...Quality Issues in the Gas and Oil Industry: BP PLC Project Outline I. Overview of BP PLC a. Full Name- British Petroleum b. Amount of Individuals Employed- 83,400 people c. Worldwide Industry- Gas and Oil Production d. Products and services- Aromatics and acetyls, Asphalt, Aviation and marine fuels, Petrochemical products, Bitumen, Fuel cards, Liquefied petroleum gas (LPG), Marine fuel, Oils and lubricants, Photovoltaic solar electric products and systems, Polymers, Purified terephthalic acid (PTA), Paraxylene (PX), Acetic acid, Ethylene, Propylene, Solvents and industrial chemicals, Downstream derivative products, Generation of power, Operation of fuel stations, Oil and gas exploration and production, and Oil and natural gas transportation, distribution, and marketing e. Quality Management Processes i. Finding Gas and Oil 1. Use refined technology and new scientific techniques through the use of typographical maps, sound waves, aerial photography, 3D projections, and more 2. Form educated guesses regarding size, shape, and oil/gas consistency ii. Extraction of Gas and Oil 1. Building of Production Facilities a. Analyze environmental data to ensure ways facility will make minimal impacts on environment b. Recycling of facility 2. Environmental Impact a. Environmental experts assess the impact b. Review possible problems in order to properly address them iii. Gas and Oil Transportation 1. Pipeline Usage 2. Shipping 3. Global Energy Trading iv. Making of the...
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...Overall investment in Oil and gas production 1.3 Vision, Mission statements, goal, objective 1.4 Competitive advantages Chapter 2 Strategic Management process 2.1 Competitive advantages 2.2 External Analysis ( PESTEL, Industry analysis using Poters five forces) 2.3 Internal Analysis (Resources and capabilities of the company) 2.4 SWOT Analysis Chapter 3 Strategy Formulation. 3.1 Business level strategies 3.2 Corporate level strategies Chapter 4 Strategy Implementation 4.1 Structure, control, corporate governance, culture, business ethics, 4.2 Decision making structure, CSR Chapter 5 Conclusion & Recommendation 5.1 Conclusion 5.2 Recommendation 5.3 References 5.4 Appendices ( Appendix A,B,C,D) Chapter 1 INRODUCTION I had an interview with U Soe Thura who is an HR assistant manager at MPRL E&P Pte Ltd on 28th of April. He answered all my questions that I want to know about...
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...sustainability programmes, many oil companies have invested in local transportation networks or built schools. They provide jobs and by sourcing supplies locally help to develop the local economy. The global oil industry has a responsibility to the countries in which it operates to manage its operations in as sustainable way as possible. A purchasing manager might want to consider whether the supplier behaves responsibly, for example, adhering to ethical standards or sourcing raw materials in an ethical way. For example, Shell is working with its existing suppliers to implement the Shell Supplier Principles. These set out the minimum standards which Shell suppliers need to meet. These include using energy and natural resources as efficiently as possible to minimise impact on the environment and covering health and safety issues. Efficiency Other aspects of sustainable business include managing waste effectively and reducing the company’s carbon footprint. This can be improved by choosing suppliers who also take their responsibilities towards environmental impact seriously. For example, Marks & Spencer made £70 million of efficiency savings during 2010/11. Alongside reductions in waste and packaging and increased energy efficiency, the company is working with suppliers to reduce carbon emissions in the supply chain by improving efficiency of deliveries. Roles and skills Although engineering and technical roles are crucial in the oil and gas industry, oil companies also require...
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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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...Employee Motivation in the Oil and Gas Industry BUS610: Organizational Behavior Instructor: Neil Mathur November 18, 2013 This paper discusses several ways to motivate worker in the oil and gas industry. There are a lot of workers that are not motivated. Coming up with different hands on ideas and motivation strategies that will help workers come up with ideas that they would like to see be implemented will help the motivation strategies. In the oil and gas industry many workers are not motivated, not only in the field workers are in the corporate environment. The oil and gas industry is a very busy industry. We not only have to take everything serious, we have to be on top of everything daily. Motivation is not incorporated in this field. The oil and gas field need to have more workers that could come up with different idea that would involve the workers and make them eager to get more involved in the company. The reason we need this is because the morale in the company is down. Workers do communicate with each other, but they do not participate in other activity that goes on in the company. I believe it take the director and managers to boost up the morale in the company in order for the company motivation strategy to work. The upper management needs to show the worker how much they are appreciated and show them how much they are needed to run the company. The Maslow’s Hierarchy is one of the theories that describe the oil and gas industry. The Maslow’s Hierarchy...
