The book covers many significant changes impacting the petroleum industry including Current industry practice issues from a proprietary survey conducted by the Institute of Petroleum Accounting. Practical guidance on new standards of revenue recognition, joint arrangements, consolidated financial statements, and disclosure of interests in other entities which are of critical importance to those involved or interested in the petroleum industry. New chapters covering midstream operations, master limited partnerships, and SEC considerations. The updated book will also address numerous operational issues that continue to evolve with the demand for capital, inherent industry risks, and the impacts of product price fluctuation.
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