Essays on Crude Oil

The institutional affiliation

Chevron Corporation is an American publicly traded international energy corporation with a headquarters located in San Ramon, California. Chevron is considered to be one of the largest oil and gas conglomerates operating in about 180 countries all over the world (Chevron, 2015). In the year 2015, the Chevron’s revenues reached $129.92 billion, while the operating income was estimated at $158 million (Chevron, 2015). The company is divided into three technology companies, namely, Chevron Energy Technology, Chevron Technology Ventures, and Chevron Information Technology. The major technology centers are situated in Australia, the United Kingdom, and the United States. The ...

Introduction

The First Persian Gulf War was triggered in August 1990 when Iraq invaded neighbouring Kuwait for their oil reserves and ensuring their debts were cancelled. Iraq’s leader Saddam Hussein claimed that Kuwait were guilty of slant drilling and over production, of crude oil, which significantly hurt the Iraqi economy as they were reeling from the after-effects of a long war with Iran. Different historians present their own reasons for the start and the First Persian Gulf War and factors behind the involvement of the global coalition to defeat Iraq.

Findings

Geoff Simons mentions his book, Iraq: From Sumer to ...

Romania is a country that is located strategically in Southeastern Europe. According to the CIA world fact book, it has a GDP of $186.5 billion and an annual growth rate of 5% as per 2016. It has a Purchasing Power Parity (PPP) of $441 billion and GDP per Capita of $22,300. Romania has a population of around 19 million people. A comparison between the communism era which lasted up to 1989 and the post-communism era upon introduction of a free market economy indicates that there has been a higher growth rate regarding trade. For instance, its Foreign Direct ...

In the research, the broader question that will be the foundation of the study is “Why did the U.S. invade Iraq in 2003?” However, the narrower question that was derived from the broad topic concerns the role of geopolitics in the Iraq invasion. For this reason, the question that the research topic will seek to answer regards geopolitics in the U.S. and how this political concept contributed to the attack. The research question will first define geopolitics. Collin described geopolitics as the concepts of space, scale, network, territory, region, and place that influence international politics (17). Also, the author ...

Abstract

The separation processes in industry are a common practice especially in the developed countries as well as in the developing world. As a result, it is a good step to improve the separation techniques to ensure a better process for the production of the finished commodities. The classification of the distillation columns and the packed bed columns together with an analysis of their ability to perform efficiently in the industry is vital. Therefore, the paper entails an analysis of each group of distillation columns, taking into account their ability to carry out their duties, as well as the reason ...

Question #1

Hazards posed when one interacts with hazardous materials available at the refinery and related facilities, including the by-products, incident fire and release of acidic gas. Crude oil consists of petroleum hydrocarbons. When the products are discharged into the environment through leakage, spillage, or combustion; physical, chemical as well as biological activities occur. The aliphatic compounds in crude oil react with oxidizing compounds like nitric acid, oxygen or heat; they burn to generate carbon II Oxide and water. Sulfur in crude oil burns in air to produce sulfur dioxide. At about 400 – 500 ppm, exposure to sulfur oxide is considered ...

Current Event Article: Practical Application of the Concept of Elasticity

The applicability of different economics concepts occurs in the activities of business organizations, economies, and individuals’ decision-making. The concept of elasticity has wide application in the decision-making of an individual consumer, organizations, and the entire economy. This paper will analyze the elasticity article “Prospects for a U.S. Oil-export boom” published in the Wall Street Journal on 13th, January 2017, which relates to the feasibility of the United States to raise oil production (Strumpf, 2017). The article focuses on the capacity of the US to increase its oil production to improve its sale of crude oil in other countries (Strumpf, ...

1. Introduction Cutting cost has become a priority for many oil companies in recent years. The discussion covers the reason why oil companies are cutting cost and the means that management in oil companies are employing to cut cost. 2. Why oil companies are cutting cost? Oil companies are cutting cost in response to the radical drop in oil prices in the last two years. From 2011 to 2013, the price of crude oil was above $100 per barrel. In 2014, prices dropped to below $100 per barrel but above $90 per barrel. By 2015, crude oil price fell ...

