Prelude Nobody has seen how the hell looks like, but there are some places on mother earth that are little scary, places that feel sinister, and then there are places that are spine-chilling, downright hellish. Around four decades ago, one unfortunate incident or mishap took place that gave birth to one such a hellish place. […]
Introduction: The Deepwater Horizon oil spill (also referred to as the BP oil spill, the BP oil disaster, the Gulf of Mexico oil spill, and the Macondo blowout) began on April 20, 2010, in the Gulf of Mexico, on the BP-operated Macondo Prospect. It is considered the largest accidental marine oil spill in the history of the petroleum industry, an estimated 8% to 31% […]
Baba Gurgur is an oil and gas field, located in the city of Kirkuk in Northern Iraq. It was entitled to the world’s largest oil field till the discovery of Ghawar in Saudi Arabia. As per reports, the field has been burning for over 4000 years now. History: Baba Gurgur field was first discovered by […]
Oligopolistic Nature of Oil We all always have, knowingly or unknowingly, discussed amongst ourselves various types of markets. We often use these terms very loosely. Before we move to understand oligopolistic nature of oil. Let’s understand some basics. To start with, there are three forms of market structure. Monopoly – This can be defined in […]
Introduction According to BP statistical review of energy 2015, India is the fourth largest consumer of oil and gas. Therefore India is considered to be one of the major countries which determines the economic performance of the oil and gas industry. India is also an attractive Exploration and Production (E&P) location with considerable yet-to-find reserve […]
‘The oil business was more like an epic card game, in which the excitement was worth more than great stacks of chips.’ -William C. Mellon According to EIA data, Fossil fuel will contribute to 79% of world energy mix in 2035. So, having control over the lifeline of the world is what many countries are […]
Kedar Karande kedar.karande.kk@outlook.com Narendra Salunke nsalunke59@gmail.com Sakshi Tathed sakshitathed96@gmail.com
The plunge in oil prices, which in mid-January were trading beneath $50 a barrel, or 60% lower than their peak in 2014, has trembled the oil and gas industry which has in turn devastated upstream investment plans. Oil prices fell steeply in the second half of 2014, bringing to an end a nearly four year […]