TAX TREATMENT OF CARBON CREDIT OPERATIONS IN BRAZILIAN COMPANIES WITH CDM PROJECTS

Directory of Open Access Journals (Sweden)

Vanderlei dos Santos

2012-06-01

Full Text Available The aim in this study is to identify the tax treatment applied to carbon credit operations in Brazilian companies that are developing projects in the context of the Clean Development Mechanism (CDM. Therefore, an exploratory research with a qualitative approach was developed. Data were collected with the help of questionnaire, forwarded to all Brazilian companies with CDM projects that received approval from the Inter-Ministerial Commission on Global Climate Change (CIMGC without safeguards, according to the list of the Brazilian Ministry of Science and Technology. Out of 117 companies listed, only five answered the research instrument, which represents an accessibility sample. The results show that, as for the tax treatment applied in the companies under analysis, IRPJ and CSLL should be charged on carbon credit operations. Regarding PIS, COFINS, ISS, some companies considered that these taxes are due and others that they are not. There is a consensus, though, about the fact that ICMS and IOF should not be charged. In conclusion, no uniform understanding exists as of yet about due taxes in the research sample, as no specific fiscal legislation exists yet on carbon credits in Brazil.

Beyond the low-skill equilibrium? A case study of the local content policy in the Brazilian oil and gas industry

OpenAIRE

Melby, Maria

2015-01-01

This master thesis wishes to explore the labor market in the Brazilian oil and gas industry during the peak years of the oil boom, seen from Norwegian multinational companies (MNC) point of view. The theoretical perspective applied in the analysis is the hierarchical market economy (HME) typology, deriving from the varieties of capitalism (VOC) framework. In HMEs, the low-skill equilibrium is a prominent feature, in which none of the actors involved has incentives to invest in education and ...

ECONOMIC CONSEQUENCES OF PEAK OIL FOR THE MAJOR MULTINATIONAL OIL AND GAS COMPANIES

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Antonio García-Amate

2018-03-01

Full Text Available The main goal of this work is to analyze the financial statements of the five major multinational oil and gas companies, for the 2011-2015 period, in the framework of the peak oil phenomenon. Peak oil can affect key financial indicators (e.g., earnings volatility, leverage that are used by managers, investors, and stockholders and which may potentially lead to changes in the decision making by management. Our results show that the decline in oil production affects the decisions about investment in new oil wells, leverage, dividends paid, shares purchased and net income involving the five major companies. In addition, we study the evolution of oil prices, and its influence in several items of the financial statements. Even though oil prices were at high levels during 2011-2014, however, the net income of the five companies actually declined due to the impact of peak oil. Finally, data for the last year studied (2015 indicate a general deterioration in return ratios and other accounting variables. Although the new investments should have been profitable, they have been influenced by peak oil, compromising the economic position of the companies. The advice to these companies would be to relax their investments, especially during a period of falling oil prices. Company managers need to recognize the prolonged duration of peak oil and price trends to promote profitability recovery decisions.

Multinational Oil Companies and Corporate Social Responsibilities ...

African Journals Online (AJOL)

Niger Delta Region, Nigeria), the concept of corporate social responsibility must be fully imbibed by the multinational oil companies. Therefore, this study examines multinational oil companies and corporate social responsibilities with particular ...

Best Practices in Brazilian Companies

Directory of Open Access Journals (Sweden)

Catia dos Reis Machado

2013-04-01

Full Text Available Competitive intelligence (CI is a systematic and ethical collection, analysis, dissemination and management of information about the external environment that may affect the plans, decisions and operations of the organization. Knowledge management (KM can be seen as a tool to promote organizational knowledge through the use of activities designed to identify, create, store, share and use knowledge. Companies face a challenge in the era of knowledge, it is the extraction and management of knowledge produced by people in the organization. CI and KM combined generates organizational intelligence. The exploratory study, based on literature and multicase study, we sought to identify best practices in processes of CI and KM in Brazilian companies. We identified practices related to the CI design process, the stages of the CI, the use of networks, and knowledge management. We also identified, points of attention on the internal/external organizational environment.

The oil and gas sector in the brazilian economy

OpenAIRE

Guilhoto, Joaquim J.M.; Ichihara, Silvio Massaru; Postali, Fernando Antonio Slaibe

2007-01-01

This paper presents the results of a research conducted to measure the importance of the oil and gas complex in the Brazilian economy and in its states, henceforth called O&G. Initially, the efforts were concentrated on the construction of an interregional input-output system for the 27 states of the Brazilian economy at the level of 42 industries, for the year of 2002. By using this system, it was possible to make an analysis of the role played by the oil and gas complex in the Brazi...

Lifestyle factors, direct and indirect costs for a Brazilian airline company

NARCIS (Netherlands)

F.M. Rabacow (Fabiana Maluf); O. Do Carmo Luiz (Olinda); A.M. Malik (Ana Maria); A. Burdorf (Alex)

2014-01-01

textabstractObjective: To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. Methods: In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave

Happy oil companies

International Nuclear Information System (INIS)

Maincent, G.

2009-01-01

The decay of demand, the bad financial results of the first half of 2009 and the hypothetical depletion of reserves must not hide a reality: oil companies are passing through the economic crisis without much trouble. Even if profits have marked time in volume (-57% for BP, -65% for Shell..), the net margins have not significantly suffered and the available cash remains comfortable (14 billion euros for Total as an example). The perspectives offered by the new offshore sites (like Santos in Brazil) added to the fabulous promises of the Iraqi market where 'majors' can now make their come-back will be the key of success of oil companies. The overall exploration-production investments should start up again by the beginning of 2011. For the only offshore drilling domain, they should rise up by 32% during the 2009-2013 period which represents a sum of 367 billion dollars. (J.S.)

THE INTERNATIONALIZATION OF THE SOFTWARE MARKET: OPPORTUNITIES AND CHALLENGES FOR BRAZILIAN COMPANIES

Directory of Open Access Journals (Sweden)

Oscar Roberto Burzynski

2010-12-01

Full Text Available This paper deals with the potential for internationalization of the Brazilian software industry from the perspective of software developers and service providers. The purpose of the study conducted was to better understand the way Brazilian software companies relate to the international software market by comparing the perceptions of entrepreneurs and those of government agency officials responsible for increasing Brazil's participation in the international software market. Data collection took place by means of semi-structured interviews with entrepreneurs and government agency officials. The data gathered was subjected to content analysis. Results show that Brazilian software companies perform poorly with regard to levels of exporting their products and services for a number of reasons, among which the most outstanding is that they still think that the internal market offers enough challenges and opportunities.

Why the oil companies lost solar

International Nuclear Information System (INIS)

Miller, Damian

2013-01-01

Solar energy is a growing source of electricity supply. Oil companies including BP and Shell recognized this early on and entered the solar industry when it was still in its relative infancy. These companies invested heavily in vertically integrated solar companies that were at one point among the largest in the world. But neither BP nor Shell was successful, and they both decided to exit the solar market. This stands as a paradox since such companies have the funds, the long-term perspectives, the management systems, the multinational presence and the lobbying clout to potentially succeed in this new energy industry. Why were they not successful, and why did they ultimately exit? This paper uses innovation theory to explore the reasons why large incumbent corporations typically fail to succeed in commercializing disruptive innovations at scale. Evidence from semi-structured interviews and discussions with former employees of BP Solar and Shell Solar confirm the explanatory power of key constructs from innovation theory in accounting for the big oil companies' experience with solar technology. Ultimately, the findings suggest that oil companies would have done better to treat their solar businesses as separate stand-alone entities. - Highlights: • This paper examines why BP and Shell were not successful in solar, and exited. • It finds innovation theory to be very helpful in answering the question. • The evidence from semi-structured interviews, press reports, and archival documentation is in line with innovation theory. • Both the theory and the findings offer a different way forward for future oil and gas entrants

Budgeting practices: a study on Brazilian hotel companies

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Paula de Souza

2015-12-01

Full Text Available This study aims to explore the budgeting practices in the hotel companies of Brazil’s main tourist centers. The justification is oriented by the number of foreign tourists received by the top ten Brazilian tourist destinations, which reaches 95% of the country. Another motivation is the lack of research on hotel companies in developing countries, and it should also be considered that Brazil will host the World Cup in 2014 and the Olympic Games in 2016, which requires a suitable hotel structure to receive a large number of athletes and tourists. Thus, in order to achieve the purpose of this study, surveys were sent to the hotels associated with the Brazilian Association of the Hotel Industry (ABIH, with replies by 40 hotel companies. Descriptive statistics were applied to the results, in order to improve the basis for discussions. The results indicate that most of the hotels adopt corporate budgeting with bottom-up as main budgeting process. Research shows that budgets are developed, more frequently, using the results from previous years and economic indicators. In the performance evaluation, the comparative analysis, the analysis of the causes of deviations and adequacy measures are often applied. The analysis of variance is primarily directed at controlling costs/expenses, identifying potential problems and providing feedback for the next period.

CONDITIONS OF FORMING OIL COMPANY INNOVATIVE DEVELOPMENT MODEL

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A. N. Dmitrievsky

2012-01-01

Full Text Available Innovative development of contemporary RF oil industry enterprises and companies faces considerable difficulties. Main problems that hamper scientific and technological development and modernization of domestic oil companies are lack of demand for innovations, specific corporateculture of these companies and the country’s scientific and technological politics. Situation with advanced domestic technologies in the industry and their long-lasting and efficient use by Russian enterprises and companies is examined.

Regulation aspects of the restructuring of Argentine oil and gas sector. The Brazilian experiences; Aspectos regulatorios da reestruturacao do setor de oleo e gas argentino. Experiencias a observar no caso brasileiro

Energy Technology Data Exchange (ETDEWEB)

Luczynski, Estanislau; Paula, Claudio Paiva de [Sao Paulo Univ., SP (Brazil). Programa Interunidades de Pos-Graduacao em Energia]. E-mail: stasczenco@zipmail.com.br; clpaiva@mandic.com.br

1999-07-01

During the last years, some countries have reorganized their oil and gas sector. The reforms included the opening of national basins to exploration by foreign companies, and the association of a national oil company with a foreign one. Argentina was the first country in Latin America to reform its sector. The major action was the privatisation of YPF, in 1993. Some years later Brazil also begun the process of reforming the national oil and gas sector. The first step was promulgating a new petroleum law. This law created an agency to regulate the national sector during and after the reforms. The Brazilian restructuring model is based on the foreign ones. This paper aims at discussing whether or not the weakness those foreign models could be avoided. The idea is to learn from those experiences and to propose a national reform lead by the Brazilian society instead. (author)

Fair Information Principles of Brazilian Companies online privacy policies

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Patricia Zeni Marchiori

2016-05-01

Full Text Available This research aims to present the Fair Information Principles in the privacy policies of the websites of major Brazilian companies (according to the 2014 Forbes Magazine list. The check and analysis were supported by a checklist compiled from documents issued by the Federal Trade Commission and the Organization for Economic Co-operation and development. The study selected fourteen companies from a universe of twenty-five, considering the immediacy criterion of access to the privacy policy on their websites. The security (safeguards principle is the most widespread foundation at the privacy policies of the companies selected (existing in eight of the fourteen analyzed policies; and the principle of responsibility receives less adhesion due to the fact that it is not covered in any of the examined online privacy policies. The Sabesp Company presents the most complete privacy policy, considering the compliance with the Fair Information Principles when compared to the others perused, while WEG does not present any of the principles identified in the documental survey. As for e-commerce, the number of companies that assume some of the Principles is further reduced. For the selected universe the adherence to the Fair information Principles is still incipient, althought its use is not mandatory. An open discussion of the proposed Brazilian law about personal data protection should play an important role in creating further guidance on the subject. Additional studies in this subject should involve the perception of users, as well as a cutout of companies which target e-commerce, considering that an effective alignment with these principles and other guidelines are required in order to protect the user’s privacy and personal data in the web environment.

Project management as a competitive advantage for the internationalization of Brazilian companies

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Andre Luiz Spinelli Schelini

2017-12-01

Full Text Available This study focuses on three theoretical axes: project management (PM, internationalization of companies and the resource-based view (RBV. It aimed to analyze if, and in what way, PM maturity contributes to the international strategy of Brazilian companies from the RBV perspective. The research strategy adopted in three Brazilian companies constituted a multiple case study with a descriptive exploratory approach through intercase and intracase analysis. As an unprecedented result, the study identified five characteristics of mature project management: project sustainability, stakeholder engagement, goal setting and strategy, change management, and risk management. Furthermore, all of these contributed to the internationalization of the companies in question, with an impact on competitive advantage, considering the RBV-VRIO analysis. Thus, the study contributes to the field by aiding companies that are beginning or intend to begin internationalization processes, enabling them to obtain better results through PM. A limitation of the study is the small number of cases investigated, which may be viewed as an opportunity for conducting further studies.

The virtual oil company

International Nuclear Information System (INIS)

Garibaldi, C.A.; Haney, R.M.; Ross, C.E.

1995-01-01

In anticipation of continuing declines in upstream activity levels over the next 15 years, the virtual oil company model articulates a vision of fewer, leaner, but financially stronger firms that concentrate only on their core competencies and outsource the rest through well-structured partnering arrangements. Freed from the ''clutter,'' these leading companies will be in better position to focus on those opportunities that offer the potential for renewed reserve and revenue growth

Valuation of international oil- and gas companies

International Nuclear Information System (INIS)

Osmundsen, Petter; Mohn, Klaus; Espedal, Harald; Loevaas, Kjell

2002-01-01

In Norway, stock exchange quotation of Statoil has led to increased interest in valuation of oil companies. This article goes through the theory of corporate valuation. Then it compares the theory with practice, where valuation largely is built on accounts-based indicators. Taking the oil companies as a case, the article describes and evaluates the valuation methods used by analysts and investment banks

Foreign oil companies weathering Peru's political crisis

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that foreign oil companies are weathering Peru's political crisis, and the outlook for increased foreign participation in Peru's petroleum sector remains promising. There has been improvement in the political turmoil and soured international relations that followed President Alberto Fujimori's Apr. 5 suspension of Peru's Congress, charging political corruption and attempts to block his fiscal reforms. But there are fresh concerns over an increase in terrorism aimed at oil industry facilities by antigovernment guerrilla groups in Peru. Meanwhile, state-owned oil company Petroleos del Peru (Petroperu) continues efforts to sell assets as part of Fujimori's mandated privatization program. And foreign companies continue to grapple with uncertainty and bureaucratic red tape in chasing investment opportunities in Peru's beleaguered but opening petroleum sector

Stock Options Economic Determinants of Brazilian Listed Companies

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Isaac Gezer Silva de Oliveira

2018-01-01

Full Text Available It aim to identify the economic determinants that influence the use of stock options plans in Brazilian public companies listed on the Brazilian Securities, Commodities, and Futures Exchange (BM&FBovespa. Theoretically, the study relies on agency theory and corporate governance and executive compensation body of knowledge. Four research hypotheses were drawn concerning financial performance and corporate value; indebtedness; ownership concentration; and size. The sample was comprised of 100 companies with greater liquidity shares and volume for six years (from 2010 to2015.Data were examined from the logistic regression panel. The results lead to the rejection of the first and the fourth hypo the sesindicating, in the case of H1, that the higher financial performance the lower is probability of use stock options and, in the case of H4, that the higher size is related the lower is probability of use of stock options in their incentive plans for executives. The third hypothesis (H3 was not rejected, indicating that the ownership concentration relates negatively with the use of stock options. Regarding the second hypothesis (H2, the results did not present statistical significance indicating the absence of a relationship between indebtedness and the use of stock options. As a summary of the results it was found that the use of stock options tend to be used by lower companies, with lower ownership concentration and lower financial performance.

DETERMINANT FACTORS OF THE CAPITAL STRUCTURE OF BRAZILIAN TECHNOLOGY COMPANIES

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Camila Freitas Sant´Ana

2015-12-01

Full Text Available The purpose of this study is to identify determinant factors of the capital structure of Brazilian technology companies. The research was characterized as descriptive, document and quantitative, consisting of 21 companies in the communications, telecommunications and digital industry, according to the Exame magazine ranking. The analysis was established from 2009 to 2013 using panel data regression. The results indicate that the growth rate of capital and control type have a positive relationship with the general and long-term debt. However, it was found that company size, profitability and type of capital point to a negative relationship with the capital structure.

The Poisoned Chalice: Oil and Macroeconomics in Brazil (1967-2003)

Science.gov (United States)

Biasetto, Bruno Henz

This dissertation analyzes the development of the Brazilian oil industry and its impact on the economic development of Brazil from the beginning of the "Brazilian Miracle" (1968-1973) to the end of the Fernando Henrique Cardoso's second term as president (1995-2002). The dissertation explores the closely intertwined nature of Brazil's oil industry and its macroeconomic development, shedding new light on the history of Petrobras (the Brazilian state oil company), and on other key topics of Brazilian economic history, including the Debt Crisis of the 1980s and the role of neoliberalism in Brazil. The argument is that oil policy shaped the national economy and the Brazilian state in this period. Attention to the oil industry, and to Petrobras in particular, was crucial to the establishment of diplomatic and economic policy, and to conflict within the Brazilian state. Finally, this dissertation seeks to illuminate Brazil's place in the global oil industry and how that has shaped Brazil's global economic standing.

Restructuring: new relationships between the oil companies and the upstream oil firms

International Nuclear Information System (INIS)

Barreau, S.

2001-11-01

Since the 1986 oil shock, international oil companies have focused on their base competencies, concentrating on activities viewed as their core businesses and steadily increasing the number of tasks to be subcontracted to the upstream oil and gas service sector. The upstream oil and gas service companies had to be restructured to face this new challenge. The strategies they launched at the end of the 80's were varied. Some firms became largely integrated (Schlumberger, Baker Hughes, Halliburton) whereas other firms chose to broaden their range of services. However generally, they opted for external investment which led to an important wave of mergers and acquisitions. The first part characterizes the upstream oil and gas sector by introducing the main oil and gas service firms and their recent strategic evolution. This concludes with both an economic valuation and a typology of attempted growth strategies. To illustrate this, a matrix has been created to characterise the dynamic paths of the oil and gas service firms. The purpose of the second part is to consider the economic theories related to industrial strategies. The strategies of innovation, market protection, vertical integration and diversification have been studied to illustrate the main conclusion which is that the aim of all these strategies was to change the relationships between the oil companies and the upstream oil and gas service firms. (author)

Falling R and D in oil companies

International Nuclear Information System (INIS)

Creusen, H.; Minne, B.

