...VENEZUELA OIL AND GAS INDUSTRY (PDVSA) NAME: INSTITUTION: Venezuela is among world’s leading oil and gas industry holders. It is ranked 13th among the world’s largest oil producers and 10th among the exporters. Notably, it has historically been one of the United States largest sources of oil imports. These key contributions in the world attract experts’ opinions about Venezuela’s future trends in the industry. It is majorly dependent on key factors such as the customer needs, state of economies and the environmental changes in the country. The increasing customer needs has had a major role in the prediction of future trends in the oil and gas industry in Venezuela. Globally the customer demand influences the world peak oil; this refers to when the rate of oil production enters its maximum level. Some petroleum experts such as Kenneth Deffeyes and Matthew Simmons believe that the increased dependence of agricultural, industrial, and transport systems on low cost and availability of oil have negative impacts on the gas and oil industry (World crisis.net, 2008). If strategic economic changes are only in response to high prices and shortages rather than a threat of the peak, then the rate of economic damage to importing countries would only depend on how rapid oil imports decline after the peak. The oil demand is projected to grow to increase by over 30% from current levels by 2030. Venezuela been a key source of oil means that it will play a key role to try and meet the need...
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...Abbreviations GHG – Greenhouse Gas CO2 - Carbon dioxide CH4 - Methane N2O – Nitrogen oxide LNG- Liquefied Natural Gas Abbreviations GHG – Greenhouse Gas CO2 - Carbon dioxide CH4 - Methane N2O – Nitrogen oxide LNG- Liquefied Natural Gas Highlights * We model two major oil and gas companies. * We examine causes of Climate Change * Increase in further research may produce other alternative to exist source of energy * Combined efforts will help to meet carbon reduction target ABSTRACT Playing a major role in the world, the oil and gas industry is faced with the challenge of climate change. This paper establishes the fact that climate change troubles our planet today. In establishing this fact the paper examines the causes of climate change, the relationship between climate change and the oil and gas industry through CO2. It further evaluates the various methods available to reduce CO2 emissions and the challenges the companies have in implementing the methods. This paper uses two major oil companies as case studies, to establish the above stated facts and concludes that oil and gas companies need to be involved in more research and development of alternative supply of energy, in order reduce CO2 emissions, in collaboration with other sectors of the economy in achieving the targets made regarding climate change, environmental laws and policies. Keywords: CO2, Climate Change, Industry, Oil and Gas. 1. INTRODUCTION Climate change is a global...
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...Break even price for oil & gas: US$87.24-BMO Nesbitt — Oil and Gas Investments... Page 1 of 5 Learn how to invest in oil and gas stocks. Get your free guide here. Home About Contact Us In the Media Subscriptions Archives Members Center 2008 Break even price for oil & gas: US$87.24-BMO Nesbitt by Keith Schaefer on July 22, 2009 The breakeven price for oil and gas companies in 2008 was US$87.24 per barrel of oil equivalent (boe), BMO Nesbitt Burns said in their annual Global Cost Study released July 21. The three year average for the industry’s breakeven price is US$73.60. They estimate the 2009 breakeven price will fall roughly 20% to close to US$70. It has risen steadily since 1999 when it was $16.96 BMO Nesbitt Burns is one of the largest Canadian brokerage firms. Their survey included 118 companies that produced 19 million barrels of oil per day (bopd) and 85 billion cubic feet of gas per day (bcf/d). These numbers encompass all costs, or what the industry calls full cycle costs, and include a 10% return on capital for the producer. (This is an important distinction as many investors get confused on costs. When companies report break-even costs on wells or production, they are often referring to operating costs, or what the industry calls half-cycle costs. Energy companies can say they can produce oil or gas at $X, but that may be on an operating basis, and not include items like land acquisition (this is especially true for the new shale gas plays).) – — – — – — –...
