Mw Petroleum Corporation

Mw Petroleum Corporation
For the exclusive use of T. GU
Harvard Business School
9 – 2 9 5 –029
Rev. November 21, 1994
MW Petroleum Corporation (A)
In late 1990, executives, engineers, and financial advisors working for Amoco Corporation and Apache Corporation began serious discussions about
the sale to Apache of MW Petroleum
Corporation, a wholly–owned subsidiary of Amoco Production Company. Amoco had transferred to
MW certain of its own assets that it regarded as non–strategic. MW 's size, location, and operations were all very attractive to Apache, which had grown
nearly 30% per year since the mid–1980s, largely through acquisitions. The transaction being discussed with Amoco would be Apache 's largest to
date. It would more than double the size ... Show more content on Helpwriting.net ...
Since 1983,
Amoco itself had sold more than $750 million worth of small properties which, it felt, could be more economically operated by smaller, low–overhead
independent companies.
In 1988, Amoco conducted an extensive review of its cost structure and profitability. The study concluded that direct operating costs were
well–controlled and offered little opportunity for major savings. However, it also showed that in the United States 85% of the company 's gross
margin was provided by just 11% of its 1150 producing fields and that many of the remaining fields had disproportionately high overhead and repair
expenses. Based on these and other findings,
Amoco initiated a major restructuring to better focus on its most attractive properties and opportunities. The first step was the sale, in 1989, of more
than 400 fields in the "tail" of the margin curve, comprising approximately one third of the field portfolio and 12% of leases. These properties were
among Amoco 's least profitable, contributing only 3% of the company 's direct margin. Next, in January 1990, as part of the overall restructuring of
Amoco Production Company,
Amoco 's board of directors approved a plan to divest up to $1.2 billion worth of additional properties from the middle section of the margin curve.
Morgan Stanley was engaged to advise and assist in this process, which began

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Energy Consumption In Iraq
Iraq emerged as the second largest producer of crude oil within the Organization of the Petroleum Exporting Countries (OPEC)(Saddam and abu
Mansor, 2015). At the beginning of 2015, Iraq reportedly held 144 billion crude oil reserve barrels, representing about 18% of the confirmed
reserves within the Middle East and about 9% of reserves worldwide ("Worldwide look at Reserves and Production," 2015). Despite drawing huge
benefits from the valuable conventional source of energy, Iraqi households experience electricity shortage particularly during summer. In 2012,
electricity supply in Iraq was about 66 billion kilo watt hours (kWh). It is expected that the peak in electricity demand will hit 50,000 to 60,000 MW
by 2030 (Istepanian, 2014).... Show more content on Helpwriting.net ...
The commonly employed insulation materials are fiberglass, cotton, and foams. In this standpoint, TES systems are attractive due to their energy
economy in buildings. Currently, the major concern involving the modern buildings environment is related to the necessity of energy efficient
sustainable structures together with intuitive design and architecture. Management of energy supply and demand equilibrium requires their constant
preservation. 2.2Buildings Management with Phase Change Materials Based on heat storage capability TES media are classified in to sensible heat
storage (SHS) and latent heat storage (LHS). In SHS during phase change, the heat is stored or released in the storage media together with temperature
alteration. Conversely, in the LHS materials heat is stored or released during phase change processes in the form of fusion/solidification. PCM
undergoes a phase change from a solid to liquid state or vice versa when the temperature increases or decreases respectively. It is the phenomena of
phase transformation that enables the PCM to store and release significant amounts of latent heat during the phase changes. LHTES systems are
created by impregnating organic, inorganic, or eutectic compounds into construction elements including wallboard and concrete. They are promising
due to their prevalent acceptance and subsequent adaptation as building materials in the entire buildings environment. PCMs

Saudi Aramco : About The Company
SAUDI ARAMCO
About the Company
Saudi Arabian Oil, also known as Saudi Aramco, is an oil & gas company centered in Dhahran, Saudi Arabia. It is one of the world's most valuable
and profitable company with an estimated worth of approximately 10 trillion US dollars, as reported by the Financial Times. The company not only
has the largest oil reserves (approximately 260 billion barrels), but also has the largest daily production of oil (reference). The company has become a
world leader in hydrocarbon explorations, production, distribution and marketing. With headquarters in Dhahran, the company owns many oil and gas
fields in Saudi Arabia including Ghawar, world's largest oil field. Its yearly production reaches 7.9 billion barrels, 1.26x109 ... Show more content on
Helpwriting.net ...
Saudi Aramco operates on the leading edge of science and creativity, helping to bring to life the ideas that make energy more beneficial and sustainable"
Values
Cherishing any successful business practices has made Saudi Aramco one of the world's leaders in energy. At the same time it is also important to be
proud of any opportunities made possible for others, through the company. There is a 4P principle the company operates on (reference),,
пѓ People: Respect the diversity of people as well as nourish them. Develop a committed workforce.
пѓ Pride: Take pride in what the company does, support excellence and commit to safety, quality and environmental standards.
пѓ Professionalism: Business is conducted with ethical and moral values, as well as in a responsible and accountable manner.
пѓ Partnership: Stakeholder interests are met through a productive and trusting relationship.
Objectives
Strategy is a plan of action to achieve certain goals and/or objectives. A good strategy takes into account obstacles, both seen and unseen, as well as
uncertainties. It is a high level plan that becomes extremely necessary if there are limited resources at one's disposal. Good management is sometimes
defined as good execution of a good strategy. Max McKeown (2011) argues that "strategy is about shaping the future". In other words, humans struggle
to get required results with the available means.
The company's objectives and the

When determining whether a country could be a suitable...
When determining whether a country could be a suitable partner to establish business relations with, many factors must be taken into consideration
before making a decision. Some of these factors include the characteristics of the country, the demographics of the market place and supply base, and
the country's infrastructure. These traits directly affect how a company will adapt to a local environment and how a supply chain manager will make
their decision on whether to establish relations with the country. The country that will be analyzed in this paper with all these characteristics taken into
consideration will be Saudi Arabia. Through the information provided, we will determine whether Saudi Arabia can fit into the future global supply ...
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Saudi Arabia is very well known for its reserves of oil and gas, holding the second largest oil reserves and the sixth largest natural gas reserves in the
world.
The political situation of Saudi Arabia resembles that of an absolute monarchy, in which the King of Saudi Arabia is both the head of state and
government, as well as commander in chief of the Saudi military. The country has been under the leadership of the Al Saud dynasty since its
foundation in 1932. The current leader of Saudi Arabia is King Abdullah, whom ascended into leadership in 2005 after the death of his half–brother,
King Fahd. Due to the country being an Islamic state, the country follows the Islamic law (Shari'ah) as a basis to govern the people and obey laws.
The Qur'an is known as the constitution of the country, as all people within the country follow its Islamic practices. However, in 1992, King Fahd
adopted the Basic Law of Governance as the Royal Decree, containing 83 articles emphasizing the responsibilities and duties of the ruling body.
When in power, the King must appoint a Crown Prince to assist him with his responsibilities and is second in line to the throne if the King can no
longer lead the nation or becomes deceased. According to CountryWatch, Saudi Arabia's Political Stability Index receives a score of a 6 between 1 and
10, "based on a given country's record of peaceful transitions of power, ability of a government to stay in office and carry out its policies vis a vis risk
credible