2000-01-01

During the last decade, the research expenditures of the 11 major oil companies and two specialised oil engineers have dropped worldwide. To explain this trend, this article points to an R and D race among the companies and to certain common expectations. The race is due to the absence of knowledge spillovers across the companies, because they need to keep their process innovations secret. Common expectations regarding the high risks of research for new energy sources leads to wait-and-see behaviour instead of own research. A small increase in research efficiency partly compensates for the drop in R and D

The future of national oil Companies of OPEC

International Nuclear Information System (INIS)

Subroto.

1994-01-01

OPEC countries are dependent on their National Oil Companies for international trade, economy, technology transfer and social planning. With low oil prices, increasing demand and worsened financial and economic status, time has come to give priority to two major issues necessary for health existence and growth of our national oil companies : cost reduction through the application of new technologies and less support from public funds ; planning for future markets beyond national borders, particularly developing countries. (Author)

National Oil Companies: the view from Venezuela

International Nuclear Information System (INIS)

Rodriguez, M.

1994-01-01

National oil companies were key elements in the initial OPEC strategy and they brought a de-integration of oil industry. These companies have tried to move from crude marketing to product marketing through new investments at home and abroad in order to get higher value added and more secure markets for crude. Low prices bring new challenges. Venezuela's answers are strategic associations, operating contract for marginal fields and profit sharing agreements. (Author)

Valuation of international oil companies - size matters

International Nuclear Information System (INIS)

Mohn, Klaus

2005-01-01

According to economic theory, exploration and the development of new oil and gas fields should respond positively to increasing prices. But since the late 1990s, financial analysts have focused strongly on short-term accounting return measures, like RoACE (Return on Average Capital Employed), for benchmarking and valuation of international oil and gas companies. Consequently, the demands for strict capital discipline among oil and gas companies may have reduced their willingness to invest for future reserves and production growth. We investigate the presumed positive relation between RoACE and stock market valuation. Based on panel data for 12 international oil and gas companies for the period 1997-2002, we seek to establish econometric relations between market valuation on one hand, and simple financial and operational indicators on the other. Our findings do not support the perceived positive relation between reported RoACE and market-based multiples. Recent evidence also suggests that the stock market is increasingly concerned about reserve replacement and sustained profitable production growth. The current high-price, low-investment equilibrium is therefore hardly stable. (Author)

The role of transnational companies as oil suppliers to the United States

International Nuclear Information System (INIS)

Palazuelos, Enrique

2010-01-01

This paper analyzes the extent to which the international oil production of transnational companies meets the oil requirements of the United States. Disaggregated data from each company have been used to determine which companies (refineries) are importing crude oil, how much oil each transnational company is produced abroad, and where this production goes to. The analysis show that American international oil production represents a small part of U.S. oil imports. Two conclusions are reached. The first is that U.S. refineries buy the majority of the crude oil they process on the international market and, as a result, are dependent on the unstable conditions of this market. The second is that the economic interests the large American oil companies have abroad are far greater than those they have within the United States and, as a result, these companies do not play a decisive role in a national strategy to guarantee foreign supply.

Turning round the tanker: oil companies and corporate social responsibility

International Nuclear Information System (INIS)

Flynn-English, Teresa

1999-01-01

This article focuses on the conversion of oil companies to Corporate Social Responsibility (CSR), and their dialogue with charities after their reputations plummeted earlier in this decade, and traces this change in corporate culture and the restructuring of toil company operations to take into account CSR. The growing business for CSR consultants and ethical investment companies, the role of charities such as Oxfam in promoting CSR, the fact that most of the world major oil reserves are in countries with human rights problems, the potency of peer pressure, and the competitive disadvantages now attached to companies having a negative impact are discussed. It is questioned whether the cultural transformation is just another PR exercise, and the unbridgeable gap between environmentally friendly operations advocated by Greenpeace and oil company operations, and the CSR performance of the oil giants are considered. Details of the Nigerian experience, codes for companies, and the views of Greenpeace and Amnesty are given. (UK)

What if simulation for a Brazilian company regarding marketing budget

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Diogo André PINTO

2016-06-01

Full Text Available The article research is a case study regarding how to design the marketing budget for a small Brazilian company that started the activity one year ago. Taking into account the data that we gather, we decided to use What-if simulation. The case study is a simplified model representation of a company, adjusted according to the data that is released as target for the following year. In practice, the formulation of a scenario allows the construction of a hypothetical world that the analyst can see and navigate.

The rise and fall of an oil company

International Nuclear Information System (INIS)

Hanson, B.M.

1991-01-01

A tremendous amount of oil and gas reserves has been found. These reserves were discovered when geologists were in key positions. Exploration oriented leaders are not in key positions today. As with all living organisms, oil companies are governed by a life cycle which includes birth, adolescence, maturity, old age, and death. The life cycle of a company is characterized by its CEO/management team. During the birth of an oil company, a geologist and/or entrepreneur (leader) who has a desire to succeed is in charge. There are few tangible assets and the mortality rate is high. In the adolescence stage, the leader is willing to take high risks and is very receptive to new ideas. The discovery of company-making reserves are most likely to occur during this stage. During maturity, the key officer is usually an engineer who develops the newly found reserves. He has the desire to quantify exploration ventures in unrealistic, precise terms. Old age usually has a CPA as manager who prefers to take cash flow and transfer it to other businesses (diversification). The sale of properties starts in this stage. The last stage is death and the key officer is either a lawyer or a banker. The legal entanglement will start that inevitably plagues the cash-rich, asset-rich oil company. There is no residual expertise conducting exploration activity. We now have the liquidation of remaining assets and the company goes through mergers or sale

Unconditional conservatism in Brazilian public companies and tax neutrality

Directory of Open Access Journals (Sweden)

Juliana Pinhata Sanches do Vale

2017-03-01

Full Text Available ABSTRACT Law n. 11,638/2007 legitimized the International Financial Reporting Standards (IFRS adoption process in Brazil and introduced an accounting system detached from tax purposes in the country. This law aims to reduce the influence of tax law on accounting standards and improve the quality of financial reporting, as IFRS are considered to be higher quality standards. International literature shows a reduction in earnings quality in environments where accounting and tax rules are strongly linked. Moreover, the influence of tax legislation on financial accounting is seen to encourage unconditional conservatism, a bias with no advantages for financial market efficiency. Thus, tax neutrality is expected to provide a more favorable institutional environment for quality financial reporting by detaching corporate accounting from tax accounting. In light of the above, this study aims to verify whether the advent of tax neutrality influences unconditional conservatism in Brazilian public companies. The methodology used involves panel data regressions. The sample consists of non-financial publicly-traded companies with information published in Economática® covering 2002 to 2014. The results show differences in the relationship between taxation and financial reporting between firms that are subject to different levels of monitoring in the Brazilian stock market. Evidence of unconditional conservatism is only found in companies that are subject to greater market monitoring. In this group, it is observed that taxation does not induce unconditional conservatism in reported earnings, which is expected in a tax neutrality context.

Developments in the strategic planning of the major oil companies

International Nuclear Information System (INIS)

Jenkins, Gilbert

2000-01-01

This paper focuses on the changes in strategic planning of the major oil companies since the 1970s, and considers the reorganisations of the companies, and upstream and downstream planning. New directions for the major companies downstream operation in the retail and aviation sectors, and the influence of the BP/AMOCO/ARCO/BURMAH, EXXON/MOBIL and TOTAL/FINA/ELF mergers on the international oil industry are explored. Tables illustrating the earnings of the major oil companies for upstream and downstream operations, and chemicals in 1999, and for BP UK exploration and production, and refining and marketing profits (quarterly) for 1983-2000 are presented

Development Efforts Of Oil Companies As Perceived By Rural ...

African Journals Online (AJOL)

... that the host communities are highly satisfied with companies' efforts (projects and services) to them. Based on these findings, recommendations were made. Key words: Oil producing communities; oil exploration/production; company's development efforts; Journal of Agriculture and Social Research Vol.4(1) 2004: 60-71 ...

Overseas Investments by Chinese National Oil Companies

Energy Technology Data Exchange (ETDEWEB)

NONE

2011-07-01

This report examines inaccuracies in some commonly held views of China's National Oil Companies (NOCs). Until now, there has been little analysis to test the widely held presumption that these companies act under the instructions and in close co-ordination with the Chinese government. Nor have critics been challenged on the validity of their concerns about investments made by these NOCs, and how they could be blocking supplies of oil for other importing countries. The IEA analysis, however, finds that contrary to these views, the NOCs actually operate with a high degree of independence from the Chinese government, and their investments have in fact largely boosted global supplies of oil and gas, which other importers rely on.

Strategies of African national oil companies

International Nuclear Information System (INIS)

Auge, Benjamin

2017-09-01

The study and comparison of different National Oil Companies (NOC) help understanding the political history of Algeria, Nigeria and Angola. The NOC's role and activities depend on several economic and political aspects. For example, Angolan Sonangol has been the coffer for the Popular Movement of Liberation of Angola (MPLA) party to fund its struggle against the National Union for the Independence of Angola (UNITA) party during civil war. Hence the key role played by this NOC in the past and its continuing key influence today. In Nigeria, The Nigerian National Petroleum Corporation (NNPC) became more and more bureaucratic, its efficiency is questionable as the company became the epicentre of the corruption in the country (several cases regarding billions of dollars have emerged recently). By contrast, Algeria's Sonatrach has accumulated a real know how in exploring and producing oil and gas but several successive laws discouraged private sector investments. Algeria doesn't have the necessary technology for unconventional oil and gas exploration (notably shale oil and gas), neither the funds to develop all its huge geological potential

Money matters. Financial world looks at oil companies with Argus eyes

International Nuclear Information System (INIS)

Van Gool, M.

2008-01-01

The financial markets foresee high risks in the energy sector for the big, private oil companies such as ExxonMobil, Shell and BP. It appears that these companies are undervalued, In contrast, financial backers are justifiably positive about companies providing services to the oil sector, such as Schlumberger and Halliburton, and 'utilities', such as Eon and EDF, which still have considerable room for growth, The relatively high valuation of state-controlled oil and gas companies such as Gazprom is somewhat more speculative

The Role of Home Country Political Resources for Brazilian Multinational Companies

Directory of Open Access Journals (Sweden)

Karina Regina Vieira Bazuchi

2013-10-01

Full Text Available This paper aims to analyze the interactions between home country governments and Developing Country Multinational Companies (DMNCs. Drawing on evidence from the Brazilian political environment and Brazilian multinationals we investigate the mechanisms governments use to influence the internationalization process of domestic companies and firms’ political strategic responses to shape the political institutional environment in which they operate. We argue that foreign direct investment (FDI outflows from developing economies need to be explored given specific country level contextual factors, such as high levels of government involvement. Our main findings support this idea and indicate that home country governments use a series of formal and informal mechanisms in order to drive the international expansion of DMNCs in both the entry and consolidation phases. Moreover, DMNCs political behavior in the home country political environment accounts for an important part of their strategy to develop political resources and obtain above average returns from governmental benefits.

IFRS ADOPTION AND EARNINGS MANAGEMENT IN BRAZILIAN PUBLICLY TRADED COMPANIES

Directory of Open Access Journals (Sweden)

Roberto Midoguti Joia

2014-03-01

Full Text Available In 2007, Brazil adopted the International Financial Reporting Standards (IFRS. Studies involving publicly traded companies in different countries around the world indicate that these new standards tend to improve the information quality and make it more comparable and transparent. This study was aimed at verifying any changes in the earnings management levels after 2010 and whether this happened in function of the full adoption of the IFRS by the Brazilian publicly traded companies (except for financial institutions. The data were extracted from the three-monthly financial statements of the databases from Economática and the Brazilian Securities Commission for the period from 2006 till 2011. To achieve the research objectives, two tests were applied. The first showed that the average discretionary accruals, calculated through the Modified Jones Model, were lower after 2010. Next, the regression analysis was elaborated, using panel data with Newey-West’s correction. The results did not confirm the hypothesis that the adoption of the IFRS affected the earnings management level in the period under analysis, but showed that the size and indebtedness significantly explain the discretionary accruals, independently of the adoption of the IFRS. The results suggest that larger companies with a large proportion of own capital tend to produce higher quality reports, independently of the adoption of the IFRS.

National oil companies of South East Asia

International Nuclear Information System (INIS)

Singh, Gurdip

1998-12-01

Contains Executive Summary and Chapters on: Pertamina; Petronas; Petroleum Authority of Thailand; Philippines National Oil Company; Petro Vietnam; Myanmar Oil and Gas Enterprise; Singapore; Asean Free Trade Agreement, and Appendix on Petroleum tax legislation in the main south east Asian countries. (Author)

Ecological and Economic Indicators of Oil and Gas Companies Functioning

OpenAIRE

Anastasia V. Sheveleva

2016-01-01

This article analyzes the basic ecological-economic indicators of oil and gas companies, in particular the various volumes of oil, the number of spills per year of CO2 emissions, the costs of environmental protection. In the process of exploration, development and exploitation of oil and gas fields, production, refining, transportation and storage companies have a negative impact on the environment. Occur accidents involving oil spills, emissions and discharges of pollutants into the environm...

World oil and gas exploration trends: A comparative study of national and U.S. private oil companies

International Nuclear Information System (INIS)

Ghouri, S.S.K.

1991-01-01

This study hypothesizes that private oil companies and state-owned, national oil companies (NOCs) have different objectives and priorities and thus that different behavioral models are needed to explain changes over time in the level of exploration by these two groups of companies. More specifically, exploration by private companies is expected to be more sensitive to changing oil prices than exploration by NOCs. The study develops three different sets of expected determinants of change over time in the level of exploration (for private companies, and two groups of NOCs-oil importers and non-OPEC oil exporters). In the private-sector model, exploration is driven by expected determinants of profitability, such as oil prices and exploration costs. The NOC models also include national-priority variables, such as import dependency. The study then tests these behavioral models by specifying and estimating econometric models for the period 1970-1988 for 11 companies from the three company groups. Three econometric models are used: static, Koyck distributed lag, and Almon polynomial distributed lag models. The study concludes on the basis of three comparisons that different behavioral models are needed to understand changes in the level of exploration by private companies and NOCs. First, the private-sector model is estimated for all companies. For private companies, the private-sector model works well, whereas for the NOCs it does not, presumably because important determinants of NOC exploration are excluded from the model. Second, when these excluded variables are included in the specification, regression results for the NOCs improve significantly. Third, the private companies have higher elasticities of exploration in both the short run and long run than the NOCs

Influence of Brazilian vegetable oils on mechanical resistence of hair fiber

Directory of Open Access Journals (Sweden)

Maria Valéria Velasco

2015-02-01

Full Text Available Associating the global trend of incorporating active compounds and plants in cosmetic formulations and the vast Brazilian biodiversity, the present work aimed to study the incorporation of Brazilian vegetable oils in hair conditioner formulations, evaluating the mechanical resistance of hair fibers. The following oils were incorporated into base formulations at 5.0 % (w/w: babassu, buriti, andiroba and pequi. The formulations were applied to samples of Caucasian hair, followed by several washing steps, then the evaluation of mechanical strength. It was found that there was no statistically significant difference in mechanical resistance between samples treated with oils and the control between the first and seventh wash cycles. This fact can be explained by the possible low penetration of oils into the cortex, a region responsible for the mechanical properties of the hair fiber, since the grease composition disfavors its diffusion. The common effects of vegetable oils on the cuticle, such as filling in cracks or cavities, lubrication, and increased protein hydrophobicity cannot be excluded. The oils tested in this work were not able to raise or protect hair tresses. However, additional studies are required in order to establish the effects of oil treatments, particularly in damaged hair.

The Importance of the Oil and Gas Complex for the Brazilian Economy and Its States

OpenAIRE

Guilhoto, Joaquim Jose Martins; Ichihara, Silvio Massaru; Postali, Fernando Antonio Slaibe

2006-01-01

This paper presents the results of a research conducted to measure the importance of the oil and gas complex in the Brazilian economy and in its states. Initially, the efforts were concentrated in the construction of an interregional input-output system for the 27 states of the Brazilian economy at the level of 42 industries, for the year of 2002. Using this system it was possible to make an analysis of role played by the oil and gas complex in the Brazilian economy and its states. First it i...

New business models for state companies in the oil industry

Directory of Open Access Journals (Sweden)

Tanţău Adrian D.

2016-09-01

Full Text Available In the scientific literature business models are defined as architecture of the value creation, profit formula, key processes and key resources. For the oil industry there is a need to develop new business models that have to describe the specificity of this industry and to take into consideration the new objectives after the global oil crisis. Although crude oil price has dropped dramatically since second quarter 2014, OPEC raised crude output to the its highest value in more than three years as it pressed on with a strategy to protect market share and pressure competing producers. The objective of this article is to identify and promote new business models for state companies in the oil industry. The research methodology is based on case studies that present and analyze the business models in two of the main oil producers Iran and Iraq, where the state companies are playing an important role in this industry. The subject is relevant because the business models for state companies in the oil industry have to be modified after the oil crisis and these are not real analysed in the scientific literature. Furthermore, the aspects discussed in the current article represent the main factors that will influence investment prospects of companies in the field in the next decade.

Oil and Cars: The Impact of Crude Oil Prices on the Stock Returns of Automotive Companies

Directory of Open Access Journals (Sweden)

Bettina Lis

2012-01-01

Full Text Available In this paper we are testing whether the impact of oil prices is different on the overall market and automotive companies. In addition we investigate, if this relationship is nonlinear. For this we use stock return data of US, German and Japanese car companies, and returns of share indices from the same countries as control variables, and Brent crude oil price changes. We first estimate the impact of crude oil on the indices, then clean the indices from these influences, and afterwards estimate the impact on the stocks. For this we are using OLS and EGARCH (1,1. We conclude that in general the car companies‘ stocks do not react more adversely as the overall market to crude oil price increases, while Japanese companies do not show any excess sensitivity at all. German companies tend to be sensitive, and US and German companies are together more sensitive in the more recent time periods.

