Institute Of Petroleum - IP

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DEFINITION of 'Institute Of Petroleum - IP'

The Institute of Petroleum (IP), based in the United Kingdom, was a professional organization dedicated to those working in and studying the oil and gas industry. In 2003 the IP merged with the Institute of Energy to form the Energy Institute. The focus of the Energy Institute includes oil and gas, as well as nuclear and alternative forms of energy.

BREAKING DOWN 'Institute Of Petroleum - IP'

The formation of the Energy Institute created the leading chartered membership body in the world for those people in the energy field. The Energy Institute is based in London, England, and as of 2010 has over 14,000 members in over 100 countries.

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RELATED FAQS
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    Domestic energy investors should track the reserve inventory of crude oil for the United States, which is released in a weekly ... Read Full Answer >>
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    Oil and gas are two expansive and highly diverse product lines, with active competition domestically and internationally. ... Read Full Answer >>
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    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 >>
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    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 >>
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    Average costs vary widely between different types of oil rigs, starting at around $20 million and ranging as high as close ... Read Full Answer >>
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