...It is recommended for Daves Oil and Gas to exercise due diligence by complying with the legislatures governing it, in order to overcome environment liabilities and also carrying out risk management. Management should be able prove that the company took all reasonable action and care to prevent committing an offence. Furthermore, in order for due diligence to be effective, the proposed company should emphasize on the level of employees training. An Environmental Management System (EMS) which is a tool used by company to measure, identify and manage the effects of its activities on the environment is recommended to Daves Oil and Gas. An EMS would be useful to Daves Oil and Gas because it would help the company set out its goal for environmental...
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...Improving Performance in the Workplace Effective Training: A Case Study from the Oil & Gas Industry 1. Provide a summary of the who, what, and why of the case. This is a case study of the Oil & Gas Industry (O&G) and the safety measures and evaluations they employ. Throughout this case study, it was determined that the main focus was the safety of the inexperienced workers (roughnecks and worms) and drivers of the rigs. Although everyone in the industry may require some sort of safety training, it seems plausible that those with less experience need more training as they begin a new “high-risk” job. O&G was not sufficiently annotating past injury cases to show the lack of safety within their organization. This required outside individuals to visit 40 plus oil rigs over a several year period to perform a question and answer rendition in order to collect imperative data of past, present and future safety programs, as well as annotate the processes which were emplaced at the various sites. Most of the safety information seemed to be passed via story boards. In other words, the experienced workers would tell stories about individuals within the company, which seems to be productive. Since the average person envelops and grasps the content better via stories, this proved to be the choice of the organization venue for their safety programs. 2. Was the organization ready for the training? Should management should have done more planning? When the headquarters decided to...
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...Impact of Nigeria's Bilateral Investment Agreements in Oil and Gas on the Right to Health and the Right to a Healthy Environment: A Case Study of the Niger Delta” Full Name of Student (Your student registration number) A XXXXXXXXXXX DISSERTATION SUBMITTED IN PARTIAL FULFILMENT FOR THE REQUIREMENT OF DEGREE OF XXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXX UNIVERITY Declaration I hereby declare that research thesis is my original work and has never been used presented for any degree or diploma in any university or institution. Where material is obtained from published or unpublished works, this has been fully acknowledged by citation in the main text and inclusion in the list of references. Table of Contents Declaration 2 Table of Contents 3 CHAPTER ONE: INTRODUCTION 11 1.1 Background of the study 11 1.2 Statement of the Problem 27 1.2 Research Aims 29 1.3 Research Objectives 30 1.4 Research Questions 31 1.5 Justification of the Research 32 1.6 Research Methodology 42 1.6.2 Research design 45 1.6.2 Target population 45 1.6.3 Sampling 46 1.6.4 Data collection 46 1.6.5 Data presentation 46 1.7 Definition of terms 46 1.8.2 Environment 47 1.8.3 The right to health and the right to a healthy environment...
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...Study on sales channel of Total S.A in sub-Sahara Africa Name University Affiliation 1.1 Introduction and Background Total S.A is a French multinational oil and gas company whose headquarters is in Tour Total, Courbevoie near Paris in France. Total S.A was one of the major six world oil companies when the French prime minister rejected the idea of a partnership with Royal Dutch Shell. He instead favored the idea of forming an independent French oil company because petroleum was considered as a very important in the case of new war with German (Total.com, 2015). It was formed in 1924 after World War I and was initially called French Petroleum Company (CPF). Initially, this company was a taken as a private sector company (Total.com, 2015). In the 1930s, Total S.A engaged in the oil exploration and production mainly in Middle East countries and after World War II, it diversified its exploration to Canada, Venezuela, and Africa as it pursued energy sources in France. In 1980, Total Petroleum North American wing controlled about 50% CPF it bought the refining and marketing assets of Vickers Petroleum. This action enabled it to have the capacity of transportation and networking over 350 service stations in 20 states. Between the years 1985 -2003, Total CPF rebranded itself to boost the popularity of its gasoline brand. The name of this company changed to “Total” when it became a public company as it was listed on New York Stock Exchange. In the early 1990s, the foreign ownership...