Oil Prices Fluctuating In the Middle East

Introduction Oil being a commodity is subject to high levels of fluctuations as opposed to the stable investments like bonds and stocks. In particular, Organization of Petroleum Exporting Countries (OPEC) plays a significant role in influencing the prices of oil across the globe. As a result, OPEC controls around 40 percent of the global supply of oil by setting the production levels that caters for the world demand and it can determine the prices of gas and oil by reducing or raising the levels of production. At a particular point in time, OPEC vowed to maintain the prices above $ ...

ANALYSIS AND FINDINGS

3. Analysis and Findings 3.1. Introduction 3.2. Analytical Tool – Regression Multiple regressions are performed to assess the relationship of single independent variable i.e. crude oil prices (on Brent benchmarking) with all four dependent variables including Indian GDP growth, Indian Balance of Payments, Exchange rate between INR and USD, and the inflation rate in India. 3.3. Measures for Independent Variable – Crude Oil Price Crude oil is the most commonly traded commodity in the international market. Crude oil price stands independent variable in the underlying study, and same is considered for this purpose of analysis. The Periodic time frame for change ...

Saudi Arabia is the world's largest exporter or crude oil, with the country exporting 68% the product to the Asian market. The nation enjoys a market share of 40%, enabling the government to fund a significant proportion of the budget from oil revenue. Consequently, Saudi Arabia was able to accumulate vast financial reserves in the years preceding the current low oil-prices when the price per barrel stood at $120 (Baumeister, & Kilian, 2016). However, the state of affairs has changed in the last couple of years following the drastic decline in oil prices. As a result, the country has experienced ...

Supply Chain of Big Mac

We all might wonder someday that where does our Big Mac actually comes from? McDonald’s has an enormous supply chain, which fills the needs of more than 69 million customers every day by serving them in over 36,000 restaurants situated in 100 countries. On an average, McDonald’s produces 75 hamburgers every second. This reflects that its supply chain is super-efficient. From farm to our serving plates, the supply chain of Big Mac involves a number of processes, which can be illustrated as follows;

Production Processing Distribution Consumption Disposal

The procurement of ingredients used in the production of Big Mac are outsourced ...

Introduction

According to Alexander (2014), the oil sands of Alberta have around 1.7 to 2.7 trillion barrels of bitumen reserves. The recoverable oil resource in Canada is second only to that of the leading oil producer, Saudi Arabia. The vast oil reserves are capable of supplying Canada’s energy needs for over 500 years. Presently, nearly 40 percent of Canada’s oil production is generated from the oil sands (Alexander, 2014). They comprise mainly of bitumen mixed by sand and water. Alberta’s major oil sands are located in Cold Lake, Athabasca, and Peace River. Different deposits and areas have ...

Imperial Oil, founded in 1880 is a giant petroleum producing company, with its headquarters located in Calgary, Canada. It is the second largest integrated petroleum company in Canada and has registered a phenomenal growth since its inception. Its operations consist of exploring and producing oil, manufacturing and distributing petroleum products for energy sources, producing chemicals for industrial and domestic use through innovative and sustainable technology. ( Annual report, 2016) reports a cash generation of $22 bn from operations only during 2010-2015. Its performance can be evaluated from the growing dividends paid to its shareholders in last 21 consecutive years. Imperial ...

Literature Review

It is found that oil prices have undergone critical decline over past couple of years for several reasons at the bottom of this decline. However, reducing demand triggered by increased production of oil in USA, over production by OPEC, and shift towards renewable sources of energy is considered the most fundamental reason behind current downtrend of oil prices. It conforms to the simple theory of demand and supply according to which demand and price are in positive, while price and supply are in negative relationship with each other (Stafford, 2015; Scott, 2015; Goldenberg, 2016; Arnold, 2008; Hensher, Rose, & Greene, ...