Keystone Pipeline Xl Project : The Second Largest Oil...
KEYSTONE PIPELINE XL PROJECT Canada has the second largest oil reserves and is a major producer and exporter. This attribute comes with
great demand for faster means to get the oil produced to different areas where it is needed. The Keystone Pipeline XL project is however one of such
means, created to transport oil from Alberta, Canada and the Bakken Shale Formation in the United States to Steele City, Nebraska for onward delivery
to Cushing, Oklahoma, and refineries in the Gulf Coast area. The United States is the world's top crude oil consumer. According to U.S Energy
Information Administration, in 2015, the United States consumed a total of 7.08 billion barrels of petroleum products, an average of about 19.4 million
barrels per day. This essaying will portray what the Keystone Pipeline XL project is about, the potential benefits and who supports its construction, it
will also look at the opposing side; the potential negatives and who is against its construction. Here, I will consider the steps that can be taken to
minimize potential negative impacts and to ensure environmental sustainability of the project. After reviewing the potential benefits and costs of this
project, I will then render my own decision and conclude. Keystone Pipeline XL project consists of a " 36–inch pipeline (that stretches 2,000 miles)
and related facilities that would allow for transport of up to 830,000 bpd of crude oil from the Western Canadian Sedimentary Basin (WCSB) in

The Future Of Gas Prices
The Future of Gas In the not so distant future, gas prices have the potential to hit a staggering $10 a gallon. Government policies also will limit the
consumption to each family to a maximum of $250 per month. The cars of this time period have not increased the gas mileage per vehicle to any
more than a dismal 20 miles per gallon. Families must find new ways of dealing with this situation and learn to manage only 500 miles of driving
potential for the family car per month. The Smith family, consisting of a husband and wife with one beautiful child, proves to be whimsical and
creative to manage this. In order to overcome this epic conservation mandate, oil reserves must be replenished or alternates fuel sources must be
instituted and made ... Show more content on Helpwriting.net ...
Mrs. Smith is a stay at home mom as they just had their first child 6 months ago.
The Smiths chose the home they purchased partly because of its close proximity to many things such as: schools, doctors and a town that is not too
far from them. The close proximity to everything needed feels like a warm and inviting community setting; therefore, some people live in a
community because it is where they grew up. Others choose a community because it is where they found work, such as the Smiths were able to
accomplish (Jackson & Sinclair, 2011).
The Smiths home location has enabled them to budget the 500 mile a month limitation for now. Urban sprawl has enabled a multitude of families to
venture further from big cities into home communities that are less expensive; however, the distance required to most amenities can be vast. It is not
unheard of for some workers to commute greater than 50 miles per day. This would not be plausible if there was a 500 mile limitation on driving a
personal vehicle. A typical month of driving for the Smiths has been reduced to less than 500 miles; consequently, this makes thecarbon footprint they
produce very small and saves them money along the way. The data presented in figure 1 above, illustrates that they are slightly negative for the month.
This is OK, as the end of the month approaches; they

Essay on How Oil Prices are Established
How Oil Prices are Established Did you realize that at our current consumption of crude oil and at our current status of known reserves, we have
approximately 40 years of reserves remaining? This is a startling fact when we take into account all the products that are produced from refined crude
oil or from its by–products. Many people are aware of the price increases they feel at the gas pump, but has anyone ever considered the cost or
investment put forth in finding new reserves? Under the right conditions, oil would sometimes seep up to the surface, but in our times, the search for
new reserves is more costly and dangerous. When considering how the price of crude oil and its by–products are determined, one must first look at the
... Show more content on Helpwriting.net ...
Through various news sources, there has been reported an increase in weather occurrences that cause temporary shortages in crude oil production.
The largest of these occurrences has been from hurricanes. When a hurricane is reported and the path is determined to cross through offshore oil
platforms, all production must be stopped and crews evacuated for their safety. Only once danger has passed, will production resume. This
sometimes can be just a few days or longer, depending on if any damage has occurred. In 2005, the Gulf of Mexico experienced two hurricanes that
devastated offshore and onshore oil production facilities. Offshore oil platforms were broken from their moorings and driven to shore, and onshore
refineries suffered tremendous damage from flooding and high winds. Another weather occurrence that can have a dramatic influence on pricing is the
onset of winter. Rather than winter weather causing supply shortages, the demand increases from consumers requiring fuels for heating. However,
weather is not the only factor that influences pricing. With most of the known reserves currently producing and slowly depleting, the search for
newer sources takes the producers into areas originally thought too harsh or uneconomic to tap. When the oil and gas industry was in its infancy,
crude oil could be found in pools on the ground surface. This was caused by cracks in the geological formation. As crude oil is

The Organization Of The Petroleum Exporting Countries
In December 2014, OPEC was ranked third on Lloyd 's list of "the top 100 most influential people in the shipping industry." It is important to
understand the mission of OPEC is to better understand its influence and impacts on the world. According to the OPEC website, The mission statement
of OPEC is as follows: In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate
and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and
regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. The 13
Nuclear energy is a big trend that many nations are strategically moving towards. As a result, the OPEC nations whose economies are reliant on oil
exporting are taking a hit for the worse. For example, Saudi Arabia is considered the world's largest oil producer. According to Investopedia it produces
13.24% of the oil–consumed daily for the world. It has the second largest oil reserve compared to Venezuela. However, the U.S. Energy Information
Administration shows that the United States out produced the world in total petroleum and other liquids (biofuels, liquids derived from coal, oil
shale, and refinery gain production in 2014. The production was as follows: United States 13,973,000 barrels per day (bbl/day), Saudi Arabia
11,624,000 bbl/day, Russia 10,853,000 bbl/day, China 4,572,000 bbl/day, and Canada 4,383,000 bbl/day. If one does the math: the United States
produced 31% of the total petroleum and other fluids in a day whereas Saudi Arabia produced 25.6% (percentages out of top five producers only). It
is important to note, in the top five producing countries, there is only one OPEC nation. United Arab Emirates, Iran, and Iraq are fourth, fifth, and
sixth in the rankings. Currently, Saudi Arabia wants to continue producing a surplus of oil because it wants to still be a major player whereas smaller
OPEC countries involved want to curb production so oil can be at the equilibrium point on the supply and demand graph. On November 27, 2014,
Saudi Oil

Mw Petroleum-Case Solution 2 Essay
MW corp
By michael_manly | Studymode.com
Draft
Background:
In late 1990, the group of Amoco Corporation and Apache Corporation had begun talking regarding the possible acquisition of MW Petroleum from
Amoco to Apache. MW Petroleum Corporation is a wholly owned subsidiary of Amoco Corporation which has its own reserves, management team and
with full ownership in geologic and engineering data. MW Petroleum, a free–standing exploration company that was even as large as some of
independent oil companies. It operated exploration and development for well, approximately working interests in 9,500 wells in 300 production areas.
The growth of MW was very attractive to the other investors, which company grows 30% ... Show more content on Helpwriting.net ...
Last January 2012, a subsidiary of Apache Energy Limited acquire 49% interest in Burrup Holdings Limited. They also acquired Wxxon Mobil
Corporation's Monil North Sea Limited assets including the Beryl field and related properties. 2
MW Petroleum Corporation before the Acquisition
MW is a wholly–owned subsidiary of Amoco, which they have separate own reserves, management team and with full ownership and wide–ranging
geologic and engineerinf data. It operated exploration and development for well, approximately working interests in 9,500 wells in 300 production
areas. The company composed of three reserves which are the proved, probable and possible reserves. Each reserve contributes different revenue to the
company. An independent petroleum engineering consultants estimates 264 million barrels on an oil equivalent basis. It estimates that the Proves
reserves can produce 180.8 MMBOE, Probable reserves can produce 25.8 MMBO and Possible Reserve estimates of 57.1 MMBOE. MW Petroleum
Corporation after the Acquisition
The acquisition of Apache Corporation to MW Petroleum Corporation was one of the biggest highlights in Apache history. The deal close with the
amount of $545 Million it triggers to double the size of Apache. It brought relative balance to Apache's oil and gas reserves which strategize to partial
hedge the oil price volatility. It shifted the center of Apache's geographical mass to the