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...www.businessmonitor.com Q4 2012 QataR oil & Gas RepoRt INCLUDES BMI'S FORECASTS issN 1748-4189 published by Business Monitor international ltd. QATAR OIL & GAS REPORT Q4 2012 INCLUDES 10-YEAR FORECASTS TO 2021 Part of BMI's Industry Report & Forecasts Series Published by: Business Monitor International Copy deadline: September 2012 Business Monitor International 85 Queen Victoria Street London EC4V 4AB UK Tel: +44 (0) 20 7248 0468 Fax: +44 (0) 20 7248 0467 Email: subs@businessmonitor.com Web: http://www.businessmonitor.com © 2012 Business Monitor International. All rights reserved. All information contained in this publication is copyrighted in the name of Business Monitor International, and as such no part of this publication may be reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphic, electronic or mechanical, including photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher. DISCLAIMER All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Business Monitor International accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting...
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...–December 31, gas prices in Chicago had risen significantly. In it’s bi-monthly newsletter at the beginning of January 2011, the Lundberg Survey, a report which tracks gas prices, points to Chicago for the highest gasoline prices nationally topping the charts at an average of $3.35 per gallon for regular. With Illinois already high, 58.8 cent gas tax coupled with the city of Chicago’s gas tax of 50 cent a gallon any nationwide increase in gas prices will be even more significant in Chicago (1). Gas prices vary widely from state to state based largely on local taxes placed on the inelastic product. But prices have been trending higher nationwide after an increase in the price of crude oil, the main ingredient in gasoline (2). In Chicago, just as in the rest of the U.S., there was an increase in demand for oil during the period of November 19th –December 31, 2010. This increase in demand is illustrated by the decrease in U.S. crude oil inventories. Between the mentioned period of 6 weeks, crude oil inventories declined by 21.84 million barrels (3). These declines were a result of increases in gas consumptions, which also translate into increases in demand. The increase in inventories doesn’t stop with the U.S. Emerging market economies such as China and India contribute to the increase in oil demand worldwide. With increases in the consumption of gas follows increases in the price of gas. In order to reach the equilibrium price, the “invisible hand” moved prices up as the more gas was...
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...Brochure More information from http://www.researchandmarkets.com/reports/2699314/ Cairn Energy PLC Analysis Across the Oil and Gas Value Chain Report, 2013 Update Description: Cairn Energy PLC Analysis Across the Oil and Gas Value Chain Report, 2013 Update Summary "Cairn Energy PLC" Analysis Across the Oil and Gas Value Chain is an essential source for data, analysis and strategic insight into “Cairn Energy PLC”. The report provides key information relating to oil and gas assets of the company along with its operations across the value chain. The report examines the company’s business structure, operations and products, and provides an analysis of its key revenue lines. Scope - Provides information on length or historical production or capacity data on Company’s oil and gas assets across the value chain - Forecast capacity of major oil and gas assets to 2017 - Reports oil and gas assets of the company in different countries including operator and equity details for major oil and gas assets - Details on company’s business description, locations and subsidiaries as well as a list of products and services - Latest mergers and acquisitions, partnerships or financings of the company including debt, equity or venture finance. Note*: Some sections may be missing if data is unavailable for the company. Reasons to buy - Research your competitors business structure, strategy and prospects - Assess your competitor’s major energy assets and their historic and forecast...
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...AN ALTERNATIVE TO FOREIGN OIL An Issue Paper Presented to Professor Sheila Christensen Professor of Marketing Utah Valley University For Management 2200 By Greg Gossard July 30, 2012 Executive Summary Over the past few decades, in the United States, oil is the primary fuel consumed by most vehicles on our roads and in our air space today. It is estimated that two-thirds of the oil used is due to the transportation sector. This report will examine the pros and cons of the need for alternate solutions to the ever increasing reliance the United States has on foreign oil. There are practical alternatives and solutions that the United States could implement in the short run, and especially in the long run as well. The idea of domestic drilling, along with natural gas, and plug-in hybrids are definitely worthwhile options to look at for an alternate solution to the dilemma of oil consumption. While some may argue that these other sources are not consistent enough or wouldn’t be efficient resources for alternative energy, there is enough evidence supporting claims to the contrary In financing research projects exploring alternative energy, the U.S. would easily be able to use all of those resources of energy to remove our dependence on foreign oil consumption. On average, the U.S. spends about one billion dollars per day on foreign oil. That adds up to be thirty billion on average per month, and over three hundred and sixty billion annually. This is a gross and unnecessary...
