Institute Of Petroleum - IP


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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  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. 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 >>
  4. 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 >>
  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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