____________ University

Introductory remarks

Alberta oil is one of the largest oil fields in the world. According to Simon Dyer, “The Canadian oil sands are the second largest proven oil reserve after Saudi Arabia” (Dyer, 2009). The commercial development of the Alberta oil sand had begun in the late 1960s. By the time World War I had arrived, and after the war was over, Canada was almost entirely dependent on oil from foreign countries. Canadians, after the war, began to wonder if the nation had any oil resources of their own. This interest led to the creation of the Alberta Research ...

Introductory remarks

With the depletion of crude oil deposits across the world becoming a reality with every new day, the world has been forced to start looking at alternative sources of oil. One of these unconventional sources of oil is the bitumen oil found in oil sands. Canadian oil sands have been identified as the second largest oil reserves in the world after those in Saudi Arabia. Most of these oil sands are found in the province of Alberta. These oil reserves are estimated to be an approximate 175 billion barrels of bitumen and sit across an area of 140,800 ...

Executive Summary

Fossil fuels are the predominant source of energy for industrial and transportation consumption. It is however expected that in a few more decades, fossil fuels will have lesser role to play than non-conventional oil and gas sources and renewable energy sources. This paper presents an overview of some of the socioeconomic factors that are driving the global oil industry and their implications for the UK industry. Four key influences are studied to understand the implications for the industry in terms of economic and environmental factors. The steady influence of OPEC is a significant factor in the pricing of crude ...

1. Introduction This section defines a systematic approach using tools and techniques of research to carry out a research project (Jha, 2008; Kothari, 2004; Newman & Benz, 1998). 2. Research Approach The research aims to base the underlying study on quantitative approach for data collection. Quantitative methods will be utilized for the collection of theoretical data? A statistical analysis (linear regression analysis) will be conducted to achieve this purpose with the help of the secondary quantitative data relating to chosen economic indicators in India. Past studies can also have some numeric information and inference as well. This way, the study ...

I have researched an article «$20 is the new $40», which discuss the changes in prices oo the oil market at the beginning of 2016 year. The energy, obtained from burning oil, is the main driving force of the economy today. Economic growth and oil prices move unidirectionally, and the slowdown in global economic growth is accompanied by a fall in world oil prices. Oil supply in the world market depends on the demand for oil products and, accordingly, the factors that form the demand. At the same time, the volume of supply (production) on oil is affected by ...

Introduction

The Middle East id the motherland of all the petroleum products in the world that comes in the form of crude oil undergoes fractional distillation and hence refined in various industries to get the petroleum products. Pollution involves the interference of either the soil, air, sound or even water. Some of the causes of pollution in the region are as discussed below. 1. Air Pollution The air is affected by the emission of the exhaust fumes from the industries, facilitating the drilling of oil. (Shuval and Hassan 14) Air pollution is also facilitated by the emergence of some of ...

Internal analysis of Enbridge Inc.

Introduction Enbridge Inc. a distribution and transportation of energy company operating in the United States and Canada. The company is divided into five segments to facilitate its operations and achieve its long-term corporate objectives. The sections include Liquids Pipelines; Gas Distribution; Sponsored Investments and Corporate and Gas Pipelines, Processing and Energy Services (Finance.yahoo.com, 2016). The company operates a common carrier through the Liquids Pipelines segment by contrasting natural gas liquids, refined products, and crude oil pipelines as well as terminals. The Gas Distribution Segment is a natural gas utility serving industrial, commercial and residential customers in Quebec, New York, ...

Abstract

Environmental pollution is among the hotly debated topics in the field of environmental studies. Contamination of this kind ranges from that of water, soil, and air. Industrialization and large organizations have been reported to be the primary sources of pollution across the world. Chevron, a leading multinational energy corporation, has in the recent past been accused and charged for heavy soil and water contamination through oil spills. Such environmental pollution has substantial consequences on the human health, safety, and well being. Van Duzer et al. (2015) assert that one of the most affected nations through the company’s activities ...