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...CASE STUDY: FRACTURING THE ENERGY MARKET 1. Which industries gain and which industries lose from the availability of cheap natural gas produced from shale deposits? The industries that gain cheap natural gas produced from shale deposits are United States it is known for the largest deposit of shale gas. It is estimated to be nearly 500 trillion cubic feet of gas which is more than enough for America’s citizen to receive energy for 50 year or further. U.S. is the world’s largest economy that have a good prime market, political stability, military strength, foreign investment, international trade and many more. Plus it all started in 1932 when Joseph Schumpeter an American develop the innovation concept of fracking. France, Bulgaria and Poland have the largest shale reserves in European. France was banned fracking in 2001 due to environmental awareness and Bulgarian too banned in 2012 for the same reasons. Poland also has been banned from using fracking because they are protecting their quality water supplies and currently being managed by coal for power energy. Other than that, China also have a large shale gas reserve at about 1,275 trillion cubic feet. It have not yet been develop so China lose the availability of cheap natural gas. 2. Which countries gain and which countries lose from the availability of cheap natural gas? Based on the case study Germany has gradually shutter all its nuclear power plants and increase reliance on solar and wind energy because...
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...brand names. |Cost of environmental hazards. | |Diverse and huge operations. |Legal issues. | |PETRONAS has grown to be an integrated international oil and gas |Employment scam. | |company with business interests in 50 countries. |Rising investment requirement. | |Sponsored education to Malaysian students. (PESP, PSIP) | | |Opportunity |Threats | |Increasing fuel/oil prices. |Government regulations. | |Increasing natural gas market. |High Competition. | |More oil well discoveries. |Long-term falls in domestic oil production. | |Expand export market. |Competition in regional LNG supply. | 1 EFE Matrix of PETRONAS |Key External Factors ...
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...World Shale Gas and Shale Oil Resource Assessment SHALE GAS AND SHALE OIL RESOURCE ASSESSMENT METHODOLOGY INTRODUCTION This report sets forth Advanced Resources’ methodology for assessing the in-place and recoverable shale gas and shale oil resources for the EIA/ARI “World Shale Gas and Shale Oil Resource Assessment.” The methodology relies on geological information and reservoir properties assembled from the technical literature and data from publically available company reports and presentations. This publically available information is augmented by internal (nonconfidential) proprietary prior work on U.S. and international shale gas and shale oil resources by Advanced Resources International. The report should be viewed as an initial step toward future, more comprehensive assessments of shale gas and shale oil resources. As additional exploration data are gathered, evaluated and incorporated, the assessments of shale oil and gas resources will become more rigorous. RESOURCE ASSESSMENT METHODOLOGY The methodology for conducting the basin- and formation-level assessments of shale gas and shale oil resources includes the following five topics: 1. Conducting preliminary geologic and reservoir characterization of shale basins and formation(s). 2. Establishing the areal extent of the major shale gas and shale oil formations. 3. Defining the prospective area for each shale gas and shale oil formation. 4. Estimating the risked shale gas and shale...
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...the Crude Oil and Natural Gas Sector of Nigeria Table of Contents A State Intervention Approach to International Trade and the Right to Health in the Crude Oil and Natural Gas Sector of Nigeria 1 Chapter 1 General Introduction 6 1.1. Background 6 1.1.1. Definitions 14 1.1.2. Trade Liberalization 14 1.1.3. International Trade Law 15 1.1.4. Right to Health 16 1.1.5. Human Right Laws 17 1.2. Research Questions 18 1.3. Justification of the Research 21 1.4. Research Objectives 30 1.5. Research Methodology 31 1.6. Research Structure 37 Chapter 2 Theoretical Framework and Literature Review 40 2.1. Introduction 40 2.2. International Trade Rules and Protection of People’s Right to Health 41 2.2.1. Sources of International Trade Rules 41 2.2.2. Trade Liberalization and the Protection of the Right to Health 44 2.3. Scope of the Right to Health 54 2.4. Brief Overview of State Intervention Theory 59 2.5. States Duty towards the Fulfilment of the Right to Health 65 2.6. Legislative and Institutional Regulations Protecting the Right to Health in Nigeria 73 2.6.1. The International Covenant on Economic Social and Cultural Rights (ICESCR) 1966 76 2.6.2. The African Charter on Human and People’s Rights (ACHPR) 78 2.6.3. The International Health Regulations, 2005 81 2.6.4. The Nigerian Constitution 82 2.7. Conclusion 83 Chapter 3 State Intervention in the Negative Effects of Trade in Crude Oil and Natural...
