy and fun. Tapered nozzle on bottle can be snipped to create thick or thin ribbons of sauce for decorating desserts, frosting a cake or fast dispensing of salad dressing or condiments. Clear bottle shows level of contents. Top screws on firmly so it won’t fly off no matter how hard you squeeze. Top–rack dishwasher safe….

Pyrex Prepware Measuring Cup, Clear with Red Measurements Pyrex Prepware 2-cup measuring cup includes 1-each 2-cup measuring cup with red graphics. Whether you are preparing a multi-course meal or simply a snack for one, Pyrex offers products which make food preparation a little easier, from beginning to end. There’s no substitute for Pyrex, the original glass bakeware. Introduced 90 years ago and made of a durable, high temperature material, Pyrex rema…

Olay 2-in-1 Normal Daily Facial Cloths, 66-Count $7.68 Soap-Free. Dermatologist Tested. Contains Beta-Hydroxy. These specially textured, hydrating, soap-free cloths combine lathering cleansers and conditioners to:-remove dirt, oil and make-up – even mascara-gently exfoliate and smooth skin’s texture-condition skin with essential Olay conditioners….

Trading Snakeoil for Wolftickets $6.48 San Diego based singer-songwriter Gary Jules was brought to the world’s attention with his haunting cover of Tears for Fears’ “Mad World”, but Trading Snakeoil for Wolf Tickets may surprise fans expecting more of the same. There is a strong sense of West Coast country-tinged folk, with pop influences drawn from the Byrds, intelligent prose from Simon & Garfunkel and a velvety drawl from somewhere …

Trading Snake Oil for Wolftickets $13.98 San Diego based singer-songwriter Gary Jules was brought to the world’s attention with his haunting cover of Tears for Fears’ “Mad World”, but Trading Snakeoil for Wolf Tickets may surprise fans expecting more of the same. There is a strong sense of West Coast country-tinged folk, with pop influences drawn from the Byrds, intelligent prose from Simon & Garfunkel and a velvety drawl from somewhere …

Woodstock SteeleX D1130 1000 Grit and 6000 Grit Japanese Waterstone $34.99 To achieve a surgically sharp edge on your tools, nothing works faster or better than Japanese water stones. The abrasive slurry produced on top of the stone cuts aggressively and polishes the blade as it sharpens. If you’ve never tried sharpening with water stones before, you’ll be astounded by the results. Combo Stone, 1000/6000 Grit….

Allen Company Light Weight Low Profile Sound Sensor Hearing Protection, 2320 $14.99 Allen Ultra-Light Sound Sensor…

Campbell Hausfeld TL050299AV 1/2-Inch Impact Wrench Grab-N-Go Tool Kit $29.98 Campbell Hausfeld 1/2″ Impact Wrench. Serving up a beefy 250 ft. – lbs. of torque! Power to spare! Pneumatic leader Campbell Hausfeld nails it again… the patented single hammer impact mechanism provides all the raw torque you need. Rotate tires and do other auto work. Drive lug nuts, bolts, and other impact fasteners like a champ. And more. Whatever it is, get it done with Campbell Hausfeld. Mak…

Ladyhawke $14.98 This lushly produced fantasy has gained a loyal following since its release in 1985, and it gave a welcomed boost to the careers of Matthew Broderick, Michelle Pfeiffer, and Rutger Hauer. You have to ignore the overly aggressive music score (critic Pauline Kael aptly dubbed it “disco-medieval”) and director Richard Donner’s reckless allowance of anachronistic dialogue and uninspired storytelling, …

Banyan Trading Co’s Nasya Oil 1 oz $10.95 Banyan Trading Co’s Nasya Oil 1 oz

Banyan Trading Co’s Brahmi Oil 4 oz $8.95 Banyan Trading Co’s Brahmi Oil 4 oz

Banyan Trading Co’s Mahanarayan Oil 4 oz $11.95 Banyan Trading Co’s Mahanarayan Oil 4 oz

Banyan Trading Co’s Almond Oil 1 qt $19.95 Banyan Trading Co’s Almond Oil 1 qt

Banyan Trading Co’s Neem Oil (Certified Organic) 32 oz $35.95 Banyan Trading Co’s Neem Oil (Certified Organic) 32 oz

Banyan Trading Co’s Neem Oil (Certified Organic) 4 oz $8.95 Banyan Trading Co’s Neem Oil (Certified Organic) 4 oz

Banyan Trading Co’s Bhringaraj Oil (Organic) 32 oz $35.95 Banyan Trading Co’s Bhringaraj Oil (Organic) 32 oz

Banyan Trading Co’s Bhringaraj Oil (Organic) 4 oz $8.95 Banyan Trading Co’s Bhringaraj Oil (Organic) 4 oz

Banyan Trading Co’s Brahmi Oil (Organic) 32 oz $35.95 Banyan Trading Co’s Brahmi Oil (Organic) 32 oz

