What does American Petroleum Institute - API mean?
The American Petroleum Institute is a trade association of America’s oil and natural gas industry. It has 600 members from different segments of the industry such as oil & gas explorers, producers, refiners, drillers, suppliers, and service providers.
Futures Knowledge Explains American Petroleum Institute - API
American Petroleum Institute (API) is a leading oil and gas industry trade association in the US. The Institute represents the industry’s collective opinion to the regulatory and other agencies.
API has framed industry standards for equipment, materials and operating practices. API maintains more than 500 standards and recommended practices. API standards are recognized and adopted by oil companies around the world. The institute also compiles and publishes petroleum industry statistics. API organizes seminars, workshops, conferences and symposia periodically.