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...understanding of the work of a manager in practice and how this relates to the theoretical explanations and managerial experiences identified. Where there are organizations, it is always impossible to find no managers involved in it. Recognizing that fact, it can be easily clarified that the relationship between organization and the study of management is very strong and so the knowledge about organization is always briefly explained before stepping further in to the discussion of management work. Basically, organization defined as a systematic arrangement of people. Every organization has distinct aims that need to be achieved by a group of people that structured into different types of role according to their capability of working. Therefore, distinct purposes, people, and deliberate structure have been known as the certain characteristics of the organization. Management work plays crucial role in the organizations. Not only take the initiative to get things stay on the track, management work should also make the process of production more effective and efficient so the goals of the organization can be greatly accomplished. To illustrate this, in the case of selecting qualified people to join the organization, the Human Resources Management gets into the vital position. According to Ali (2013), the Human Resources Management will take the responsibility getting and keeping good people to run the organization and also maintain that their commitment is always in line with the organization’s...
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...Five case studies from civil society sponsored by February 2010 About ECCR The Ecumenical Council for Corporate Responsibility (ECCR) is a church-based investor coalition and membership organisation working for economic justice, environmental stewardship, and corporate and investor responsibility. ECCR undertakes research, advocacy and dialogue with companies and investors. It seeks to influence company policy and practice and to raise awareness among the British and Irish churches, the investor community and the general public. For more information, please visit www.eccr.org.uk. Acknowledgements ECCR would like to thank the five civil society organisations that contributed case studies based on their work in the Niger Delta; Cordaid for generously sponsoring the report; members, partners and independent experts who advised, read and commented on the text before publication; Royal Dutch Shell Plc and Shell Petroleum Development Corporation of Nigeria for providing company information and commenting on the text. Cover photo credits: Friends of the Earth International; IRIN/UN Office for the Coordination of Humanitarian Affairs; Milieudefensie/Friends of the Earth Netherlands; Stakeholder Democracy Network. Disclaimers ECCR has commissioned and published these case studies as a contribution to public understanding. The text has undergone a careful process of fact-checking and review to achieve accuracy and balance. Nevertheless, the views expressed in the case studies do not...
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...PROJECT PROPOSAL AND PLAN REGARDING OIL AS A SOURCE OF ENERGY IN THE U.K. Course Tutor University Date Aim The aim of this project proposal will be to respond to queries regarding oil as a source of energy. Also, the study shall seek to address on various factors that are associated with oil importation. Abstract The key intentions of the study are to concentrate on oil energy. Consequently, the study will also seek to respond to alternate queries related to the need to sustain oil energy. The study shall also attempt to demonstrate the importance of oil energy as well as challenges that do come with oil energy. Lastly, the project study plan will show on the project time frame along with the projected budget that will be used to carry out the research. Although a shallow clarification the study shall also explain more on this. Thus, the technique used in conducting the study will comprise of descriptive figures along with the use of questionnaires. Keywords GDP: gross domestic product U.N: United Nations. U.K: United Kingdom N.R: Nonrenewable energy Table...
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...Earnings Management Study Oil & Gas Industry Abstract This study mainly focused on the earnings management in oil and gas industry and we used Jones model to detect discretionary accruals in the subject companies. Specifically, we examined three oil and gas sample companies that have been required to restate their financial reports due to the oil reserve overestimation. After running the regression and comparing statistics with other oil and gas companies, we found that the sample companies do revise oil reserves to manipulate the DDA expenses, thus achieving their goals of earnings management. Some recommended auditing guidance to detect such manipulation were given at the end. Introduction/Assumption Earnings management, in accounting, is the act of intentionally influencing the process of financial reporting to obtain some private gain. Earnings management involves the manipulation of company earnings towards a pre-determined target. This target can be motivated by a preference for more stable earnings, in which case management is said to be carrying out income smoothing. Management may also overstate the income for personal interests. Other possible motivations for earnings management include the need to maintain the levels of certain accounting ratios due to debt covenants, boost earnings to beat analyst targets, or intentionally understate the earnings to get rid of the...