Benin's Economy Essay
The two countries that i have chosen were Benin and Libya. Benin being the expansionary country and Libya being the recessionary country. Benin's
economy is primarily dependent on agriculture and cotton. They also produce textiles, beans, rice and other items like that. Benin has also begun
producing offshore oil. Since 1990, Benin has went through an economic recovery. A large input of outside investment from public sources has
reduced the economic struggles of the early 1990s caused by global recession. Benin is rapidly growing its economy and is starting to do well. As for
future aspirations, Benin looks forward to keep growing and expanding their economy. Libya on the other hand depends primarily on petroleum, which
contributes practically all export earnings and over half ... Show more content on Helpwriting.net ...
The civil war brought its economy down and also the country. Oil has been the main force for Libya, it makes up a lot of the country's GDP. The
civil war that had just happened disrupted production facilities and pipelines, causing a dramatic fall in oil production. This brought the decline in
oil for libya. This resulted in the total downfall of the economy. Real GDP dramatically dropped, and because of the dependency of the rest of the
economy on the oil sector, anything that had to without oil also dropped. After the civil war, During the rebuilding process of Libya, Militias
targeted oil facilities as a way to reach their political and economic wishes. This led to a series of periodic labor strikes for higher pay in the oil
industry soon spread throughout the eastern half of the country where most of the oil reserves are located. The militias took over a number of key oil
terminals on the coast so that exports were cut. Socially the people of libya struggled. Their daily life has been completely changed. The hardest hit
are large families that used to benefit from giving state subsidies that have now dried

The Global Clothing And Textiles Industry
Introduction:
1.1 Background: Oil is identified as main input to clothing and textiles industry. In 2010 the global clothing and textiles industry consumes 20% of
global oil output [1]. There are about 1.15 trillion barrels of oil has been verified. But based on current consumption rate, oil reserves on earth is only
enough to satisfy the world oil consumption need for about 42 years. However oil plays an important role in clothing and textiles industry. The oil
refining product synthetic fibre is a primary element in cloths. Chemic fibre used in clothing and textiles is also all refined from oil. When earth's oil
resources becomes unavailable, chemical and synthetic fibre production will have a significant influence, then clothing and textiles industry will affect
either.
In recent 10 years, the world's oil consumption keeps rising. Based on BP world's oil consumption statistics in 2012, the world 's major economies oil
consumption keeps rising. The annual total oil consumption is 2.767 *гЂ–10гЂ—^(10 )bbl which is slightly below the annual oil production 2.868
*гЂ–10гЂ—^10 bbl. There is 3.4% increasing compare with 2011 worldwide oil consumption. But is still 1.6% higher than the average annual
growth rate in recent 10 years [2]. Clothing and textiles industry consumes 20% of global oil output [3]. These 20% is varied by different countries.
For example Asia–pacific region which gathers world's major clothing and textiles industry, there is a significant 5.7%

MW corp Essay
Draft
Background:
In late 1990, the group of Amoco Corporation and Apache Corporation had begun talking regarding the possible acquisition of MW Petroleum from
Amoco to Apache. MW Petroleum Corporation is a wholly owned subsidiary of Amoco Corporation which has its own reserves, management team and
with full ownership in geologic and engineering data. MW Petroleum, a free–standing exploration company that was even as large as some of
independent oil companies. It operated exploration and development for well, approximately working interests in 9,500 wells in 300 production areas.
The growth of MW was very attractive to the other investors, which company grows 30% per year since mid–1980s, due to large ... Show more content
on Helpwriting.net ...
The intention of the company to review its assets with an eye toward selling properties or business lines that did not meet its long–term objectives. The
demand for company's products was in slow pace and oil and gas prices low. Apaches objective was to expand and rationalize their properties.
Adhering to their strategy of growth was to develop and acquire oil and gas reserves. They are aiming to double their reserves in the future. This
investment can lead them increase their asset and investors. Apache's believed that achieving high profit could be realized by acquiring marginal
properties and operating well with expertise. Therefore, the deal was likely to be a win–win situation for both parties, if they could reach a reasonable
price to accept.
Between the two companies, the MW Corporation was more valuable to the Apache, because it would give benefit to them to have expand their
properties and generate income, unlike if it remains with the Amoco that it would be part of the least profitable properties. The Apache's main source
of value was to expand and diverse their asset base while the Amoco's main source of value was to limit their cost, and eliminate the business with a
less profitable.
Structure and execute a DCF valuation of all the MW reserves. How much are the reserves worth? Is your estimate more likely to be biased high or
low? What are the sources of bias?
DCF valuation was popular method used in valuing a company,

The Issue Of Human Smuggling
61.Given the recent international attention to the refugee and migrant crisis, the issue of human smuggling from the coast of Libya has also come to
the fore. Libya serves as a nexus point for the Central Mediterranean Route, the name given to the migratory flow from North Africa to Malta and Italy
through the Mediterranean Sea. The various routes from WesternAfrica and the Horn in Africa converge on the Libyan coast before the perilous
Mediterranean Sea crossing.
62.According to Frontex, "[i]n 2014, detections in the Central Mediterranean area reached a staggering level. More than 170 000 migrants arrived in
Italy alone, representing the largest influx into one country in European Union history. Many migrants departed from Libya, where the lack of rule of
law and basic law enforcement allow smuggling networks to thrive. Syrians and Eritreans were the top two nationalities, but numerous Africans coming
from Sub–Saharan regions also use this route." Between January and August 2015, the number of illegal border crossings using the Central
Mediterranean route already exceeded 106,000.
63.Despite comparatively very high costs for migrants and refugees, amounting to up to US$ 20.000 for a journey, this sum is rarely paid in full to
one centralised smuggling network. Due to the decentralised nature of the smuggling networks, migrants and refugees typically do not pay for their
journey in one lump sum but instead are forced to "pay–as–you–go", paying different smugglers

Arctic National Wildlife Refuge : Seasons Of Life And Land
Many people would find it easy to sympathize with the conservation of the natural, magnificent wilderness and all of its glory; and Subhankar
Banerjee, the author of Arctic National Wildlife Refuge: Seasons of Life and Land, A Photographic Journey, uses that sympathy to gain the reader's
support in his claims. While his article does offer a very compassionate viewpoint with vivid imagery to capture the reader's attention, it lacks strong
logos arguments to back up his claims and falls victim to a few major logical fallacy points that injure his stance.
Arctic National Wildlife Refuge: Seasons of Life and Land, A Photographic Journey is an editorial that argues in favor of the Arctic National Wildlife
Refuge and how it must be protected from the dangers of human industrialization and oil exploration that would surely destroy the land. The author of
the passage dwelves into great detail about the vast, untouched beauty of the Arctic Refuge and how its majesty is among the greatest things he has
witnessed. Banerjee, however, fails to support his argument using substantial facts that might otherwise sway skeptics. For instance, Banerjee states:
"I was saddened to think of the tragedy that might occur if this great wilderness was consumed by a web of roads and pipelines, drilling rigs and
industrial facilities". The author here uses an ethos and pathos standpoint, coming from the perspective of personal experience and opinion of how
distraught he should feel if the land were

