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Oil and Gas Industry Operation and Markets

Autor:   •  May 8, 2017  •  Case Study  •  9,518 Words (39 Pages)  •  388 Views

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Oil and Gas industry operation and markets

1. And this course is about one of the largest and most economically important industries in the world, the oil and gas industry. The scope of the oil and gas industry is huge. It not only includes businesses that explore for, produce, refine, transport, and sell oil and gas, but also a multitude of service companies that support these activities and transactions

2. The economic importance of the oil and gas industry is even more vast than its scope. Changes in the price of natural gas, crude oil, and petroleum products affect not only fuel prices, but electricity prices, food prices, prices of all sorts of manufactured goods. And thus job markets, international balances of trade, and nation's gross domestic products. 

3. I hope you'll join me in learning about this industry which is so vital to the operation of modern society. You need to know more about the oil and gas industry if you are seeking a job, or have a job, in the energy industry, or a decision maker whose business or policy decisions are affected by the industry or simply want to be an informed citizen. You also need to know more about the oil and gas industry if you work in national security, in financial markets, or in international development and relations. 

4. Finally, if you study economics, business, geography, public policy, environmental sciences, or one of many more disciplines that pertain to human activities, this course is also of value. The course will explore the two major components of the oil and gas industry. Operations and markets. In the operations module, you will learn about the core activities that the industry executes to bring natural gas and petroleum products to market. We will look at the the exploration and production of oil and gas, the processing and refining of the oil and gas into useable fuels and other valuable commodities, and finally the transport of oil, gas and petroleum products from wells, to refineries, to retail outlets. 

5. In the second module, the course shifts to the markets that drive oil and gas industry operations. You will learn about the various costs of the core oil and gas industry activities, the factors that determine the prices that oil, gas and petroleum products sell for, and the effect that the amount of oil and gas remaining in the ground has on the future viability of individual companies to the industry as a whole. So that's the course in a nutshell. Throughout the course, your knowledge will be tested, but you will also have the opportunity to contribute to one or more research projects focusing on industry activities, oil and gas prices, and worldwide markets. We have an international audience and experts in many different fields. So please take the opportunity to learn from each other. Let's get started.

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