The book addresses optimization in the petroleum industry from a practical, large-scale-application-oriented point of view. The models and techniques presented help to optimize the limited resources in the industry in order to maximize economic benefits, ensure operational safety, and reduce environmental impact. The book discusses several important real-life applications of optimization in the petroleum industry, ranging from the scheduling of personnel time to the blending of gasoline. It covers a wide spectrum of relevant activities, including drilling, producing, maintenance, and distribution. The text begins with an introductory overview of the petroleum industry and then of optimization models and techniques. The main body of the book details a variety of applications of optimization models and techniques within the petroleum industry.