Letter of Transmittal

Richard Albert Sylvester Management Consultant Lamplighters Corporation Ottawa K I P 5B5 Phone: 613-563-1509 www.lamplightres.ca The Right Honorable Justin P.J. Trudeau

Office of the Prime Minister

80 Wellington Street

Ottawa, ON K1A 0A2

RE: Project Suitability Report on the Proposed Trans Mountain Expansion Pipeline Project Dear Right Honorable Prime Minister, It is with great pleasure and honor that I submit this report on the suitability of the proposed Trans Mountain Expansion pipeline project. The Trans Mountain Expansion pipeline project proposal by Kinder Morgan aims at increasing the current capacity of the existing Trans Mountain oil pipeline. Currently, the existing infrastructure has a capacity of 300,000 barrels per ...

Company Overview

Enbridge is primarily an energy delivering company, supplying energy across Canada and the U.S. It boasts of the biggest crude oil and liquids supply system worldwide. Other industry-related businesses of Enbridge include natural gas stocking, transmitting and midstream. It is also into generation of renewable and alternative energy, including solar, wind and geothermal energy (Enbridge, 2016). When stating its mission, Enbridge uses clear words, describing its core values of integrity, safety and respect. It lays stress on environment, health and safety, based on safety principles and life-saving norms by underlining these values. Informing about its 65 years old record ...

Are the GCC companies still financially and economically strong after the recent fall in oil prices?

GCC market and economy: The Gulf Co-operation Council companies are formed by countries like Kuwait, Bahrain, Qatar, Saudi Arabia and UAE. Since its inception in 1998, the growth rate of its GDP has increased. Similarly, the population in these countries also shows a steep increase. The main revenue of GCC countries was generated through the export of oil and gas. Prior to the discovery of shale and crude oil reserves in U.S, Canada, and Europe; GCC group of companies was the main provider of oil to markets in North America, Europe and Asia. GCC has amassed huge foreign currency ...

The welfare of a country and its position among other world nations is hugely determined by its economic policy. Saudi Arabia is one such country with a consistent and stable economy and is one of the most important international players. It is the largest oil exporter among the OPEC countries, its de facto leader, an influential player among the GCC countries and the most important partner of the USA in dealing with Middle East issues. In this essay, the economic policies and exchange rate policies of Saudi Arabia are discussed in detail. Also the foreign investments and operations of ...

1. Introduction The Organization of the Petroleum Exporting Countries – OPEC coordinates and unifies the policies among the oil exporting developing nations. The increase oil production has an impact on the supply and demand side and impacts the prices and incomes of the OPEC countries. The examination will answer the research question what are the effects of increased oil production in the OPEC countries with the focus on the Middle East member countries.

Problem

The Middle Eastern countries with the production of oil impact the international price of oil and also their incomes. The OPEC countries, which are among the biggest ...

Introduction

Over the last one year, the global oil price has declined rapidly by approximately 50 percent. The drop in the oil prices may have largely been as a result reduced global growth prospects. Analysts argue that the rise of the U.S dollar in relation to other currencies played a significant role in the oil prices decline (Energy Information Administration, 2014). The decrease in the global oil prices has led to a significant impact on the U.S economy. In essence, the price drop has reduced the cost of living while increasing the real consumers’ incomes. The real income gain has ...

Oil and natural gas are the two primary types of fossil fuels that the world relies on for energy and also for various other products. Crude oil and gas are mined beneath the earth’s surface where they formed a long time ago. The products origin can be traced back to the remains of animals and plants that existed millions of years ago as marine life. The living materials die and sink to the sea floor where they pile on top of each other. The successful conversion of the remains into oil or gas is only possible if the ...