Banyan Trading Co’s Brahmi Oil (Organic) 4 oz $8.95 Banyan Trading Co’s Brahmi Oil (Organic) 4 oz

Banyan Trading Co’s Ashwagandha/Bala Oil 1 qt $35.95 Banyan Trading Co’s Ashwagandha/Bala Oil 1 qt

Banyan Trading Co’s Coconut Oil (Organic) 1 qt $11.5 Banyan Trading Co’s Coconut Oil (Organic) 1 qt

Banyan Trading Co’s Sesame Oil (Organic) 1 qt $13.95 Banyan Trading Co’s Sesame Oil (Organic) 1 qt

Banyan Trading Co’s Sunflower Oil (Organic) 1 qt $11.95 Banyan Trading Co’s Sunflower Oil (Organic) 1 qt

Trading in Oil Futures and Options $136.45 No Synopsis Available

‘Globe’ Oil Burning Torch $34.75 Voted Oil Lamps Best Buy in the July 2011 edition of Amateur Gardening magazine, this beautiful torch received 19 out of 20 points to win the category :- .5 stars for build, 4 stars for features, 5 stars for performance and 5 stars for value This classic oil burning garden torch is designed to burn for up to 6 hours, and is supported by a fixed 1 metre long stem. it is easy to fill with any lamp oil although we love using scented citronella oil to keep the insects at bay. The lamps can be simply placed into your borders or alternatively into pots or planters to provide light wherever you need them. See also our CYLINDER OIL TORCH or STEEL/GLASS OIL TORCH for an alternative look. A unique gift solution for your garden loving friends. It comes in a choice of two colours – Stainless Steel or Shiny Copper. 15cm x 15cm on 1m stem

1879 In International Relations $14.14 Purchase includes free access to book updates online and a free trial membership in the publisher’s book club where you can select from more than a million books without charge. Chapters: 1879 Treaties, States and Territories Established in 1879, Dual Alliance, 1879, Mosul Province, Ottoman Empire, Treaty of Gandamak, International Congo Society. Not illustrated. Excerpt: The Mosul Vilayet had a Kurdish speaking population and an Arabic speaking population, and in contrast to Mosuls neighbors, it was much more directly integrated into the Ottoman Empire. With regards to the religious communities, it was predominately Sunni with notable communities of Turkmen, Kurds, Jews and Christians with a total population of about 800,000 people in the early 1900s. These communities and their respective leaders were heavily influenced by the political hierarchy, trading networks, and the judicial system of the Ottoman Empire, even though they considered themselves on their own and not completely controlled by the empire. During the period of Ottoman rule, Mosul was involved in the production of fine cotton goods. Oil was a known commodity in the region and it became critically important during WWI and continuing until today. Mosul was considered a trading capital of the Ottoman Empire because of its location along the trade routes to India and the Mediterranean; also it was considered a political sub-capitol. However there were many issues in the Vilayet during the Ottoman period. The leadership was constantly plagued with accussations of corruption and incompetence, and leaders were replaced with an alarming regularity. Also, because of these problems, the administration of Mosul was entrusted to Palace and notable favorites, where the high officials careers were usually determined by tribal issues within their states. At the end of WWI, the debilitated Ottoman Empire signed an armistice with the British called the Mudros Armistice and… More:

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $1.99 Stephen Howarth,Hardcover, English-language edition,Pub by Orion Publishing Group, Limited

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $178.78 New

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $0.99 Used – Oil changed the 20th century: to mark Shell Transport and Trading’s centenary, a book based on unrestricted access to Shell’s archives.

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $275.79 New

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $0.62 Used – Oil changed the 20th century: to mark Shell Transport and Trading’s centenary, a book based on unrestricted access to Shell’s archives.

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $199.05 New

A Century in Oil: The Shell Transport and Trading Company 1897-1997 $309.01 New

A Chronicle of Grand Bonny $22.95 The contemporary reader probably best remembers the State of Bonny for the 1967 capturing of Nigeria’s main oil port terminal from the secessionists by Federal Government forces – a local victory against military and economic blockades. This work is largely the result of the reinterpretaion of oral tradition and nineteenth century manuscripts in the light of recent research. In bringing together records of nineteenth century diplomatic relations of Bonny with foreign and neighbouring states, the study traces the significance of Bonny from the first Portuguese settlers and the Atlantic slave trade to the increasing British dominance in the nineteenth century, the rudiments and role of the European trading community in the twentieth century and independent Nigeria.

A Cold-Blooded Business (Kate Shugak Series #4) $34.59 In the first hadcover mystery from 1993 Edgar winner Dana Stabenow, Alaskan P.I. Kate Shugak goes undercover to get to the bottom of illicit drug trading on the TransAlaska pipeline. But while Kate’s combing the oil fields for clues, the dealers unmask her cover.

