The document discusses the United States energy industry and natural gas. It notes that natural gas is playing an increasingly important role as an alternative to other fossil fuels like coal because it burns cleaner. While the US energy industry leads in drilling techniques like hydraulic fracturing, other countries are beginning to adopt these methods as well. The long-term health and environmental effects of techniques like fracking are uncertain and debated.

1. The United States Energy Industry Essay
Natural gas is playing an increasingly important role in the global economy, rising to the occasion as
an alternative to other fossil fuels such as coal because it burns cleaner. As the oil reserves in many
parts of the world are being depleted, the availability of a viable alternative such as natural gas is
becoming increasingly important. So too is the lure of the future possibility of energy independence
for countries both developed and developing.
In the last decade, oil and natural gas development have rapidly expanded in the United States,
fundamentally reshaping domestic energy production. It is abundant both within the United States
and around the world. Currently, natural gas provides 22% of the U. S. energy demands. It also ...
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As the number of companies using the high–volume hydraulic fracturing process has expanded, so
too has the scale of chemical activity. The long–term health and environmental effects of injecting
large volumes of small concentrations of chemicals at this scale are uncertain and hotly debated. For
years, American environmentalist groups have aimed their agenda against coal–fired generation
plants as the leading villains in the climate change battle. Their censure is well directed. More than
83% of greenhouse gas emissions (GHGs) are in the form of CO2 with no one producing more of it
than energy plants (Naff, 2014). At the same time, the Obama administration has declared an end to
U. S. support for coal–fired electricity projects abroad.
While the United States energy industry clearly still leads the way on the revolutionary drilling
method, the rest of the world is beginning to catch up as nations seek to replicate American success
in oil and natural gas development (Wolfgang, 2013). Taking the lead in Europe, Poland plans to
begin producing shale gas using hydraulic fracturing, commonly known as fracking, as soon as next
year, the country's treasury minister said recently. More than 100 exploration concessions to more
than two dozen companies have been awarded, and the Polish State Geological Institute estimates
that
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5. Investment In China Essay
China possesses relatively small amount of natural resources such as arable land, renewable water,
and metals. On the other hand, the African continent is resource–rich compared to its population.
Given the country's relatively scarcity, firms in China were inclined to expand into Africa in order to
find new supplies. Africa has been an attractive developing country for foreign investment. The
country's economic transformation had opened new business opportunities for investors. In this new
era, smart investors recognised Africa's potential. The country's main driver now are no longer
extractives, the continent is open for new investment to meet its increasing domestic demand. In
addition to the fast urbanisation in Africa, poor ... Show more content on Helpwriting.net ...
In the first decade of the 21st century, China's direct investment in Africa showed an average annual
growth of 46% (African Development Bank, 2010). In 2010, Chinese investment in Africa was
$2.11 billion, accounting for 3.1% of all China's foreign investment (See Figure 13). China's direct
investment in Africa has shown rapid growth throughout the years. In 2015, China accounted for
$35 billion of FDI stock, which is a sharp increase of $22 billion in 5 years' time (See Figure 14).
That year, China ranked 9th by capital investment and 7th in project numbers invested, created a
total of 14,127 jobs across Africa.
With reference to Figure 15, there was a general rising trend of Chinese investment in Africa's
transportation and metals sector between 2015 to 2016. In a year, investment in the transportation
sector had increased from approximately US$17 billion to US$20 billion whereas the metals
investment had rose from approximately US$5 billion to US$7 billion. Some of the transportation
project includes the construction of new inter–city railways that connect the African countries. This
helps to facilitate the movement of people and goods in the nation. Thus, reducing the travelling
time and boosting more trades.
Whereas at the country–level, although Chinese investments are mainly based on natural resources,
these investments also went into to services and manufacturing sector. About 60% of the projects are
in service sectors, with the remaining portion are
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9. What Are Barriers And Trade?
INTRODUCTION: What are barriers to trade? International trade barriers are restrictions put in
place by the government to prevent the inflow of international goods and services to the country.
These restrictions are placed by the government officials with the intent of protecting their economy
from the international competition; they include tariff and nontariff barriers. Some of the argument
for trade restrictions includes the following; It serves as a national defense from competitions to
foreign companies, it serves as a means to protect infant industry from imports until they have
enough capital to invest, it serves as a means to protect domestic jobs from cheap foreign labor, It
also serves as a means to permit diversification of the domestic economy and a way to improve
balance of trade (Ball, Geringer, Mcnett &Minor, 2012). Barriers to trade exist in developed and
underdeveloped countries; some of these countries include China, United States, Japan, Russia,
India, Latin America, European and African countries. Upon examining the barriers to trade which
exists in different continents of the world, specifically comparing the barriers in developed countries
to underdeveloped countries, there tends to be some similarities as well as differences. A closer look
at countries such as China and Nigeria denotes a clear picture of what would be considered a
developed and underdeveloped country. By reviewing the barriers that exists in both countries,
similarities and
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13. The Natural Gas Of Gas Essay
Natural gas liquefaction goes back to the 19th century when Michael Faraday, a British chemist and
physicist, experimented with liquefying different types of gases including natural gas. Liquefied
natural gas (LNG) is an odorless, colorless, non–toxic, non–corrosive and non–flammable form of
methane. "The first liquefied natural gas plant was built in West Virginia in 1912" (Dominion). The
LNG was first produced in Cleveland, Ohio, in 1939. In the 1950s and 1960s, the ocean–going trade
in international LNG began. In 1969, the first LNG terminal and commercial liquefaction facility in
the world in the United States began operations in Kenai, Alaska. The Kenai Peninsula LNG plant,
operated by ConocoPhillips, is one of the oldest and constantly operated LNG plants in the world. In
order for natural gas to be exported overseas, it must first be turned into liquefied natural gas,
attested and a safe process that requires the construction and operation of new facilities.
The US government has a deep history of regulating different aspects of natural gas, including LNG,
in interstate commerce. In 1938, Congress passed the Natural Gas Act, which granted the Federal
Power Commission (FPC) exclusive jurisdiction over the import and export of natural gas. The
federal government had been reorganized since 1938. To this day, the function of protecting the
"public interest" for natural gas imports and exports has been allocated between two federal entities
which are the FERC and DOE.
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17. Energy Scene : Global Warming, Reserve Depletion, Security...
ENERGY SCENE OVERVIEW
Oil and gas energies are considered nowadays the main drivers of the economic growth and
development in a global level. Oil consumption has witnessed an exponential growth since the
1900's, where it was first discovered. More efforts are targeted towards the optimization of the
exploration and refining operations in order to satisfy the continuously growing demand. The world
population estimates developed by the UN suggest that the world population will reach 9.1 billion
by 2050, representing a 40% increase from the 6.5 billion population estimated at 2005[1]. With the
growing population come the growing energy requirements for heating, transportation and
manufacturing of goods. To frame it in a better perspective, the oil and gas companies face the
challenge of meeting the needs of growing global population while respecting the environment and
sustainability standards.