Abstract / Executive Summary

Summary of Article The minister from the United Arab’s economy reported that it is anticipated that the GDP of UAE will mark Dhs 1.6 trillion in the current year growing over 3.5%. Sultan Saeed Al Mansouri commented in an interview to the WAM (news agency), elevation in the growth rate evidence that the region is capable of maintaining economic competence and has gained sufficient success with the help of diversification. He further clarified that industrial zone of the UAE is continuously advancing and is positioned presently between 10%-14%. Additionally, Sultan Saeed delivered his expectation for the investments ...

This paper will cover oil price dynamics for the period starting from 2005 until the present moment of time. Exact price dynamics will be considered as well as a variety of factors influencing the oil price through the above mentioned period of time. The chart showing the dynamics of crude oil barrel price since 2001 is presented in fig. 1. Figure 1. Dynamics of crude oil price per barrel for the period between January 1, 2001 and April 19, 2016 (Trading Economics, 2016). Before the period, which is the subject of this paper, the oil price had been nearly ...

Introduction

Concerns with avoiding the adverse consequences of Global Warming and the effects of Climate Change has increased significantly over the past decades (Deutch et al.). The leading economies such as the United States are still reluctant to adopt comprehensive climate change policies despite pledging to do so. Nor has there been an agreement with the emerging rapidly-growing economies such as India, South Korea, China, Indonesia, and Mexico on the mechanisms to adopt Greenhouse Gas (GHGs) emission constraints (US Energy Information Administration [EIA]). With Global emissions of GHGs projected to continue to increase, there is the added urgency to not ...

Energy is one of the most important components of our day to day activities. Gasoline, diesel, kerosene, propane and other products are extracted from fossil fuels through a number of systematic processes and are used to drive automobiles, aircrafts, ships and trains. Despite their importance, these fuels lead to the emission of greenhouse gases into the atmosphere and results in global warming, which has been on a steady rise for quite some time. A few Economic Crises have occurred in the recent past due to depletion of oil reserves. The latest brands of hybrid and electric cars are the ...

The key insight for the decrease of commodity prices for products such as crude oil is that such prices decreases occur with respect to economic fundamentals but not ceteris paribus. This paper explicitly explores the general causes and effects of price decreases for crude oil as well as highlighting the aspect of demand and supply behind this. The basic cause of price decreases boils down to the economies of demand and supply. Basically, the price of crude oil is determined by demand and supply curve as indicated below: When supply for oil increases, the supply curve shifts from left ...

South of the polar Northwest Territories’ (NT) barren tundra lies the province of Alberta. The Canadian boreal forest provides expansive acres of natural habitat landscape for an array of plant and animal species. Ecologically, the Albertan forests and bogs arrest vast quantities of carbon-based pollutants, and their extensive hydrological network filters and purify millions of gallons of water. The boreal is also home to Aboriginal Communities which depend directly on the forest resources for their livelihoods (Regional Aquatics Monitoring Program [RAMP]). Nevertheless, this immaculate natural paradise is central to one of the today’s most contentious issues about the ‘ ...

Hydraulic fracking allows for mining of crude oil in areas that other means of extraction such as typical fracking cannot work. Hydraulic fracking allows for extraction of crude oil in ranges that have for a long while been thought to be dried or did not hold any mineral value. When rural fields are declared to have minable crude oil, the economic value of such a land automatically goes up. Areas with oil mining going on attract miners, investors, transport companies and engineers among other people, hence raising the economic value of such areas (King, 2012). There are several towns ...

1.0 The Company and Its Products Royal Dutch Shell PLC (Shell) is a public limited company, founded in 1907 as the Royal Dutch/Shell Group and registered in England and Wales with headquarters in The Hague, the Netherlands (Shell, 2014a, p. 9). After it was renamed in 2005, Shell became the single parent company of two publicly-traded subsidiaries: the Royal Dutch Petroleum Company (RDPC) and The “Shell” Transport and Trading Company (TSTTC) (later renamed as The Shell Transport and Trading Company Limited). RDPC handles upstream and downstream production activities, while TSTTC handles transportation and trading. In the upstream segment, the ...