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...AND OPERATIONS MANAGEMENT” Chris Connell June 10, 2012 ABSTRACT In this paper, I will analyze Marathon’s product processes; I will determine which part of those processes is open to the greatest number of efficiency improvements, and I will explain further. In addition, I will discuss the relationship between the retail price of gasoline and the world demand for crude oil. I will try to discuss how Marathon could keep the price at the pump the same without losing any profits – even if global crude production has decreased by 10%. Finally, I will discuss President Obama’s June 2010 deep-water drilling moratorium. It was originally for six months; I will try to determine the impact of a continued moratorium on deep-water drilling for retail gas prices in the U.S. WHICH OF MARATHON’S PROCESSES CAN BE IMPROVED THE MOST? A business needs to be at least as efficient as its main competitors, in order to be able to compete and survive in the long-term. A more efficient business will produce goods at a lower cost than competitors can supply. A more efficient business can generate more profit, possibly at lower prices. (Tutu2u.net) In analyzing Marathon’s product processes, there are areas that are open to a large number of efficiency improvements. Particularly, the world will run out of oil sometime in the distant or near future. Both Marathon as a company (and the United States in general) has to explore and find oil more efficiently so that the use of oil as a resource can...
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...9-201-113 REV: AUGUST 27, 2001 D O LISA MEULBROEK Risk Management at Apache N Introduction O By March of 2001, managers at Apache Corporation, an independent oil and gas exploration and production company, had reason to be optimistic. While oil prices had softened somewhat recently, at $27 a barrel they were much higher than the pernicious levels of 1998, when oil bottomed out at $11 per barrel. Apache had just closed on the acquisition of Repsol in Egypt's Western desert and, along with its partner Shell Overseas Holdings, had also acquired Fletcher Challenge Energy, for a combined cost of $1 billion. The value of such acquisitions, however, depended in large part on the future prices of oil and gas. To decrease its exposure to oil and gas price volatility, Apache had begun a limited hedging program centered mostly on its recently acquired properties. Apache’s managers knew that hedging could create its own risks, and so it seemed prudent to re-evaluate the success of the new program. The decision facing Apache’s managers was whether the firm should continue hedging, and if so, should its current program be extended beyond hedging the revenues from acquisitions? T CO Apache Corporation PY Apache Corporation was founded in 1954 by Raymond Plank, its current Chairman and Chief Executive Officer. Mr. Plank’s son, Roger, was the company’s current CFO, but the company was not controlled by the Plank family, and in fact, officers and...
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...and business risks that the company faces Specific area of risks and controls Background, mission, objectives and strategies ExxonMobil Corporation is world’s leading petroleum and petrochemical company which is formed in 1999 by the merger of two major oil companies Exxon and Mobil. As the world's largest company by revenue and one of the largest publicly traded companies by market capitalization in the world (Wikipedia, 2012), ExxonMobil has many world spread operating businesses, such as upstream which includes oil exploration, extraction, shipping and wholesale operations, downstream which includes marketing, refining, and retail operations and chemical division. In 2012, with rapid growth, ExxonMobil becomes number 1 in Forbes Global 2000 list. * Mission Exxon Mobil Corporation is committed to being the world's premier petroleum and petrochemical company (ExxonMobil, 2006). To accomplish this mission, not only the financial and operating objectives must be achieved, the company should also follow specific ethical standards to build a perfect relationship between the company and stockholders, including shareholders, customers, employees and communities. * Objectives and strategies For such a large oil and gas company, each business of ExxonMobil is indispensable, no matter the upstream, downstream or the chemical division. And each business...