Four main issues challenge the current energy scene: Global warming, reserve depletion, security
concerns and the rising energy prices.
Reserve depletion
The ultimate oil reserves, the amount that would have been produced when production is terminated,
are globally estimated at 2000 billion barrels [1]. The reserve depletion curve is different for each
country. The producing gulf countries such as Saudi Arabia, Iraq, Iran, Kuwait and United Arab
Emirates are positioned at an early stage of reserve depletion [1]. Other countries are either past the
1000 billion barrel midpoint such
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21. GAAP vs. IFRS comparison
GAAP/IFRS Financial Statement Comparison
Through this course we have been taking a closer look into the Generally Accepted Accounting
Principles (GAAP) and the International Financial Reporting Standards (IFRS). The book lays out
the major similarities and differences between the two separate but equal accounting methods. I say,
"Equal", in the sense that the IFRS and GAAP accounting methods are two different ways that the
any company that could come to the conclude the financial statements for any such accounting
period. The differences that have apparent between the two methods, GAAP is only used in
companies that have been started in the United States, whereas internationally IFRS has been
adopted by those prospected companies. ... Show more content on Helpwriting.net ...
As well as, the key assumptions and estimation of the material value adjustments to the carrying
amounts of the assets and liabilities. It can be easily seen that the accounts for both Exxon and BP
companies have many similarities. The accounts for both GAAP and IFRS have a tendency to be
similar, making it easy for the reader to compare the information that is laid out in the financial
statements. Other differences that we will see between the two different policies, when reviewing
the balance sheet, are the way in which the assets are listed are in the reverse manor on the balance
sheet. When following IRFS, the accounts are listed in the terms of liquidity at the bottom of assets.
Under IFRS, the information is presented with the most liquid account listed at the end of the assets
division. This dissimilarity will not make a massive impact on what investor's information on the
company that they are reviewing. The other differences that we will see when dealing with the
differences, the terminology is different under IFRS. The balance sheet is no longer stated as the
"Balance Sheet"; it is now referred to as the "Group Balance Sheet". This is not a major difference
between BP and Exxon, for example in other companies that follow IFRS, the balance sheet s called
the "Statement of Financial Position". This difference could make it increasingly difficult
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25. Santos: Leading Company Producers: Oil And Gas In Australia
SANTOS is one of the leading company producers oil and gas in Australia and the name Santos is
mean an acronym for South Australia Northern Territory Oil search. The business incorporated on
18 March 1954 and celebrated 60 years in 2014. In 1969 Santos had a commercially viable entered
into gas sales agreements with some company in Australia. Santos is supplying gas to all mainland
Australian and oil to domestic and international customers. The company's core business was build
on gas and oil discovered in the Cooper Basin. Santos is a partner and operator of natural gas
processing facilities in South Australia and Queensland. On 22 August 2014 the company
announced a major gas–condensate discovery at the Lasseter–1 also in WA–274–P in the ... Show
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Hony purchased Santos share on $5.70 per share which was a healthy premium of the trading in
Santos ahead of the deal and, more importantly, over a trading range subsequently battered by the 1–
1.7 rights issue. Through that time Santos share fall down to $2.46 a share after acquisitions between
Hony and Santos limited. The share price of Santos is turn back around $4 a share.
http://www.theage.com.au/business/energy/chinas–enn–group–to–buy–hony–capital–stake–in–
santos–for–us750m–20160323–gnpz4i (The Age) April 1 2016
Santos's new CEO Kevin Gallagher has revealed a new senior executive line–up and restructuring
that he says will lift productivity and improve value for shareholders, while flagging additional cost
cuts that could see more jobs go beyond the 825 lost last year. And now Mr Gallagher informed that
Santos limited is seeking to restore value of company while crude oil crashed in last 18 months.
Santos share has fall down 2.7 per cent to $3.92 per share and energy index is 2.1 per cent fall down.
The goal of executive team is establishing a new operating model for Santos which is focused on
both lifting productivity and driving long–term value for shareholders in a low oil price
environment. And the company will switch to new model in next few
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29. Petroleum And Natural Gas Exploration Essay
Executive Summary
April 20, 2010 was the beginning of the end for British Petroleum. BP was started in 1901 by
William Knox D'Arcy. Their mission is to operate oil and natural gas exploration, while marketing
and distributing all over the globe. The primary issues the company faces are rebuilding their
business after the tragic oil spill, their low oil prices and internal leadership promotions. Following
the 2010 oil spill, all of BP's top executives were fired, and the company has continued to promote
internally, as recent as February of 2016. The company has been trying to rebrand itself and fix its
disastrous public image that resulted from the poorly handled oil spill. Due to these internal
promotions, no new ideas have been introduced into the company and their efforts in recreating
themselves have since stalled, leading to unmotivated employees and decreased profits. Although
British Petroleum has solid production sites in Gulf of Mexico, Alaska, and various areas of the U.S,
the brand's name remains so tainted from past violations. The declining price of oil, along with that
environmental factors that affect the company, both nationally and globally, have exacerbated this
stall and caused the company a major issue in recovering their public image, reputation, brand name,
stock prices, and overall prosperity. These factors have certainly not been beneficial to the company
in recovering from the sixty–one billion dollars BP has had to pay as result of
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33. Gasoline Prices Are Many With Good Reason
We all complain about the $4 gasoline prices –– many with good reason. Anyone who works 50
miles from home and gets 20 miles per gallon is using 5 gallons a day, or $20 just for their
commute. That means they are spending $100 per week (not tax deductible) just to earn a living for
their family. Across the nation, the average person uses at least 400 gallons of gasoline per year, or
about 8,000 miles on an average car. At $4 per gallon, that is a hefty $133 per month for each family
vehicle to run the errands that are part of each family 's life. Now that amount per month perhaps
could be swallowed (remember that at $2 per gallon it was costing $67 per month per vehicle), but
there are larger issues to consider. Electricity for our home is produced by generators powered by
either coal or gasoline prod. Groceries are brought to their retail destination by trucks using gasoline
or diesel fuel. The U.S. Bureau of Labor Statistics found that at the start of 2002, the average
household spent $59 a week for food, and $25 for gas. As of May 2008, that same household spends
$72 a week for food (up 22%) and $83 for gas (up 232%). That translates to nearly $4300 per year
for gas alone (up from roughly $2,000 in January 2006). Gone are the days of cheap gas prices. For
a detailed explanation of the oil price increases, see:
http://en.wikipedia.org/wiki/Oil_price_increases_of_2004–2006 Can the government do anything?
