Calculating petroleum quantities in the 21st century
Over the past 100 years, a number of technological advances and process improvements have dramatically changed how the oil and gas industry finds, produces and refines petroleum. The industry has made vast improvements in physical property databases, calculation procedures, and the determination of density and petroleum quantities by incorporating advances in modern processing technologies and updating measurement standards. This article discusses how the oil and gas industry is reducing measurement uncertainty through the development of new physical property standards. It also examines the history and differences between various 1980 American Petroleum Institute (API) standards and their
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