In the oil and natural gas industry, there is a group of companies called the National Oil Companies (NOCs). Unlike the private oil companies like Exxon(XOM), BP(BP), etc. the NOCs are majority or fully owned by the government of the country where they are located. For example, Pemex, the largest oil company of Mexico is …
Crude oil prices have been rising for a few months now and US crude price per barrel crossed $80.0 yesterday for the first time since 2014. Oil prices have soared by 125% since the end of last October. Higher crude oil prices lead to higher gas prices which then causes sticker shock to Americans. Gas …
Have you ever wondered why crude oil is called as sweet crude, light crude, sour crude, light sweet crude, etc. ? Crude oil is classified based on two factors: API Gravity and Sweetness. 1.API Gravity: 1.API Gravity is oil’s density to water and ranges from “light” to “heavy”. The market’s preferred type is the “light” …
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National Oil Companies (NOCs) are owned fully or partially by the state. Unlike the major supermajors like Exxon Mobile(XOM), BP(BP), Total(TOT), etc. the NOCs are controlled by the state though they may publicly listed as well. Some of the large oil companies in the world such as China Petroleum & Chemical Corp (SNP) and PetroChina (PTR) …
Continue reading ‘What Are National Oil Companies? : Chart’ »