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...ExxonMobil MGT/521 Management Profesor Clance Doelling, MBA, BSME May 28, 2012 Introduction ExxonMobil is recognized as one of the world’s prominent oil and gas companies. They control market products and facilities nationwide. ExxonMobil is involved in marketing, gas, and oil exploration, transportation and production in approximately 200 countries. They manufacture aromatics, petrochemicals, polyethylene, olefins, and polypropylene plastics (ExxonMobil, 2012). ExxonMobil provides services and products under brands names Mobil, Esso, and Exxon. ExxonMobil is recognized as one of six of the largest oil refineries in the world. They own subsidiaries, such as the imperial oil limited in Canada and the sea river maritime a petroleum shipping company. The company is divided into different operating categories, such as upstream, downstream, and chemical. ExxonMobil has been successful because of their adaptation to change, its diversity, and desire to eliminate barriers. To remain successful in every aspect of the oil industry they must be at the leading edge of the competition. For this to be possible ExxonMobil must require the corporations operational, financial, human, and technological resources be evaluated frequently and used wisely. ExxonMobil makes every effort to improve productivity through learning, implementing best practices, sharing, and improving efficiency. ExxonMobil also strives to achieve superior operating and financial results as they adhere...
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...Troy Rock Florida Institute of Technology Research Paper Supply Chain Process in the Oil and Gas Industry. MGT 5069 June 18, 2016 Introduction The definition of supply chain management, it is described as being the set of processes in a firm that are implemented to maximum customer satisfaction while operating at a lowest cost possible to achieve maximum profits. In the oil and gas industry supply-chain, the profitability of a firm is hinged upon its upstream suppliers and its downstream distributors as various forms of raw materials such as oil, fossil fuels, equipment, resources, finances, and information flow through from the top-tier parties all the way down to the customer. The customer is not only the average member of the public that is pumping fuel into their vehicle, but it can be airline companies, cruise-ships, plastic item manufacturers, independent gas stations, etc. Regardless of who is the end-user customer of the oil and gas firm, processes must be put in place to ensure that the supply chain surplus is maintained for all links in the supply chain, from the upstream drillers, down to the points of purchase for the consumer. Currently the price of oil has sharply dropped in the year 2015 and 2016 due to an overabundance of supply, and though a fear of scarcity was once a concern, that is not the case now. The main objective the oil and gas firms face are delivering the abundance of raw materials, going through the various production operations...
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...Low Oil Price In Malaysia | STEP 2 | Dissect | 1. Definition of oil and gas 2. The cause to low oil price 3. The impacts of low oil price to Malaysia economy 4. To know about the advantages and disadvantages of low oil price | STEP 3 | Select | Impacts of low oil price in Malaysia | STEP 5 | Formulate objectives | Main objective is to determine the impact of low oil price in Malaysia Specific objectives: 1. To determine the effect low oil price on people economy 2. To determine whether oil price has long term effect or short term effect on economy | STEP 4 | Raise question | 1. What are the impacts of low oil price on nation economy 2. How does the oil price affect people economy 3. Is oil price has long term effect or short term effect on economy? | SEVEN-STEP APPROACH STEP 6 | Make sure | Assess the objectives in Step 5 in terms of: 1. The work involved: * Find out 5 articles in the internet * Find other related topic from internet such as definition of oil and gas , the cause of oil and gas and to know about the advantages and disadvantages of oil and gas 2. The time available * I did the research after class finish and completed the task given usually at night 3. The financial resources at disposal * I spend my money to print out the report and for references I just took from internet and library. There is no cost for references. 4. Knowledge and expertise in the areaMy major is management. I have...
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...Corporate Governance 43 Financial Statements 49 2 010-11 was a challenging year for AWE shareholders and a year in which the Board and Management of the Company has been transformed. AWE completed the tail end of its major exploration program. The lack of major success over this two year program coincided with the global financial crisis, and the announcement of a new Carbon Tax and a new onshore Petroleum Resource Rent Tax in Australia. This combination of factors resulted in the Company’s share price underperforming. However, the Company has implemented changes to address its recent underperformance and to build a foundation for future growth and success. AWE is now in a sound financial position, with an excellent portfolio of diverse production assets delivering strong, long term cash flows. The Company’s strategy has been revised and a number of Board and Management changes have been implemented. The forward strategy will involve a greater technical and commercial focus aimed at maximising the value of the Company’s assets and delivering a profitable and sustainable future. AWE will pursue growth through selective exploration and acquisition opportunities. This will include opportunities in the broader energy industry as well as in conventional upstream oil and gas. The Company’s recent successful entry into unconventional gas through the Adelphi takeover represents an initial investment in the broader energy area. AWE appointed a new Chairman, Bruce Phillips...
