American Petroleum Institute


DEFINITION of 'American Petroleum Institute'

A leading oil and gas industry trade association. The American Petroleum Institute is involved with public policy and industry lobbying efforts, environment, health and safety regulations, training and certification programs, and establishing a variety of industry standards.

BREAKING DOWN 'American Petroleum Institute'

The American Petroleum Institute has approximately 400 corporate members which represent a wide range of subdivisions within the oil and gas industry. The institute also compiles a variety of industry statistics and distributes more than 200,000 copies of its publications relevant to operators in the oil and gas industry each year.

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  1. How much oil must be produced to maintain inventory levels in the United States?

    Domestic energy investors should track the reserve inventory of crude oil for the United States, which is released in a weekly ... Read Full Answer >>
  2. To what extent is the oil and gas sector dominated by a few major companies?

    Oil and gas are two expansive and highly diverse product lines, with active competition domestically and internationally. ... Read Full Answer >>
  3. Do all oil companies received the quoted price of West Texas Intermediate for their ...

    The quoted, or spot, price of West Texas Intermediate, or WTI, crude oil is just one of several benchmark oil prices. The ... Read Full Answer >>
  4. How do the costs of oil sands producers compare to traditional drillers?

    The oil sands of Canada are some of the most expensive crude oil assets in the world to produce. Each asset type, such as ... Read Full Answer >>
  5. How do the average costs compare for the different types of oil drilling rigs?

    Average costs vary widely between different types of oil rigs, starting at around $20 million and ranging as high as close ... Read Full Answer >>
  6. How long does it take an oil and gas producer to go from drilling to production?

    Depending on the depth of drilling required and the type of drilling method used, a standard oil well can commonly advance ... Read Full Answer >>

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