Global Oil and Gas Industry Essay Example | Topics and Well Written Essays - 1500 words

Global Oil and Gas Industry - turn up ExampleThis study analyzes the political and economic climate and how the oil and triggerman stakeholders position their oil geographic expedition ventures with national and international policies.Oil exploration begins with oil platforms located on the continental shelf. The platform is addicted to the ocean floor, consisting of a floating, artificial island. Improved technology makes possible and more profitable oil boring and production in deeper waters. A floating production, storage, and offloading (FPSO) system is used by the offshore oil and torpedo industry and designed to take all of the oil or spatter produced from a nearby platform, do work it, and store it until the oil or gas can be offloaded onto waiting tankers, or sent through and through a pipeline. (Wikipedia) The worlds top three oil reserves are in the Middle East that is to say Saudi Arabia, Iran, and Iraq. There are two major sectors within the oil industry, upstream and downstream. Upstream is the abut of extracting the oil and refining it. Downstream is the commercial side of the business such as delivery to manufacturers and gas stations. (Investopedia). Oil investors talk of an average seven-year period for exploration when commercial quantity reserves should have been accomplished and from 25 to 35 years of production and manufacturing.A most important natural resource, oil fuels the world economies. intimately every human activity in the 21st century is related to crude oil, from illumination to transport, childs play conditioning, heating and sewage system to use of household products such as petroleum jelly and trunk creams. The US which is the worlds richest economy is such because it has control over cheap oil. Recently, the Latin US, Russia, and Asia are experiencing economic harvest-home and consuming oil at an increased level. People in these countries are entering the world of consumerism, buying appliances and gadgets that are hungry for electricity wanting to travel by car, ships, and jets that require oil to function. Oil is the lifeblood of capitalism. create countries need all the oil they can get to run factories, machineries, equipment and power plants. (USOilandGas.net) This is the reason the oil and gas sector continues to attract investors from all over the world.The major players in the oil and gas sector later the war in Iraq, the US, foreign oil companies and the International Monetary Fund rushed the Iraqi governing to pass the Iraq fair play that opened the countrys national oil system to foreign control. The new oil law gives foreign corporations access to