Petroleum Industry A Stiff Neck Competition
Oil is one of the many natural resources on high demand. To safeguard the oil, countries' producing it has to take caution in the exploration and the
sale of their oil. This explains why some oil producing countries in such as Nigeria has found themselves in the scramble with big states like the U.S
and the China, which are competing to get a share of the oil. The rush for the oil has attracted new political and economic forces, giving the petroleum
industry a stiff–neck competition. Every state is interested in this rare and natural resource. The oil producing countries also is highly dependent on the
oil and cannot, therefore, gamble with the idea of putting their economy booster at risk. Oil–producing countries like Nigeria are left with no option but
to take great caution when dealing with new scramble for Africa. Nigeria produces large amounts of oil, enabling it to export 10–12 per cent of the oil
to the U.S. Without proper evaluation and calculation of their dealings, they stand to lose miserably on their main source of income. The Middle East
has over the past 15 years experienced a crisis as a result of interests in their oil by the U.S.
In the recent past, however, Nigeria has been hit by cases of political instability resulting in insecurity which has affected some of the oil companies like
the Chevron and the Royal Dutch Shell. Escalation of major insurgencies has reduced the revenue obtained from oil as a result of the cut national
output. America's energy

Corporate Deviance And Corporate Social Responsibility
Generally, organizations are concerned with giving back to the society in order to appreciate the contributions of the host community to their growth,
sustainability and survival according to Oko & Agbonifoh (2014). Using this as the basis of their operations, corporate alertness is increasingly being
given to corporate social responsibility philosophies. Most business organization thus work on the idea of maximizing the positive effects of their
operation on the society as the negative impacts of these operation are minimized – Farrell and Fraedrich (1997). This is the thrust of corporate social
responsibility as considered an obligation among businesses in the advanced societies of the globe.
Oko & Agbonifoh (2014) further posited that businesses come to play for the purpose of meeting the desire of shareholders. Thus, Friedman (1970)
argues that the major social responsibility of business is to use its resource to engage in activities designed to maximize its profits so far it stays
within the ambit of the game, without deceit or fraud. Unfortunately, most laws formed due to public outcries have poised danger to profit
maximization, thus the wellness of shareholders. Most of these sayings relate to the obligations business organizations have to those whose physical
energy and activities can have effect on the achievement of corporate aims as stakeholders as well as members of the public in respect to the
conservation of ecological environment and the public safety. Hence,

A Comparison Between Petron And PETRONAS
Expansion of a business is a very important element because it can bring us to another level of higher in our business level. As we can see here we
are comparing between Petron and PETRONAS. To expand both companies, an international expansion should be preferred. International are very
famous and it has been one of the reason of a company to be famous and better known around the world. Petron has also linked with international
companies even though it is not that famous in our own very company. On the other hand, we can see that it goes the same to PETRONAS. We should
be able to expand our business, when we reach a certain level in the market place.
Moreover, both Petron and PETRONAS have the largest retail network. Recently they have opened branch at Philipine, United States and more
countries. They are also producing the most exclusive petroleum. This is also one of the main reasons why it has being opening many branches as in
other countries. Shana (2015) says that "PETRONAS continue to look at CIS countries, and we are present in Turkmenistan. But one needs to
remember at that time everyone was rushing into CIS and, as a new player, we needed to consider whether we were going to be acceptable to the host
government or not, compared ... Show more content on Helpwriting.net ...
PETRONAS is now growing towards international levels. Although its business is growing internationally, it has a high competition in the market. To
expand PETRONAS business, the company must improve the quality of the fuel and petroleum where targeted customers would more prefer to use
fuel which has a high quality. High quality of fuel able to clean and provide a smooth journey for those who are using fuel in their vehicles. This
would be an advantage for them to competitive with other petroleum production company. By here, it may help PETRONAS to reach their targeted
level of sales and customers, besides; this helps the business to be expanded to a high

Drilling Alaska: America Needs to Adopt Conservation...
Drilling Alaska
I recently read an article in Scientific American (May 2001) titled "the arctic oil & wildlife refuge." The article addresses the issue of whether or not
science has the ability to clarify the potential economic benefits and the ecological risks of drilling into the nation's last great coastal wilderness
preserve. What I began to wonder after reading the article is, if we humans should continue our scientific and technological petroleum endeavors even
though we are causing irreversible harm to our earth. My feeling is that we should not drill in Alaska's Arctic.
In the early twentieth century, science and technology brought the automobile. In less than one hundred years, humans especially Americans have grown
Can the most high–tech, compact, thoroughly monitored development still pose an unacceptable risk to the wilderness? In a situation such as this
where the natural environment is at a serious risk and the public and decision makers are in a dispute, we must all turn to trained scientists in order to
more precisely determine what is at risk and which outcome will serve all parties the best.
In the case of the Arctic over the past twenty–five years, biologists have been studying and have quantified how underground petroleum activities
disturb the life on the surface. For the past thirty–years, petroleum geologists have worked to create less destructive methods of locating and removing
oil. Typically people think of science and technology working together to better our lives. In the Arctic situation it is more a case of science versus
technology. These two groups of scientists, biologists and geologists, have been pitted against one another. It is difficult to determine who to believe
and in that decision, it depends on what one feels to be more important: nature or need. What we must also consider is who the funding for the studies
is coming from.
Who funds scientific studies is a critical point and one worth taking a look at. Whoever is providing the money for studies has a vested interest in
what the final outcome will be. Skewed science is looked down upon by the professional scientific community

U.s. Foreign Oil Dependency
Foreign oil dependency is a major topic that is hotly debated in US politics. The United States relies on imported oil for about 40% (in 2012) of
petroleum consumed and is the world's largest consumer of oil. About 53% of the foreign oil imported is from other Western nations such as
Canada, Mexico and Brazil. 28% is from the Persian Gulf, 16% from Africa and the remaining from other areas of the world. Canada is currently
the leading crude oil supplier to the US. Some believe that importing oil has benefits to our economy, while others believe it is a security threat.
Some economists believe total energy independence would reduce the demand for the US dollar, as the oil trade is done is US dollars. Since oil
prices are set for the total supply of oil, the global market will decide the price of oil regardless of whether the US imports oil or not. Therefore, to
keep the dollar strong we should continue to import oil. However, the U.S Department of Energy claims that although US petroleum production has
increased and net imports have decreased oil imports have cost our economy around $116 billion in 2014 and oil price shocks and price
manipulation are to blame. The solution the US Dept. of Energy has set out is to developed more advanced and fuel efficient vehicles, and create new
energy sources to replace petroleum. Arguments are made for alternative means of retrieving oil on North American soil such as fracking and tar sands
but there is a strong opposition

Individual Global Crises Are the Result of a Failing...
Introduction: When we solve problems we are taught to breakdown our issues into smaller components and analyze each piece separately in order to
find a solution. This is a good method for problem solving, however, we must take into consideration that many problems are complex and their
components intricately connected. It is essential that we put these pieces back together and analyze the problem as a whole to make sure we are not
missing any critical information. In this paper I am going to explore many issues of global crises. I will argue that global crises such as environmental
degradation, the diminishing of fossil fuels, food shortages, economic instability, and international terrorism are all the result of a failed global system.
Human–caused global environmental changes are the result of a rapidly growing population and our high dependencies on non–renewable resources
such as fossil fuels (Vitousek, 1994). We are part of a consumerist society which keeps us plugged into this dependency on cheap fossil fuels (Ahmed,
2012). Our intensive industrial and agricultural activities cause us to exploit the Earth's resources, and we cannot continue on this path. Ahmed (2012)
explains that this does not mean the end of the world, but it does mean that this is the end of a particular form of industrial civilization which is based
upon the idea of unlimited growth.
Diminishing Fossil Fuels: Ahmed (2012) argues that we have reached peak oil, and states that even BP's data shows we reached a peak in 2004
followed by a few years of plateau and we are now in the beginning of a descent. Shafiee and Topal (2009) created a model for estimating the depletion
of fossil fuels. With their model they have calculated that oil, coal, and gas reserves will be exhausted in approximately 35, 107 and 37 years,
respectively. We are already beginning to suffer the economic consequences of the world's decliningfossil fuel reserves, with a significant increase in
gas prices since the 80's (Tepperman and Curtis,