Introduction

Since the mid XX century, the oil industry occupies a leading position in the global energy sector. A prerequisite for the implementation of large-scale long-term investments in the oil industry under the condition of a favorable outlook for oil demand in the world market is the availability of relevant geological reserves of oil in a particular region and the world at large. OPEC-countries account for over 40% of world oil production. Especially, the Middle East, particularly the Gulf basin, where there are the largest oil fields in the world, is rich for oil reserves (OPEC, 2015). Oil is extracted ...

Sedimentary rocks are naturally occurring rocks with significant physical and chemical properties. They are of three types, namely clastic, chemical and organic. While clastic sedimentary rocks form as a result of consolidation of minerals or rock fragments, chemical sedimentary rocks form through the precipitation of minerals from solutions . On the other hand, organic sedimentary rocks form as a result of compression of plant and animal remains. Sedimentary rocks form near the surface of the earth and depend on the environment of their deposition and transporting agents. Some of the common examples of sedimentary rocks are limestone, conglomerate, sandstone, coal, ...

Evaluation Methods

The fluctuation in oil places has a direct impact on the economy of oil importing nations given that they highly rely on the imported crude oil to run most of their industries. To be specific, the change in oil prices directly affects the economic environment of India in more than many ways. Timilsina asserts that the techniques for evaluating the macroeconomic environment include examination of current account balance, evaluation of the fiscal deficit and oil subsidy, analysis of the rupee exchange rate and inflation rate analysis (2015).

Variables to be evaluated

India imports an estimate of 80 percent of its energy resources. It ...

Summary

Chesapeake Energy Corporation was incorporated in 1989 and trades at the New York Stock Exchange under the Ticker Symbol (CHK) (Bloomberg). The company operates in the oil and gas industry. The company share price has declined form a 52-week high of $16.98 to a 52-week low of $1.50. As at April 4th, the share closed at $3.86. Over the past 1 year investors have lost 74.46% of their wealth. The share performance is 75.40% lower than the market return (S&P Index). The share price is likely to experience further declines and therefore recommend investors to sell of the company ...

Introduction

Marine oil business involves transport of oil or using marine means, either oceanic or by sea for sale or purchase at their destination. Most of the marine vessels that transport oil move in large numbers called a fleet. Aristotle Onassis and Stavros Niarchos once owned the two largest fleets of oil tankers in private hands. The fleets transported over five billion full gallons of crude oil. Thereafter, both of them became almost immeasurably wealthy and powerful. Of course, they continued to reinvest and carried on with their brotherly rivalry. They raced to outdo each other both in real estate ...

Introduction

The nationwide pipeline system in the USA has been constructed to transport the natural gas, oil, and refined petroleum products. This constitutes about 71% of the refined products and oils are being transported with about 100% natural gas of the consumption in the USA. The three sectors that are involved in the transportation of these energy products are; operators of the gas transmission pipelines, operators of hazardous liquids in the pipeline and the distributors of gas utilities. An approximate of 299,000 miles and 171,000 miles are offshore gas transmission and liquid onshore pipelines respectively. This operates in ...

Introduction:

With the growing possibilities of work opportunities, employees have multiple jobs to choose from. One of the key influential factor to take up the decision of a job change is compensation. It motivates the employees to fulfil the expected roles and objectives assigned to them. Strategic compensation differs in such a manner that here the employee is not considered just as an overhead. The employee’s salary and related monetary benefits are directly related to the strategies that have been formulated to achieve the company’s crucial objectives that ensure the profitability and sustainability of the firm in the ...

