may take over in demand because of unknown reasons. e.g. – petroleum industry made a wise decision by not sticking to the petrol products. They rather expanded to complete crude oil products to save themselves from the descent. 2. Idea of indispensability: the belief that there is no competitive substitute to the industry’s major product would be a huge mistake by the management. Here too‚ Levit carries forward the example of petroleum industry. The industry had to shift focus several times because
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Gulf Oil Spill ENV/100 February 27‚ 2012 Norma Turner Gulf Oil Spill The Deepwater Horizon oil spill is considered to be the largest accidental marine oil spill in the history of the petroleum industry. The spill occurred in the Gulf of Mexico on April 20‚ 2010. The spill was the result of the explosion of the Deepwater Horizon offshore drilling rig. When the rig exploded‚ it created a sea-floor gusher of oil that flowed freely for three months. It resulted in 11 people killed and
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Oil & Gas Sector Analysis Submitted to Dr. Atmanand In partial fulfilment of the requirements of the course Managerial Economics Submitted By GROUP 2 Ankita Chokraborty (13PGHR06) Arjun Parekh (13PGHR07) Ashim Gupta (13PGHR08) Atul Kohli (13PGHR10) B Vishnu Vardhan (13PGHR11) Tanya Mehta (13PGHR58) Acknowledgement Of the many people who have been enormously helpful in the preparation of this project‚ we are especially thankful to Dr. Atmanand‚ Professor‚ Economics
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OPEC Oil Embargo The Organization of Petroleum Exporting Countries (OPEC) was created in 1960 with the idea of unifying and protecting the interests of petroleum-producing countries. The members of this organization include: Iran‚ Iraq‚ Kuwait‚ Saudi Arabia‚ Venezuela‚ Qatar‚ Indonesia‚ Libya‚ The United Arab Emirates‚ Algeria‚ and Nigeria. Their goal was to slowly take over the function of the companies‚ at least in production‚ and then increase the amount of revenues they could retain. Despite
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Lê Tâm Trí BTBTIU12026 INTRODUCTION WHAT IS AN OIL SPILL? An oil spill is the discharge of a liquid petroleum hydrocarbon into the environment‚ especially marine areas‚ due to human activities‚ and is one form of pollution. An oil spill occurs when a vehicle‚ vessel‚ pipeline or drilling rig releases petroleum products into the environment uncontrollably. The first major oil spill on record happened when the Thomas W. Lawson schooner became beached in the
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Enhanced rehabilitation of tropical aquatic environment polluted with crude petroleum using candida utilis Okpokwasili‚ G. C. 1996. Microbial degradation of petroleum hydrocarbon by brackish water isolates in Nigerian Wetland Okerentugba. P. O. and Ezeronye‚ O. U. 2003. Petroleum degrading potentials of single and mixed microbial cultures isolated from rivers and refinery effluent in Nigeria. Ojo‚ O. A. (2006). Petroleum–hydrocarbon utilization by native bacterial population from a wastewater canal
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Table of Contents Crude oil......................................................................................................................................1 Ancient Civilisation ...................................................................................................................1 Politics of Black Gold.................................................................................................................1 Physical attributes of crude ...........................
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The Organization of the Petroleum Exporting Countries (OPEC)‚ inter-governmental organization‚ was established at the Baghdad Conference in Iraq in September 1960 by Iran‚ Iraq‚ Kuwait‚ Saudi Arabia‚ and Venezuela. These five countries were later joined by eight other countries; Qatar (1961)‚ Indonesia (1962)‚ Libya (1962)‚ United Arab Emirates (1967)‚ Algeria (1969)‚ Nigeria (1971)‚ Ecuador (1973)‚ and Gabon (1975). Ecuador and Gabon withdrew from OPEC in 1992 and 1994. The current eleven OPEC members
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MGMT 619: Capstone Spring 2011 Prof. Darrel Mank Prepared by: Kannan Ananthanarayanan Pranav Bhajiwala Foram Gandhi Kristine Garner Rajesh Goudar Venkat Iyer 1. WALL STREET JOURNAL ARTICLE AND THE EXECUTIVE SUMMARY ............................................................................ 1 WALL STREET JOURNAL ARTICLE.......................................................................................................................................
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TESTING YOUR COMPREHENSION 1) Why are fossil fuels our most prevalent source of energy today? Why are they considered nonrenewable sources of energy? Today‚ the three main fossil fuels that are in demand are oil‚ coal and natural gas. These fossil fuels are prevalent because they are efficient to burn‚ ship‚ and store based on high energy content. Fossil fuels also provide for our daily needs such as transportation‚ heating‚ cooking and electricity. Based on our current rates of consumption‚ we
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