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Oil and gas deck definition Form: What You Should Know

The CAGE — Cargoes of Unregulated Exposed Petroleum Products — (US) — NRC (2001) The CAGE is a classification system for crude oil and petroleum products that is based upon three main factors: the rate, which is based on the quantity of oil delivered, as determined by the CNG Pipeline Association; the amount of crude oil available for transportation, in accordance with the CGI and the rate of increase of pipeline capacities; and the method of handling crude oil in the transportation, storage and disposal of CNG PIPE.  Crude oil inventory at the refinery is calculated based on the CAGE, the volume of crude oil which is available for delivery by pipeline, the total crude oil stored at the refinery, the available capacity for production in the refinery, the CNG Pipeline Association's (CNA's) estimates of CNG pipeline deliveries as a result of the CPU, the refinery's utilization of its capacity in oil extraction and transportation, and the price that the market has for crude oil. All production of crude oil, except that from the CNG Pipeline, is excluded from the CAGE. The CAGE includes crude oil produced from all sources to all refineries. Because the amount of crude oil imported depends on the level of demand for crude oil (e.g., a rise in supply has a similar impact at oil producing regions as it does for regions that are receiving more crude oil), the CAGE also has an important impact on crude oil inventory levels at the refinery that is not reflected in the number of barrels of crude oil produced or stored in the refinery.  The Crude Oil Inventory (CII) is a measure of the volume that is economically available for import and that is being shipped internationally. A CII value greater than 0.90, indicating a surplus in oil stocks internationally, is generally indicative of a period of rising crude oil prices. Higher CII values indicate a period of declining prices. The CII reflects the inventory levels recorded for crude oil and natural gas in the EIA's National Energy Information System (NEWS) and the Petroleum Supply Monthly (PSM, see Table 16 of Petroleum Status) and is updated monthly when new estimates are released. The CII was last updated by the CNA on December 2, 2013. The inventory statistics are reported by refining sector for each quarter and include shipments of crude oil and natural gas, as well as transportation, storage and disposal.

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Welcome to another new video. Let us talk about FPSOs and why they are the future for the offshore oil and gas industry. In this short video, I will explain what FPSO actually means and outline the advantages they have compared to an offshore platform. So, with no further ado, let us get right into it. First of all, what does FPSO actually stand for? The letters FPSO stand for floating production storage and offloading vessel. Sometimes they are newly built, and sometimes a converted ship, mostly an oil tanker. It is a floating unit with crude oil and natural gas, one from the sea bottom on deck off the ship. Our first form of oil refinery takes place after having separated oil, water, and gas. The storage takes place in the vessel's storage hole before offloading to other transportation ships, so named shuttle tankers or through subsea pipelines. An FPSO is anchored to the sea bottom to fix it on its chosen location in order to be resistant to weather, wind, sea currents, and heavy conditions. One can choose to apply a single mooring, through which technique the FPSO can rotate freely. So, when exactly do we use an FPSO, and what are the advantages? An FPSO is highly suitable for deep water and ultra-deepwater fields. Now, an FPSO is most of the time connected to several subsea oil production wells and obtains the oil through infield pipelines via DS pipelines. The oil is transferred to the storage compartment on the vessel. Now you understand what FPSO means and how it functions. Let us move on to the next step, where I will now explain why FPSOs are the future of oil and gas by naming you several advantages. A floating production storage and offloading vessel is a type of floating tank system...