Natural Gas Exploration Essay

720 words - 3 pages

1. Natural gas should be the product that BP should invest in. It is no longer a new source of energy as its publicity has been increasing as a possible best alternative to oil which still is by far a dominating resource.

Now, there is no doubt that the amount of oil available is decreasing and in fact using oil as heavily as it has been used is not welcomed, especially by individuals or groups who advocate countless number of anti-CO2 emission campaign.

Natural gas also emits CO2 just like oil because they are just the same in that both are fossil fuels, although the emission of CO2 by natural gas is said to be almost a half. Plus, if this is to be used for generating electricity, it ...view middle of the document...

So if this is successfully approved by the government and local communities where the plants will be located, BP will have enough support for the project.

* Providing natural gas domestically will help cut down the cost of transportation to much lower level, which can allow BP to inject more money into the other related areas in a pursuit of better operation. Also this will make the price of UK more stable than now when the price depends on the external factors (because now The UK imports natural gas by pipelines from Norway, Belgium and the Netherlands and Liquefied Natural Gas (LNG) by ship and their situations are variables affecting the price of natural gas.
(this part sounds more like what I am going to write for my economic justification)

Why UK?
* UK is home to BP, which means the network BP possess is already well established, which allows BP to do their project more easily than doing it outside UK in terms of financing, negotiating, etc.

* In the end...

Other Papers Like Natural Gas Exploration

Economics Of Global Shale Gas Development

1539 words - 7 pages resources are seeking to replicate the success of shale gas in the US. This short write-up provides: (a) Summary of the global shale gas resources (b) Estimated economics of shale gas development Some useful rules of thumb are provided that can be used to quickly assess the estimated profitability of shale gas development. Natural gas is produced from different types of gas accumulations. These accumulations are classified into

Fracking: Good Thing Essay

2218 words - 9 pages the rock at a high pressure to release gas (BBC, 2013). Fracking technology experiences long time of development. In 1947, Stanolind Oil conducted the first experimental fracturing to stimulate natural gas; in 1949 Halliburton conducted the first commercial fracturing to extract natural gas (Montgomery and Smith, 2010). Until 2003 fracking was used widely, energy companies actively expand natural gas exploration in Texas and Pennsylvania (Eecworld

Prospects of Shale Gas Development in India

3100 words - 13 pages one of deficit to one of surplus has gathered appreciative appraisals from the rest of the world and initiated talks about the prospect of harnessing shale gas in other countries, as US reached the lowest CO2 emission level in the last 20 years due to shift to natural gas. It has been referred to as “the biggest energy innovation of the decade”, in light of the growing need for suitable alternatives to conventional oil and gas with increasing

A Transco Case Study

1952 words - 8 pages undertaken. A ten-year, £1 billion programme converted every gas appliance in the UK to use natural gas and retired existing plants. By the end of the decade, gas usage had tripled. 1971-72 Money went metric and the UK gas industry was transformed from a local manufacturer of gas with a distribution network to a full-scale energy company with operations that extended from exploration to marketing. In 1972, a new Gas Act restructured the Gas

British Petroleum

903 words - 4 pages . The company's business consisted of three main segments: A) Exploration and production sector B) Refining and marketing sector C) Chemicals sector Exploration and production sector had the task of exploring, developing and producing crude oil and natural gas around the globe. Focusing on Amoco's proven developed reserves which were at the time 1,766 milion barrels of oifl and 13,904 milion cubic feet of natural gas. Refining and

Exploration and Production Software Market Trends and Forecast 2015 – 2023

679 words - 3 pages Exploration and production is upstream segment for oil and gas industry comprising of exploration stage which includes locating, testing and drilling for oil and gas. Exploration and production (E&P) software is an integrated solution dedicated to managing exploration to production. The user can interpret the seismic data which uses principles of seismology to estimate the properties of the Earth's subsurface from reflected seismic waves

Upstream Oil and Gas

1108 words - 5 pages The upstream petroleum (oil and gas) sector encompasses of exploration and appraisal, development and construction and production. For natural gas and liquefied natural gas (LNG), the definition of upstream includes processing and delivery to terminals or to the intakes of domestic gas transmission pipelines. If we analyze the upstream sector from the aspect of legal and regulatory aspect, the production of oil and gas in a country, brings

Philex Mining Corporation Profile

788 words - 4 pages in energy and hydrocarbon assets to Philex Petroleum, which currently holds 38.82 percent of FEP, a UK-based company listed at the Alternative Investment Market of the London Stock Exchange. FEP is an oil exploration company owning participation interests in several service contracts in the Philippines, principally Service Contract 72 (previously GSEC 101) covering the Sampaguita natural gas discovery in Northwest Palawan. Philex Petroleum


1214 words - 5 pages products. “Companies involved in the exploration and development of crude oil and natural gas have the option of choosing between two accounting approaches: the ‘successful efforts’ (SE) method and the ‘full cost’ (FC) method.” (Investopedia) The main issue which these techniques address is whether or not such outflows can be capitalized or need be treated as expenses on the income statement. As the FASB Accounting Standards Codification

Earning Management Study-Oil and Gas Industry

3951 words - 16 pages oil & gas industry: (1) Stone Energy Corp from crude oil and natural gas production companies (SIC code 1311), Royal Dutch Petroleum from petroleum refining firms (SIC code 2911) and El Paso Corp from natural gas transmission (SIC code 4922). Crude oil and natural gas production firms specialize in exploration and production of crude oil and natural gas. They are mostly small independent firms and they sell their output on to the larger oil

Apach Valuation

1775 words - 8 pages formed in 1954, is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. Apache currently have exploration and production interests in six countries: the U.S., Canada, Egypt, Australia, the U.K. North Sea (North Sea), and Argentina. The company's proved reserves at year-end 2012 totaled 2.85 billion barrels of oil equivalent, roughly half oil and half natural gas. Apache have

Related Essays

Economics In Action High Gas Price

643 words - 3 pages economy and how it affects consumers? Economics in Action High Gas Prices The weekend of (2005) gas prices reached nearly $6 in some parts of the country. Costumers limited their purchases rather than filling up their gas tanks. The issue at hand is higher gas prices and consumers not willing to pay for the gas, driving prices even higher. Then if the country has a natural disaster that temporarily shuts down oil wells prices will then go up

Natural Gas Clean Up From Wellhead To Uk Gas Grid

3197 words - 13 pages Natural gas clean-up from wellhead to UK gas grid Tom Andrew Word Count: 2467 Abstract The report examines the current state and future of natural gas clean-up in the UK. The sources of natural gas in the UK are currently undergoing a large shift, moving from self-produced gas from dwindling North Sea reserves to pipeline imports from Europe and liquefied natural gas imports from overseas. There is also potential for the UK to start extracting

Quality Issue Proposal Essay

655 words - 3 pages products and systems, Polymers, Purified terephthalic acid (PTA), Paraxylene (PX), Acetic acid, Ethylene, Propylene, Solvents and industrial chemicals, Downstream derivative products, Generation of power, Operation of fuel stations, Oil and gas exploration and production, and Oil and natural gas transportation, distribution, and marketing e. Quality Management Processes i. Finding Gas and Oil 1. Use refined technology and new scientific techniques

Gazprom Natural Gas Crisis Essay

4770 words - 20 pages Gazprom to ramp up the price of non-household gas sold in Russia to match European prices by January 2011. This would increase investment in exploration and production, improve energy efficiency and bring about more price predictability (Tsygankova, 2009). Crisis impact on Heren NBP Index The Heren NBP (National Balancing Point) index is a weighted average price for natural gas traded during a specific period. It is a periodic market derived