Before we start discussing that issue, let 's
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37. Russia International Influence
Russia and the United States have a rather intertwined history before the fall of the Soviet Union
and subsequent years after, even until today. The Cold War was an intense period of interaction
between the two countries that has framed much of history, political theory and of course their own
relationship. They are both large, powerful countries, two super powers with rivaling ideals and an
eventful history
Domestic/International Influences:
Russia is the largest country in the world. It borders two oceans, spans two continents, and its
landscapes range from Arctic tundra to subtropical beaches. Much of that land is undeveloped and
uninhabited. Russia's borders encompass twice the surface area of the United States, but has a third
of the population. Natural gas and oil are abundant in Russia because of its sheer size and the variety
of climates. West Siberia is Russia's main oil–producing region and has several large oil fields, one
of which has been producing since 1969 (EIA). West Siberia's population is mainly concentrated
into a couple cities, leaving much of the land untouched. This is the prime ... Show more content on
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Trump's close ties with Russia have been unsettling to many and Putin's announcement of a
willingness to reconcile after Trump's election even more so. Before Trump's apparent friendship
with President Vladimir Putin, American leaders have usually been standoffish toward Russian
leaders. The tensions of the Cold War were never resolved, simply placed on the back burner when
the Soviet Union fell, which left a lot of loose ties and unsaid words between the two countries. It is
possible that Trump could secure a new alliance with Russia and Putin, but history has proven this
task might be a tough process– while our leaders may be close, people from both countries have
reservations, vividly remembering the Cold War and the terror at the possibility of annihilation at
the hands of a country across the
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41. British Petroleum
Social Performance of Organizations
Tawana D. Goode
February 4, 2015
Week 4 Assignment 1
Professor Richard Carrol
BUS 475
Business and Society
Introduction The Anglo–Persian Oil Company which is now known as British Petroleum (BP) was
founded in 1909 and is one of the world's leading international gas and oil companies. The
multinational British company's headquarters is located in London, United Kingdom and is one of
the five largest oil companies in the world. The pioneer of the Middle Eastern oil industry, BP
discovered oil in Iran before World War I and eventually became involved in all aspects of the oil
industry, from exploration to marketing. Offering an array of services that expand from providing
fuel for ... Show more content on Helpwriting.net ...
(Corporate Social Responsibility, 2007) In an article by Jennifer Dlouhy said:
After the 2010 oil spill that killed 11 workers and sent more than 4 million barrels of crude gushing
into the Gulf of Mexico, BP had to pare its portfolio around the globe and sell off $43 billion in
assets, including refineries, pipelines and producing wells. In the process, the London–based firm
became a leaner company, with a slimmed–down portfolio that makes it better prepared to weather a
bear oil market than some competitors just beginning similar cost–cutting. (Dlouhy, 2014)
Suggest five (5) ways in which the primary stakeholders can influences the organization's financial
performance. Provide support for the response. BP's stakeholders are the many individuals and
organizations who are affected in some way of this company's activities. It may come in the role as
an energy provider, an employer, or as a company that generates revenues and helps to boost local
economies. A report by Ernst & Young on sustainability with BP stakeholder's states:
Shareholders and analysts – We engage with shareholders and analysts through our annual general
meeting and other events. We communicate via roadshows, webcasts and one–to–one meetings. In

42. 2013, this included a presentation on BP Energy Outlook, an upstream exploration day and briefings
on oil sands and our progress against
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46. Bp Oil Spill : Business Law
MISERICORDIA UNIVERSITY BP Oil Spill Business Law Evans, Rebecca 10/23/2015 This paper
includes information regarding the BP Oil spill. References are listed at the bottom. Currently
headquartered in London, BP is one of the largest producers of both oil and natural gas. BP provides
its customers with fuel for transportation and energy for heat and light. BP's core business is gas
exploration and production division and their main sources of production include Angola, Argentina,
Australia, Azerbaijan, Egypt, Trinidad, the United Arab Emirates, the United Kingdom and the
United States (BP PLC (BP) Company Profile | Reuters.com. (n.d.). Retrieved October 27, 2015.).
In 2013, BP produced 628,000 barrels of oil each day in the US and was the sixth largest producer
of natural gas. Each day, BP sells 50 million gallons of fuel in the US consisting of 7,500 BP
branded locations located in 13 states. BP is always seeking new opportunities for advancement in
technology so that their operation is safer and more efficient. The company is leading the way in in
the energy industry with the world's largest supercomputer used for commercial research, located in
Houston and also the first to use drones in the United States. To further place themselves ahead in
the industry, BP has invested over $160 million in 2 dozen companies for advancements in
technology. BP currently has 17,000 employees and on average, donates approximately $30 million
each year to community
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50. MW corp Essay
Draft
MW Petroleum Corporation (A)
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,
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54. Shale Gas : An Exploration Depth Analysis
Shale Gas: An In Depth Analysis
TEJERA, STEPHANIE
EVR3010
2077687
Top to bottom: One of the many plants in existence extracting shale oil, and the other of the shale
reserves in the United States presented in a map, and are from www.metallirari.com and
www.fracfocus.org.
Index of Contents
Title page.................................................................................................1
Index of Contents.......................................................................................2
Introduction..............................................................................................3
Synopsis...................................................................................................4
Causes of Environmental Effects................................................................5 – 6
Occurrence................................................................................................7
Social and Economic Impacts.........................................................................8
Personal Suggestions for Preservation and Recovery of the Environment..................9 ... Show more
content on Helpwriting.net ...
It is the same drilling we have done over the course of history and still to this date that has affected
the environment. Petroleum and natural gas have been used for over 5000 years, in all parts of the
world, and currently its use is steadily growing, causing new effects on our planet. Although there is
an abundant amount of oil and gas within the core of our planet beneath major sources of water,
eventually they will become scarce and overused, causing us to search for other means in other
geographical territories, including on land. The more we discover about these sources of energy the
better we understand them and eventually the more efficient we can be at conserving them (Estefani,
2013).

55. As aforementioned, throughout history there have been many sources of fuel that have propelled
man. Instead of choosing one and eventually letting it run its course after excessive use, we have
exhausted all efforts trying to find other sources for use to help power the busy lives of our race.
One such natural gas is shale oil. Shale gas is actually the refined version of shale oil. Shale oil, or
marlstone, forms from the deposits of macrobiotic matter mixing with the sedimentary materials on
the foundation of lakes at depths of about 3000 feet over a period of millions of years. Along with
the plants and animals that die off and fall to the
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59. Hess
The Hess Corporation is a leading pioneer in the energy industry sector, which conducts Marketing
and Refining (M&R) as well as Exploration and Production (E&P) operations in 23
countries. They have a concentrated focus in the exploration, production, purchase, transportation,
and sale of crude oil and natural gas as well as markets refined petroleum products, natural gas, and
electricity. This company owns thousands of Hess gas stations, which include small convenience
stores or Dunkin Donuts stores, throughout the East Coast of the United States to hundreds of
thousands of acres of land in the North Dakota Bakken oil shale play. Internationally, Hess
Corporation owns many other hundreds of thousands of acres in land where they ... Show more
content on Helpwriting.net ...