Development of taxation system for oil production companies in Russia

Science.gov (United States)

Salmina, S. V.; Sboeva, I. M.; Selivanovskaya, J. I.; Khafizova, A. R.; Fomin, V. P.

2018-01-01

The present article is devoted to the taxation system for oil production companies in Russia. The role of oil production companies in the realization of the fiscal function of the state is shown. Tax and due receipts at the consolidated budget of the Russian Federation from major economic sectors in the years 2013-2015 are presented and analysed. An investigation of oil production taxation peculiarities is carried out. In particular, mineral extraction tax analysis is made, the said tax being one of the basic taxes paid by oil production companies. The authors come to a conclusion that mineral extraction tax in Russia needs reforming. Based on the investigation realized possible ways of taxation system development in respect of oil production companies in Russia are proposed. Thus, taking into account the fact that oil industry is very important for budget revenue formation, initially it is planned to test the new taxation system principles in a limited number of deposits, so called ‘pilot projects’. For highly profitable minefield deposits it is planned to introduce progressive and regressive index, varying depending on oil prices. Within the framework of the investigation the authors come to a conclusion that it is necessary to introduce gradually the taxation system based on the definition of surplus profit depending on the cost effectiveness and taking into account oil prices.

Lifestyle factors, direct and indirect costs for a Brazilian airline company

Science.gov (United States)

Rabacow, Fabiana Maluf; Luiz, Olinda do Carmo; Malik, Ana Maria; Burdorf, Alex

2014-01-01

OBJECTIVE To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. METHODS In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave and healthcare were the primary outcomes of interest. Information on the independent variables, such as gender, age, educational level, type of work, stress, and lifestyle-related factors (body mass index, physical activity, and smoking), was collected using a questionnaire on enrolment in the study. Data on sick leave days were available from the company register, and data on healthcare costs were obtained from insurance records. Multivariate linear regression analysis was used to investigate the association between direct and indirect healthcare costs with sociodemographic, work, and lifestyle-related factors. RESULTS Over the 12-month study period, the average direct healthcare expenditure per worker was US$505.00 and the average indirect cost because of sick leave was US$249.00 per worker. Direct costs were more than twice the indirect costs and both were higher in women. Body mass index was a determinant of direct costs and smoking was a determinant of indirect costs. CONCLUSIONS Obesity and smoking among workers in a Brazilian airline company were associated with increased health costs. Therefore, promoting a healthy diet, physical activity, and anti-tobacco campaigns are important targets for health promotion in this study population. PMID:26039398

Lifestyle factors, direct and indirect costs for a Brazilian airline company.

Science.gov (United States)

Rabacow, Fabiana Maluf; Luiz, Olinda do Carmo; Malik, Ana Maria; Burdorf, Alex

2014-12-01

OBJECTIVE To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. METHODS In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave and healthcare were the primary outcomes of interest. Information on the independent variables, such as gender, age, educational level, type of work, stress, and lifestyle-related factors (body mass index, physical activity, and smoking), was collected using a questionnaire on enrolment in the study. Data on sick leave days were available from the company register, and data on healthcare costs were obtained from insurance records. Multivariate linear regression analysis was used to investigate the association between direct and indirect healthcare costs with sociodemographic, work, and lifestyle-related factors. RESULTS Over the 12-month study period, the average direct healthcare expenditure per worker was US$505.00 and the average indirect cost because of sick leave was US$249.00 per worker. Direct costs were more than twice the indirect costs and both were higher in women. Body mass index was a determinant of direct costs and smoking was a determinant of indirect costs. CONCLUSIONS Obesity and smoking among workers in a Brazilian airline company were associated with increased health costs. Therefore, promoting a healthy diet, physical activity, and anti-tobacco campaigns are important targets for health promotion in this study population.

Lifestyle factors, direct and indirect costs for a Brazilian airline company

Directory of Open Access Journals (Sweden)

Fabiana Maluf Rabacow

2014-12-01

Full Text Available OBJECTIVE To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. METHODS In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave and healthcare were the primary outcomes of interest. Information on the independent variables, such as gender, age, educational level, type of work, stress, and lifestyle-related factors (body mass index, physical activity, and smoking, was collected using a questionnaire on enrolment in the study. Data on sick leave days were available from the company register, and data on healthcare costs were obtained from insurance records. Multivariate linear regression analysis was used to investigate the association between direct and indirect healthcare costs with sociodemographic, work, and lifestyle-related factors. RESULTS Over the 12-month study period, the average direct healthcare expenditure per worker was US$505.00 and the average indirect cost because of sick leave was US$249.00 per worker. Direct costs were more than twice the indirect costs and both were higher in women. Body mass index was a determinant of direct costs and smoking was a determinant of indirect costs. CONCLUSIONS Obesity and smoking among workers in a Brazilian airline company were associated with increased health costs. Therefore, promoting a healthy diet, physical activity, and anti-tobacco campaigns are important targets for health promotion in this study population.

The oil companies' move toward energy

International Nuclear Information System (INIS)

Burucoa, X.

1999-01-01

The oil companies have taken advantage of the deregulation of the energy market to extend their core business. By choice or by necessity, they are becoming multi-energy suppliers. Their level of investment in the renewable energy sector goes to show that the trend is a lasting one. The other energy sector companies, whether they are partners or competitors, cannot remain indifferent to this development

Companies: oil and gas industry on the up

International Nuclear Information System (INIS)

Burk, V.A.

1994-01-01

The results of a 1993 survey of the oil and gas industries in the USA are reported. Exploration and development spending and production replacement rates increased for the first time since 1990 while reserve replacement costs were at their lowest for five years. Data demonstrating these improvements are included. The information is drawn from 250 publicly owned oil and gas companies, 28 of which have headquarters outside the USA. A ranked list of the ''Top 100'' companies is presented, detailing: oil and gas reserves and production revenues; results of operations from producing activities; acquisition, exploration and development expenditures; reserve and production replacement costs. (UK)

Brazilian energy statistics - 1993. Annual bulletin of the Brazilian Committee of the World Energy Council

International Nuclear Information System (INIS)

1993-01-01

This bulletin deals with the primary sources that carry most weight in the Brazilian energy balance: hydraulic energy, petroleum, natural gas and coal. It contains data on ethyl alcohol derived from sugar cane since it is of special importance in Brazil's energy scenario. Some aspects about the opening or closing of the oil sector are also analysed, including the petroleum and petroleum products business; oil consumption issue; share of energy sources in world scenarios for the year 2020; reserves; prices and investments and the vulnerability of private companies. 12 figs., 16 tabs

National oil companies' presence to hike US refining competition

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that the downstream segment of the U.S. petroleum business is virtually certain to become more competitive because of the growing presence of national oil companies in the country's refining industry. That's a forecast by New York investment firm Kidder Peabody. It cites a plan by Mexico's Petroleos Mexicanos (Pemex) to form a joint venture with Shell Oil Co. covering Shell's 225,000 b/d Deer Park, Tex., refinery as the latest example of national oil companies' movement into U.S. refining

Information asymmetries, information externalities, oil companies strategies and oil exploration information efficiency

International Nuclear Information System (INIS)

Nyouki, E.

1998-07-01

Both for economics (in general) and energy economics matters, it is important to reach oil exploration efficiency. To achieve this aim, a pragmatic approach is to use the concept of information efficiency which means that the different tracts have to be drilled in the decreasing order of estimated profitabilities, estimations being made on the basis of the best (in the sense of reliability) available information. What does 'best available information' mean? It corresponds either to the information held by the most experienced oil companies (due to the existence of information asymmetries to the profit of these companies), or to information revealed by the drilling and which allows to revise probabilities of success on neighboring tracts with similar geological features (due to the existence of information externalities). In consideration of these information asymmetries and externalities, we will say that exploration is information efficient when. -- on the one hand, initial exploration choices are directed by the most experienced companies, - and, on the other hand, during the drilling phase, in the face of the information externality, companies adopt a sequential drilling, i.e. excluding both over-investment and strategic under-investment. The topic we deal with in this thesis is then to know if oil companies, when they are put in normal competition conditions, are likely to make emerge a state of information efficiency in exploration, the analysis being conducted theoretically and empirically. (author)

Oil prices and the stock prices of alternative energy companies

International Nuclear Information System (INIS)

Henriques, Irene; Sadorsky, Perry

2008-01-01

Energy security issues coupled with increased concern over the natural environment are driving factors behind oil price movements. While it is widely accepted that rising oil prices are good for the financial performance of alternative energy companies, there has been relatively little statistical work done to measure just how sensitive the financial performance of alternative energy companies are to changes in oil prices. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between alternative energy stock prices, technology stock prices, oil prices, and interest rates. Our results show technology stock prices and oil prices each individually Granger cause the stock prices of alternative energy companies. Simulation results show that a shock to technology stock prices has a larger impact on alternative energy stock prices than does a shock to oil prices. These results should be of use to investors, managers and policy makers. (author)

Getting the oil to the shore

Energy Technology Data Exchange (ETDEWEB)

Menin, J.A.; Meuter, P.

2006-03-15

Conveying highly corrosive fluids - hot water dissolved in salt and sulfide - is just one aspect of getting oil from the field to the shore. Brazilian oil company Petrobras had a requirement for high pressure pumps that could handle high viscosity fluids at its Campos off-shore oil field and be easily maintained. Joao Alberto Menin, Paul Meuter explains how Sulzer Pumps rose to the challenge. (author)

The thinking of Cloud computing in the digital construction of the oil companies

Science.gov (United States)

CaoLei, Qizhilin; Dengsheng, Lei

In order to speed up digital construction of the oil companies and enhance productivity and decision-support capabilities while avoiding the disadvantages from the waste of the original process of building digital and duplication of development and input. This paper presents a cloud-based models for the build in the digital construction of the oil companies that National oil companies though the private network will join the cloud data of the oil companies and service center equipment integrated into a whole cloud system, then according to the needs of various departments to prepare their own virtual service center, which can provide a strong service industry and computing power for the Oil companies.

Happy oil companies; Heureux petroliers

Energy Technology Data Exchange (ETDEWEB)

Maincent, G

2009-08-27

The decay of demand, the bad financial results of the first half of 2009 and the hypothetical depletion of reserves must not hide a reality: oil companies are passing through the economic crisis without much trouble. Even if profits have marked time in volume (-57% for BP, -65% for Shell..), the net margins have not significantly suffered and the available cash remains comfortable (14 billion euros for Total as an example). The perspectives offered by the new offshore sites (like Santos in Brazil) added to the fabulous promises of the Iraqi market where 'majors' can now make their come-back will be the key of success of oil companies. The overall exploration-production investments should start up again by the beginning of 2011. For the only offshore drilling domain, they should rise up by 32% during the 2009-2013 period which represents a sum of 367 billion dollars. (J.S.)

Ecological and Economic Indicators of Oil and Gas Companies Functioning

Directory of Open Access Journals (Sweden)

Anastasia V. Sheveleva

2016-01-01

Full Text Available This article analyzes the basic ecological-economic indicators of oil and gas companies, in particular the various volumes of oil, the number of spills per year of CO2 emissions, the costs of environmental protection. In the process of exploration, development and exploitation of oil and gas fields, production, refining, transportation and storage companies have a negative impact on the environment. Occur accidents involving oil spills, emissions and discharges of pollutants into the environment. As a result contaminates water resources, soil and atmosphere, animals dying, birds and fish, but also transformed the structure of the subsurface and changes the landscape, reduced strategic reserves of fuel and energy resources are formed objects of accumulated environmental damage. The need for construction of environmental protection facilities; the protection, rational use and rehabilitation of lands; protection of water resources and atmospheric air; monitoring the environment and industrial facilities; the prevention and elimination of consequences of accidents on pipelines; disposal and recycling of waste; environmental education; conducting scientific research requires oil and gas companies to undertake large expenditures. A positive trend of modern development of oil and gas companies is the introduction of mechanisms for environmental management in practice their activities, which leads to a gradual reduction of the negative impact of their activities on the environment.

Programs of quality improvement: an exploratory study in large Brazilian construction companies

Directory of Open Access Journals (Sweden)

Silvia Helena Boarin Pinto

2009-03-01

Full Text Available This article aims to identify the major characteristics of the implementation of quality programs in large construction companies in Brazil. This study focuses on the most accepted and implemented models such as ISO 9000:2000, ISO 14001, Six Sigma and Total Quality Management (TQM. An exploratory study was carried out in seven large companies (approximately 37% of the total number. These companies were chosen from the “500 Largest and Best Brazilian Companies” list, published by Exame Magazine, in 2005, out of a total number of 15 large companies in the sector. The indings of this study show that the companies have been implementing quality programs, have been using more basic quality tools, and have been dificulty accounting resources that come from the implementation of quality programs.

Valuation of oil companies - Implications for corporate behaviour

International Nuclear Information System (INIS)

Osmundsen, Petter

2002-06-01

The report discusses control signals given by the stock market to listed companies and relates this to agency theory. Oil companies are used as a case. The market responds to financial signals from the companies. The market response on various financial indicators represents an implicit incentive scheme for the companies. This is described and the adaptation of the companies is discussed. In addition, the report deals with the significance of a threat of acquisition, and private vs. public ownership

Dietary Brazilian red pepper essential oil on pork meat quality and lipid oxidation

Directory of Open Access Journals (Sweden)

Franz Dias Gois

Full Text Available ABSTRACT: The purpose of this study was to evaluate the effects of feeding pigs with diets containing increasing levels of Brazilian red pepper essential oil ( Schinus terebinthifolius Raddi on the physical attributes, fatty acid profile and oxidative stability of precooked meat. Seventy-two weanling pigs (5.7±0.8kg were allotted in a completely randomized block design experiment with four treatments, six replicates per treatment, and three animals per experimental unit (pen. Animals were fed with a basal diet supplemented with 0, 500, 1,000, or 1,500mg kg-1 Brazilian red pepper essential oil during the 35-d experimental period. At the end of the experiment, one animal per experimental unit (16.4±2.2kg was slaughtered to sample Longissimus dorsi muscle for analysis. Dietary supplementation of Brazilian red pepper had no effect (P>0.05 on pork meat color, pH, cooking loss and shear force. Inclusion of essential oil in the diet provided a linear increase (P<0.05 of the saturated fatty acids content of L. dorsi, especially myristic (C14:0 and stearic (C18:0 fatty acids. Utilization of essential oil in pig diets reduced significantly the production of secondary lipid oxidation compounds measured as TBARS in raw pork meat (P<0.001 and immediately after cooking (P<0.001. However, during 8-d storage assay, the addition of essential oil in the diet did not protect pork meat lipids from oxidation. Therefore, Brazilian red pepper added to pig diets increased the saturated fatty acids content and reduced lipid oxidation in fresh meat and short-term heat treatment without affecting pork meat physical attributes.

Oil company mergers raise concern among some geoscientists

Science.gov (United States)

Showstack, Randy

With the blessings of the antitrust regulatory agencies and the ghost of John D. Rockefeller, the proposed marriage between Exxon and Mobil would create the world's largest energy company and corporation of any type. This merger also would reunite the two biggest pieces of Rockefeller's Standard Oil Company, which the U.S. Supreme Court ordered dismantled in 1911 in an antitrust case.Exxon, Mobil, and financial analysts say the merger is driven by the need to operate more efficiently in a tough, competitive environment. The price of oil, after all, recently has been scraping near bottom of the barrel at about $11 per barrel, and companies often need to muster significant capital resources to develop more remote reservoirs.

Brazilian sugarcane ethanol as an expandable green alternative to crude oil use

Science.gov (United States)

Jaiswal, Deepak; de Souza, Amanda P.; Larsen, Søren; Lebauer, David S.; Miguez, Fernando E.; Sparovek, Gerd; Bollero, Germán; Buckeridge, Marcos S.; Long, Stephen P.

2017-11-01

Reduction of CO2 emissions will require a transition from fossil fuels to alternative energy sources. Expansion of Brazilian sugarcane ethanol provides one near-term scalable solution to reduce CO2 emissions from the global transport sector. In contrast to corn ethanol, the Brazilian sugarcane ethanol system may offset 86% of CO2 emissions compared to oil use, and emissions resulting from land-use change to sugarcane are paid back in just 2-8 years. But, it has been uncertain how much further expansion is possible given increasing demand for food and animal feed, climate change impacts and protection of natural ecosystems. We show that Brazilian sugarcane ethanol can provide the equivalent of 3.63-12.77 Mb d-1 of crude oil by 2045 under projected climate change while protecting forests under conservation and accounting for future land demand for food and animal feed production. The corresponding range of CO2 offsets is 0.55-2.0 Gigatons yr-1. This would displace 3.8-13.7% of crude oil consumption and 1.5-5.6% of net CO2 emission globally relative to data for 2014.

