The end of the life of the ﬁeld occurs when it is no longer economic for the operator to continue production, and consequently the wells will be plugged and abandoned
API stands for the American Petroleum Institute, which is the major United States trade association for the oil and natural gas industry.
The API 2 price assessment is the benchmark price reference for coal imported to northwest Europe. It is calculated as an average of the Argus cif ARA price assessment and the IHS McCloskey NW Europe Steam Coal marker.
Heavy oil is a form of unconventional oil that is thick and highly viscous, and therefore does not flow to production wells under normal reservoir conditions.
Its a measure of the sophistication of an oil refinery, where more complex refineries are able to produce lighter, more heavily refined and valuable products from a barrel of oil.