According to fastcoexist.com, Bloomberg finance reports are ranking and keeping an eye on the
most innovative and groundbreaking organizations of the United States making concerned efforts
adapting to climate change within their respective markets. The rankings follow how hundreds of
organizations with more than $1 billion in assets are mitigating climate change related risks,
managing carbon emissions, and creating clean–tech solutions, and new products. Exxon Mobil and
Hess Corporation are a part of the rankings, which offer investors a view at how responsible these
and other organizations are in regard to the above and the effects that the climate has on them.
Equally reviewed is how proactive are these organizations in regard to creating opportunities, which
generate larger profits. The concept of the ratings, is that it will evaluate the previous items
mentioned above, place the information on the Bloomberg financial reports and help bring in
additional investments.
Recent ranking reports accuse Exxon Mobile of backing groups that deny, or complicate, climate
science, and of failing to support efforts to present new climate rulings and law. Meanwhile, Hess
Corporation received higher rankings because of what they have done in adaptation,
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63. Case Study Of Centrica
Rationale Behind Choosing Centrica PLC
Centrica PLC ("Centrica" or "Company") is a multidimensional energy conglomerate based in the
United Kingdom ("UK") and is listed on the London Stock Exchange whilst also being a component
of the FTSE 100 index. At it's core, Centrica is engaged in the generation of electricity, exploration
and production of natural gas, provision of household services and supplies electricity and gas to
end users (Private and Commercial) in North America and Europe. For these reasons, I have
identified it as the subject company of this assessment
Centrica Operating Model
From my research, Centrica's operating model is diverse as the company seeks to maximize profits
by operating across all segments of the energy value ... Show more content on Helpwriting.net ...
British Gas – This is the foremost supplier of gas and electricity in the UK and is responsible for
providing energy to over 10 million private British consumers as well as over 800,000 businesses in
the UK. British Gas through a subsidiary, British Gas Services, also provides installation Services
and maintenance of heating and cooling systems whilst also helping customers with advice and
products to enable the efficient consumption of energy.
b. Centrica Energy – Considered to be the leader in gas production in the UK whilst also having a
presence in Norway, The Netherlands and North America. Centrica energy also owns and manages
gas–fired power stations, own interests in UK nuclear power stations as well as offshore wind farms
c. Centrica Storage – With ownership of over 70% of the UK's gas storage facility, Centrica Storage
is viewed as the largest. Services include provision of storage infrastructure for traders and other
utility provides. Other services include gas processing and subsequent distribution.
d. Newfield Exploration UK – Acquired by Centrica PLC in October 5, 2007, as a strategic initiative
to gain access as well as increase ownership of natural gas reserves in the UK. According to
Centrica, this acquisition would add net gas reserves of 300 billion cubic feet over the next three
years which at present, is equivalent to a fifth of Centrica's current UK gas
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67. Essay about OPEC Presentation
Overview of OPEC
Is a permanent, intergovernmental Organization, created at the Baghdad Conference on
September, 1960.
Founder Members:
Later joined Members
Iran
Iraq
Kuwait
Saudi Arabia
Venezuela
Qatar (1961)
Indonesia (1962) – suspended membership 01/2009
Libya (1962)
United Arab Emirates (1967)
Algeria (1969)
Nigeria (1971)
Ecuador (1973) – suspended membership 1992–2007
Angola (2007)
Gabon (1975–1994)
Objectives of Opec
OPEC's objective is to co–ordinate and unify petroleum policies among
Member Countries in order to secure fair and stable prices for petroleum producers; an efficient,
economic and regular supply of petroleum to consuming nations; and a fair return on capital to those
investing in the industry. ... Show more content on Helpwriting.net ...
In response OPEC introducing a group production ceiling divided among Member
Countries and a Reference Basket for pricing, as well as dialogue and cooperation between non–
OPEC countries
State–owned oil companies in emerging–market economies experienced a boom on this years by
providing the oil gap cause for the OPEC embargo to those countries in need of the hydrocarbon.

68. The 1990's and Nowadays
1990's was marked by excessive volatility and general price weakness dominated the decade, lead
by the Middle East disputes between Iraq, Iran and Kuwait
However, a solid recovery followed by a more integrated oil market, which was adjusting to greater
globalization, communications revolution and other high–tech trends.
Ten years after, another war took place between USA and
Iraq which prompted a sharp rise in oil prices to levels far higher than those targeted by OPEC
themselves.
This increase was boosted even more as OPEC members spoke openly about converting their cash
reserves to the euro and away from the US dollar and by the disputes between OPEC members
concerning the production quotas .
OPEC Role in Economics
OPEC is a swing producer, and its decisions have had considerable influence on international oil
prices.
Although they called for stable and just commodity prices, an international food and agriculture
program, technology transfer, and the democratization of the economic system the evidence
suggests that OPEC did act as a cartel when it adopted output
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72. Current Sources Of The State Of Indonesia
In Indonesia, petroleum is one of the main sources of the state revenues. It is also a very important
strategic commodity and often as political issue. The revenues from oil and gas have driven the
economic growth and contributed significantly for the development of Indonesia. In the world,
legislations which regulate oil and gas are varies from country to country. In spite of many
variations, in general, the upstream oil and gas activities, based on two systems, the production–
sharing contracts and the licensing systems. Indonesia was the country that introduced the concept
of production–sharing contracts in 1966 (Bindemann, 1999).
After the verdict of Indonesian Constitutional Court in 2012 on The Oil and Gas Law, some of the
articles were unconstitutional and not legally binding. As a result, the government and the
parliament want to revise the oil and gas law and led to the ideas of replacing the production–
sharing contract with the licensing system. Nevertheless, before Indonesia adopts the new system,
many aspects should be considered in designing legislations. Some of the aspects are the concept of
natural resources ownership, revenues for the state, and attractiveness for the investors.
Mean while, as the owner of natural resources, the government has the rights to control and regulate
petroleum resources. The government would also have to balance its demand for maximizing the
revenues from oil and gas and adverse effect on investment climate. Thus, it should be
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76. Competitive Business Environment For Corporate Finance World
1. Introduction
Many reasons such as globalization, technical developments, changing political relations between
countries and liberalization cause a compelling and competitive business environment for the
companies. This pressure to remain standing in corporate finance world makes companies to be in
quest of rapidly effective ways to gain strenght and expand their business activities. At this point,
Mergers and Acquisitions, which are two of the essential activities in capital markets to restructe a
corporation or business activities and to achieve economic growth and reinforcement, can be
counted as two of the mainstream activities of the today 's business world because of its advantages
and immediate effects.
Merger simply can be defined as the combination of two or more similar size business entities into
one company. Generally, the main aim of the mergers, which are basically a corporate strategy, are
acquiring market share with the way of restructing companies to meet requirements in global
competition. Prevalent objectives of the Mergers can be mainly counted as improvement of the
profit, eliminating competition, utilization of existing resources and reducing tax burdens. However,
it should be considered that, merger is a strategic tool for companies to reach their business
objectives. Thus, reasonings of the mergers can very from business sector to companies ' priorities.