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...end of the 6-week period of November 19th –December 31, gas prices in Chicago had risen significantly. In it’s bi-monthly newsletter at the beginning of January 2011, the Lundberg Survey, a report which tracks gas prices, points to Chicago for the highest gasoline prices nationally topping the charts at an average of $3.35 per gallon for regular. With Illinois already high, 58.8 cent gas tax coupled with the city of Chicago’s gas tax of 50 cent a gallon any nationwide increase in gas prices will be even more significant in Chicago (1). Gas prices vary widely from state to state based largely on local taxes placed on the inelastic product. But prices have been trending higher nationwide after an increase in the price of crude oil, the main ingredient in gasoline (2). In Chicago, just as in the rest of the U.S., there was an increase in demand for oil during the period of November 19th –December 31, 2010. This increase in demand is illustrated by the decrease in U.S. crude oil inventories. Between the mentioned period of 6 weeks, crude oil inventories declined by 21.84 million barrels (3). These declines were a result of increases in gas consumptions, which also translate into increases in demand. The increase in inventories doesn’t stop with the U.S. Emerging market economies such as China and India contribute to the increase in oil demand worldwide. With increases in the consumption of gas follows increases in the price of gas. In order to reach the equilibrium price, the “invisible...
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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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...Sustainability Reporting Guidelines & Oil and Gas Sector Supplement © 2000-2012 GRI Version 3.1/OGSS Final version The Oil and Gas Sector Supplement is based on the G3.1 Sustainability Reporting Guidelines © 2000-2012 GRI Version 3.1/OGSS Final version Oil and Gas Sector Supplement Sustainability Reporting Guidelines RG & OGSS Table of Contents Overview of the Guidance provided in this Document for the Oil and Gas Sector Human Rights Society Product Responsibility 43 47 52 Preface Sustainable Development and the Transparency Imperative General Reporting Notes Data Gathering Report Form and Frequency Assurance 10 Glossary of Terms Acknowledgments 12 12 13 14 54 54 55 56 58 Introduction Introductory Section for the Oil and Gas Sector Overview of Sustainability Reporting The Purpose of a Sustainability Report Orientation to the GRI Reporting Framework Orientation to the GRI Guidelines Applying the Guidelines Part 1 Defining Report Content, Quality, and Boundary Guidance for Defining Report Content Principles for Defining Report Content Principles for Defining Report Quality Guidance for Report Boundary Setting 16 17 22 26 Part 2 Standard Disclosures Strategy and Profile 1. Strategy and Analysis 2. Organizational Profile 3. Report Parameters 4. Governance, Commitments, and Engagement 5. Management Approach and Performance Indicators Economic Environmental Social: Labor Practices and Decent Work 40 29 29 30 30 31 33 34 36 ...
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...scratching their heads and asking, “is the money that oil and gas development is providing to our state important enough that we are willing to risk the health of our families”? Why is there a risk? Because the oil companies are not satisfied with reaching oil only a few hundred feet below the surface. Oil and gas companies are interested in retrieving the oil and gas from a layer of shale and dense rocks at depths of 10,000 feet. The oil companies are retrieving the oil and gas from the shale and rock using a method known as hydraulic fracturing (fracking). This method was developed over 60 years ago. The process of fracking injects water, sand, and chemicals through a cement casing or tubing into shale and dense rocks, cracking the shale and rocks to open the pores, allowing the oil and gas to flow more freely to the surface (Svoboda). Even though the oil companies are using less invasive chemicals, leaving behind fewer toxins, they are still using chemicals with health risks attached such as ethylene glycol. The other health concern today is the dumping of wastewater that comes from the fracking process. There were more than 1,000 reported spills or illegal dumps of wastewater and other drilling fluids in 2011, just in the state of North Dakota. This contaminated water has to go somewhere, and it is likely going into our groundwater, killing our wildlife, aquatic life, and sterilizing our croplands (Kusnetz). We agree that oil and gas development is a good thing for our state and...