Insecurity and Currency Devaluation in Africa: A Case Study of Nigeria

Insecurity and Currency Devaluation in Africa: A Case Study of Nigeria

Introduction

Geography and history have truly taken its toll on Africa. Africa, the cradle of civilization, continues to be an enigma to the rest of the world. The continent commonly referred to as the Dark Continent has suffered from gross prejudice, stereotype, discrimination, and neglect from the rest of the world. Most Europeans and Americans see Africans as inferior, living in the jungle (forest), uncivilized, primitive, violent cannibals and so forth. But obviously, recent occurrences in Africa have proved them true even though not in toto. The genocide and ...

(Caltex Brands 2016-2018)

Executive Summary

This report outlines a marketing plan for Chevron Singapore (Caltex brand). It has been observed that sales volume by Chevron Corporation has been declining over the past three years, and that is why this marketing plan was formulated to increase the sales volume, increase the Caltex brand awareness in those troubled markets and improve stakeholder and customer relationships between Chevron and the public. For a successful marketing plan, certain strategies which include PEST, SWOT, and Industry analysis were carried out. In PEST analysis, the factors arising from political, economic, social and Technological environments were analyzed. To ...

History of the UK Oil & Gas Industry

It was in the year 1975 that Hamilton Brothers, a small entrepreneurial entity of the United States, which was working in the Argyle field, succeeded in bringing British oil ashore for the first time, and this was almost immediately followed by the BP excavation that resulted in huge quantities of oil being discovered in the Forties field.

Progress made by the industry since the 1970s

Oil discovery in the North, grew leaps and bounds as several other companies from other nations like the EU, United States and many other domestic UK firms leased out many sectors of the North Sea for excavating oil. Slightly around the late ...

Abstract

The emerging power security issues appear to be severe for the United Kingdom. The public body of the United Kingdom apparently is engaged in leaving the gasoline provisions fulfilled through interferences of the marketplace in terms of the green rule and renewable assistances. The stated situation is solely meeting a trivial proportion of issues. The public authorities of the United Kingdom showed a potential aspiring thinking about the forthcoming periods of protected power. The government of the United Kingdom proposed growth of renewables, power effective infrastructure, and potential policy currents with an anticipation that they will definitely pacify the ...

Critically discuss the implications of recent trends and changes within the supply chain of the UK petroleum retail market.

Critically discuss the implications of recent trends and changes within the supply chain of the UK Petroleum retail market. Introduction The United Kingdom incorporates four separate legal systems within its entity that are Wales, England, Northern Ireland and Scotland . In order to maintain uniformity in laws pertaining to the ownership of natural fuel such as Petroleum, the 1937 Petroleum Act was passed, which established that all such resources fall under the control of the British Crown. The petroleum distribution system in the United Kingdom resembles the system that is prevalent in the United States of America, that is, a ...

According to EPA (2016), environmental management involves the development of systems aimed at reducing environmental impacts of various activities. In the Brundtland commission report (WCED), sustainable development has been described as development aimed at meeting the current needs of the present generation. However, as the current generation focuses on meeting their own needs, their activities should not compromise the capability of future generations to also meet their own needs. Available evidence suggests that the future generation would have challenges meeting their own needs if the current generation fails to adopt sustainable practices. The sustainable development incorporates the triple line: ...

Crude Oil Prices: Market Supply and Market Demand

Abstract The primary purpose of this paper is to understand how supply and demand factors contribute to a consistent decline in crude oil prices across the globe. Furthermore, the paper seeks to understand the impact resulting from the fall in the U.S and the global economy and implications of the same. In the introduction, the paper starts by acknowledging the importance of crude oil to the world economy and the fact that it is an ordinary commodity whose price is influenced by the market forces. Oil prices are renowned for their instability in the market, an aspect that is ...

The OPEC heavily relies on oil revenue to grow their economies. To ensure a high flow of revenue they formed a cartel to control their output so to sell crude oil at a relatively high price. However, the strength of the cartel has declined, the prices of oil have been declining, and the countries seem to lack a solution (Bowler, 1).