At this Juncture, we would like to analyze the merger of Royal Dutch Petroleum Company
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80. Accounting, Accountability And Governance Practices Of...
This thesis sets out to examine the accounting, accountability and governance practices of the
Nigerian Content Development and Monitoring Board (hereafter, NCDMB) and the International
Oil and Gas Companies (hereafter, IOCs) in the implementation of, and compliance with, local
content sustainability rules in petroleum contracts in Nigeria. The aim is to apply an accountability–
based conceptual framework of accounting to address three major accountability issues within the
context of the broader natural resource governance practices. Firstly, to critically establish, within
the context of the Nigerian oil and gas industry, the relationship between local content and the three
tenets of sustainability (social, economic and environmental), the issue that has received relatively
little attention from scholars. Secondly, to evaluate the extent of the NCDMB's accountability by
assessing its ability to enforce compliance with the local content sustainability rules as provided by
the law. Finally, to investigate the extent of accountability of the IOCs operating in Nigeria by their
ability to comply with and align between the mandatory and the voluntary local content reporting
practices in their attempt to support sustainability through oil and gas contracts.
Historically, the Nigerian oil and gas sector like that of many other developing countries, has been
dominated by the powerful IOCs resulting into a massive outflow of resources for the payment of
training and procurement
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84. Study of the Saudi Aramco Value Chain
Study of the Saudi Aramco Value Chain Study of the Saudi Aramco Value Chain October 2010
Company overview: The Saudi Arabian Oil Company (Saudi Aramco) is a government–owned
entity (since 1988 fully government–owned) and the world's largest oil company in terms of output
and managed natural crude oil resources. The company specializes in the exploration, production
and distribution of crude oil, petrochemicals and natural gas. Saudi Aramco was established 1933
when Saudi Arabia signed a concession agreement with Standard Oil of California to explore for oil
in the country. The group has more than 55,000 employees, circa 500 of which are Canadians. The
company is headquartered in Dhahran. Plants are established in Abqiq (near Jeddah), ... Show more
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Saudi Aramco's sales and marketing activities are handled by three departments: crude, product and
logistics. These are responsible for global export sales of crude oil, refined products, NGL and
sulfur, as well as import of refined products to meet possible shortfalls in the domestic market. The
sales and marketing headquarters are located in Dhahran; through subsidiaries, the company has 3
Study of the Saudi Aramco Value Chain established offices around the world. The Asian region is
a focal point of Aramco's international business, being the No.1 supplier of crude oil to China,
Japan, Korea and Japan. Market information: Saudi Arabia is the world's largest producer and
exporter of petroleum liquids and the second largest producer of crude oil behind Russia. As Saudi
Aramco is wholly responsible for the oil production in the country the company has a market share
of 100%. Saudi Aramco not only controls the oil production but also the refining market in Saudi
Arabia. In the refining business, however, Saudi Aramco also maintains Joint Ventures with other
international companies (see above). Saudi Aramco markets its products internationally (largest
importer to the US), but also distributes oil and gas domestically, supplying 100% of the local
market, local demand was at 2.4 million bpd in 2009. Saudi Aramco is supplying all of its domestic
refineries crude oil needs and most of its international ones. Table 6: Estimated worldwide crude oil
(in billion
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88. Exploring Oil
Saudi Arabian oil company
Introduction
Saudi Arabian oil company is multinational company today is called Saudi Aramco. It is the largest
oil corporation in the world with the largest proven crude oil reserves. The company is located in
Eastern reign of Saudi Arabia. Exploration, production, refining, distribution, shipping and
marketing are operates by the company. Saudi Aramco published in 1933 when the government of
Saudi Arabia allowed for American company called Casco to drill about oil in Eastern reign of Saudi
Arabia. In 1980 the Saudi Arabian government acquired full control of Saudi Aramco. The company
has reported that oil reserves of about 260 billion barrels it has acquired. Also, it owns 263 trillion
cu. ft. of natural ... Show more content on Helpwriting.net ...
There are a lot of aspects can be affected to the company 's business and make its business strong.
Firstly, when we look to the requirement of the current era like equipments of transportation such as
cars, buses, trains, ships and planes those needs fuel to work so the fuel supplied by Saudi Aramco.
A lot of goods can be produced using hydrocarbons as rubber, plastic, medicines and creams.
Hydrocarbons are the function of the company. Also petroleum productions as well as gas uses are
supplied by the company. Hence, those aspects support the company to look forward within its
businesses. In other word, we can say the world is relying on such as these businesses or companies.
Even though, another aspect is the largest reserve of oil in the world is acquired to Saudi Aramco. In
addition of pillars, the company is owned for the government of Saudi Arabia. Also, the employee's
of the company have top level of motivation. Also, the employee's are dedication and they are
working by their heart to appreciate their company.
Weakness
Weaknesses might be seen in any kind of businesses and sometimes weaknesses are likely to
become strengths when overcome them. Saudi Aramco has some weaknesses in its businesses such
as sour (high–sulphur). The company produces many different type of crude oil and then categorize
them to different category depends with how much dose the crude oil have of sour sulphur. If it is
become high level of sulphur it will
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92. 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),,
 People: Respect the diversity of people as well as nourish them. Develop a committed workforce.
 Pride: Take pride in what the company does, support excellence and commit to safety, quality and
environmental standards.
 Professionalism: Business is conducted with ethical and moral values, as well as in a responsible
and accountable manner.
 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
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96. Case Study Of The Royal Dutch Petroleum Company
Case Study
Background
In 1907, the Royal Dutch Petroleum Company of the Netherlands and the "Shell" Transport and
Trading Company of the United Kingdom were mergered and became Shell Company ("The
Beginnings"shell.com, 2015). Before the merger of the two companies, the Royal Dutch Petroleum
Company was a Holland Corporation, founded in 1890, and mainly engaged in oil field
development. The "shell" transportation and trading company is a British company was founded in
1897 by Marcus Samuel, in 1833 "shell" expanded import and sale of sea–shells (Forsyth, 2011). At
the beginning, one of them in Hague was responsible for manufacture and production, while another
one in London was responsible for the transportation and storage of products. Then, in the World
War I, Shell made many contributions. It was the fuel supplier of the British army and the sole
supplier of aviation fuel ("The early 20th century" shell.com, 2015). Since 2005, Shell has officially
united and become a dual listed company, now their business as many as 70 countries. Right now,
Royal Dutch Shell is the world's sixth largest oil and gas company. ("Shell at a glance". Royal Dutch
Shell plc., 2010)
Strengths
There are two important strengths which give Shell more advantages than other big oil companies.
First, Shell has a diversified geographical location. Shell is a multinational enterprise. Therefore，
the regional diversification can helps Shell mitigate the risks of over reliance on a particular market.
