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.