FIN 4003 QUIZ 1 WITH COMPLETE SOLUTIONS
What are hydrocarbons?
Group of answer choicesAn organic compound consisting of carbon and nitrogen.Any
organic compound consisting only of carbon and hydrogen.Any organic compound.An
organic compound consisiting of carbon, hydrogen, and oxygen. - ANSWER Any organic
compound consisting only of carbon and hydrogen.
What are the 3 forms of fossil fuels?
Group of answer choicescoal, natural gas, and gasolineCoal, natural gas, and
bitumens.Coal, peat, and petroleum.Coal, natural gas, and petroleum.Tyrannosaurus
Rex, Ankylosaurus, and Velociraptor. - ANSWER Coal, natural gas, and petroleum.
What are the two leading global benchmark crude oils, including the location of the
crude oil.
Group of answer choicesWest Texas Intermediate at Cushing, OK and Saudi Light
(Saudi Arabia)West Texas Intermediate at Cushing, OK and Brent in the North Sea
(UK)West Texas Intermediate at Henry Hub, LA and Brent in the North Sea (UK)WTI at
Cushing, OK and Brent (Saudi Arabia) - ANSWER West Texas Intermediate at Cushing,
OK and Brent in the North Sea (UK)
What are the 3 sectors of the Oil and Natural Gas industry? In other words, what are the
sectors of the energy value chain.
Group of answer choicesUpstream, downstream, up a stream without a paddleRefining,
pipeline, and compressionExploration, production, and marketingUpstream, midstream,
and downstream - ANSWER Upstream, midstream, and downstream
What is the major component of natural gas?
Group of answer choicesPropaneEthaneMethaneI don't know! Don't choose this
one!Emissions by people - ANSWER Methane
What is one of the most used indicator of industrial activity in the upstream (which also
impacts the oilfield and equipment sector) part of the oil and gas industry?
, Group of answer choicesrig countrefining capacitystorageseismic surveysproduction
trees - ANSWER rig count
Which of the following is a light sweet crude oil?
Group of answer choicesAPI of 30 and 1.5% sulfurAPI of 40 and 1.1% sulfurAPI of 110
and 4% sulfurAPI of 20 and 1.5% sulfurAPI of 30 and 0.5% sulfur - ANSWER API of 30 and
0.5% sulfur
In 1985/86, Saudi Arabia's jettisoning of the swing producer role and adoption of
netback pricing triggered _____ in oil prices.
Group of answer choicesno changea small increasea sharp decreasea sharp increase -
ANSWER a sharp decrease
Sweet crude has less than 1% sulfur content and sour crudes have greater than 1%
sulfur. This statement is:
Group of answer choicesTrueFalse - ANSWER True
Who is the world's largest natural gas producer?
Group of answer choicesIraqChinaSaudi ArabiaUnited StatesKuwait - ANSWER United
States
The US can now export crude oil as of January 2016, the first time in the last 40 years.
This statement is:
Group of answer choicesFalseTrue - ANSWER True
The above hydrocarbon is known as:
propane
methane
ethane
butane
What are hydrocarbons?
Group of answer choicesAn organic compound consisting of carbon and nitrogen.Any
organic compound consisting only of carbon and hydrogen.Any organic compound.An
organic compound consisiting of carbon, hydrogen, and oxygen. - ANSWER Any organic
compound consisting only of carbon and hydrogen.
What are the 3 forms of fossil fuels?
Group of answer choicescoal, natural gas, and gasolineCoal, natural gas, and
bitumens.Coal, peat, and petroleum.Coal, natural gas, and petroleum.Tyrannosaurus
Rex, Ankylosaurus, and Velociraptor. - ANSWER Coal, natural gas, and petroleum.
What are the two leading global benchmark crude oils, including the location of the
crude oil.
Group of answer choicesWest Texas Intermediate at Cushing, OK and Saudi Light
(Saudi Arabia)West Texas Intermediate at Cushing, OK and Brent in the North Sea
(UK)West Texas Intermediate at Henry Hub, LA and Brent in the North Sea (UK)WTI at
Cushing, OK and Brent (Saudi Arabia) - ANSWER West Texas Intermediate at Cushing,
OK and Brent in the North Sea (UK)
What are the 3 sectors of the Oil and Natural Gas industry? In other words, what are the
sectors of the energy value chain.
Group of answer choicesUpstream, downstream, up a stream without a paddleRefining,
pipeline, and compressionExploration, production, and marketingUpstream, midstream,
and downstream - ANSWER Upstream, midstream, and downstream
What is the major component of natural gas?
Group of answer choicesPropaneEthaneMethaneI don't know! Don't choose this
one!Emissions by people - ANSWER Methane
What is one of the most used indicator of industrial activity in the upstream (which also
impacts the oilfield and equipment sector) part of the oil and gas industry?
, Group of answer choicesrig countrefining capacitystorageseismic surveysproduction
trees - ANSWER rig count
Which of the following is a light sweet crude oil?
Group of answer choicesAPI of 30 and 1.5% sulfurAPI of 40 and 1.1% sulfurAPI of 110
and 4% sulfurAPI of 20 and 1.5% sulfurAPI of 30 and 0.5% sulfur - ANSWER API of 30 and
0.5% sulfur
In 1985/86, Saudi Arabia's jettisoning of the swing producer role and adoption of
netback pricing triggered _____ in oil prices.
Group of answer choicesno changea small increasea sharp decreasea sharp increase -
ANSWER a sharp decrease
Sweet crude has less than 1% sulfur content and sour crudes have greater than 1%
sulfur. This statement is:
Group of answer choicesTrueFalse - ANSWER True
Who is the world's largest natural gas producer?
Group of answer choicesIraqChinaSaudi ArabiaUnited StatesKuwait - ANSWER United
States
The US can now export crude oil as of January 2016, the first time in the last 40 years.
This statement is:
Group of answer choicesFalseTrue - ANSWER True
The above hydrocarbon is known as:
propane
methane
ethane
butane