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100. Oil Drilling Regulations : British Petroleum
Oil Drilling Regulations British Petroleum(BP) had a massive oil spill on April 20, 2010. In the BP
Oil Spill, more than 200 million gallons of oil was spilled into the Gulf of Mexico for a total of
eightyseven days, making it the biggest oil spill in United States history. The initial oil rig explosion
killed eleven people and injured seventeen others("11 Facts"). The spill killed hundreds of animal,
plant life and destroyed the environment. BP was penalized up to $40 billion in fines. Stricter
regulation on all forms of oil drilling are necessary to protect everyone and everything involved,
especially the environment. When drilling for oils, companies need to have regulations and one of
those requirements is for environmental protection. This is a requirement that conducts operations in
a way, that protects mineral resources, other natural resources. The companies need to be paying
attention to the environment and what is affecting the environment. The companies have to inspect
the land and determine what material is being drilled. (University of Colorado). The regulation
issuance of leases gives terms and conditions that the Bureau of Land Management (BLM) can grant
leases. The issuance of an oil lease must be done under oath by an applicant, agent, attorney, or an
officer or agent of the company, if the lease is made by a company. That way they are not drilling
illegally. For the onshore oil and gas order approval of operations the companies need requirements
for
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104. Piper Alpha Case Studies
Abstract
This research report is about the Piper Alpha Disaster that happened in 1988. Being one of the major
oil production oil–rig in the UK, the accident that took place more than 20 years ago caught the
attention of many, especially those in the field. The happening was largely due to the complacency
of the supervisors as well as the safety measures of the management. Using the internet, academic
journals and textbooks available, the research was conducted by referring to various sources of
information regarding the incident. After the explosion there are many new prevention steps taken in
this field of industry as well as new managing system of the offshore regulatory control.
1. Introduction
1.1 Background
The Piper Alpha ... Show more content on Helpwriting.net ...
The offshore oil and gas was a very new industry introduced to the United Kingdom very briefly 30
years ago. The naïve government was seduced by the very promising reward of the industry,
knowing that it'll be high risk. The management disregarded adherence to certain safety rules. There
were regulations, but enforcement was not there. The nation and corporate pride rendered everything
in disaster.
2.1.2 Structure and Function
A large fixed platform, Piper Alpha was situated on the Piper oilfield, approximately 120 miles (193
km) northeast of Aberdeen in 474 feet (144 m) of water, and comprised four modules separated by
firewalls. The platform was constructed by McDermott Engineering at Ardersier and UIE at
Cherbourg, with the sections united at Ardersier before tow out during 1975, with production
commencing in late 1976 (Drysdale & Slyvester–Evans, 1998). The west and east elevation of
the topsides of the Piper Alpha platform are as shown in figures 2 and 3. Module A, the wellhead
module was considered to be the most hazardous were arranged so to provide a maximum
separation with module D, which contain various utilities and also the accommodation deck above.
Module comprises of 36 wellhead which is used to control the flow of hydrocarbons and water from
the well.
Module B is the production where separation of oil and other fluids took place. From there, the oil
will also be
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108. Mw Petroleum-Case Solution 2 Essay
MW corp
By michael_manly | Studymode.com
Draft
MW Petroleum Corporation (A)
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
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112. Bp 7s Analysis
BP plc[3][4] (LSE: BP, NYSE: BP) is a British multinational oil and gas company headquartered in
London, United Kingdom. It is the third–largest energy company and fourth–largest company in the
world measured by 2011 revenues and is one of the six oil and gas "supermajors".[5][6] It is
vertically integrated and operates in all areas of the oil and gas industry, including exploration and
production,refining, distribution and marketing, petrochemicals, power generation and trading. It
also has renewable energy activities in biofuelsand wind power.
BP has operations in over 80 countries, produces around 3.4 million barrels of oil equivalent per day
and has around 21,800 service stations worldwide.[7][8] Its largest division is BP America, ... Show
more content on Helpwriting.net ...
But the company "Iraq Petroleum Company" still remains extant as a name on paper,[37] and one of
its associated company–Abu Dhabi Petroleum Company(ADPC), formerly Petroleum Development
(Trucial Coast) Ltd–also continues with the original shareholding intact.[38][39]
The intensified power struggle between oil companies and host governments in Middle East, along
with the oil price shocks that followed the 1973 oil crisis; meant British Petroleum lost most of its
direct access to crude oil supplies produced in countries that belonged to the Organization of
Petroleum Exporting Countries (OPEC), and prompted it to diversify its operations beyond the
heavily Middle East dependent oil production. In 1978 the company acquired a controlling interest
in Standard Oil of Ohio or Sohio, a breakaway entity from former Standard Oil following the anti–
trust litigation of 1911.[40] In Iran, British Petroleum continued to operate until the Islamic
Revolution in 1979. The new regime of Ayatollah Khomeini confiscated all of the company's assets
in Iran without compensation, bringing to an end its 70–year presence in Iran.[citation needed]
1979 to 2000
Classic shield logo, designed byRaymond Loewy, updated in 1989, and used until
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116. Essay about BPAmoco
BP Amoco
British Petrochemical Corporation registered on April 14, 1909, as the Anglo–Persian Oil Company,
Ltd. It was named the Anglo–Iranian Oil Company, Ltd., in 1935 and changed its name to the
British Petroleum Company Limited in 1954. The current name was adopted in 1982. The
company's headquarters are in London. The Anglo–Persian Oil Company was formed in 1909 to
take over and finance an oil–field concession granted in 1901 by the Iranian government to an
English investor, William Knox D'Arcy. (Britannica) In 1914 the British government became the
company's principal stockholder and over the years was usually the largest single stockholder.
Effective January 1, 1955, British Petroleum became a holding company. In the ... Show more
content on Helpwriting.net ...
Both companies agreed to intend to close the transaction shortly after 2100 hours London time on
December 31, 1998, when Amoco's stock will leave the Standard & Poor 500 and the shares of the
merged group, BP Amoco p.l.c., will be listed on the London Stock Exchange. With a market
capitalization of more than $140 billion, BP Amoco p.l.c. is the Britain's biggest company and one
of the world's top three oil majors.
"We aim to play a leading role in meeting the world's needs for oil, gas, solar power and
petrochemicals without damaging the environment."
BP AMOCO'S WORLD The BP Amoco group stands out as a complete provider of energy and
petrochemicals. Every day they serve millions of customers with products to the quality of their
lives – fuel for transport, energy for heat and light, solar power, and petrochemicals for plastics,
fibres and fabrics. Explorers from Amoco and BP have led the way in finding the world's giant oil
and gas fields and getting energy to the world's marketplace. According to Larry Fuller and Peter
Sutherland, co–chairmen, the meeting the demand of energy calls for a blend of outstanding human
and technical skills, sophisticated global organization and two–way relationships with local
communities, customers, contractors, partners, government and employees. BP Amoco's aim is to be
successful in everything they do by
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120. Essay about United Kingdom
ondon is the capital of the United Kingdom. It ranks as one of the world?s most historic cities,
tracing its roots back nearly 2000 years. London has long been a great world port and trading center.
The port of London consists of two huge docks and 43 miles of wharves along the Thames River.