U.s. Bush 's Foreign Policy Essay
The Persian Gulf, the critical oil and gas –producing region that we fought so many wars to try and protect our economy from the adverse impact of
losing that supply or having it available only at a very high cost. (John Bolton, George w. Bush's ambassador to the United Nations) (Gibson,2014) It is
essentially true that Syria is a country with abundant natural resources. This can be illustrated by the comment mentioned above that America has
always taken a keen interest to the Middle East to reap the benefit of huge oil and gas industry. Since Syria is the second largest oil producer after Iraq, a
huge political economy worked behind America's decision to wage war on Syria, which left a disastrous impact on overall development of Syria.
America's foreign policy focuses predominantly on interest– seeking for them even at the expense of the entire world. President Barack Obama's
secretary once said "US foreign policy is not driven by actually what people want, but by what is best for America"(Gibson,2014) Syria with all its
natural resources could have been one of the leading economies in the world, but due to interest seeking so called super powers of the world they are
experiencing a painful nightmare that their country has ever seen before. Nearly all major cities coupled with their all infrastructures have been
demolished. Hundreds and thousands of people fled the country

Mineral Materials Present in Kazakhstan
Kazakhstan is located and deal with two continents, in Astana, the capital, but the city in the immediate vicinity of the geographical centre of the
Eurasian mainland. On the area of Kazakhstan occupies the 9–th place in the world, yielding only to Russia, China, USA, Argentina, Brazil, Canada,
India and Australia. The urban population forms of 57%, and the rest of the rural population. in 2004, the number of the population of the Republic of
increased. Altogether,Kazakhstan live 131 representatives of nationalities. In the ethnic structure of the population, the largest nationality groups in the
Republic of Kazakhs, Russians, Ukrainians, Uzbeks, Germans, Tatars, Uigurs; they dreamed up, 95% of the total number of the population of the
country. Since 1994 in the Republic of Kazakhstan, approximately 3,000 foreign joint venture operates, Kazakhstan foreign capital investments to 8
billion US Dollars. This amount is approximately 16 years of independence in the past and is of great importance for the country. This magnitude of
capital inflows, the country's former production rehabilitate the infrastructure is rapidly and the economy of new facilities have been added. All data
are analyzed, about 1.5 billion US Dollars in the upcoming volume of investment of the Republic of Turkey, in the Republic of Kazakhstan in the
world, after the United States understood. Turkish business in Kazakhstan today more trade, investments, telecommunications, hotel business,
production of

The World 's Largest Proven Oil Reserves
Introduction
Canada holds the distinction of having World 's 3rd largest proven Oil reserves. The province of Alberta alone contains 98% of all these reserves,
discovered in Canada (1). This is why Alberta holds the key position in Canadian economy as Canada is the fourth largest exporter of the oil and it
makes up almost one–quarter of Canada 's exports as well as Gross Domestic Product (GDP). Almost 99% of Alberta oil reserves are contained in oil
sands and the remaining 1% are present as conventional crude oil. According to an estimation, Oil sands contain up to 168 billion barrels of oil and
conventional crude oil makes up to 1.5 billion barrels (1). But, with the passage of time, there has been a shift in the global economy with the ... Show
more content on Helpwriting.net ...
Less than a hundred years later, in 1875 the first ever government–sponsored geological study was carried out by John Macoun. Charles Mair, a
recording secretary traveling with the David Laird Treaty expedition of 1899, described the future of Athabasca river region as 'substance of great
economic value '. In his words "when the hour of development comes, it will, I believe will prove out to be a wonder of North Canada". He even
mentioned the boiling process, which was then used to liberate oil from the oil sands mixture. The same process, with technological advancement, is
used today in most of the oil production industry (1).
Commercial Development of the oil sands started with the start of 20th century. Initially, the focus was not to produce energy from the oil sands but to
use them as road paving material but it could not compete with the imported asphalt and so the project was abandoned. In his book, "William Stewart
Herron, father of petroleum industry in Alberta", R.C Macleod wrote about how an unsuccessful entrepreneur from Ontario traveled to Alberta and
established Calgary Petroleum Products Ltd. and set the ground for the development of Alberta 's first well that gushed oil (4). But the process of Oil
Sands was still complex and could not get much help till 1926 when Dr. Karl Clark began work on Oil sands in Alberta Research Council on the
'energy–focussed ' project and he nearly

Benefits Of Oil Drilling In The Arctic National Wildlife...
The question is should we drill for oil in the Arctic National Wildlife Reserve. While there are downfalls to drilling the Arctic National Wildlife
Reserve, the benefits to the country and to Alaska far outweigh them. These benefits include lower gas prices, more jobs, energy independence.
First off, there are many benefits of oil drilling in the ANWR. It will lower the gas prices for all of the U.S. The reason it will lower the gas prices
because we will be using our own oil instead of buying oil from other countries. Lower gas prices will help the economy out very sufficiently
because you won't be spending as much money on gas and could use that extra money to pay off bills or if you're a teen and only making 8.05 an hour
and have to pay

Benefits and Drawbacks of Countries Dependent on Oil and...
Essay Question 1 – Global Resources
The distribution of natural resources like oil and gas are unevenly distributed across the world (Stutz, 2007). This essay will explain where the
majority of oil and gas is located. Thereafter, the focus will be on the benefits and drawbacks of countries that are dependent on oil/gas. Finally, a
conclusion will be given which sums up the most important factors.
Allocation Oil/Gas
The majority of the oil reserves are located in the Middle East. An estimate of 65% of the total worldwide reserves is situated in this region with Saudi
Arabia being the country with the most oil reserves. Other large oil reserves are located in Mexico, Venezuela, Russia and Nigeria (Stutz, 2007).
When we look at ... Show more content on Helpwriting.net ...
Even though this is still the case in some parts of the world, the majority of these countries applied a state owned control on the extractive industry.
This increases a countries' control over its resources and can therefore tailor its production to the demand, hence avoiding having a production surplus
as happened early 1970's when extractive industries were for the majority owned by western companies (Stutz, 1970).
Weaknesses resulting from being oil/gas dependent
The most common acknowledged weakness of being dependent on oil/gas is the fact that these sources are going to deplete at some time. This
phenomenon will be enforced by the increase in consumption over the next decades, as it is calculated that oil supplies would supply worlds demand
for another 40 years and natural gas needs for 60 years.The need to be more self–reliant will only increase in western countries, as they will have to
develop resources like solar and nuclear energy to substitute oil or gas (Stutz, 2007).
Another weakness for countries reliant on oil/gas is the sensitivity of the oil/gas market. As can be seen on the figure alongside, over the years oil
prices were subjected to fluctuations arising from different events like the Iranian revolution and different political conflicts like the Iraq's invasion of