Strategic alliance in technological development and innovation: Performance evaluation of co-creation between companies and their supply chain

Directory of Open Access Journals (Sweden)

Luiz Otavio Monteiro

2013-07-01

Full Text Available Purpose: The Brazilian oil and gas market presents a perspective of growth in the next decades. Considering this scenario, the increasing number of participants in this supply chain is foreseen to supply the demand of goods and services, especially in the technological development area. The paper intends to evaluate the collaborative development capacity and respective measurements of performance on these partnerships established between customer and suppliers, through qualitative research with a sample of Brazilian oil and gas market representative. Design/methodology/approach: This paper intends to verify if the co-creation performance is measured after an implementation, specific in a restricted industry. The methodology consists in a bibliographical research to support the study, and it also had a questionnaire sent to Brazilian companies that take part of the oil and natural gas industry supply chain, to analyze if the results of co-creation activities are measured by this group of companies, to verify its attractiveness to develop the co-creation usage or change the type of partnership with the market. Findings and Originality/value: The misunderstanding of co-creation and technical partnership was noticed. The usage of teams working together from two or more organizations cannot be considered as a co-creation, because the relationship and obligations are different between these two ways of workgroup. But the companies of oil and gas industry, when questioned, were able to distinguish it, avoiding risks of incorrect results motivated by wrong interpretation of the paper content. Research limitations/implications: As related in the paper, eight companies were invited to take part on the questionnaire about co-creation, but only 50% answered it. The research should have a better result of this subject if it had been developed with more answers of Brazilian oil and gas industry companies. Originality/value: Even this kind of partnership is

Relationship between determinant factors of disclosure of information on environmental impacts of Brazilian companies

Directory of Open Access Journals (Sweden)

Mara Vogt

2017-01-01

Full Text Available This study aims at analyzing the relationship between determinant factors of disclosure of information on environmental impacts of Brazilian companies. A descriptive, documental and quantitative research was conducted through a sample of 97 Brazilian companies. In the Sustainability Reports and in the Annual Reports information, five environmental aspects were collected: emissions, effluents, wastes, products and services; and transport, which were used to measure the degree of environmental disclosure. This concludes that there is a relationship between the variables investigated in all analyzed years. The size, audit and Global Reporting Initiative (GRI are associated with disclosure and the Corporate Sustainability Index (CSI, Pollution Potential (POTEN, governance, stocks, Return on Assets (ROA and Return on Equity (ROE are not.

COMPARATIVE EVIDENCE ABOUT KNOWLEDGE TRANSFER BETWEEN BRAZILIAN AND FOREIGN FRANCHISE COMPANIES

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Rogério Stival Morgado

2012-01-01

Full Text Available The objective of this study is to compare the process of transferring knowledge in franchising between Brazilian and international companies operating in Brazil. Franchising has shown an important phenomenon in many countries, with considerable evidence of growing globally. It is a new type of business organization as an object of academic research field offering great reviews, but also limitations as references and studies of depth of field. The traditional literature in management emphasis on franchising, in large part to its importance as a way to circumvent resource constraints, as their characteristics and definition of business practices among its different parts. The transfer of knowledge in franchising is still a gap especially among companies in different countries. In addition, we adopted a methodology that this study followed a qualitative research with in-depth interviews of franchisees. The results show that Brazilian firms oriented transfer of knowledge in franchising for more lawsuits based on tacit knowledge, thus using more informal and less number of transfer mechanisms in these processes. International companies operating in Brazil for franchising rely on formal processes with periodic meetings, training and technological resources, and therefore have a greater control over the process of transferring knowledge to the franchised units. Thus, this study seeks to help we better understand franchising, development processes and their expansion in emerging markets like Brazil.

The energy efficiency of crude oil refining in Brazil: A Brazilian refinery plant case

International Nuclear Information System (INIS)

Lima, Romulo S. de; Schaeffer, Roberto

2011-01-01

This article evaluates energy efficiency in Brazilian crude oil refining in comparison with the crude oil refining in the United States between 1930 and 2008. It aims to show that increased refinery complexity reduces the energy consumption of products of high value added. Moreover, the article shows that improvements in energy efficiency result in higher quality products and increased processing of oil. A Brazilian refinery with a capacity of 157,000 barrels per day (kbpd) was modernized in 2008 at a cost of US $1.3 billion. As a result, its capacity increased by 17%, from 157 to 189 kbpd. Its complexity index also rose from 3.2 to 6.8, allowing an improvement in the EII (energy intensity index) from 110% to 93%. In relation to the crude oil processed before being modernized, energy consumption fell from 0.75 to 0.52 MBtu (million British thermal units) per barrel processed. These proceedings show that increases in complexity reduce the energy consumed in the production of final products with high value added, such as gasoline, diesel and jet fuel. -- Highlights: → Increased refinery complexity reduces the energy consumption of products of high value added. → Improvements in refinery energy efficiency result in higher quality products and increased processing of oil. → Brazilian refineries were not affected significantly in the 2008 crisis, such as the US refineries, due to many factors. → The EII of Brazilian refining presents real opportunities for gains through changes in the profile of energy consumed.

Sustainability Efforts of One Oil Company in Niger Delta of Nigeria

Science.gov (United States)

Anosike, Charles Afam

Environmental degradation and socioeconomic dilemma continue to stigmatize oil production in the Niger Delta of Nigeria. Sustainability programs of oil companies often determine the improvement of living conditions in the region. This explanatory qualitative case study, guided by systems thinking theory and sustainable value framework, explored practitioners' perceptions of sustainability programs to identify its impact on business and the host communities. The research question was designed to address how sustainability efforts of a single oil company in the Niger Delta contributed to the business performance and the livelihood of the local people. Research data were gathered from a sample of 20 experienced sustainability practitioners of the oil company, partnering nonprofit organizations, and community leaders through face-to-face semistructured interviews. Data were segmented and categorized. The data analysis process revealed several themes regarding the challenges and shortfalls of sustainability programs in the region. The oil company's understanding of sustainability as programs and projects focused on preserving resources for future generations was not evident in practice. Findings from the study suggested the need for improved inclusiveness of people in driving sustainability projects. Inclusive sustainability should enhance the oil company's contemplation mechanism to ensure eco-saving thinking and processes, which could result in improved quality of life and business performance in the region. The research findings underscore the need for oil multinational corporations (MNCs) to use a business lens in viewing sustainability to achieve sustainable value.

Cleaner Production: A Growing Movement in Brazilian Companies

Directory of Open Access Journals (Sweden)

Oduvaldo Vendrametto

2010-03-01

Full Text Available Cleaner Production (CP is gaining emphasis in both world and Brazilian production sectors. Nature’s warnings indicating the exhaustion of any capacity to absorb and regenerate waste, stricter legislation regarding pollution emitters, market competitiveness associated with environmental and social responsibility cause concerns and lead to actions to reduce aggressions against the environment. This paper shows evidence of this concern and presents cases in which a large automotive industry, acting as a partner to suppliers, promotes changes in how it delivers its products, eliminating large cardboard, plastic and wood packaging. A small company had a similar initiative, reducing the use of cardboard and plastic packaging. More important is the revelation of a widely dispersed, yet growing and incremental movement of responsibilities among companies.The benefits of cleaner production implementation were evaluated by confronting environmental and financial assessment. For the ambient evaluation, it will be used methodology of Material Intensity (Wuppertal Institute, a.

The six sigma program: an empirical study of brazilian companies.

OpenAIRE

Carvalho, Marly Monteiro de; Ho, Linda Lee; Pinto, Silvia Helena Boarin

2014-01-01

Purpose – The purpose of this paper is to assess the status of Six Sigma's status in Brazilian companies and understand the integration of this program with other quality management approaches. Additionally, the critical success factors (CSFs) for Six Sigma implementation and primary Six Sigma program characteristics were identified. Finally, the results of the used of Six Sigma were analysed. Design/methodology/approach – An extensive literature review illustrates the primary Six Sigma c...

Determinants of Audit fees by Brazilian Companies Publicly Traded

Directory of Open Access Journals (Sweden)

Victor Placeres Borges

2017-08-01

Full Text Available The studies on the determinants of audit fees in Brazil became possible with the mandatory disclosure of audit expenses in 2009. Thus, the objective of this research was to identify the determinants of the fees paid by Brazilian publicly traded companies to independent auditors in 2010 to 2014. The analysis took place through regression with data arranged in panel. Size, performance, complexity, audit firm size, adoption of corporate governance practices, audit rotation, industry and litigation risks have all been found to have an impact on the fees. Therefore, the aspects that can be used by companies for the purpose of information management or that require more auditing timefor signaling points of greater risks are highlighted. In addition, understanding the determinants allows companies to plan future expenditures with audit fees and assists regulators and inspectors in defining and comparing key determinants of firms for identifying abnormal payments. These results complement the research in Brazil, Australia, Bangladesh, Norway, Bahrain, England, Jordan, Kuwait, USA, Malaysia, Nigeria, Abu Dhabi, Italy and Indonesia.

Key concerns of U.K. oil and gas company directors for upstream oil developments

International Nuclear Information System (INIS)

Anon.

1996-01-01

Energy 2006 is a survey published by Ernst and Young presenting the main concerns over the past decade of the UK company directors. The upstream conclusions are presented here. In the medium term (3 years) and long term (10 years), the main concerns were with replacing reserves and with oil price changes. Company re-organisation etc., de-regulation of the gas market, maximising production, return of Iraq to the oil market, and environmental issues were also of concern. (author)

Financial methodology for Brazilian market of small producers of oil and natural gas, based on Canadian and North American experiences in reserves quantification, evaluation and certification; Metodologia de financeiamento para pequenos produtores do mercado brasileiro de petroleo e gas natural, baseado nas experiencias canadense e americana na quantificacao, valoracao e certificacao de reservas

Energy Technology Data Exchange (ETDEWEB)

Ferreira, Enrico Brunno Zipoli de Sousa e [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Programa de Pos-Graduacao em Geologia; Coelho, Jose Mario [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Dept. de Minas

2008-07-01

ANP (National Agency of Petroleum, Natural gas and Biofuels), through auctions of exploratory blocks in the subsequent years from the break of the monopoly of PETROBRAS with the Law 9.478 of 1997, had important role in the opening of the section and in the attainment of the self-sufficiency of petroleum. However the petroleum production in ripe and marginal fields were left off, since the initial interest in the first rounds was to attract the major companies. - International Oil Companies (IOC) - when ANP granted great blocks offshore. Ripe fields are defined as fields in phase of irreversible declination and marginal fields are also defined as economical concept, certain for business decision and external economical factors (price of the oil, etc.). Canada and USA, worldwide leaders in the market of petroleum and gas, possess politics that benefit and maintain the small companies protected of the competition of INOC's by assuring small companies finance through the guarantee of proved reserves of oil. This paper assemble Canadian and American experiences in regulation for small companies investments and compares it with Brazilian financing types, which is restricted due to the Brazilian finance agent's despite about oil and gas activity. (author)

INNOVATION PROCESS IN OPEN CAPITAL BRAZILIAN COMPANIES

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Ricardo Floriani

2013-12-01

Full Text Available This study aims to identify the innovation process used by the open capital Brazilian companies and establish a ranking of the potentially innovative ones. For this, a questionnaire was sent to 484 companies with shares traded in Bovespa, receiving a response from 22. The innovation process is based on the model of Barrett and Sexton (2006. A summary of the results is presented below. (i Organizational Capabilities – 95.5% answered that they have incentives for innovation activities and 68.2% reported having procedures for all services. The leadership has a facilitator role encouraging the initiative (86.4% and promotes the maintenance of the group relationship (72.7%. Value risk taking, even through failures and prioritize the learning and experimenting new ideas. (ii Background of the innovation – reveals aspects of the capacity (internal or (external. Of the respondents, 59.1% developed internal activities of continuing P & D. Training to innovate is present in a continuous or occasional basis in 81.8% of the companies. The respondents characterize the economic environment as dynamic and the majority purchased software and equipments. In only 12 opportunities was a reference to obtaining patents as innovation protection measure. (iii Focus of innovation – the majority of the companies mentioned process or product innovation. Rewards are offered when the objectives are met and it is brought to attention when this does not occur. (iv Highlighted performance – the innovations achieved the expectations and created effects. The relevant benefits noticed were: improvement in quality of goods and services, increase of market share, increase of goods and services, and increase of productive capacity.

Approaches of Russian oil companies to optimal capital structure

Science.gov (United States)

Ishuk, T.; Ulyanova, O.; Savchitz, V.

2015-11-01

Oil companies play a vital role in Russian economy. Demand for hydrocarbon products will be increasing for the nearest decades simultaneously with the population growth and social needs. Change of raw-material orientation of Russian economy and the transition to the innovative way of the development do not exclude the development of oil industry in future. Moreover, society believes that this sector must bring the Russian economy on to the road of innovative development due to neo-industrialization. To achieve this, the government power as well as capital management of companies are required. To make their optimal capital structure, it is necessary to minimize the capital cost, decrease definite risks under existing limits, and maximize profitability. The capital structure analysis of Russian and foreign oil companies shows different approaches, reasons, as well as conditions and, consequently, equity capital and debt capital relationship and their cost, which demands the effective capital management strategy.

A retrospect of U.S. oil industry takeovers of U.S. copper companies

International Nuclear Information System (INIS)

Campbell, G.A.

1991-01-01

This study is a retrospect of the US oil companies' takeovers of US copper companies during the era of 1975-81 and the subsequent divestitures. The oil companies' management favored these takeovers for financial and diversification purposes. Failure to meet these purposes is blamed for the immediate divestitures. This assertion is considered. The additional factor of a sharp oil industry downturn and its aftermath is found to be the key in explaining the divestitures

The Individual Limited Liability Company in the Brazilian Legal System and Portuguese Experience of Single Shareholder Private Companies

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Eugênio Duarte Vasques

2016-11-01

Full Text Available The scope of this essay is to analyze aspects of individual limited liability company in the Brazilian legal system, which raises the issue of the requirement of minimum capital contribution to the company’s constitution. Therefore, we seek to expose initially the historical responsibility of the individual entrepreneur, and then the current context of Portuguese single shareholder private companies. After these considerations, we focus on addressing the situation of the individual entrepreneur in Brazil and the creation of a new species of corporation that guarantees the limitation of liability to the individual entrepreneur in a manner similar to the Portuguese experience.

The Payout Decision-Making Process of Brazilian Listed Companies: A CFO Survey

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Roberto Frota Decourt

2012-12-01

Full Text Available The purpose of this paper is to present the results of a survey with Brazilian listed companies CFOs` trying to identify how these companies determine and manage their payout policy. It was identified that the final decision about dividends is taken by the board of directors, taking into consideration a management proposal sent to them before. Main factors analyzed are net profit and cash generation during immediate previous period. The managers mainly consider interest on own capital (JSCP and dividends as instruments for payout policy. They believe that share repurchase is advantageous to shareholders; however, it is viewed more as an investment decision by the company than a dividend policy. The interest on own capital is broadly used because it provides a fiscal benefit to the company. It seems that management compensation policy affects dividends payout. This suggests an agency conflict between managers and shareholders.

Impact of profit retention on value creation to shareholders of Brazilian companies

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Leonardo Cunha da Silva

2017-09-01

Full Text Available The company's decision on reinvesting profits started from the premise that the return on invested capital will exceed the opportunity cost, creating, consequently, shareholder value. Thus, wealth generation of the entity will be influenced by the level of retained earnings. Therefore, in this work we seek to examine how retained profit affect the value creation of 223 Brazilian companies, from 2008 to 2014, the control used was investment opportunity. Therefore we used descriptive statistics and panel data models. As main results we found that there is a high level of retained profit in the sample, however, a small part of the companies created value in the period. Still, the negative relationship between the level of capitalization of profits and created value is highlighted. Besides, it was observed that the companies that belonged to groups of higher levels of profit distribution ended up generating more wealth for investors.

[Reflection on developing bio-energy industry of large oil company].

Science.gov (United States)

Sun, Haiyang; Su, Haijia; Tan, Tianwei; Liu, Shumin; Wang, Hui

2013-03-01

China's energy supply becomes more serious nowadays and the development of bio-energy becomes a major trend. Large oil companies have superb technology, rich experience and outstanding talent, as well as better sales channels for energy products, which can make full use of their own advantages to achieve the efficient complementary of exist energy and bio-energy. Therefore, large oil companies have the advantages of developing bio-energy. Bio-energy development in China is in the initial stage. There exist some problems such as available land, raw material supply, conversion technologies and policy guarantee, which restrict bio-energy from industrialized development. According to the above key issues, this article proposes suggestions and methods, such as planting energy plant in the marginal barren land to guarantee the supply of bio-energy raw materials, cultivation of professional personnel, building market for bio-energy counting on large oil companies' rich experience and market resources about oil industry, etc, aimed to speed up the industrialized process of bio-energy development in China.

The effectiveness of the Brazilian customs activity as a conditioning of the partnership and business results among oil and gas companies; A efetividade da atividade aduaneira brasileira como condicionante dos resultados das aliancas e negocios entre empresas de petroleo e gas

Energy Technology Data Exchange (ETDEWEB)

Silva, Helio Fernando R. [Ministerio da Fazenda, Rio de Janeiro, RJ (Brazil). Terceiro Conselho de Contribuintes; Pires, Adilson Rodrigues [Contex - Consultoria em Administracao e Comercio Exterior, Rio de Janeiro, RJ (Brazil); Alves, Ronaldo J. [Ronaldo Alves e Associados, Consultores em Exploracao e Producao, RJ (Brazil)

2000-07-01

The thriving of the national oil and gas production depends in major part on the effectiveness of the import operations at non-definitive title made under the customs special regime named Special Customs Regime for Export and Import of Goods for Oil and Natural Gas Exploration and Production Activities - REPETRO. This regime has not totally complied with the targets it has been conceived for, that is, to enable the development of the oil and gas industry at the least import costs in a legal stable environment. This regime is a precarious norm, conceived in a hurry, aiming solely at not unveiling the big threat to the forming of partnerships among companies acting in the commerce of import and/or export of equipment for the exploration and production in the Brazilian territory, that is, the intent of the Federal Fiscal Administration to using the import tax, an extra-fiscal tax by its nature, as a mere collecting instrument. This fact becomes evident from a more detailed analysis of certain aspects of the REPETRO normative structure. (author)

Economics of oil regulation and the Brazilian reform. Some issues

International Nuclear Information System (INIS)

Hernandez-Perez, Adriana

2011-01-01

This paper reviews the economic fundamentals for regulation in the oil industry, with a focus on the current regulatory proposal for the Brazilian oil industry. The observed exploration and production (E and P) contracts foresee much of the characteristics of the optimal contract, with a remuneration structure that combines upfront with future payments to mitigate uncertainty and incentivize exploratory efforts. In Brazil, despite slow market deconcentration since 1997's liberalization, the current oil regulation is in general consistent with an optimal regulatory response. From an economic standpoint, the 2009's new regulatory proposal prompted by the major oil discoveries offshore in Brazil reduces the power of incentive schemes with respect to exploratory and cost-reducing efforts while the changes in the net risk of the E and P offshore activities are not so clear. (author)

Australian Coal Company Risk Factors: Coal and Oil Prices

OpenAIRE

M. Zahid Hasan; Ronald A. Ratti

2014-01-01

Examination of panel data on listed coal companies on the Australian exchange over January 1999 to February 2010 suggests that market return, interest rate premium, foreign exchange rate risk, and coal price returns are statistically significant in determining the excess return on coal companies’ stock. Coal price return and oil price return increases have statistically significant positive effects on coal company stock returns. A one per cent rise in coal price raises coal company returns ...