London also has a remarkable transportation system. Expressways, and underground and surface
railways carry more than one million commuters between the outlying areas and central London
each workday. More than 350,000 commuters travel by subway, about 400,000 take surface trains
and more than 100,000 go by bus. About 100,000 people drive their cars to work. The London
subway system (the ?tube?), is the largest subway system in the world. It includes ... Show more
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The relations between these two countries were strengthened by the UK?s alliance with the United
States during both World Wars, the Korean conflict and the Persian Gulf War. The United Kingdom
and the United States regularly consult on foreign policy issues and global problems. The United
Kingdom is surrounded by the Atlantic Ocean, therefore its location is ideal for ship transportation.
Shipping is an inexpensive and fairly efficient method of transportation; however, the United
Kingdom also has a large number of airports and railways (see transportation). The United Kingdom
is also located close to France and Belgium, which are two of its main trading partners, resulting in
inexpensive transportation of goods.
he UK has an exceptionally well organized system of government. The United Kingdom is a
constitutional monarchy. Queen Elizabeth II is the head of state; however, a cabinet of senior
politicians, known as ministers governs the country. The prime minister (Tony Blair, elected May
2,1997) is the head of the government. Parliament is the chief lawmaking body. It consists of the
monarch, the House of Lords and the House of Commons. he United Kingdom is said to have an
unwritten constitution as it is not all jotted down on one document. Some of it?s written parts are
laws passed by Parliament, others come from historic documents (Magna Carta), and common law.
The unwritten part contains ideas and practices that British society has developed
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124. Hydraulic Fracking : The Oil Industry
Hydraulic Fracturing The oil industry in the United States is booming. However, not all oil or
natural gasses are available by drilling. There are some oils and gasses trapped inside shale rock. To
access these gases, a process called Hydraulic Fracturing, informally known as fracking, was
invented. Hydraulic Fracking "is a controversial oil and gas extraction technique developed in the
late 1940s to gain access to fossil energy deposits previously inaccessible to drilling operations. The
process...literally involves the smashing of rock with millions of gallons of water– along with sand
and an undisclosed assortment of chemicals in order to bring gas to the surface. (serc–
carelton.edu)." This process combines water, sand, and chemicals ... Show more content on
Helpwriting.net ...
Hydraulic Fracturing allows for the United States to gain energy independence. Much in thanks to
shale oil and gas, the US has been able to rely less heavily on foreign oil. Extracting oil for the
United States in the U.S., allows for cheaper gas prices. By gaining energy independence, the
country "spends far less on cheaper, domestically, generated power, [and] the money would go
primarily to US–owned energy producers (BBC.org)." Energy independence, in addition to
benefiting the economy, would help the United States out politically. The country has rocky
relations with many of the Middle Eastern countries that produce a large amount of energy
resources. Independence would help to sever some of these ties. In an article from Forbes Magazine
the author speculated that, " The Unites States will soon be the world's largest oil producer, thanks to
innovative new extraction technologies [such as fracking] that have revitalized previously dormant
wells and also led to a shale gas and oil boom that has galvanized into action a series of once sleepy
communities across the upper Great Plains, Texas and beyond. Given such resources, we no longer
have to fund our enemies (Forbes.com)." Although economically fracking is a positive thing, there
are many disadvantages to the process. Some of these disadvantaged to Hydraulic Fracturing are
water contamination, methane and air pollution, and
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128. Fracking, The And Of Fracking
In recent years, the subject of hydraulic fracturing, better known as fracking has been a constant
subject of interest in the news media. The pros and cons of fracking are passionately debated.
However, the public should become educated on the subject of fracking prior to choosing a side of
the argument. In the scholarly article, "Super Fracking," published in 2014, by Donald L. Trucotte,
Eldridge M. Moores, and John B. Rundle, a detailed description of fracking is provided, followed by
their analysis of current issues surrounding the controversy. According to Trucotte, Moores, and
Rundle, fracking saves the consumer money. The wellhead cost to produce natural gas in January of
2000 was two dollars and sixty cents per one thousand cubic feet. At an alarming rate, the cost at the
wellhead to produce natural gas had risen to eight dollars per one thousand cubic feet by January of
2006. Comfortingly, the wellhead cost dropped to two dollars and eighty–nine cents by the end of
2012. Impressively, gas production increase and price decrease over the time period are a result of
fracking. In their article, Trucotte, Moores, and Rundle describe in great detail that hydraulic
fracturing, most commonly referred to as fracking is the process of drilling down into the earth to
fracture the layers of rock so that a high–pressure water mixture is directed at the rock to release the
oil or natural gas inside. This method of fracking has been used commercially for the last fifty years.
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132. Fracking: Hydraulic Fracturing
Did you know that at one point, the United States (U.S.) had a fear that they would run out of
natural gas? Roughly a decade ago, government officials and industry analysts predicted that the
U.S. would have a shortage in natural gas, the main source of energy in the states. Hydraulic
fracturing, or fracking, would shortly be the answer to the problem. Hydraulic fracturing was
developed sixty years ago by George P. Mitchell, who combined hydraulic fracturing and horizontal
drilling as a process to extract natural gas from within the ground. Fracking is the process of
pumping millions of gallons of chemically treated water, sand, and various chemicals into deep
shale formations at pressures of nine thousand pounds per square inch or more. ... Show more
content on Helpwriting.net ...
There have been several things that have contributed to the problem with fracking. One major
contribution to the problems associated with fracking is the lack of regulation on restrictions and
procedures that are to be taken when oil and gas extraction companies go to extract gas from the
ground. Without regulations, there are no right, wrong, or safe way to perform the extraction process
and the chances of causing harm and damage to the people and environment are almost
guaranteed.Another contribution to the problem of hydraulic fracturing is endless amount of
chemicals that are used at every single well site. There are several fracking sites in one area so the
abundance of chemicals is extremely high and therefore the harm caused by the chemicals have
greater effect on the people located around the fracking sites.The heavy vibration of the machines
have been associated with the random earth tremors that have occurred in the United Kingdom. With
these negative side effects of fracking, which affect the people and the environment in a terrible
way, there are people who benefit from this. One set of people who benefit directly from the
extraction process is the oil and gas industry workers. These industries perform the extraction of the
gas; this provides them a source of income. Other than the industry workers, we the people, the
consumers of energy, are also benefitting from the extraction of shale. We use the natural gas
extracted to power our houses, heat our houses, and to power our stoves so our houses are heated.
Fracking will continue
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136. Strategic Management of Uk Oil and Gas Industry
STRATEGIC MANAGEMENT OF ANALYSIS OF UK OIL AND GAS SECTOR 1.0
INTRODUCTION 1.1 UK OIL SECTOR OVERVIEW The oil and gas industry is a large Industry
and contributes a critical role in driving the global economy (Sam's et. al., 2006).The upstream
section of the Industry is involved with the first stage of exploration and production, the midstream
section involves the transportation of crude through pipelines, ships e.t.c to the refineries. The
downstream is involved with refining and process of the oil and gas products. The distribution and
marketing of crude is then done for end user consumption. For purpose of this report the analysis
shall be on oil and gas operations with emphasis in the United Kingdom. According to (Oil and gas
UK, ... Show more content on Helpwriting.net ...