George Orwell's Nineteen Eighty-Four 1984 Essay
Not so free after all
Big Brothers eyes are over watching us everyday. The privacy we once had has dissipated. His focal point is in the sky like an eagle stocking its prey.
The camera lenses of Big Brother dwell everywhere. Big Brother is always awake and has an eye on us. As of today, Big Brother has risen taller and
mightier. He has gained the power to control what we can have knowledge about and has infiltrated into our private lives. George Orwell's novel 1984,
prophesied coming of our democracy of a negative utopia has been proven by current events. Today, the United States democracy is looking much like
the totalitarian state of 1984. Tactics of persuasions to make citizens believe their economy is ... Show more content on Helpwriting.net ...
Each one of them is censored by the government department of the FCC, which stands for the Federal Communications Commission. Much like the
ministry of truth, it regulates U.S. broadcast media and communications markets. Everything a news reporter reports a story on is looked at
beforehand for censorship before it hits the television screen. If for instance he or she is doing a story on something the Party/Government wishes not
to reveal to our eyes and ears, then the story never hits the screen or air. They only want you to hear what they want in other words. Since they own the
press, they can do this. They follow a concept called the Authoritarian.
The Authoritarian concept is viewed as the oldest of media concepts, tracing its roots from the as far back as Gutenberg's invention of the printing press
in the mid–fifteenth century. With this invention came government limitations and restrictions on something they saw could challenge their authority.
"The basic principle of authoritarianism is the press is always subject to the direct of implied control of the state or sovereign. Diversity of views is
seen as wasteful and irresponsible, harmful to the country's development. Under this system, the press are allowed to gather and publish news, but the
news must be for 'the good of the state', and should not criticize authority or challenge the leadership in any way."(McCormick) Everything we see or
hear from the press

Saudi Aramco : A Fully Integrated Global Enterprise
Company: Saudi Aramco
Headquarters: Saudi Aramco is headquartered in Dhahran, between the two cities Dammam and Al–Khobar in the Eastern province of Saudi Arabia on
the coast of the Arabian Gulf.
Number of Employees: Employs more than 61,000 employees worldwide from 77 countries.
2013 or 2014 Profit/Loss: Saudi Aramco is by far the biggest energy company in the world, generating more than $1 billion a day in revenues. Saudi
Aramco 's value has been estimated at anywhere between US$1.25 trillion and US$7 trillion.
1.What value–add does your company provide consumers? (refer to Chapter 1)
Saudi Aramco is the country owned oil company of the Kingdom of Saudi Arabia. The company is a fully integrated global enterprise. Saudi Aramco
has ... Show more content on Helpwriting.net ...
Saudi Aramco is positioned to build upon their greatness as the leading supplier of hydrocarbon resources. The company offers petrochemical products
along with advancement of technological innovation that will result in cleaner fuels for the future.
2.What is the company's vision or mission statement? Do they have an organizational strategy listed (if so, what it is?) Do you agree with their vision
/mission/strategy? Why or why not? (refer to Chapter 2)
Vision: We cherish the values and the successful business practices that have made us one of the world's leading integrated energy and chemicals
companies. But we are even prouder of the opportunities we enable for others. Energy is the great enabler of life in the modern world. It gives us the
means to make our lives more mobile, productive, and meaningful. It gives us the power to provide sustenance to people around the world. With it, we
transform our aspirations into businesses that put people to work and drive global commerce. With it, we explore our universe, develop new medicines,
and bring to market new technologies.
As the global population grows, economies expand, and standards of living increase, energy will continue to be an essential enabler of opportunity. We
are executing a wide–ranging strategy to ensure that we are at the forefront of providing the needed energy – today and tomorrow.
Guided by our Strategic Intent, our business strategy has five focus areas. Each is an area where we are

International Accounting Financial Standards Of The Oil...
Introduction
The upstream sector of the oil and gas industry is majorly capital intensive and characterised by numerous uncertainties likely to affect exploration and
exploitation of natural resources. The complexity of projects, stringent regulatory framework and operating circumstances contribute to its functionality
and outcomes. Host countries have the benefit of negotiating the arrangement in which multinationals firms will operate.
Formation of a Joint Operating Agreement (JOA) between an International Oil Company (IOC) and the host governments by way of National Oil
Companies (NOC) drafts a contract for interested parties to sign. It is through such an agreement that co–operations explore, develop and produce oil
and gas ... Show more content on Helpwriting.net ...
Finally, the third part will raise arguments about the roles played by IFRS 6 guidelines in upstream sector accounting and reporting.
Operating Arrangement by IOC's
Prior to exploring and exploiting hydrocarbons, multinationals and host governments engage in contractual agreements to ensure process is facilitated
smoothly. All relevant information are captured in the agreement such as length and parties to the agreement, party's interest, the works scope, control
cost and liabilities, transfer interest, allocation of hydrocarbon, accounting procedures just to mention a few. According to Al–Attar A. and Alomair O.
(2005), the upstream petroleum arrangements have undergone three evolutions namely the concessionary agreements (CAs), economic nationalism and
the current participation agreements (PAs)
At first, global vertically integrated companies "seven sisters" held concessions in several countries especially in low cost E &P areas (Al–Attar A. and
Alomair O. 2005). The PAs were majorly controlled by IOC's due to oil–rich nation's naivety about resources in the less developed countries and
extraction skills. Due to their biasness; politics and the continued acceptance of oil and gas, countries holding the reserves re–negotiated and sort
options to CA (Waqas M. 2014).
The improvements led to the economic nationalism contract which saw NOC's come into the industry with new agreements. With inability to negotiate
concession terms by host nations,

Why Is Canada The Largest Country
Canada is the second largest country in the world with more than three million square miles in area. Canada's huge size doesn't mean it has a huge
population . with a population of 36 million people, most Canadians live near the great lakes because it has a great fertile ground for agriculture.
Canada is located in North America , right above The United States. The first inhabitants of Canada are the Inuits also called eskimos. In 1497 John
Cabot in the service of King Henry VII of England reached Nova Scotia . By 1534 Canada was taken for France by Jacques Cartier . England extended
its territory during the seven years war where British general James Wolfe won over General Louis Montcalm and the treaty of Paris in 1763 gave
England Control. Canada is a federation of 10 provinces which are Alberta , British Columbia , Manitoba , New ... Show more content on
Helpwriting.net ...
23% are atheist or have no religion. Canada has no official religion although the monarch carries the title 'Defender of the Faith'. It has official
holidays for religious celebrations like Christmas and Easter. Canada has many allies. It is part of NATO (North Atlantic Treaty Organization) it's
a military alliance where countries agree to military defend each other from outside attack. NATO has 28 members. Canada was involved in both
World Wars also the Russian civil war , the Persian Gulf war and now in the military invasion of the Islamic State in Iraq and Syria along other
countries. Canada's liberal party which was voted for in 2015 means it's not going into new wars anytime soon. Canada's major cities like Toronto ,
Montreal and Vancouver have all been votes as the best places to live in North America. The low crime rate and small populations and the huge size
make them a great place to live and start a new life . Many famous universities are based in Canada. Like Calgary University and Bishop's