Future role of the national oil companies in the world petroleum industry. [Of Arab states

Energy Technology Data Exchange (ETDEWEB)

Taher, A H

1977-11-01

The history and role of national (i.e., multinational companies owned by an oil-exporting or -producing country) oil companies are outlined as they relate to international political and economic events. The governments of oil-exporting countries saw national oil companies as a way to gain some control over prices and revenues and to participate in development and marketing decisions. National companies can be more responsive to government policies than multinational companies during times of shortages. They provide a business arm to the government, which is politically involved in supply negotiations with other governments. National companies are felt to have a more stable position in terms of supplies, although their supplies may not be any more abundant. Multinationals will need increasingly selective investment activities after 1980 as government regulation and intervention changes market conditions. National companies may want to turn the marketing of crude oil over to the multinationals, while cooperating with them in exploration projects and the transfer of alternative energy technology. (DCK)

Chemical variability of the essential oils from fruits of Pterodon emarginatus in the Brazilian Cerrado

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Suzana F. Alves

2013-02-01

Full Text Available Pterodon emarginatus Vogel, Fabaceae, is a tree species commonly known as "sucupira-branca". It is a popular medicinal plant in the Brazilian cerrado (Savanna. This study investigates the chemical variability of the essential oils from fruits of P. emarginatus. The fruits were collected from five sites in the Brazilian Cerrado and their essential oils were analyzed by GC/MS. The results obtained by Principal Component and Cluster Analysis identified two groups: cluster I containing β-caryophyllene and δ-elemene and cluster II containing α-copaene, β-cubebene, allo-aromadendrene, α-cubebene and γ-muurulene. The Canonical Discriminant Analysis was used to differentiate between clusters on the basis of essential oil composition. The results showed high variability in the composition of the essential oils from fruits of P. emarginatus, contributing to studies of domestication of this species.

Disclosure Level of CPC 29 Biological Assets: Analysis of Determining Factors in Brazilian companies

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Daniel Ramos Nogueira

2017-04-01

Full Text Available The research question guiding this research is "What are the Determining Factors of CPC 29 Disclosure in Brazilian Companies?". In this aspect, the research objective was to evaluate the main factors that affect the disclosure of information related to biological assets. For this, 5 variables highlighted in the literature were selected as evidence influencers. The sample was composed of Brazilian companies with biological assets in the Balance Sheet. From this list, financial statements, explanatory notes, corporate management level and independent auditing company for the 6 years (2010 to 2015 were collected. With the collected information, the dependent variable (Disclosure level of CPC 29 and the independent variables of each year were verified. At the end (after exclusions, 100 observations were analyzed. The results indicated that the variables Size, Representativeness of Biological Assets and Effectiveness of OCPC 07 positively impacted the level of Disclosure. The first two confirmed the predicted hypothesis and OCPC 07 presented a relation that was different from what was expected, showing an increase and not a reduction in the number of disclosures in the years 2014 and 2015.

INTERNATIONALIZATION STRATEGIES OF EMERGING COMPANIES: A COMPARATIVE STUDY OF BRAZILIAN CASES

Directory of Open Access Journals (Sweden)

Janaína Maria Bueno

2012-01-01

Full Text Available Over the last decade, interest has picked up as to emerging economies and their companies. This recent movement does not imply that previous theories and models are no longer applicable, however, one must analyze, in a broader comprehensive manner, a series of specific context factors and those concerning the management of this kind of company. Therefore, this paper analyzed the internationalization strategies adopted by six Brazilian companies before a set of internationalization models. A qualitative research approach was employed and in-depth interviews were conducted with corporate management level professionals. Companies were divided into three groups according to internationalization times (Group I – over ten years, Group II - between five and ten years, and Group III – under five years. Observations indicated that for Groups I and III companies the product lifecycle (Vernon, 1966 and 1979 and the eclectic paradigm (Dunning, 1980, 1988 and 2000 economic models support justifying internationalization motivations for companies’ internalization whilst the Uppsala model (Johanson and VAHLNE, 1979, 2009, at least in part explains, choice decisions concerning a few countries. As to Group II companies, the product lifecycle model is not the underlying motivation for internationalization, choices being more closely related to sector opportunities and the characteristics of both products and services.

The role of the state oil company in Latin America

International Nuclear Information System (INIS)

Teixeira, A.A.

1992-01-01

ARPEL (Asistencia Reciproca Petrolera Estatal Latinoamericana -Latin America State Oil Companies Association for Mutal Assistance) is a private organization working for the benefit of its 20 member companies as well as promoting the economic integration of their respective countries. The Latin American State Oil Companies (LASOCs) are responsible for 80% of petroleum activities in the region, which in 1990 amounted to 7.4 mbd or 11.4% of the world's production. Mexico and Venezuela are responsible for 2/3 of the output. The LASOCs, besides filling domestic needs and seeking country self-sufficiency, look for opportunities for participation in international markets and to attract external investment. (authors)

COMPARATIVE EVIDENCE ABOUT KNOWLEDGE TRANSFER BETWEEN BRAZILIAN AND FOREIGN FRANCHISE COMPANIES

OpenAIRE

Rogério Stival Morgado; Afonso Fleury

2012-01-01

The objective of this study is to compare the process of transferring knowledge in franchising between Brazilian and international companies operating in Brazil. Franchising has shown an important phenomenon in many countries, with considerable evidence of growing globally. It is a new type of business organization as an object of academic research field offering great reviews, but also limitations as references and studies of depth of field. The traditional literature in management emphasis ...

FUZZY CLUSTERING: APPLICATION ON ORGANIZATIONAL METAPHORS IN BRAZILIAN COMPANIES

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Angel Cobo

2012-08-01

Full Text Available Different theories of organization and management are based on implicit images or metaphors. Nevertheless, a quantitative approach is needed to minimize human subjectivity or bias on metaphors studies. Hence, this paper analyzed the presence of metaphors and clustered them using fuzzy data mining techniques in a sample of 61 Brazilian companies that operate in the state of Rio Grande do Sul. For this purpose the results of a questionnaire answered by 198 employees of companies in the sample were analyzed by R free software. The results show that it is difficult to find a clear image in most organizations. In most cases characteristics of different images or metaphors are observed, so soft computing techniques are particularly appropriate for this type of analysis. However, according to these results, it is noted that the most present image in the organizations studied is that of “organisms” and the least present image is that of a “political system” and of an “instrument of domination”

The fixing of prices by the oil companies during the Gulf war

International Nuclear Information System (INIS)

1991-01-01

Developments in the global oil market and changes in the structure of the Danish market during the nineteen eighties are described. Price notation on world market spot markets had a significant influence on the fixing of prices in the consumer countries. The influence of the OPEC lands has been reduced. One must note the over-capacity which followed the two oil crises. On the Danish market many of the larger international companies have withdrawn from the scene. Reduction in the number of independent Danish oil companies continues. These factors have led to increased market concentration. Denmark's recovery of oil covers 70% of domestic consumption. It is evaluated whether oil companies have taken advantage of the Gulf War for monetary gain and whether they have changed their buying practices in order to take advantage of holding less stock. It was found that companies are very quick to follow Rotterdam prices (three days) and that more price reductions are given than before the Gulf War. Danish prices are quick to follow the rises and falls in the European market and did not differ much from the European ones during 1990. Only raw oil producers seem to have gained economically from the Gulf War, but this is not judged as speculation. Refinery and import companies have acted in a similar way to each other and have not seemed to decease their stock after the Gulf War in order to buy at a lower price. (AB)

THE USE OF CATEGORIES AS INDICATORS OF ORGANIZATIONAL CLIMATE IN BRAZILIAN COMPANIES

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Joel Souza Dutra

2012-04-01

Full Text Available In order to analyze employees’ perception of the work environment, companies with a well-established people management structure periodically conduct organizational climate surveys. These surveys are meant to offer an understanding of how employees view the quality of the relationships they experience in the company. One of the characteristics of this type of survey, identified both in the relevant literature and empirically in practice, is the use of categories or indicators to direct development of the research instrument, data analysis, and later intervention as needed according to the results of the survey. This article seeks to propose a categorization of organizational climate dimensions directed at the Brazilian corporate reality, analysing its internal consistency and its construct validity. To that end, we used the results of a wide-ranging data sample collected from 123,445 respondents of 491 organizations in various regions of Brazil. The proposed analysis categories – identity, satisfaction and motivation, learning and development, and leadership – were reviewed based on theories of organizational behavior and then submitted to a focus group composed of human resources professionals employed by prominent Brazilian corporations.

Cultural challenges to Chinese oil companies in Africa and their strategies

Energy Technology Data Exchange (ETDEWEB)

Feng, George; Mu, Xianzhong [Institute of Recycling Economy, Beijing University of Technology, Beijing 100124 (China)

2010-11-15

This paper investigates the cultural challenges faced by Chinese oil companies in Africa with the linguistic method and raises five corresponding suggestions in the end. First, the languages and culture of both African countries and China were studied, and the differences between them were uncovered. Second, the effects of colonization on African languages and culture were studied in a historically comparative way; the African tradition and modern culture were considered jointly. Third, the acknowledgement that African people give to Chinese culture was studied; the future development of Chinese cultural influence in Africa was anticipated. Based on all these studies, the cultural challenges to overseas investment management of Chinese oil companies in Africa were summarized into five aspects, i.e., the challenge in communication, working habit, religion, orientation and coexistence. Considering the lessons that some of the western oil companies have learnt in Africa and the development status of Chinese oil companies, five suggestions were given as follows: going aligned with the foreign policy of Chinese government, investigating and setting regulations, strengthening cross-cultural training for staff, developing harmonious relationship with the local communities and the application of localization. (author)

Cultural challenges to Chinese oil companies in Africa and their strategies

International Nuclear Information System (INIS)

Feng, George; Mu Xianzhong

2010-01-01

This paper investigates the cultural challenges faced by Chinese oil companies in Africa with the linguistic method and raises five corresponding suggestions in the end. First, the languages and culture of both African countries and China were studied, and the differences between them were uncovered. Second, the effects of colonization on African languages and culture were studied in a historically comparative way; the African tradition and modern culture were considered jointly. Third, the acknowledgement that African people give to Chinese culture was studied; the future development of Chinese cultural influence in Africa was anticipated. Based on all these studies, the cultural challenges to overseas investment management of Chinese oil companies in Africa were summarized into five aspects, i.e., the challenge in communication, working habit, religion, orientation and coexistence. Considering the lessons that some of the western oil companies have learnt in Africa and the development status of Chinese oil companies, five suggestions were given as follows: going aligned with the foreign policy of Chinese government, investigating and setting regulations, strengthening cross-cultural training for staff, developing harmonious relationship with the local communities and the application of localization.

Level of voluntary disclosure and the cost of capital of Brazilian companies: 2008 to 2012

Directory of Open Access Journals (Sweden)

Ariana Ballestero

2016-12-01

Full Text Available This study analyzed whether the level of voluntary disclosure in the Brazilian market affects the cost of capital of companies listed on Bovespa during the period covering 2008 through 2012.  The sample was composed of 46 Brazilian non-financial institutions, building on and complementing previous research such as that carried out by Lima, Lima, Favero and Galdi (2007, Murcia and Santos (2009a, and Li and Yang (2013. The panel data regression model is employed to relate the independent variables with the following dependent variables: Cost of Equity, Cost of Debt and Weighted Average Cost of Capital. Findings permit the conclusion that some voluntary disclosure practices influence the cost of capital, i.e., when a company chooses to voluntarily disclose information in its annual reports, this information can affect its cost of equity and cost of debt.

Dual Class Firms: A Study on the Impact Value of Brazilian Companies

Directory of Open Access Journals (Sweden)

Tadeu Grando

2016-08-01

Full Text Available From the ‘Agency Theory' and the conflict of interest assumption the aim of this study is verify the impact of the use of two classes of shares (dual class on the value in brazilian companies. The sample consisted of non-financial traded companies, with concentrated ownership structure, data are available in Economática®, totaling 354 companies and 1,915 observations. The data refer to the period 2005 to 2012. It terms of methodology, to research the hypothesis of the study it was used a regression by ordinary least squares, with panel data. The results indicate that companies using two classes of shares, such as separation mechanism between the cash flow and the equity control, have lower value then the ones not using such a mechanism. Additionally, it can be inferred that the governance levels and the higher dividend payment policy in the preferred shares are not able to mitigate the higher level of conflicts of interest and agency costs in dual class companies.

Economics of oil regulation and the Brazilian reform. Some issues

Energy Technology Data Exchange (ETDEWEB)

Hernandez-Perez, Adriana [Center for Economics and Oil Studies, IBRE/Fundacao Getulio Vargas (Brazil)

2011-01-15

This paper reviews the economic fundamentals for regulation in the oil industry, with a focus on the current regulatory proposal for the Brazilian oil industry. The observed exploration and production (E and P) contracts foresee much of the characteristics of the optimal contract, with a remuneration structure that combines upfront with future payments to mitigate uncertainty and incentivize exploratory efforts. In Brazil, despite slow market deconcentration since 1997's liberalization, the current oil regulation is in general consistent with an optimal regulatory response. From an economic standpoint, the 2009's new regulatory proposal prompted by the major oil discoveries offshore in Brazil reduces the power of incentive schemes with respect to exploratory and cost-reducing efforts while the changes in the net risk of the E and P offshore activities are not so clear. (author)

The effects of vertical integration on oil company performance

International Nuclear Information System (INIS)

Barrera-Rey, Fernando.

1995-10-01

When asked to rank industries by their degree of vertical integration, most people would agree that the oil industry should come top of the list. Underlying this belief is the fact that integration and size tend to be closely associated. As the oil industry is so large and oil companies so visible and perceived as so profitable, the common belief is a correlation between vertical integration, size and performance. If a dynamic view is taken of this cross-sectional observation we would expect to find an oil industry populated only by fully integrated very large companies. Although the public and the government agencies may have a view of the large advantages of integration, the surprising fact is that many empirical studies do not focus on its costs. The observation of dispersion and stability of integration would suggest, as theoretical studies do, that a cost-benefit analysis of integration is needed. This study uses that driving hypothesis and tests for the costs and benefits of integration. The cost-benefit analysis would suggest that each company pursues integration up to the point where its benefits are outweighed by its costs. The results in this paper confirm just that: vertical integration reduces the level of efficiency of companies while it also reduces its variability. In other words, there are diseconomies of diversification but the market also incorporates inefficient volatility. However, the results are not impervious to change, there are periods when the inefficiency associated with integration is smaller as is also the risk-reducing ability of the strategy. This may help to explain the reasons why different degrees of integration may be optimal. (author)

Oil refining expansion criteria for Brazil

International Nuclear Information System (INIS)

Tavares, M.E.E.; Szklo, A.S.; Machado, G.V.; Schaeffer, R.; Mariano, J.B.; Sala, J.F.

2006-01-01

This paper assesses different strategies for the expansion of Brazil's oil refining segment, using criteria that range from energy security (reducing imports and vulnerability for key products) through to maximizing the profitability of this sector (boosting the output of higher value oil products) and adding value to Brazil's oil production (reducing exports of heavy acid oil). The development prospects are analyzed for conventional fuel production technology routes, sketching out three possible refining schemes for Brazilian oil and a GTL plant for producing gasoil from natural gas. Market scenario simulations indicate that investments will be required in Brazil's oil refining segment over and above those allocated to planned modifications in its current facilities, reducing the nation's vulnerability in terms of gasoil and petrochemical naphtha imports. Although not economically attractive, oil refining is a key activity that is crucial to oil company strategies. The decision to invest in this segment depends on local infrastructure conditions, environmental constraints and fuel specifications, in addition to oil company strategies, steady growth in demand and the definition of a government policy that eases institutional risks. (author)

Oil refining expansion criteria for Brazil

International Nuclear Information System (INIS)

Tavares, Marina Elisabete Espinho; Szklo, Alexandre Salem; Machado, Giovani Vitoria; Schaeffer, Roberto; Mariano, Jacqueline Barboza; Sala, Janaina Francisco

2006-01-01

This paper assesses different strategies for the expansion of Brazil's oil refining segment, using criteria that range from energy security (reducing imports and vulnerability for key products) through to maximizing the profitability of this sector (boosting the output of higher value oil products) and adding value to Brazil's oil production (reducing exports of heavy acid oil). The development prospects are analyzed for conventional fuel production technology routes, sketching out three possible refining schemes for Brazilian oil and a GTL plant for producing gasoil from natural gas. Market scenario simulations indicate that investments will be required in Brazil's oil refining segment over and above those allocated to planned modifications in its current facilities, reducing the nation's vulnerability in terms of gasoil and petrochemical naphtha imports. Although not economically attractive, oil refining is a key activity that is crucial to oil company strategies. The decision to invest in this segment depends on local infrastructure conditions, environmental constraints and fuel specifications, in addition to oil company strategies, steady growth in demand and the definition of a government policy that eases institutional risks

The Current and Future Role of Nigerian Indigenous Oil Companies in the Mature Niger Delta

International Nuclear Information System (INIS)

David Rowlands, Spectrum Energy and Information Technology Ltd

2002-01-01

Over the last 10 years, there has been a steady increase in the number of successful Indigenous Oil Companies exploring for hydrocarbons in the Niger Delta. A number of these companies have already entered into partnership agreements with overseas based oil companies, however, many more are still seeking technical and financial partnership agreements with overseas based oil companies, however, many more are still seeking technical and financial partners to fulfil their licence commitments. The first exploration licence to an Indigenous Company was awarded in the mid eighties. However, it wasn't until the early nineties that the Nigerian Government's intention to privatise the oil industry gathered momentum. Between 1991 and 1993 a number of discretionary awards of acreage from various sedimentary basins in Nigeria were made to Nigerian Indigenous Companies. Many of these companies had little or no previous experience of hydrocarbon exploration.Sixteen of the Indigenous Companies have already reported discoveries in various parts of the delta, either in partnerships with foreign companies or independently. Eight of the Indigenous Companies are producing hydrocarbons. With very little production in the early 90's, the Indigenous Companies now account for over 4.5% of Nigeria's daily production. The government is intent on increasing this percentage through initiatives such as the Marginal Fields re-allocation programme, and the continued award of acreage in traditional license rounds. This paper takes a closer look at the operations and discoveries of two Indigenous Companies Solgas and Summit with the aim of providing an insight into the structure and mode of operation of typical Nigerian Indigenous Oil Companies.The more recent licensing activity in Nigeria includes the current Marginal Fields re-allocation programme and also possible participation of Nigerian companies in the join Development Zone between Nigeria and Sao Tome and Principe. The paper concludes with

Brazil: good news for oil is bad news for alcohol

International Nuclear Information System (INIS)

Knight, Patrick

1999-01-01

The impact of the doubling of oil prices and the devaluation of the Brazilian currency on the alcohol fuel programme is examined in this article, and the recent discovery by the Brazilian oil company, Petrobras, of a major new offshore oil field, the government's efforts to boost the consumption of alcohol fuel with subsidies and cheap loans, and the lower costs of running alcohol powered cars are discussed. Details of a major restructuring of the alcohol industry, the production of alcohol between 1994-1999, the boom in sugar exports, the glut of sugar cane, the falling confidence of motorists in alcohol powered cars, and the general move away from subsidies spearheaded by the World Trade Organisation are considered. (UK)

The Use of Social Network Sites in the Workplace: a Case Study in Brazilian Companies

OpenAIRE

Marcos Hideyuki Yokoyama; Tomoki Sekiguchi

2014-01-01

People are increasingly using Social Network Sites (SNS) through corporate platforms or open websites such as Twitter, LinkedIn and Facebook. As a recent phenomenon, the potential benefits and risks of such tools are still not properly addressed in organizations. The purpose of this paper is to analyze how Brazilian companies are using this tool to achieve their corporate strategic objectives. We conducted a qualitative case study and proposed a framework that classified the companies into th...