A Cold-Blooded Business (Kate Shugak Series #4) $4.99 In the first hadcover mystery from 1993 Edgar winner Dana Stabenow, Alaskan P.I. Kate Shugak goes undercover to get to the bottom of illicit drug trading on the TransAlaska pipeline. But while Kate’s combing the oil fields for clues, the dealers unmask her cover.

A Cold-Blooded Business (Kate Shugak Series #4) $24.99 In the first hadcover mystery from 1993 Edgar winner Dana Stabenow, Alaskan P.I. Kate Shugak goes undercover to get to the bottom of illicit drug trading on the TransAlaska pipeline. But while Kate’s combing the oil fields for clues, the dealers unmask her cover.

A Cold-Blooded Business (Kate Shugak Series #4) $39.97 In the first hadcover mystery from 1993 Edgar winner Dana Stabenow, Alaskan P.I. Kate Shugak goes undercover to get to the bottom of illicit drug trading on the TransAlaska pipeline. But while Kate’s combing the oil fields for clues, the dealers unmask her cover.

A Most Damnable Invention: Dynamite, Nitrates, and the Making of the Modern World $6.99 Swedish chemist Alfred Nobel’s discovery of dynamite made possible the famous industrial megaprojects that transformed the countryside and defined the era, including the St. Gothard rail tunnel through the Alps, the clearing of New York harbor, the Panama Canal, and countless others. Dynamite also caused terrible injuries and great loss of life, and, in some cases, incalculable and irreparable environmental damage. Nobel was one of the richest men in a society rapidly transforming under the power of his invention, but with a troubled conscience, he left his estate to the establishment of the world-famous prizes that bear his name.As the use of explosives soared and growing populations consumed more food, nations scrambled for the scarce yet vital organic ingredient needed for both. The quest for nitrates takes us from the rural stables and privies of preindustrial Europe to the monopoly trading plantations in India and to the Atacama Desert in South America. Nitrates were as valuable in the nineteenth century as oil is in the twenty-first and were the cause of similar international jockeying and power politics.The “nitrogen problem” of creating inorganic nitrates was solved by an enigmatic German scientist named Fritz Haber. His breakthrough not only prolonged the First World War but became the foundation of the green revolution and the tripling of world population since then. Haber is also known as the “father of gas warfare” for his work on poison gas. When he was awarded a Nobel Prize for his work in chemistry, it sparked international outrage and condemnation.A Most Damnable Invention is a human tale of scientific obsession, shadowy immorality, and historical irony, and a testament to the capacity for human ingenuity during times of war.

A New Energy Frontier: The Bay of Bengal Region $25.33 New – The region comprising the countries around and in the proximity of the Bay of Bengal has remained relatively unexplored for energy. Following a few major discoveries of oil and natural gas, it is now becoming promising even as the energy requirements of a combined population exceeding 1.5 billion are growing exponentially. Here, the opportunities for regional cooperation are immense in a number of fields production of oil and gas, their transportation, trading in energy, and production fac

A New Energy Frontier: The Bay of Bengal Region $51.06 New – The region comprising the countries around and in the proximity of the Bay of Bengal has remained relatively unexplored for energy. Following a few major discoveries of oil and natural gas, it is now becoming promising even as the energy requirements of a combined population exceeding 1.5 billion are growing exponentially. Here, the opportunities for regional cooperation are immense in a number of fields production of oil and gas, their transportation, trading in energy, and production fac

A New Opportunity for Trading Oil $85.32 New

A New Opportunity for Trading Oil $127.95 New

A Swamp Full of Dollars: Pipelines and Paramilitaries at Nigeria’s Oil Frontier $24.95 The largest U.S. trading partner in sub-Saharan Africa, petroleum-rich Nigeria exports half its daily oil production to the United States. Like many African nations with natural resources coveted by the world’s superpowers, the country has been shaped by foreign investment and intervention, conflicts among hundreds of ethnic and religious groups, and greed. Polio has boomed along with petroleum, small villages face off with giant oil companies, and scooter drivers run their own ministates. The oil-rich Niger Delta region at the heart of it all is a trouble spot as hot as the local pepper soup.Blending vivid reportage, history, and investigative journalism, in A Swamp Full of Dollars journalist Michael Peel tells the story of this extraordinary country, which grows ever more wild and lawless by the day as its refined petroleum pumps through our cities. Through a host of colorful characters—from the Area Boy gangsters of Lagos to a corrupt state governor who stashed money in his London penthouse, from the militants in their swamp forest hideouts to oil company executives—Peel makes the connection between Western energy consumption and the breakdown of the Nigerian state, where the corruption of the haves is matched only by the determination and ingenuity of the have-nots. What has happened to Nigeria is a stark warning to the United States and other economic powers as they grow increasingly frantic in their search for new oil sources: unbridled plunder eventually rebounds on those who have done the taking.A Swamp Full of Dollars—shortlisted for the Guardian First Book Award—shows that if the Arab world is the precarious eastern battle line in an intensifying world war for crude, then Nigeria has become the tumultuous western front.