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...Ratings) e) Advance Fire Fighting (for Officers ) f) Oil / Chemical / Gas Tanker Familiarization Course. g) Specialized training Programme on Oil / Chemical /Liquefied Gas Tankers h) Liquid Cargo Handling Simulator Course 2½ days (Operational level ) i) Liquid Cargo Handling Simulator Course 5 days (Management level ) j) Indos Receipt or Indos Certificate. k) Passport. 2. Application for Certificate ( Endorsement ) for service on Tankers for each Type of Tanker is to be applied separately 3. Applicant have to produce all the above mentioned certificates in original with valid medical certificate at the time of collection of DC Endorsement 4. Training Officers Rating Level 1 Basic Operational Level Support Level STCW 95 Appropriate Certificate of Competency Reg V /I para 1 Advanced Fire Fighting Course (STCW Code A-VI/ 3) Fire Prev. and Fire Fighiting Course ( STCW Code A-VI /1-2 ) Tanker Familiarization Course ( Oil /Chemical/ Liquified Gas Tanker) AND Liquid Cargo handling simulator course 2-½ Days (For Deck Officers on Tankers only) OR 3-months supervised shipboard service (Oil/Chemical/ Liquified Gas Tanker) Level 2 Advanced Management Level STCW 95 Appropriate Certificate of Competency Reg. V/1 para 2 Advanced Fire Fighting Course (STCW Code A-VI/3 Specialized Training programme on : Oil Tanker operations; OR Chemical tanker operation; OR Liquified gas tanker operations 3 months experience appropriate to...
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...The Power of Growth OAO Gazprom Annual Report 2014 Note. This Annual Report has been formed on the basis of Resolution No. 1 of OAO Gazprom’s Management Committee On Organization of Work Related to Holding the Annual General Shareholders Meeting dated 29 January 2015. The terms «OAO Gazprom», «Company» used in the Annual Report refer to the parent company of Gazprom Group, i.e. to Open Joint Stock Company Gazprom. «Gazprom Group», «the Group» or «Gazprom» imply OAO Gazprom and its subsidiaries taken as a whole. For the purposes of the Annual Report, the lists of subsidiaries and affiliates were prepared on the basis used in the preparation of OAO Gazprom’s consolidated accounting (financial) statements in accordance with the requirements of the Russian legislation. Similarly, the «Gazprom neft Group» and «Gazprom neft» refer to OAO Gazprom neft and its subsidiaries, «Gazprom energoholding» refers to OOO Gazprom energoholding and its subsidiaries, Gazprom neftekhim Salavat refers to OAO Gazprom neftekhim Salavat and its subsidiaries. In this Report “companies investments to which are classified as joint operations” define OAO Tomskneft VNC and Salym Petroleum Development N.V. The Annual Report also contains information related to Gazprom Group’s business activities in the future, based on the forecast and estimates of Gazprom’s management derived from the current situation. Actual results may differ from the said forecast and estimates due to the effect of various objective factors...
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...14/373624/PEK/19620 International Class B - Batch 64 MASTER OF MANAGEMENT PROGRAM FACULTY OF ECONOMICS AND BUSINESS UNIVERSITAS GADJAH MADA 2015 I. Introduction Hydrocarbon or popularly known as oil and gas, is widely used in almost all aspect of human needs, such as fuel in transportation and electricity, lubricants for machines, asphalt for road and also fertilizer in agriculture industry. Because of the importance of the oil and gas, the need of a drilling company’s services become increasing from time to time to support the upstream oil companies in exploring and also exploiting oil from the earth. In doing its business, a drilling company uses a lot of high technology during the exploration and exploitation phase. As we know, technology becomes one of key success factors within all companies. For drilling company, the use of technology is very important because drilling process involving high risk and also high cost process. High risk because the drilling operation is usually conducted in a remote area and it has high potential to explode if overall process goes wrong. Also sometimes, after drilling process has conducted, oil and gas cannot be found in that area. High cost because drilling process entails all of the consequences to focus giant machines and resources to certain area, usually an isolated area, to get the oil and gas. By virtue of its characteristics as non-renewable energy sources and with declining oil and gas fields, nowadays technological change in the industry...
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