The new role of national oil companies - NOCs in international energy markets: a study case of BRICS; O novo papel das national oil companies - NOCs nos mercados internacionais de energia: um estudo de caso das BRICS

Energy Technology Data Exchange (ETDEWEB)

Simas, Marcelo Marinho [Petroleo Brasileiro S.A. (PETROBRAS), Rio de Janeiro, RJ (Brazil)

2012-07-01

remarkable change is observed in the environment of the oil and gas industry from the beginning of this decade in view of several factors: raise of technical ability and investments in R and D by the National Oil Companies (NOCs); rising tendency of oil price - result of economical expansion of China and India - despite momentary falls; nationalization of oil and gas reserves in several countries and technological transfer from oil companies to services companies. Herewith a high degree of reserves concentration of oil and gas production was acquired toward a few companies and countries. According the PFC Energy, in 2009 NOCs held 77% of world reserves of oil and 51% of gas against 7% and 9% respectively of the International Oil Companies (IOCs), with impact on oil geopolitics and energy market. Contrarily, IOCs are also redefining their role in this 'chess game' of oil geopolitics due above all to the direction of exploitation programs for deep waters in the few remained areas, to the high investments in R and D to raise the recovery factor of the mature fields and to rendering specialized services to the NOCs. The objective of this research is to consider the new strategies of the NOCs, their influences in the economic and energetic policies of the home countries of the companies as well as the IOCS, their influences in the concentration of the reserves and production, integration with the productive chain and participation in several sectors of industry. (author)

What oil companies will be the most competitive in the next century?

International Nuclear Information System (INIS)

Littlejohn, W.W.

1993-01-01

Turning oil into profit is the engine that propels the industry forward. Today, that engine is sputtering, threatened by a longtime friend and adversary, the federal government. As the authors approach the 21st century, most industry analysts expect the trend in the US toward ever more stringent regulation of oil drilling, transportation, and refining to continue. What kind of oil company can profit on that playing field? Will the 21st century favor international producers with upstream and downstream operations scattered across the globe? Or will it reward companies that focus on the American market and its myriad rules and regulations? A close look at two American-based companies offers some perspective. Exxon is a world-wide producer, refiner and seller of petroleum products and Arco, a California-based company that was among the first to view government intervention as an opportunity to gain competitive advantage

The Russian oil industry between public and private governance: obstacles to international oil companies' investment strategies

International Nuclear Information System (INIS)

Locatelli, Catherine

2006-01-01

The low level of involvement by international oil companies in Russia seems difficult to explain given what development of its resources and production has to offer. There are still many restrictions and contradictions, born of the particular institutional and political environment of the Russian oil industry at the end of 15 years of transition, that act as a bar to international integration. Three factors currently define the establishment of relations with foreign investors. First, because of the many different levels of negotiation with Russian companies, the State and the Regions, the decisions are based on complex relations between the various forces. Second, the reforms, and especially privatisation and the allocation of rights of ownership to deposits, are considered by sizeable sections of public opinion and many political classes to be illegitimate, thus making the issue of international investment and foreign presence still more complicated. Finally, the State's wish to take back the oil industry in order to use it to fulfil its economic and foreign policies is creating further uncertainty. These three elements seriously restrict the entry of international oil companies to the Russian market

Panorama 2017 - Which strategies for Chinese national companies on the oil markets?

International Nuclear Information System (INIS)

Hache, Emmanuel

2016-11-01

Buoyed by the 'Go Global' policy launched in the early 2000's and with the support of domestic financial institutions - banks and sovereign wealth funds -, Chinese national companies (NOC) have invested in most hydrocarbon-rich geographic regions and in numerous foreign companies within the sector. Five key objectives have emerged: increase oil and gas reserves, diversify suppliers, purchase specific assets (technologies, human capital), integrate the oil and gas value chain and pursue their own globalization. Chinese NOCs are now competing with international companies (IOC) in the marketplace

Problems of salaries management in oil and gas companies

Directory of Open Access Journals (Sweden)

Olga Gennad'evna Kolosova

2011-09-01

Full Text Available Basing on the results of the author's analysis and generalization of practical experience in the organization of remuneration on the oil and gas companies of the Khanty-Mansiysk Autonomous District — Yugra, the current state and remuneration policy were defined. The designed SWOT matrix reveals the possibilities of further improvement of the remuneration organization. Innovative development of remuneration systems involves a complex process of selecting management tools to achieve performance targets and implementing business strategies. A study of the most upfront human resources and staff practices in the Russian oil and gas sector has allowed the author to formulate approaches to building effective systems of remuneration. The suggestions described in this paper coordinate the interests of employers and employees. At the same time, they increase efficiency and job satisfaction through raising personal responsibility, which will gain the effectiveness of incentives for oil and gas companies.

77 FR 32631 - Lion Oil Trading & Transportation, Inc., Magnolia Pipeline Company, and El Dorado Pipeline...

Science.gov (United States)

2012-06-01

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. OR12-13-000] Lion Oil... of the Commission's Rules of Practice and Procedure, 18 CFR 385.202 (2011), Lion Oil Trading & Transportation, Inc., Magnolia Pipeline Company, and El Dorado Pipeline Company, collectively, Lion Companies...

IT MANAGEMENT DESIGN AT THE TOP 100 BRAZILIAN COMPANIES, ACCORDING TO THEIR CIOs

Directory of Open Access Journals (Sweden)

Leonel Cezar Rodrigues

2010-01-01

Full Text Available The objective of this paper is to identify the design of IT management atn the top 100 Brazilian companies. The research method was a quantitative approach, using the descriptive-statistical method to describe the data collected through a questionnaire with 77 questions, based on the rationale of the IT management, proposed by Lutchen (2003. The main results indicate that: a IT aligns with the basic processes of business, although not fully synchronized; b IT management adheres to conformity systems (ITIL, COBIT, but does not show optimization of business processes; c IT delivers the basic demands, but does not impose or use the best automated practices; and d IT quality is based on documented processes, but lacks indicators to control and orient business improvement. One may infer that IT management, at the top 100 Brazilian companies is essentially based on standard IT conformity systems, under the rationale of solution providers, and not as a business innovator or rule breaker. Thus, in spite of aligning and responding to business basic demand, IT management still does not show clear signs of alignment with the evolving nature of business models, needed to sustain business performance.

IT MANAGEMENT DESIGN AT THE TOP 100 BRAZILIAN COMPANIES, ACCORDING TO THEIR CIOs

Directory of Open Access Journals (Sweden)

Leonel Cezar Rodrigues

2009-12-01

Full Text Available The objective of this paper is to identify the design of IT management atn the top 100 Brazilian companies. The research method was a quantitative approach, using the descriptive-statistical method to describe the data collected through a questionnaire with 77 questions, based on the rationale of the IT management, proposed by Lutchen (2003. The main results indicate that: a IT aligns with the basic processes of business, although not fully synchronized; b IT management adheres to conformity systems (ITIL, COBIT, but does not show optimization of business processes; c IT delivers the basic demands, but does not impose or use the best automated practices; and d IT quality is based on documented processes, but lacks indicators to control and orient business improvement. One may infer that IT management, at the top 100 Brazilian companies is essentially based on standard IT conformity systems, under the rationale of solution providers, and not as a business innovator or rule breaker. Thus, in spite of aligning and responding to business basic demand, IT management still does not show clear signs of alignment with the evolving nature of business models, needed to sustain business performance.

Where in the World are Canadian Oil and Gas Companies? 2011

Directory of Open Access Journals (Sweden)

Niloo Hojjati

2017-06-01

Full Text Available Canada is well recognized for its prominence as an oil and gas jurisdiction in regard to its resources within its own borders. However, there is little available analysis and information regarding the presence of Canadian companies in the international arena. Begun in 2011 as an internal research tool for the development of the Extractive Resource Governance Program, this project seeks to answer the vital question: Where in the world are Canadian oil and gas companies? To answer this question, firm-level data from publicly traded Canadian companies are collected and analyzed, culminating in the development of an online tool for public use. This map allows interested users to geographically locate jurisdictions around the world where publicly traded Canadian oil and gas (hereafter O&G companies have activities, over time. The map is available at http://www.policyschool.ca/ research-teaching/teaching-training/extractive-resource-governance/ergp-map/. This project, hereafter referred to as the WIW project, provides a measure that quantifies Canadian oil and gas activity around the world and identifies key jurisdictions that are of particular interest to Canadian O&G companies. The data collected holds value for various stakeholders such as governments, regulatory bodies, academia, civil society, and industry across the extractive resource spectrum. Prior to further discussion regarding the 2011 annual data results, it is valuable to provide a brief overview of the methodology used in the collection of data for this research project. The WIW project examines the global activities of Canadian O&G companies in 218 countries spanning seven international regions of analysis.1 The aim of the WIW project is to examine the international presence of Canadian companies in foreign countries. As such, it is important to note that this project does not provide information related to the activities of Canadian companies within Canada’s border, such as the

What are oil companies doing with their profits?

International Nuclear Information System (INIS)

Hache, E.

2007-01-01

The author reports a study based on a detailed analysis of the annual reports of the 8 main international oil companies, completed by a focus on the use of their profits by these companies. The studied companies are super majors (BP, Exxon Mobil and Shell), intermediate majors (Total, Chevron Texaco, and Conoco Phillips) and mini majors (Repsol YPF and ENI). The author highlights the majors' financial health in 2005 and for the first 2006 semester despite a decrease of production in 2005 and a decrease of reserves. He comments the investments expenses in various sectors, analyses the main sources and uses of cash flow, comments and explains their share repurchasing practices

CORPORATE GOVERNANCE IN THE INTEGRATED REPORTING FRAMEWORK: DISCLOSURE OF BRAZILIAN COMPANIES PARTICIPANTS IN THE PILOT PROJECT

Directory of Open Access Journals (Sweden)

Ana Cristina Silva Abreu

2016-07-01

Full Text Available This paper analyzes how Brazilian companies adhered the IIRC’s framework for integrated reporting, regarding the content element of corporate governance. The 2013 annual reporting of each company were analyzed consonants to the IIRC's framework using qualitative analysis. Categories were created for adherence of information provided by companies and applied content analysis for this purpose. Results suggest that the framework, although not being adopted integrally by the companies, was used as guide for their disclosure practices. Among other observed results for each of framework topics, BRF S.A, CPFL Energia and Itaú Unibanco disclosure practices featured as examples of adherence for the IIRC model and the inherent principles integrated in the report.

National Oil Companies and their role in international market

International Nuclear Information System (INIS)

2007-01-01

Thirteen of the top 20 international helders of oil and gas reserves are either traditional national oil company (NOC) or newly privatised NOC. The growing importance of NOC in the international energy markets raises questions about emerging policies, objectives and priorities of these organizations since, historically, geopolitical and strategic aims in addition to purely commercial considerations are factored into their foreign investment decisions [it

How important are national companies for oil and gas sector performance? Lessons from the Bolivia and Brazil case studies

International Nuclear Information System (INIS)

Paz Antolín, María José; Ramírez Cendrero, Juan Manuel

2013-01-01

Control of natural resources, especially oil and gas, has been a major issue in the consideration of underdevelopment. In the present commodity boom, some Latin American economies are reforming their resource exploitation regimes, especially those issues linked with foreign capital share. The purpose of this report is to analyze these changes in the Bolivian and Brazilian oil and gas sectors in order to answer such questions as: Which property system combining public and private capital is the most suitable? Which regulating framework can guarantee a sustainable increase in output and investment? Our analyses lead to the conclusion that the regulatory framework can establish a particular ownership structure that is considered favorable for improving the performance of oil and gas sector, but the internal dynamics and the historical trajectories of enterprises will also be determining factors that interact with the given regulatory framework, generating mixed results. - highlights: • We analyze the influence of the regulatory framework in the growth of production. • We analyze the influence of the regulatory framework in investment dynamics. • We compare the regulatory frameworks for Brazil and Bolivia. • We compare the importance of public and private companies in hydrocarbons in Brazil and Bolivia

Understanding organization and institutional changes for management of environmental affairs in the Brazilian petroleum sector

International Nuclear Information System (INIS)

Oliveira, J.A.P. de

2003-01-01

This article analyzes how governments and an oil company adapted their institutional and organization frameworks to manage actual and potential environmental impacts of oil-related activities in Brazil. Two major factors are important for understanding these changes. First, the monopoly of the state to explore and produce oil is over. Foreign companies have entered Brazil and increased the competitiveness of the oil sector. Second, major oil spills into waterways in recent years resulted in severe fines and an increasing outcry from government and civil society representatives for greater control over oil activities. These two factors raised a debate about what are, or should be, the roles of various stakeholders involved in controlling oil activities and their impacts on the environment. Legislative changes assigned different roles to the state oil company, to a newly created regulatory agency, to the Navy and to federal and state environmental agencies. Because many of the legal changes were not well defined, accountability among institutional actors remained unclear and institutional conflicts about who is accountable for what were likely to occur. As well, government organizations, public prosecutors, media and civil society increasingly influenced the regulation of both government agencies and companies. As a result, these responded to regulatory change and market forces by changing their relations with external stakeholders and their organizational arrangements for environmental management. This article identifies some of the institutional conflicts in selected case studies from the oil industry, the difficulties in clarifying regulatory roles within the industry, and responses in terms of the environmental strategies of regulatory bodies and oil companies, specifically the Brazilian state company, Petrobas. (author)

Corporate governance and internationalization of capital of brazilian companies of the sectors construction and transports

Directory of Open Access Journals (Sweden)

Anna Beatriz Grangeiro Ribeiro Maia

2013-08-01

Full Text Available The study aims at analyzing comparatively the representativeness of foreign capital in the capital of Brazilian companies of the sectors construction and transports, considering their segments on the BM&FBovespa. The internationalization of the 66 companies in the sample was measured by the percentage of the company's share capital held by foreign investors, and governance by the company's participation on the “Differentiated Level of Corporate Governance” (DLCG segments of BM&FBovespa. Using a descriptive and a quantitative study, the results of applying the Mann-Whitney test for the percentage of foreign capital in the capital of DLCG firms and of companies listed on the traditional market indicate that there is a difference statistically significant between the two groups of firms, confirming the hypothesis of this research. The conclusion is that governance is a sign of the internationalization of capital companies, confirming the efficiency of the administration based on the theory of transaction costs.

The Utilization Of Resources And Regulation Along With Companys Strategies In Managing Oil And Natural Gas Industry In Indonesia

Directory of Open Access Journals (Sweden)

Sigit Rahardjo

2015-08-01

Full Text Available Oil and gas production in Indonesia has been declined since 1995 up to now the effort to increase the production has been done but it does not result yet. In contrast day by day the investment is getting increased and huge on the other hands it becomes a problem and a challenge for Indonesia to meet oil needs as raw material for refined fuel oil either for transportation or industries. Day by day the needs of refined fuel oil is getting increased and huge as it is correlated to the increasing of the number of motorcycles either two-wheeled or four-wheeled as well as the increasing of oil and gas or non-oil and gas industries. Oil and natural industry Resource Base has specific characteristics those are internal factor that uses resource such as high technology huge investment cost as well as competent human resources. Besides the external factor those are good regulations either in the central and regional levels as well as the sector which is very important toward the production performance and the of company managements strategies to manage this industry. This paper attempts to figure out the impact of internal factor in the form of resources and external factor in the form of regulation as well as the effect of production performance toward petroleum companies of upstream sectors in Indonesia and managements role especially petroleum industrialists in managing the company. The wane of oil production and the increasing of refined fuel oil need in Indonesia as well as the increasing of oil production cost then it will affect the industrialists strategies in managing the companies. The resources consist of human resource oil reserve as well as petroleum technologies. While regulation consists of law central and regional government regulations and rules in oil and gas sector. Whereas the companys strategies are explained by production volume and selling volume of oil. Companys performance which sets to work in upstream sector is influenced by

What kind of oil company do we need? Maturity and industrial structure on the Norwegian Shelf

International Nuclear Information System (INIS)

Noreng, Oeystein

1998-01-01

After many years with relatively high oil prices and moderately good oil discoveries, there is today an investment pressure on the Shelf. Many current development projects concern smaller discoveries made a long time ago. Thus the present rapid development depletes a capital of discoveries made at an early phase when the Norwegian Shelf was less mature. On this background, this presentation suggests that perhaps Norway, as a mature oil province, may not need the same kind of oil companies that dominated the petroleum activities during the development to maturity. It is experienced internationally that the various phases in the development of an oil province require different competence and thus different companies. Less oil has been found the last years than what has been produced. The command is now to find more oil. The question is how and by what company. Advantages and disadvantages are discussed for four categories of companies: (1) state companies, (2) large multinational, (3) independent, and (4) small newcomers. A section on maturing and the interest of the state as the property owner discusses the processes from large-scale operation to diversity, and maturing and the need for selective competence and low costs. Finally the paper discusses the negotiation policy of the state, political instruments and the company structure and reviews some experience from U.S.A. and UK. 1 table

No 2951. Proposal of law for the increase of the tax rate of oil companies profit

International Nuclear Information System (INIS)

Luca, L.