The Crisis Of The Global Oil Crisis
The global oil prices have fallen sharply since the second half of 2014, which has led to a series of economic problems. Oil prices have been stable
from 2010 until mid–2014, remaining at around $110 a barrel (BBC News). However, prices showed a sharp decline since June 2014 and have been
more than halved now (BBC News). Brent Crude oil is priced below $50 a barrel and US crude is dipped down to below $48 a barrel now (BBC
News). Oil prices shock is making the whole oil industry straggling. In particular, oil producing and exporting nations including Russia, OPEC
(especially Venezuela andSaudi Arabia), and United States are the major victims in the oil prices shock. They are suffering from a fallback in their
economy development due to the significant revenue shortfalls. Russia is suffering from a significant economy recession (BBC News). Brad
Plumer points out that economy in Russia is "facing a potential meltdown"; Venezuela is "facing unrest" and "may default on its debt"; and Saudi
Arabia will face heavy pressure if the price remains low even it has prepared for the shock (par. 7). Nonetheless, low oil prices are welcomed by oil
importers like Europe, Asian countries, especially China, Japan, and India because they can pay less for oil. Europe's flagging economies are
characterized by low inflation and slow growth, receiving 0.1% increase in economic output when a 10% fall happened to oil prices (BBC News).
China, the largest net importer of oil is surely benefiting

Venezuela 's Oil Reserves
Venezuela resides along the Caribbean Coast of South America. It is neighboured by countries like Brazil, Guyana and Colombia.Venezuela's oil
reserves amounts to 95% of the country 's exports revenue. In terms of GDP, 25% of revenue stems from the oil and gas sector. As of today,
Venezuela holds oil reserves of 298 bbl which is the largest of any country in the world as we know it. Venezuela was able to storm ahead of
countries like Saudi Arabia, Iran ,Canada and Iraq in terms of oil reserves due to the discoveries of huge residue of oil sands deposit. Also,
Venezuela's Orinoco tar sands are less thick compared to its other Middle east and North American rivals. This advantage allows them to use
conventional extraction methods to mine out... Show more content on Helpwriting.net ...
Venezuela is facing serious inflation within the country due to the ever dropping currency, thus companies and firms are having to pay or spend than
the usual to do the regular procedures. Some of the huge companies in Venezuela like Kimberly–Clark (KMB), Pepsi are beginning to shut–down
business operations due scenario they find themselves in describing it has "financial barrier".Despite having the largest oil reserve in the world,
Venezuela still having go through a lot of expensive procedure to refine their oil because the oil found there is viscous and difficult it has to be
mixed with several oil types from the before it can be used. This process has been made harder to perform because of the economic crisis making
Venezuela experience cash shortages. Venezuela main issue it became to over
–reliant on its oil industry. Oil produced from tar sands are arguably the
most demanding to extract and the most expensive. In addition, the oil even when mined from the ground is very heavy and has to be mixed with
other type of oil so it could be used.The government neglected other industries like Farming, manufacturing and depended on gains from its oil export.
In contrast, Saudi Arabia one of the major producer of oil production in the world produces oil lesser than Venezuela because of the efficiency of their
oil companies like Saudi Aramco, although saudi Arabia more is more obtainable. Despite the

The Depletion of Kuwaiti Oil Reserves
Depletion of Kuwaiti Oil Reserves Background Kuwait is one of the 12 members of the OPEC countries, the Organization of Petroleum Exporting
Countries. According to the organization, these members produce about 81 percent of the total oil produced in the world. In the recent past, there
have been rumors about the country not producing as much oil as it is proving that it does (Cobb, 2012). It cannot be said with certainty whether
or not the oil reserves of Kuwait are depleting, however, this subject is important for discussion because the whole world depends on oil reserves
of the major oil producing countries. All the issues, economic or political, revolve around one country wanting to take over the other for its all
reserves. In this paper, we shall discuss the presence of oil reserves in Kuwait and some news pertaining to their depletion and overstatement. We
shall also address this topic in another aspect; the oil depletion protocol. IHS Data Suggestion of Kuwaiti Oil Reserves The Energy Institute hosted
the Oil Depletion conference in London in November of 2006. In this conference, the Vice President of IHS Energy, Dr. Kenneth Chew gave a
presentation that stated that the probable and proved oil reserves of Kuwait are around 52 barrels. This figure is almost 51 percent of the reserves that
have been proved and reported in the BP statistical review that states that Kuwait has 101.5 billion barrels of oil. These statistics tend to support the
recent news about Kuwait

Case Study Of Chevron
Chevron is one of the largest publicly world traded oil and gas companies in the world, based on proved reserves. It is lifting in oil and gas production
and exploration and distillation of petroleum products, manufacturing of chemicals, and other energy–related businesses. Chevron, in its present form,
resulted from the 2002 merger between Texaco and Chevron Corporation.
Chevron is one of the largest integrated energy players in all over the world. The company's oil and gas development projects is among the best in
this industry. However, with some deficits in its operating cash flow, the company needs to look for other avenues like asset sales to meet its shortfall.
The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the
world. Chevron Corporation lately ... Show more content on Helpwriting.net ...
In 2014, the Chadian government announced plans to triple its oil production by 2015. The country's oil reserves are estimated to stand at 1.5 billion
barrels. With Chevron now out of the picture, companies willing to accept the risks and challenges of doing business in Chad stand to gain opportunities.
These assets have played a substatial role for Chevron in Africa for the past 14 years," said the president of Chevron Africa. "They have been a
profitable as a part of our portfolio for many years. The combination of current market conditions and the size of the assets relative to our portfolio
make this time an ideal time for a divestiture."
Foolish conclusion:
Trends in the energy sector, including rising capex costs, have pushed Chevron to change its strategy. Selling its Chadian assets was a good decision
because of the region's instability, the declining production of the assets, and the disappointing transport volume carried by the Chad–Cameroon
pipeline. However, Chevron's exit opens up opportunities for competitors advancing different strategies in the potential–filled

Problems In Venezuela
Venezuela Economy Approximately 13% of Venezuelans are involved in farming. The main crops planted are corn, sorghum, sugarcane, rice, bananas,
vegetables, and coffee. There is also extensive livestock rearing and fishing. Venezuela's mountains long hindered the nation's economic development
because of the communications problems they faced. The country has developed a fine highway system, but goods are still carried mainly by ship.
Venezuela has the second largestpetroleum reserves in the world, and oil accounts for about 90% of the export income, 50% of government earnings,
and 30% of the gross domestic product.
Venezuela is the largest foreign oil supplier of theUnited States. Other goods to be exported are bauxite, aluminum, steel, chemicals, iron ore, coffee,
cocoa, rice, and cotton. Imports include raw materials, machinery, transportation equipment, and construction materials. The main trading partners are
the United States, Colombia, and Brazil. A large amount of oil is exported to the Netherlands Antilles and Aruba for refining. Maracaibo, Puerto
Cabello, La Guaira, and CumanГЎ are the important ... Show more content on Helpwriting.net ...
Beginning in late 2005, price pressures on wholesalers and other middlemen due to inflation and price controls led to shortages of many staples in
retail stores. In Aug., 2008, the government raised prices significantly on many staples and terminated price controls on others in an attempt to end
food shortages. Meanwhile, oil production has reduced as the government has redirected money from the growth and upkeep of the oil industry in
order to fund social

