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A piping and instrumentation diagram (P&ID) is defined as follows: A diagram which shows the interconnection of process equipment and the instrumentation used to control the process. In the process industry, a standard set of symbols is used to prepare drawings of processes. The instrument symbols used in these drawings are generally based on ...
Petroleum refinery in Anacortes, Washington, United States. Petroleum refining processes are the chemical engineering processes and other facilities used in petroleum refineries (also referred to as oil refineries) to transform crude oil into useful products such as liquefied petroleum gas (LPG), gasoline or petrol, kerosene, jet fuel, diesel oil and fuel oils.
Diagram of the pressure instrumentation on a process vessel. Oil, gas and petrochemical processes are undertaken at specific operating pressures. Pressure is measured by pressure sensors (PE) which send pressure (PT) signals to pressure controllers (PIC). Pressure vessels and tanks are fitted with local pressure indicators (PI).
graph with an example of steps in a failure mode and effects analysis. Failure mode and effects analysis (FMEA; often written with "failure modes" in plural) is the process of reviewing as many components, assemblies, and subsystems as possible to identify potential failure modes in a system and their causes and effects.
Scalping is the shortest time frame in trading and it exploits small changes in currency prices. [3] Scalpers attempt to act like traditional market makers or specialists. To make the spread means to buy at the Bid price and sell at the Ask price, in order to gain the bid/ask difference. This procedure allows for profit even when the bid and ...
Separator (oil production) The term separator in oilfield terminology designates a pressure vessel used for separating well fluids produced from oil and gas wells into gaseous and liquid components. A separator for petroleum production is a large vessel designed to separate production fluids into their constituent components of oil, gas and water.
Trading strategy. In finance, a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The difference between short trading and long-term investing is in the opposite approach and principles. Going short trading would mean to research and pick stocks for future fast trading activity ...
An oil water separation hydrocyclone is a device designed to separate oil from water by the use of a strong vortex. These separators are passive (no moving parts) and resemble long tapered pipes. They typically contain an inlet section, long tapered section and a long outlet section. In operation the strong vortex is created when the oily water ...