2006-03-01

The profits made in 2005 by oil companies is enormous and results from the important and continuous rise of the oil barrel price. However, this high price has led to an inflation of automotive and space heating fuel prices which has penalized the end-users. These end-users have also contributed in this way to the excellent financial results of oil companies. Therefore, this proposal of law aims at establishing a pay-back system to end-users as soon as the profits of oil companies exceed a given threshold. (J.S.)

Valuation of international oil- and gas companies; Verdsetting av internasjonale olje- og gasselskaper

Energy Technology Data Exchange (ETDEWEB)

Osmundsen, Petter; Mohn, Klaus; Espedal, Harald; Loevaas, Kjell

2002-07-01

In Norway, stock exchange quotation of Statoil has led to increased interest in valuation of oil companies. This article goes through the theory of corporate valuation. Then it compares the theory with practice, where valuation largely is built on accounts-based indicators. Taking the oil companies as a case, the article describes and evaluates the valuation methods used by analysts and investment banks.

Second to none: Brazilian, Mexican oil giants turn to Canadian satellite system for eagle eye on offshore spills

International Nuclear Information System (INIS)

Cramp, B.

2001-01-01

The use by Petrobras of Canada's RADARSAT-1 earth observation satellite imaging system to determine the characteristics of the developing environmental disaster when the world's largest oil rig afloat, owned by Petrobras, was sinking of the Brazilian coast following a series of three explosions which seriously damaged the rig. RADARSAT-1 was pressed into service to determine the fate of the oil slick in terms of where it was heading and how soon it would get there, information that is vital to directing clean-up efforts to minimize the damage. RADARSAT-1 was also involved in responding to a tanker oil spill in January 2001 that threatened the Galapagos Islands off the coast of Ecuador. PEMEX, the Mexican state oil company also uses RADARSAT-1 satellite imagery to monitor its nearly 400 marine oil operations in the Gulf of Mexico. RADARSAT-1, launched in 1995 by the Canadian Space Agency, is well known for its reliability, regularity and rapidity. It is equipped with microwave sensors, which can be relied on to produce usable imagery 96 to 97 per cent of the time. It can acquire imagery day or night under any atmospheric conditions through its ability to penetrate darkness, cloud, rain or haze. This is crucial when tracking oil slicks in the ocean where clouds and haze are common, especially near or in the equatorial zones. RADARSAT-1 works by transmitting microwave energy, bouncing it off the earth's surface and back to the satellite. The returning signals are received and stored by the satellite as data. Oil slicks as small as 100 metres long can be detected from space by RADARSAT-1

Value Relevance vis-à-vis Disclosure on Business Combinations and Goodwill Recognized by Publicly Traded Brazilian Companies

Directory of Open Access Journals (Sweden)

Maíra Melo de Souza

Full Text Available Abstract The objective of this study is to examine the value relevance of the level of disclosure on business combinations and goodwill recognized by publicly traded Brazilian companies. The research sample is composed of publicly traded Brazilian companies that carried out any type of business combination, as the acquiring entity, between 2010 and 2013, yielding a total sample of 202 observations. To measure the disclosure level of each, a metric was created based on CPC-15 R1 (2011 to examine certain disclosure items in order to render a greater level of detail. Data collection was carried out using the footnotes to the annual consolidated standardized financial statements (DFPs available from the São Paulo Stock Exchange (BM&FBOVESPA website. The results revealed that disclosure levels for business combinations are positively and significantly associated with the stock price of the companies analyzed. As to the recognition of goodwill during business combinations, despite the fact that it represents a significant share of the value of the transactions, no statistical significance explaining stock price behavior was found. It also bears mentioning that the average level of disclosure identified in the explanatory notes in the sample was very low, indicating that companies need to improve when it comes to transparency of information.

The Supreme Federal Court of Brazil and the law of oil; O Supremo Tribunal Federal e a Lei do petroleo

Energy Technology Data Exchange (ETDEWEB)

Reis, Marcio Monteiro

2008-07-01

The following paper aims to analyze the local oil legal framework and the Brazilian Federal Supreme Court ('STF') footprint pursuant Constitutional Amendment n. 5. Such Amendment allowed local and international companies to act in the Brazilian oil market. This paper also analyses Law 9.478, which created the National Oil Agency ('ANP') with great innovations to the market. Therefore, a historic timeline comparing the enactment of such rules 'vis-a-vis' certain issues raised before STF through Direct Actions of Unconstitutionality will be presented (author)

An analysis of the of international oil companies' strategy between 1999 and 2004

International Nuclear Information System (INIS)

Hache, E.

2006-07-01

Using data from the annual reports of eight major international oil companies (Exxon Mobil, BP, Shell, Total, Chevron Texaco, Conoco Phillips, ENI and Repsol), this study first proposes an analysis of this set of companies considered as a whole with respect to pertinent indicators (sales figure, geographical origin of this sales figure, share of gas and electricity distribution, staff, productivity, profitability, and so on) on the 1999-2004 period. Then, the author proposes analyses for each company, considering its own activities (oil and gas production, refineries, etc.) and also with respect to the others

Indian oil company joins efforts to reduce methane emissions

Science.gov (United States)

Kumar, Mohi

The Oil and Natural Gas Corp, Ltd. (ONGC), headquartered in Dehradun, India, has joined seven U.S. and Canadian oil and natural gas companies as a partner in a U.S. Environmental Protection Agency program to reduce greenhouse gas emissions. EPA's Natural Gas STAR International Program aims to reduce methane emissions from the oil and natural gas sector while delivering more gas to markets around the world. With this partnership, ONGC agrees to implement emissions reduction practices and to submit annual reports on progress achieved; EPA agrees to assist ONGC with training technicians in new cost-effective technologies that will help achieve target emissions. The Natural Gas STAR International Program is administered under the Methane to Markets Partnership, a group of 20 countries and 600 companies across the globe that since 2004 has volunteered to cut methane emissions. More information on EPA's agreement with ONGC can be found at http://www.epa.gov/gasstar/index.htm; information about the Methane to Markets Partnership can be found at http://www.methanetomarkets.org.

Case study: The Transnationalization of Russian Oil and Gas Companies

Directory of Open Access Journals (Sweden)

Sergey Lavrov

2017-03-01

Full Text Available The value of multinational enterprises (MNEs as the main players in the global economy is constantly increasing. More and more companies from developing and transition economies are starting to do business beyond their national borders. Not all of them strictly belong to the category of MNEs, as is the case for Russia’s largest companies. This article analyzes the international activities of Russian MNEs. The authors study the place of MNEs in the modern world and examine the transformation of the concept of an MNE in the international practice. They identify the internationally accepted criteria that classify a company as an MNE. They analyze the international activities of the largest Russian companies in the oil and gas sector (Gazprom, Rosneft, Lukoil, Surgutneftegas, Novatek and their possible classification as MNEs. The article also assesses the influence of the economic and political sanctions on the international activities of Russian MNEs in the oil and gas sector. The methodological basis for the study is the dialectical method of investigating phenomena and processes in the modern world as the most effective way to achieve goals. The authors pay particular attention to the practical application of comparative economic analysis, classification and empirical generalization of original data. The authors came to seven conclusions. First, there is no single approach to defining the essence of MNEs. Second, the indicators that classify a company as an MNE can be divided into qualitative and quantitative criteria. Third, not all the large companies in Russia engaged in expanding into foreign markets can be classified as MNEs by the formal criteria. Fourth, most Russian MNEs have an unstable position in international ratings of MNEs, with the exception of Lukoil. Fifth, the main problems of Russian MNEs include the inefficiency of foreign assets, the lack of experience in managing international holdings and the longstanding crisis of the

Tax effort and oil royalties in the Brazilian municipalities

Directory of Open Access Journals (Sweden)

Fernando Antonio Slaibe Postali

2015-09-01

Full Text Available This paper estimates a stochastic production frontier, to investigate whether municipalities covered by oil royalties in the last decade have reduced their tax effort in Brazil. The issue is relevant to the prospect of a substantial increase in these revenues and the new rules for distribution of the funds, established by Law No. 12.734/2012. The inputs were provided by personnel and capital expenditures, whereas the product was defined as the municipal tax collection. With the purpose of overcoming the endogeneity problems due to reverse causality of output on inputs, we used the lagged independent variable as instruments in the inefficiency equation. The data set is composed of a panel of Brazilian municipalities from 2002 to 2011. The results indicate that oil revenues have a negative impact on the estimated efficiencies, signaling reduced fiscal effort by the benefiting municipalities.

Optimization of helicopter hub locations and fleet composition in the Brazilian pre-salt fields

OpenAIRE

Norddal, Ida Kristine

2013-01-01

When implementing oil and gas operations in the Santos Basin pre-salt fields, Brazilian energy corporation Petróleo Brasileiro S.A (Petrobras) faces some significant challenges. One of these is the large distance from shore: exceeding 300 km at the most, it is about three times the distance to oil fields explored in the past. This has great impact on the company's offshore helicopter operations. In its current form, helicopters transport employees directly between onshore airport bases and of...

Environmental Financial Information: differences in disclosure levels among Brazilian companies

Directory of Open Access Journals (Sweden)

Janaína da Silva Ferreira

2016-03-01

Full Text Available Issues related to the environment and sustainability have motivated interests of the academic community and organizations. The current model of society is permeated by excessive production and consumption, which is exacerbating man's relationship with nature. It is a fact that, to subsist, society needs the manufacturing of products and delivery of services, but it is also known that manufacturing products and providing services impact the environment. The impact also differs according to the activity that is developed. In Brazil, Law No. 10.165/2000 determines on the National Environmental Policy and ranks companies according to the environmental impact they cause. This research analyzed the voluntary disclosure of environmental financial information in Brazilian companies, classified into sectors with different environmental impacts. Therefore, we investigated the Standardized Financial Statements of the companies that make up the IBRX-50 index, in its portfolio from May to August 2014, in the years 2011, 2012 and 2013. The measure ranked the environmental financial information, distributing the data into seven categories and 30 subcategories. The most evidenced category relates to environmental investments, with 58% of the information disclosed. The highest amount presented was in the category of environmental liabilities and contingencies, with R$259.84 billion. The results show that there is a difference in the disclosure of environmental financial information compared to the amount of sentences disclosed without the number of subcategories evidenced. The nonparametric test and content analysis showed that, in the years analyzed, companies with high environmental impact disclose more environmental financial information.

The political role of national oil companies in the large exporting countries : the Venezuela case

International Nuclear Information System (INIS)

Mommer, B.

1994-01-01

This paper starts by defining the role of mining companies vis-a vis the landlords in a modern economy. Then it examines the role international oil companies played in exporting countries. Finally the role of national oil companies is analyzed following the same scheme : what is their contribution to the development of a new landlord-tenant relationship, nationally and internationally ? ''Petroleos de Venezuela'' is taken as an example. (Author). 27 refs

Oil companies: institutional and economic transformation

International Nuclear Information System (INIS)

Clo, Alberto

2007-01-01

In the last century, experience in the oil industry, suggested that some particular conditions were functional to the success of big companies strategies when facing exogenous market conditions hold true even nowadays, in face of the energy market institutional and economic transformations which are in place since the start of the new century. In other ways, are the majors still able to anticipate the market shifts and changes and to profit of these in terms of growth opportunities and competitiveness? [it

Appearing like a state: Oil companies and local violence in the Niger Delta

Science.gov (United States)

Mattner, Mark

What determines the extent to which communities in the Niger Delta experience violence? The dissertation addresses this question by focusing on the role of multinational oil companies in local governance, where state institutions are weak. The available literature often overlooks this important dimension. Specifically, the dissertation evaluates whether the choice of community relation policies by oil companies accounts for variations in local violence. These policies often include community development projects and attempts at strengthening local institutions. The main hypothesis is that where projects are allocated and implemented through participatory processes, informal institutions are created which substitute for weak local governments and reduce violence. The dissertation tests this contention by comparing four cases which were selected according to differences in their levels of violence. It concludes that the hypothesis is valid only in highly specific circumstances. In most cases, levels of repression and the relationship between companies and local elites are more significant explanations for violence. This is because oil companies and the state continue to rely primarily on repression and co-optation in their relationship with local communities. Community development and corporate social responsibility are secondary concerns. The central implication of this analysis is that a solution to the crisis in the Niger Delta is unlikely to lie in self-regulation and non-binding commitments by corporate actors. More promising approaches are strengthening local governments by ensuring the integrity of local elections and more stringent regulation of oil company conduct.

US oil companies ready to take the high ground again

International Nuclear Information System (INIS)

Odell, P.

1994-01-01

In the 1930s, the petroleum industry, which essentially started in the United States of America (USA), was prevented from expanding its influence to Middle East petroleum producing countries because of the colonial control exercised by Britain, France and the Netherlands. However, with the Second World War, these relationships changed, and gradually the oil traded internationally became the principle source of energy on the world market. A well-known oil industry commentator and critic describes these developments and notes that since the Gulf War, the USA has drawn closer to Saudi Arabia, a major oil producer, and hence permitted U S. oil companies to dominate the world scene. (UK)

The national oil companies and the modernization of tax regimes in oil exporting countries

International Nuclear Information System (INIS)

Rodriguez-Padilla, V.

1994-01-01

The analysis of tax regimes for oil national companies leads through three conclusions : i) current tax regimes are economically inefficient but they may be corrected without changing the institutional framework ; ii) there is no optimal tax regime but certain principles such as equity, adaptability and neutrality have to be respected; iii) contracts and concessions might be appropriated tools while maintaining the monopoly of the national company but such a choice poses political and ideological problems. (Author). 26 refs., 1 fig., 1 tab

Different perceptions of company leaders: Corporate social responsibility in Brazil and India

Directory of Open Access Journals (Sweden)

Mônica Cavalcanti Sá de Abreu

2015-05-01

Full Text Available This article evaluates corporate social responsibility strategies and efforts to implement them in a Brazilian oil and gas multinational and an Indian steel multinational. Qualitative research was conducted through interviews with executives of both companies, and a content analysis and comparison of approaches to corporate social responsibility and engagement with stakeholders were made. The evidence from this research shows that the type of corporate social responsibility adopted by each company depends on the ethical values, socio-economic environment, legal and institutional framework of the country in which the firm operates.

Critical Factors in Transnational Oil Companies Localisation Decisions - Clusters and Portfolio Optimisation

International Nuclear Information System (INIS)

Kind, Hans Jarle; Osmundsen, Petter; Tverteraas, Ragnar

2001-10-01

Enhanced understanding of the factors determining trans national companies' localisation decisions is important for regulators and other stake holders concerned about maintaining current activity levels in a petroleum producing country. This article discusses localisation decisions in the context of theories of industrial clusters and real portfolio optimisation theory (materiality), which we argue are two fruitful lines of explanation for trans national companies' behaviour. The industrial cluster literature is concerned about the level of positive externalities associated with geographic clustering of related production activities. The concept of materiality, implying that investment projects in an oil province must be of a certain minimum size in order to be interesting for oil companies, is evaluated empirically and compared to predictions of mainstream economic theory. (author)

Critical Factors in Transnational Oil Companies Localisation Decisions - Clusters and Portfolio Optimisation

Energy Technology Data Exchange (ETDEWEB)

Kind, Hans Jarle; Osmundsen, Petter; Tverteraas, Ragnar

2001-10-01

Enhanced understanding of the factors determining transnational companies' localisation decisions is important for regulators and other stakeholders concerned about maintaining current activity levels in a petroleum producing country. This article discusses localisation decisions in the context of theories of industrial clusters and real portfolio optimisation theory (materiality), which we argue are two fruitful lines of explanation for transnational companies' behaviour. The industrial cluster literature is concerned about the level of positive externalities associated with geographic clustering of related production activities. The concept of materiality, implying that investment projects in an oil province must be of a certain minimum size in order to be interesting for oil companies, is evaluated empirically and compared to predictions of mainstream economic theory. (author)

Ownership structure and economic and socio-environmental disclosure in the largest Brazilian companies

Directory of Open Access Journals (Sweden)

Tatiana Aquino Almeida

2016-01-01

Full Text Available The disclosure of sustainable practices has become important in the search for competitive advantage, so as to meet the expectations of the various stakeholders. Thus, the study aims to investigate the relationship between the ownership structure and the economic and environmental voluntary disclosure in the largest Brazilian companies, analyzing ownership concentration and the identity of the controlling shareholder. For the analysis, we considered the economic, social and environmental perspectives, addressed both individually and jointly. The sample consists of 47 companies from the 100 largest public companies listed on BM&FBOVESPA, according to the magazine Exame Biggest and Best, edition 2013. The research is descriptive and quantitative, using Multiple Linear Regression for statistical analysis. The descriptive analysis of the prospects of (economic, social, environmental and sustainability disclosure showed lower average disclosure for the environmental aspect. The state control organizations stood out with the highest average in three of the four levels of disclosure: economic, social and sustainability. As regards the application of statistical analysis, the regression models were not statistically significant, indicating that, for the companies in the sample, the ownership structure does not influence the economic and socio-environmental disclosure.