Figure 3 shows a projection in the volume of oil and gas that would be produced between 2008 and
2015, provided there is sustainable investments made. Figure 1: Oil and gas Production. Source: Oil
and Gas UK Activity. 2.4 Imports/exports and import dependency: The oil industry in the UK has
being highly dependent on importation of crude oil since 2005 according to (EIA, 2010) reports. The
industry produces refined products that are in excess of the consumers demand and making it a net
exporter when it comes to refined oil, this however lead the country to account for about 12% of the
net importation from crude oil in 2009. With the huge capacity of refining capability the Industry
could be to a large degree a net importer, in coming years the increase in want of aviation fuel and
diesel fuel could lead to an increase in the refinery output and with the continuous decline of crude
production in the country, Uk is faced with coming up with decisions and strategies of ways of
solving the increasing demands of the above products and deciding on how much it would need to
alter its refinery capability to deliver the products and the degree of import dependency it would
need. Figure shows the exports and imports of crude by region with Western Europe having the
highest values.
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140. Why The Price Of Crude Oil
This essay will explain why the price of crude oil has fallen so dramatically. Also, it will analyse the
impact the fall in the price will have on major oil producing nations. Moreover, it will explore the
effect that the fall in price will have on major oil companies and their supply companies. Finally, it
will present how the fall in oil price might affect consumers in the European Union. Crude oil is the
one of the most important natural resource of the industrialised nations, which could generate heat,
drive machinery and fuel vehicles and airplanes (years, someone). Moreover, the crude oil
components are used to manufacture almost all chemical products, such as plastic, detergents, paints
and medicines (years, someone). Also, it plays a significant role in expanding technical ability to
discover new sources and extending the production lives of existing oil fields. Therefore, constant
changes in the price of the crude oil have an impact on a global economy (years, someone).
According to Bolton (2014), the oil price reaches the highest price of almost $150 a barrel in July
2008 and felt in the second half of 2008 as the global financial crisis started. There are a many
reasons why the price were so high until the first half of 2008. Since 2002, the high demand for
fuels in rapidly developing countries, such as China and India increased. In addition, there was
frequent disruptions to supply crude oil to the global markets, such as political and security situation
in
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144. Essay on Rising Gas Prices in the United States
Once upon a time Americans hopped into their cars on warm spring days and took long drives to
admire the beauty of nature. Teenagers took joy rides around town to meet friends and rode from
one "hot spot" to another. Those were the days when gas prices were affordable to the average
American. Over the past few years, gas prices in the United States have been on the rise. What is
causing the increase in gas prices? To understand the increase in gas prices, one must first identify
the distribution of dollars paid per gallon at the pump. According to the U.S. Energy Information
Administration (eia) in 2010, the annual average paid at the pump consisted of 68% crude oil, 7%
refining, 10% distribution and marketing, and 15% taxes ... Show more content on Helpwriting.net
...
In response to the rebellion, Gadhafi has amassed a military force that includes regime supporters
and hired mercenaries to fight against the rebels. This has caused an upheaval all throughout Libya's
oil industry causing turmoil within the National Oil Corporation (NOC). "Along with smaller
subsidiary companies, the NOC accounts for around 50 percent of the country's oil output."
(Reuters) In addition, major foreign international oil companies operating in Libya have evacuated
employees. These companies include Eni, StatoilHydro, Occidental Petroleum, OMV,
ConocoPhillips, Hess Corp, Marathon, Shell, BP, ExxonMobil, and Wintershall, a subsidiary of
chemical company BASF. (Reuters) Meanwhile the North Atlantic Treaty Organization (NATO) has
decided to enforce the no–fly zone over Libya and protect citizens. As the United States, United
Kingdom, and France prepared for action against Libya under the U. N. resolution, the cost of crude
oil per barrel rose to $103.66. (Press) The United States launched cruise missiles against Gadhafi's
military forces. Missile strikes as well as Gadhafi's own land attacks have halted Libya's oil
production and exportation. "The International Energy Agency (IEA) said that while the rebellion
against Libyan leader Moammar Gadhafi continues, "what is becoming clearer is the country's oil
production and exports could be off the market for many months due to
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148. Process Safety in Oil and Gas Operations- Past, Present...
PROCESS SAFETY MANAGEMENT IN OIL AND GAS OPERATION: PAST, PRESENT AND
FUTURE DIRECTION
1.0 Introduction
Process safety management system (PSM) has received greater attention in the oil and gas industry
because of the major memorable accidents that have occurred within the industry and the severity of
their impacts on stakeholders. The Bhopal gas tragedy which occurred in December 1984 from the
release of methyl Isocyanates (MIC) where over two thousand people died and the Flixborough
disaster which also happened on 1974 where about twenty eight workers were killed and thirty six
workers suffered from serious injuries alerted the essence of PSM in the operations of not only oil
and gas activities but in other process industries (Hackitt ... Show more content on Helpwriting.net
...
Also, due to poor process safety culture, BP didn't have a process safety audit system which could
have revealed all the inherent hazards and risk associated with their operations and for this matter
the accident at the Texas City refinery happened (Baker et al 2007).It is obvious that the poor
process safety culture made management and operators in the oil and gas sector to under estimate
the role process failure could lead to accidents.
Again, USW (2007) reports that most Oil and Gas refineries in the United States practice bad
process safety systems where most refineries used atmospheric vents on their process units which
accounted to the release of untreated flammable and dangerous substances. It continues to report
that work tool trailers were located closely to process units thereby exposing them to dangerous
conditions and also permitted unqualified workers to work in risky areas during operations.
Moreover, plants were modified without thorough risk assessments, failure to conduct pressure test
after installing new pipework at Flixborough (Hackitt 2010) was another poor process safety
practice. This poor process safety practice was the root cause of the explosion. It can be said that the
poor practices of process safety was due to unawareness that processes could go wrong.
2.3 Complex Processes and Plants Design According to Hopkins (2007) the complexity of processes
and plants design caused process related accidents to happen.
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152. 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
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156. How Did Rockefeller Stimulate Industrial Growth In The...
There are many factors that stimulated the industrial and agricultural growth in the late nineteenth
century. Advancements in manufacturing and production technology enabled the widespread
adoption of preexisting technological systems such as telegraph and railroad networks, gas and
water supply, and sewage systems, which had earlier been concentrated to a few select cities. The
enormous expansion of rail and telegraph lines after 1870 allowed unprecedented movement of
people and ideas, which culminated in a new wave of globalization. In the same period, new
systems were introduced, most significantly electrical power and telephones. John Davison
Rockefeller was an American industrialist and philanthropist. He was the founder of the Standard
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