American Petroleum Institute
Definition - What does American Petroleum Institute mean?
The American Petroleum Institute is a national trade association that represents the interests of the US oil and natural gas industry. The API acts as advocates for the Petroleum industry in Congress and supports its interests in terms of public and media relations. They are involved in funding research and the gathering of statistical information related to industry operations. The API sets standards for the industry and operates a certification program that verifies environmental and safety compliance. The API also ensures that sufficient information and training is available in order to ensure compliance with legislation and industry standards.
Safeopedia explains American Petroleum Institute
The API represents players throughout the petroleum value chain from producers to refiners, suppliers and transport activities, as well as allied trade organizations who act as suppliers to the petroleum industry. Although the API is an American organization, it has achieved worldwide recognition for its work in the petroleum industry. The API represents the US oil and natural gas industry on a national level and strives to support the strength and viability of the industry across the board. API certification and training is viewed as the 'Gold Standard’ in the US oil and natural gas industry.