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...FInTHE ROLE OF OIL FUTURES IN RISK MANAGEMENT From: To: Senior Management - Airlines Company November 2011 0 University of Westminster - Westminster Business School International Risk Management COURSEWORK THE ROLE OF OIL FUTURES IN RISK MANAGEMENT Student: Student ID: Course: Word count: MSc. Finance and Accounting 2557/2617 1 EXECUTIVE SUMMARY In the world today, oil is being used as the main source of energy for a lot of core industries. Due to its non-renewable characteristics and the global rising demand, oil has increased in its value, which results in many oil price crises recently. For all those industries using large amount of oil in operation, the risk of rising oil price is an extensive problem. The most efficient method to hedge against this risk is by using oil futures contracts. Because of its effectiveness, oil futures contracts are playing a key role in risk management for a number of industries including transportation and manufacturing. This report provides principal knowledge about oil futures and its role in hedging the risk of oil price volatility. A case study of US airline industry with most updated data obtained from Bloomberg system is also discussed, which suggests the effectiveness of oil futures in risk management for most airlines companies. However, in some case, the inflexible use of oil futures may create a burden in financial costs while not producing effectiveness in risk hedging. 2 TABLE OF CONTENTS LIST OF...
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...methane gas and toxic chemicals and contaminate groundwater. “Hydraulic fracturing is used after the drilled hole is completed. Put simply, hydraulic fracturing is the use of fluid and material to create or restore small fractures in a formation in order to stimulate production from new and existing oil and gas wells. This creates paths that increase the rate at which fluids can be produced from the reservoir formations, in some cases by many hundreds of percent.” (Pennsylvania Department of Environmental Protection, 2010) This process allows production in older oil and natural gas fields. Hydraulic fracturing has been used in the United States since the 1940’s. “The U.S. has vast reserves of natural gas that are commercially viable as a result of advances in horizontal drilling and hydraulic fracturing technologies enabling greater access to gas in shale formations. Responsible development of America's shale gas resources offers important economic, energy security, and environmental benefits.” (United States Environmental Protection Agency, 2013) Fractures in Onshore shale and Tight Rock formations are oil fracking. It can be natural or man-made through rock. The fluid includes water, sand, ceramic and often chemicals. “High-pressure Fracking is done from a wellbore drilled into reservoir rock formations to increase the rate and ultimate recovery of Shale Oil and Light Tight Oil. Most times a Shale Oil formation only needs to be Fracked once, where as a Natural Gas formation...
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...of Engineering Science and Technology Vol. 2(4), 2010, 610-617 Gas Flaring activities of major oil companies in Nigeria: An economic investigation. Dr. Stella Madueme Department of Economics University of Nigeria, Nsukka Enugu State, Nigeria Abstract This paper reveals the general trends in gas flaring in seven major oil companies in Nigeria from 2000 to 2008. It reveals which company’s flaring activities constitutes the greatest hazard. Data was collected through archival sources. Gas flaring activities was highest between 2000 to2002 but presently only about a quarter of all gas produced is flared. TEXACO and PAN OCEAN has been flaring more than 95% of its gas from 2000 to 2008. SHELL was discovered to maintain the best record in terms of the fact that its flaring activities has been decreasing consistently over the years. Some of the recommendations are planned targeted policies towards gas flaring reduction, increased government taxation on gas flaring and governmental reward packages to companies with lowest flaring activities are also necessitated. Keywords: Oil company. Gas. Flaring, economic, environmental, hazard Introduction and literature review Gas flaring has been recognised as an economic waste and a great environmental hazard. Various researchers have written extensively on various issues in the gas sector. Blasing, Hand and Kimberly (2007) worked on monthly carbon emissions from natural gas flaring and cement manufacture in the United States.[1] They discovered...
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