Energy Finance Exam 2

Master Limited Partnerships (MLPs) own and operate assets in the ______ sector

Energy

MLPs are structured as pass-through entities where_____

They do not pay C=corporate income tax, unit holders pay tax at their individual rates, are tax efficient

MLPs trade on organized exchanges as units. Unlike common stock, units have no ____

voting rights

Impurities besides water that need to be removed from "wet" gas are ____

Hydrogen sulfide, carbon dioxide, nitrogen

Most LNG is exported from where in the US

Gulf Coast region

Pipelines require a _____ system to operate efficiently and safely

Supervisory Control and Data

___ can be used to monitor pipelines and supply images for analysis

Drones

T/F, O&G pipelines consist of gathering systems, transmission lines, and contribution lines

False

Fractionation is separates light gases (methane) and Natural Gas liquids (NGLs). NGLs include

Ethane, propane, butane

Refining Margin = ____ less ____ less____

Refined Product Value, Crude cost, Refining cost

What are common events that shut down Gulf Coast refineries

Hurricanes

Refinery profit drivers for product value include what

Location, Seasonal Factors

T/F, the 3:2:1 crack spread is 2 barrels of gas + 1 barrel of heating oil - 3 crude barrels

True

The inbound/midstream of refining operations include what

Pipelines, Crude by rail, Crude by tanker

____ is an analog in refinery capital management

Design-Build-Own-Operate

Natural Gas or coal fuels fires ___ to generate steam that drive turbines

The ____ bond ensures that the contractor fulfills obligations once engaged

Performance

Which country has the largest reserves of Uranium

Kazakhstan

Since 2012, production costs of nuclear generated power has what

Declined

Nuclear electricity generation in the US has been constant around ____ terawatt-hours since 2000

800

2020 to 2021 was the first time nuclear capacity ____

Decreased

The country with the most offshore wind turbines under construction in 2023

China

T/F, outsourcing wind farm maintenance is not becoming more common

False

Installed wind capacity in Europe has been ___ from 2010 to 2023

Increasing

NERC has set strict norms for wind farms above 75MW for ____

Cybersecurity

The largest onshore wind power plant is in what state

Oklahoma

the cost of solar systems has ___ over the past 3 years

increased

____ is a company that offers roof top tile solar

Tesla

_____ inverters are for utility scale and commercial solar PV systems

Central

Th largest solar PV plant in the world is where

China

What is an arrangement under which a logistics provider commits to an agreed level of process performance for a fixed price

PBL