Meet The Stans: Film Analysis
Literary Representation
Kazakhstan was chosen as the country of choice for the final portfolio project and the film chosen to explain or demonstrate how the country functions
was Meet the Stans: by BBC correspondent Reeves (2003). In this paper the film will be analyzed to determine whether it accurately depicted the
country. The important information from the film will be extracted and compared to the information that has been gathered towards the portfolio
project for accuracy.
Kazakhstan
The film Meet the Stans largely portrays Kazakhstan as a country trying to find its identity. The start of the film shows scientists opening up vials of
extremely harmful diseases, that are effectively uncontrolled with very little to no security. The context of this scene, seemed to portray this region as
something that was attempting to become developed and showing that they are practicing advanced medicine or trying to do research on diseases to
help better protect their people, but then largely contrast it with gaps in how it is being done and displaying how they still struggle with putting the
entire picture together. ... Show more content on Helpwriting.net ...
This ties in with some recent reports that Kazakhstan has one of the fastest growing economies in the world (Robinson, 2015). Hugely because of the
oil reserves found in the country, Kazakhstan has benefited from averaging 8% growth rates since 2000 for their GDP and has given significant rise to
the per capita income (International Monetary Fund, 2013, p. 3). These large oil reserves have given many countries great interest in the country and
continue to provide money to this region to help ensure their own interests are secure in regards to providing oil for their own

Is Drilling Necessary? Essay
During the last few years, the people of the United States have spent money excessively when and where spending was unnecessary. The excess
spending has resulted in the current recession. The economy went into recession when the price of gasoline increased to four or five dollars a gallon
in 2008. A way to offset the recession would be to expand drilling in theUnited States. The Energy Information Administration estimates the amount
of oil in the Bakken Formation alone at 3.0 to 4.3 billion barrels. Drilling for oil domestically is not only viable but also, it is beneficial to the United
States because it will reduce reliance on foreign oil, provide fuel at a cheaper cost, and create jobs for American citizens. Oil and oil–like ... Show more
content on Helpwriting.net ...
Why America is not drilling is an example of insufficient use of local resources. By inland drilling from the reserves, Americans could cut the cost
of spending on foreign oil and provide for the citizens of the United States. Because of the vast resources, America can drill without having to worry
about consuming all the resources available. The United States dependence on foreign oil has harmed the economy. In the article, "Wishing Well,"
Tim Burnhill states, "Everyone agrees the U. S. must reduce its reliance on imports from potentially hostile countries, which means finding new
domestic reserves." Burnhill is right! If America will begin drilling domestically, the country will recover from some of the debt created in the States.
Rather than depending on its own resources, the United States continues to depend on the imports from violent countries who only want to see
America fall. The fact of the matter remains that the debt has become too high and the resources from violent countries such as Iran, Iraq, and
Pakistan, are no longer affordable. Libya is another violent country ran by Moammar Gadhafi. Gadhafi wants to receive favor from his countrymen by
lowering the gas price, giving dinars to each household to live on, and offering more credit to those who own a cell phone. Not only that, but Gadhafi
has taken steps to insure that money from oil will stay in the East through "the Arab Gulf Oil Company, an affiliate of the Libyan government's

The Oil Reserve : Oil Reserves Essay
Proven oil reserve is the portion of oil in a region that can be technically and economically recoverable under certain political conditions. It is
possible for a resource of billions of barrels to result in zero proved reserves, which was the case of Venezuela with the heavy oil in the Orinoco Belt
that was expensive to extract and refine. With over 298 billion barrels of proven reserves, Venezuela is recognized as the country with the highestoil
reserves in the world. There have been discovered huge sand deposits, similar to those in Canada, but they are less viscous than Canada's, so those oil
sands in Venezuela can be extracted by using conventional methods, which has an advantage over Canada's due to its requirements for extraction and
lower costs.
OPEC Member
Venezuela is the fifth larger member of the Organization of thePetroleum Exporting Countries (OPEC) by oil production. In early 2016, OPEC
countries were increasing their oil output, and Venezuela was producing only 2.15 million barrels of crude oil per day, which was their weakest pace
since 2012. Venezuela's financial situation has caused a shrink on oil production, and a severe food shortage. Among OPEC member nations, Saudi
Arabia completely overpowers every other country for about 30%, which means that its oil industry is more efficient and cost effective than Venezuela,
even though its proven oil reserves are less than Venezuela's.
Extraction Process
Economical and technological efficiency
The Latin

Tnk-Bp: Tread with Caution
Page 35
TNK–BP: TREAD WITH CAUTION
Christopher T. Bluhm, Saint Mary's College of California Mary Vradelis, Saint Mary's College of California Catherine Li, Saint Mary's College of
California Brett Threlkeld, Saint Mary's College of California J. Tomas Gomez–Arias, Saint Mary's College of California
CASE DESCRIPTION The primary subject matter of this case concerns the management of international joint ventures. Secondary issues examined
include: business in Russia; government's intervention in business and how it affects multinational companies; market entry and modes of market entry
decisions;; and dimensions and elements of culture (Fang 2003). The case has a difficulty level appropriate for first or second year graduate level. The
During the war, the British government expropriated the company's assets and sold them to Anglo–Persian in 1917. Over the next decade, gas and
electricity replaced kerosene for home heating and gasoline–fueled trucks competed with railroads and the automobile age had begun. In 1935, Persia
changed its name to Iran and Anglo–Persian changed its name to AngloIranian. Then in 1939 Britain entered World War II and gasoline was rationed.
With the high risk in transporting oil from Iran to the UK, the company increased production at a field in Nottingham, England. The quantities were
small but large enough to help the country get by. The field was one of the best–kept secrets of World War II. After World War II, as Europe rebuilt,
Anglo–Iranian invested in refineries all over Europe and began selling gas in New Zealand. Middle Eastern nationalism was rapidly expanding, and
Britain's control over Iran was rapidly diminishing. In 1951 the Iranian Parliament nationalized oil operations within the country's borders.
Governments around the world boycotted Iranian oil, and within 18 months the Iranian economy was in ruins. Eventually a new arrangement was
worked out with a consortium of companies including Amoco and others running the operation with Anglo–Iranian's stake down to 49%. In 1954 the
board changed the company's name to The British Petroleum Company. In the 1960's, expeditions started finding oil in places like Abu Dhabi, Nigeria
and Libya. In 1965, BP found

History Of Southern California 's Shoreline And...
Introduction
On the afternoon of January 28, 1969, a terrible environmental disaster occurred when a well blowout on the Union Oil Company platform A,
causing one of the largest oil spill in the United States. The platform was located in Summerland Oil Field pier which 6 miles east of city of Santa
Barbara. Riggers desperately tried to repair the well before oil started spreading to the shoreline. Needless to say, the effects of the oil spill sparked
outrage from the local community and the media that inevitably caused ecological effects, safety and ethical concerns. It took oil workers a total of
11 days to cap the ruptured pipe, while an estimated 3 million gallons of poisonous black crude oil showered the Pacific Ocean. Sadly, oceans... Show
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33). Oil companies and prospectors quickly started developing oil rigs on private beaches, and in 1896, the world's first offshore drilling rigs was
originated in Summerland, California. Summerland was a tourist town known for the tranquil climate, beautiful beaches, and health resorts. As oil rigs
were being constructed, drilling was often rushed and the marine water suffered ecological harm by being the dumping grounds for waste and other
harmful conditions. The local community and environmentalist were increasingly becoming outraged when the well– manicure coastlines were
rapidly becoming disfigured by noisy, disruptive, plastering oil rigs. During this time, all offshore activities were unregulated by the state and the only
legal requirement for prospector was that they negotiate an agreement with the owner of the ocean front property of which drilling rig would be
extended (Wilder, p.31). As technology evolved, offshore drilling moved progressively into deeper water and farther away from oceanfront. In 1958,
Richfield Oil Company developed the first drilling man–made island in Rincon where there was a substantial amount of oil was found. With the
mounting pressure and high demand to produce more oil and gas, geologists studied the anticlinal trends and discovered the abundance of oil
productive in Rincon Island extended underneath the Santa Barbara Channel. By the 1960's, oil prospectors began to partner with one another
developing into large oil

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