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...……………………………………………………………………………………. 22 5.0 Recommendations ………………………………………………………………… 23 6.0 Conclusion …………………………………………………………………………... 24 7.0 References …………………………………………………………………………... 25 Appendices Appendix 1 – Key Financial Data for COP, XOM and CVX Appendix II – Financial Ratios 1.0 Executive Summary ConocoPhillips has grown into the 3rd largest Integrated Oil and Gas Company in the US ever since the merger of Conoco and Phillips Petroleum in 2002. Since then, its market capitalization has grown 5 times to US$ 101 Bil with an asset base of US$155 Bil. This report provides an insight to the Board of Directors of the financial performance of ConocoPhillips since 2002 and will be benchmarked against competitors in the industry to give a cross sectional analysis. Whilst the growth of ConocoPhillips has been impressive over the last 10 years, earnings have not performed according to its peers in the industry. During this period, the Company had reported several impairments to its major assets and its earnings were eroded by the volatility of the crude oil and natural gas prices. These results have also unfolded some new challenges to Company in terms of financial gearing and the need to manage its cash...
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...effective management of Focus Reports. Both internal and external will be analyzed to identify all opportunities and threats of the external environment as well as the strengths and weaknesses of the organizations. Focus Reports is a UK-based and privately held independent publisher that produces exclusive country reports focused pharmaceutical, oil and gas and energy industries around the world through a portfolio of internet portals and world class print media. The company was founded in 2002 and has since produced over 80 reports covering 50 different countries through exclusive interviews with over 10.000 C-level managers worldwide. Data for this analysis has been collected through interviews with a senior employee at the firm. Key competitors With well over six centuries since the first print media was published in the 15-th century, the publishing industry has had the time to develop in a mature and highly diversified industry. In order to identify the competitive threats that Focus Reports could be facing, it is therefore essential to properly identify the specific niche within which it operates. As a company dedicated to producing country specific economic sectors, which include the pharmaceutical, oil and gas and energy industries, Focus Reports in fact operated in a highly specialized industry niche with few, yet strong competitors. These include: * Oxford Business Group (OBG) - www.oxfordbusinessgroup.com/ * The Oil & Gas Year (TOGY) - www.theoilandgasyear...
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...Westminster International College Module Title: Research Skills Programme: BABS Semester: Three Academic Year Period: June 2012 –September 2012 Lecturer: Dr. Kui Juan Tiang Date Given and Available on the Student Portal: 6 July 2012 Date of Presentation: Week Beginning 6 August 2012 Date of Completion and Submission: 15 August 2012 Submission Method: Online via Turn It In with one hard copy to the Examinations Department Assessment Type: An individual presentation and type-written assignment Student: Aliaskar Batyrbek Student ID: NE/WICKL/UWIC/BABS/1011/0117 Assignment Topic: An investigation study of development of oil and gas industry in Kazakhstan Table of Contents 2 Introduction 4 2.1 Country Profile 4 2.2 History of industry 4 3 Research Objectives 5 4 Literature Review 6 4.1 Geographic Factor 6 4.1.1 Major Oilfields 8 4.1.2 Export Operating Pipelines 9 4.2 Government Policies 11 4.3 Financial Factor and R&D Factor 12 4.4 Market Prospects 14 4.4.1 Market players 14 4.4.2 Production 15 4.4.3 Consumption 16 5 Research Methodology 18 6 Time Scale / Gantt Chart 19 7 References 20 Figure 1 4 Figure 2 (KMG, 2012) 5 Figure 3 (BP, 2012) 5 Figure 4 (European Dialogue, 2012) 6 Figure 5 (BP, 2012) 6 Figure 6 (CIA, 2012) 8 Figure 7 (Centre for Global Energy Studies, 2012) 9 Figure 8 (Centre for Global Energy Studies, 2012) 9 Figure 9 (The Agency of Statistics of...
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...Royal Dutch Shell PLC RDS.A [pic][pic][pic][pic][pic] [pic][pic] [pic] | | |[pic][pic] | |[pic] | |[pic] | |[pic] | | | | | | | |[pic] | |[pic] ...
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