Reasons for Price Decline

The United States dollar has appreciated over the last few years. Currently, it is twelve years high against major currencies like the Euro. The appreciation has put markets under pressure because as the U.S dollar gets strong the ...

Intellectual property refers to the works or inventions that are as a result of creativity, including a manuscript or a design, to which one has exclusive rights or for which one may apply for a patent, trademark or copyright. If a person or organization registers their original works such as inventions, ideas, innovations, writings and artistic performances among many others, with the relevant government and they own the exclusive rights for a particular period of time, this is referred to as intellectual property.

Intellectual property has become a major issue in recent rounds of international trade negotiations because of a number of factors. One, the costs ...

ABSTRACT

The research argues that although a gas flaring stoppage is not successfully in-place in Nigeria, fitting the appropriate technology with complementary economic and institutional factors can lead to near-zero or zero gas flaring. Nigeria is a developing country with a unique culture of many tribes and one of the largest growing urban populations in the world. Infrastructural, political and economical challenges to meeting the goal are introduced. Reinjection of gas back into wells is not available as an option to gas flaring because a large region for gas production is wetlands (Buzcu-Guven et al. 2012). Wetlands ...

The British Petroleum Company; commonly referred to as BP constitutes one of the top five largest petroleum companies on a global scale. It was started in 1908 as the Anglo-Persian Oil Company. In 1947, it changed its name to Anglo-Iranian Oil Company then to British Petroleum Company in 1954 (Ferrier 1994). Before the First World War, the economy of this company was very poor as activities of exploring oil in the Persian Gulf were not only difficult but also extremely costly. For a significant period, the company risked absorption by larger companies that had stable establishments in the industry (Ferrier 1994).

...

Political Implications of Sino-Saudi Relations to the US and Regional Affairs

Abstract As the largest and most influential nations in the Middle East, Saudi Arabia has been considered a valuable asset to any country wishing to have influence in the tightly-knitted Middle East. Many nations throughout the years have tried to sway the Saudi government and monarchy into entering diplomatic and economic partnerships with them in order to gain access to the region’s oil reserves and establish their partnership but only a few have been successful. One of these successful nations is the People’s Republic of China, which has strong diplomatic, economic and social partnerships with Saudi. China has been ...

Visiting The Trans Alaska Oil Pipeline

The construction of Alaska pipeline was completed in the year 1977 by APSC (Alyeska Pipeline Service Co.) at an expenditure of about 8 billion USD within two years. This was the leading privately funded construction project effort within that error. The TAPS (Trans Alaska Pipeline System) was constructed as a way of transporting rudimentary oil from Prudhoe Bay oilfields situated in North Slope of Alaska to the northern most and marine ice-free port within Valdez, from where tankers were used to transport the crude oil to U.S refineries. At the peak of building the pipeline, the construction company as well ...

Enbridge oil pipeline is the world’s longest crude oil pipeline with a total length of 15,372 miles that runs from Alberta oil fields in Canada to New York in United States through Regina, Saskatchewan, Sarnia, Ontario, Toronto and Buffalo. Enbridge Inc. whose common shares trades under ENB symbol on both New York stock exchange and Toronto Stock Exchange own it.

Enbridge Company received its approval of operations from the Canadian government in April 1949, and they build the pipeline in 1950 and went to ship a total of 30.6 million barrels of crude oil in their first full year ...

The product that I have chosen is Oil. Oil is a natural product that is found in oil wells in large quantities. The nature of oil found in these wells is crude and it has to pass through several refining processes, before the final product is obtained. Crude oil is used to create Jet Fuels, Motor Lubes, Petrol, Diesel, and other important products that are used by both the household consumers, as well as the industrial consumers. According to Economicsonline (2014), the use of Oil by the industrial organizations dates back to 18th century.

Source: Infomine, 2014

The graph above shows the trend ...