When Oil and Wind Turbine Companies Make Green Sense Together

DEFF Research Database (Denmark)

Backer, Lise

2009-01-01

strengthen their relationships with companies such as Vestas – that are born green. This is so since companies that are born green have strong green ecocentric business beliefs that can function as important engines in shared green sense‐making with companies that are not born green and have more hesitant......In this article I contribute to descriptive green business research on how processes of eco‐effective greening business unfold in practical reality. I look into the case of the increasing interaction between the multinational oil company Shell and the world's largest wind turbine company Vestas. I...... draw on descriptive organizational sense‐making theory and analyse to this end the shared green sense‐making of Shell and Vestas on off‐shore wind energy business. The article concludes that greening companies such as Shell – that are not born green – might be considerably advanced if these companies...

Challenges and technological opportunities for the oil refining industry: A Brazilian refinery case

International Nuclear Information System (INIS)

Castelo Branco, David A.; Gomes, Gabriel L.; Szklo, Alexandre S.

2010-01-01

The worldwide oil refining industry currently faces strong challenges related to uncertainties about future feedstock and characteristics of oil products. These challenges favor two main strategies for the sector: the first strategy is increasing refinery complexity and versatility; the second is integrating the refining and petrochemical industries, adding value to the crude oil while guaranteeing market share to premium oil products. Both strategies aim at increasing production of highly specified oil products, simultaneously reducing the environmental impacts of the refining industry. This paper analyses the case of a Brazilian refinery, Gabriel Passos Refinery (REGAP), by proposing additional investments to alter and/or expand its current production scheme. All the proposed options present relatively low investment rates of return. However, investments in a hydrocracking based configuration with a gasification unit providing hydrogen and power can further improve the operational profitability, due to reduced natural gas consumption.

Exploring the Linkages Between Deming’s Principle, World-Class Company, Operational Excellence, and Company Performance in an Oil and Gas Industry Setting

Directory of Open Access Journals (Sweden)

Wakhid Slamet Ciptono

2005-06-01

Full Text Available This study explores the linkages between Deming’s Principle, World-Class Company, Operational Excellence, and Company Performance in the Indonesia’s oil and gas industry. The aim of this study is to examine the causal relationships model between the Deming’s Principle (DP, World-Class Company (WCC, Operational Excellence (OE, and Company Performance (Monetary Gain Performance or MGP and Value Gain Performance or VGP. The author used 140 strategic business units (SBUs in 49 oil and gas companies in Indonesia. The survey was administered to every level of management at each SBU (Top, Middle, and Low Level Management. A multiple informant sampling unit is used to ensure a balanced view of the relationships between the research constructs, and to collect data from the most informed respondents on different levels of management. A total of 1,332 individual usable questionnaires were returned thus qualified for analysis, representing an effective response rate of 50.19 percent. Path analysis and structural equation modeling (SEM are used to analyze the effect of Deming’s principle on company performance and to investigate the interrelationships between Deming’s principle, world-class company, operational excellence, and company performance. The results show that Deming’s Principle has significant positive and indirect effect on company performance (monetary gain performance and value gain performance. Although the Deming’s Principle has no significant direct effects on company performance, the Deming’s Principle has significant positive effects on the intervening variables (world-class company and operational excellence. The result also shows that a complete model fit and the acceptable parameter level that indicate the overall parameter are good fit between the hypothesized model and the observed data. By concentrating on a single industry (oil and gas, SEM specification of the causal relationship model between five constructs can be

Where in the World are Canadian Oil and Gas Companies? 2012

Directory of Open Access Journals (Sweden)

Niloo Hojjati

2017-06-01

Full Text Available Begun in 2011 as an internal research tool for the development of the Extractive Resource Governance Program, this study seeks to answer the vital question: Where in the world are Canadian oil and gas companies? To answer this question, we extract firm-level information from publicly traded Canadian companies in order to establish the location of their activities around the globe.1 The data collected in the “Where in the World” (hereafter WIW project are presented through a publicly accessible interactive world map, which allows users to explore a specific country or region over time. This map can be accessed online at http://www.policyschool.ca/research-teaching/teaching-training/extractiveresource-governance/ergp-map/. For background information regarding the WIW project, including an extensive overview of the methodology, please refer to http://www.policyschool.ca/wp-content/uploads/2017/06/Where-in-the-WorldHojjati-Horsfield-Jordison-final.pdf. For a summarized overview of the annual data gathered in 2011, please refer to http://www.policyschool.ca/wp-content/ uploads/2017/06/2011-Where-in-the-World-Hojjati-Horsfield-Jordison-final.pdf. This report, as in the earlier report in this series, presents an extensive account of the global presence of Canadian oil and gas (hereafter O&G companies in the 2012 year of study.2 In total, 228 Canadian O&G companies conducted operations in 85 countries in 2012, extending their presence to every region of the world. While North America continued to serve as the primary destination for Canadian exploration and production activities, the role of Canadian O&G service companies increased significantly in the Middle Eastern oil and gas industry, particularly in the United Arab Emirates, Saudi Arabia, Kuwait, and Oman. This report begins with a regional overview of the international activities of Canadian exploration and production (E&P companies, followed by a summary of the level of activities on a

Centralized vs. decentralized thermal IR inspection policy: experience from a major Brazilian electric power company

Science.gov (United States)

dos Santos, Laerte; da Costa Bortoni, Edson; Barbosa, Luiz C.; Araujo, Reyler A.

2005-03-01

Furnas Centrais Elétricas S.A is one of the greatest companies of the Brazilian electric power sector and a pioneer in using infrared thermography. In the early 70s, the maintenance policy used was a centralized approach, with only one inspection team to cover all the company"s facilities. In the early 90s, FURNAS decided to decentralize the thermography inspections creating several inspection teams. This new maintenance policy presented several advantages when compared to the previous one. However the credibility of the results obtained with the thermal inspection was frequently being questioned, in part due to the lack of a detailed planning to carry out the transition from the centralized inspection to the decentralized one. In some areas of the company it was suggested the inactivation of the thermography. This paper presents the experience of FURNAS with these different maintenance policies and details the procedures which have been taken that nowadays the infrared thermal inspection has become one of the most important techniques of predictive maintenance in the company.

The essential oil of Brazilian pepper, Schinus terebinthifolia Raddi in larval control of Stegomyia aegypti (Linnaeus, 1762).

Science.gov (United States)

Silva, Ary G; Almeida, Drielle L; Ronchi, Silas N; Bento, Amarildo C; Scherer, Rodrigo; Ramos, Alessandro C; Cruz, Zilma Ma

2010-08-27

The ability of mosquitoes of the genus Aedes and its allies, such as Stegomyia, to transmit diseases such as dengue and yellow fever, makes them important in public health. This study aims to evaluate the use of the essential oil of Brazilian pepper in biological control of by assessing and quantifying the larvicidal effect against S. aegypti, the only available access to dengue control, and test its risk of genotoxicity with Salmonella typhimurium as an indicator of safety for its environmental use. The density of the oil was 0.8622 g mL-1. Gas chromatography coupled with mass spectrometry revealed six major constituents: δ-3-carene (55.43%), α-pinene (16.25%), sylvestrene (10.67%), germacrene D (2.17), β-myrcene (1.99%), and isoterpinolene (1.4%). The minimum inhibitory dose to larvae development was 862.20 μg mL-1. The median lethal dose (LD50) of the essential oil for larvae was between the concentrations of 172.44-344.88 μg mL-1. There was no mutagenic risk for the essential oil, since there were no biochemical or morphological changes in S. typhimurium after exposure to the essential oil. The minimum inhibitory essential oil concentration and the median lethal dose pointed to the value of the use of water dispersions of Brazilian pepper essential oil as an environmental safe natural larvicidal for S. aegypti.

The role of the state oil company in Latin America

International Nuclear Information System (INIS)

Teixeira, A.A.

1991-01-01

The role of the Latin American state oil companies (LASOCs) in establishing national industries to fuel economic development is discussed. LASOCs are represented internationally in an organization called ARPEL (Asistencia Reciproca Petrolera Estatal Latinoamericana) which is aimed to foster interchange, cooperation, and mutual assistance among its 20 member companies, as well as to promote economic integration of Latin America through its petroleum sector. State oil companies in Latin America date from 1922, when the oldest LASOC was created in Argentina. LASOCs are responsible for ca 80% of petroleum activities in Latin America. As of 1990, Latin American oil reserves, including gas liquids, amounted to ca 122 billion bbl or 12.2% of the world total. Regional oil production averaged 7.4 million bbl/d in 1990. Refining capacity is ca 7.7 million bbl/d, of which 80% is operated directly by LASOCs. Natural gas reserves are 7.3 trillion m 3 , ca 6% of the world total, and production averaged 360 million m 3 in 1990. LASOCs were generally created and developed under strong nationalistic climates and worked in regulated markets. They grew strongly during the 1960s and 1970s and also organized to work both in upstream and downstream operations. LASOC strategies varied according to the needs of the individual countries, but generally included promotion of long range plans to develop the local manufacturing and service industries. The larger LASOCs have developed important new technologies. In the 1980s, economic crises and financial manipulation by governments brought LASOCs into a serious crisis, and the latest trend is toward deregulation and an opening to foreign investment to encourage economic recovery. 8 figs., 2 tabs

Antibacterial activity, chemical composition, and cytotoxicity of leaf's essential oil from Brazilian pepper tree (Schinus terebinthifolius, Raddi)

OpenAIRE

Silva, A.B.; Silva, T.; Franco, E.S.; Rabelo, S.A.; Lima, E.R.; Mota, R.A.; Câmara, C.A.G. da; Pontes-Filho, N.T.; Lima-Filho, J.V.

2010-01-01

The antibacterial potential of leaf's essential oil (EO) from Brazilian pepper tree (Schinus terebinthifolius Raddi) against staphylococcal isolates from dogs with otitis externa was evaluated. The minimum inhibitory concentration of EO ranged from 78.1 to 1,250 fg/mL. The oil was analyzed by GC and GC/MS and cytotoxicity tests were carried out with laboratory animals.

Planning and administration of human resources in Brazilian Electric Power Companies; Planejamento e administracao de recursos humanos nas empresas brasileiras do setor de energia eletrica

Energy Technology Data Exchange (ETDEWEB)

Dias, Devanir Vieira

1985-12-01

Administration and planning of human resources in Brazilian Companies of Electric Power Sector analyzes the evolution of the concept of business planning. This work explore the specific literature of this theme, giving emphasis in predict methods and human resources development and planning models. Is also presented a case study, realized in 1979, which comprehended 84 % of Brazilian Energy Companies. This study aims to evaluate the results of an implementation of this planning and development models 64 refs., 12 figs., 22 tabs.

Study notes separability of oil company profitability, efficiency

International Nuclear Information System (INIS)

Thompson, R.G.

1993-01-01

In recent years, the large publicly traded oil companies have been restructuring and downsizing to improve efficiency. Newly developed decision theory forces one to question the widely held singular focus on efficiency because improving efficiency will not necessarily improve profits. This is especially likely in the oil industry, where price volatility is the norm. Because its products are so basic, its price volatility typically ripples widely throughout the economy. In light of this, efficiency and profitability in the oil industry require separate treatment. More specifically, the efficient are not necessarily the most profitable; conversely, the most profitable are not necessarily the most efficient. Such a decoupling of efficiency and profitability requires a totally new look at business strategy. In the face of highly variable prices, firms can no longer depend on the long-accepted duality norm between profits and efficiency

The adaptation of national companies to a new oil environment

International Nuclear Information System (INIS)

Boussena, S.

1994-01-01

The national oil companies of exporting countries are facing a changing economic world, a remaining low oil price and many other economic and political changes. They have to adapt to this new environment. To do this they have to define a better balance between their corporate targets and the function which is given to them through state ownership. They need an actual modernization which does not necessarily imply privatization. (Author). 3 figs., 5 tabs

THEORETICAL ESSAY ABOUT THE RELATION BETWEEN FINANCIAL LEVERAGE AND INVESTMENT IN BRAZILIAN COMPANIES

Directory of Open Access Journals (Sweden)

Aline Midori Kuroda

2015-12-01

Full Text Available The quest for understanding the relationship between the capital structure and investment decisions resulted in many different authors contribution. In the Brazilian economic scenario, an empirical study performed by Albuquerque and Matias (2013 identified the existence of a strong negative relation between finance leverage and investment in Brazilian public companies. The purpose of this study was to investigate whether the theory of finance supports these empirical findings or if there is a discrepancy between the practical behavior and the theoretical rules. To this end, it was performed a bibliographic research of scientific works related with this theme, among them Carneiro, Salles and Wu (2006, Hadlock and Pierce (2010 and Dang (2011. The methodology of this research can be classified as exploratory, according to its purpose, qualitative in terms of approach and bibliographical considering its technical procedures. All the developed analysis led to the formulation of six theoretical propositions that support the relation between financial leverage and investment. The negative and positive effects of debt were considered according to growth opportunities, the supply of credit in the Brazilian context, the raising of risk and cost of capital and the allocation of resources obtained through external funding. Briefly, it can be concluded that these six theoretical propositions could serve as the fundamentals of the relation in question, two being based on the under-investment and overinvestment theories and the other four, on the Brazilian financial market aspects. All of them must be considered in the decision making of a financial manager, especially the related with the financing options.

Economics of oil regulation and the Brazilian reform: Some issues

Energy Technology Data Exchange (ETDEWEB)

Hernandez-Perez, Adriana, E-mail: adriana.perez@fgv.b [Center for Economics and Oil Studies, IBRE/Fundacao Getulio Vargas (Brazil)

2011-01-15

This paper reviews the economic fundamentals for regulation in the oil industry, with a focus on the current regulatory proposal for the Brazilian oil industry. The observed exploration and production (E and P) contracts foresee much of the characteristics of the optimal contract, with a remuneration structure that combines upfront with future payments to mitigate uncertainty and incentivize exploratory efforts. In Brazil, despite slow market deconcentration since 1997's liberalization, the current oil regulation is in general consistent with an optimal regulatory response. From an economic standpoint, the 2009's new regulatory proposal prompted by the major oil discoveries offshore in Brazil reduces the power of incentive schemes with respect to exploratory and cost-reducing efforts while the changes in the net risk of the E and P offshore activities are not so clear. - Research Highlights: {yields} The observed exploration and production (E and P) contracts foresee much of the characteristics of an optimal contract. {yields} The current oil regulation in Brazil is in general consistent with an optimal regulatory response. {yields} The changes in the net risk of the E and P offshore activities in Brazil are not so clear. {yields} The 2009's new regulatory proposal in Brazil reduces the power of incentive schemes with respect to exploratory and cost-reducing efforts.

What will working for an oil and gas company be like in the year 2000?

International Nuclear Information System (INIS)

Fuller, H.L.; Sullivan, J.; Davidson, G.A. Jr.; Beghini, V.G.; Mitchell, G.P.; Noto, L.A.; Keiser, R.; Allen, W.

1994-01-01

In a period of change and uncertainty, the question has no guaranteed answer. But to people who work in the oil and gas industry, and to those who might do so someday, it is crucial. Oil and Gas Journal posed the question to top executives in a sample of oil and gas companies. Their answers, in alphabetical order by company name, make up the first part of this special report. Executives comment in the following sections: Free trade promises era of prosperity; Future will be more than extension of trends now shaping the industry; Cooperation essential in era of rising competitive pressure; Technology central to success in new world of opportunity; Crude price the biggest wildcard in the US oil industry's future; Work force diversity a key part of an increasingly global business; Looking back from the future--The seamless energy company; and Gains seen in safety, rewards, satisfaction

Restructuring: new relationships between the oil companies and the upstream oil firms; Alliances et restructurations: nouvelles relations entre maitres d'oeuvre et parapetrolier

Energy Technology Data Exchange (ETDEWEB)

Barreau, S

2001-11-01

Since the 1986 oil shock, international oil companies have focused on their base competencies, concentrating on activities viewed as their core businesses and steadily increasing the number of tasks to be subcontracted to the upstream oil and gas service sector. The upstream oil and gas service companies had to be restructured to face this new challenge. The strategies they launched at the end of the 80's were varied. Some firms became largely integrated (Schlumberger, Baker Hughes, Halliburton) whereas other firms chose to broaden their range of services. However generally, they opted for external investment which led to an important wave of mergers and acquisitions. The first part characterizes the upstream oil and gas sector by introducing the main oil and gas service firms and their recent strategic evolution. This concludes with both an economic valuation and a typology of attempted growth strategies. To illustrate this, a matrix has been created to characterise the dynamic paths of the oil and gas service firms. The purpose of the second part is to consider the economic theories related to industrial strategies. The strategies of innovation, market protection, vertical integration and diversification have been studied to illustrate the main conclusion which is that the aim of all these strategies was to change the relationships between the oil companies and the upstream oil and gas service firms. (author)

Energy conservation and oil substitution at a dairy company

Energy Technology Data Exchange (ETDEWEB)

1983-10-01

Energy consumption data at the Bay of Islands Co-Operative Dairy Company for the 1980-1981 season were collected and analyzed according to energy demand and supply. Although oil consumption had been significantly reduced in the last few years, it was still a disproportionately large item in the energy budget. Given the existing coal handling facilities it seemed feasible to completely eliminate the need for oil except as a standby fuel. The study examined various options and three measures were proposed to achieve this goal. These were: (1) addition of two effects to the main evaporator, (2) replacement of the oil-fired spray drying air heater with steam coils, and (3) installation of coal-fired low pressure hot water boilers and associated pipework.

National and multinational oil companies. Strategy and performance

International Nuclear Information System (INIS)

Baddout, J.

2009-01-01

This article seeks to analyse the competition that has developed since the 1970's between the Majors and national oil companies o OPEC (NOCs) for the control of the global oil market. The excess production capacity strategy that the NOCs long followed was based on the exploitation of huge and low production cost oil reserves (static advantage) while that of the Majors has been based on the R and D of new technologies (dynamic advantage). The choice of NOCs did not turn out to be very effective as, apart from being static, excess capacity was not used by the NOCs as a strategically competitive weapon to dissuade Majors om staying in the market, but only to maximize their short-term profits. ts. On the other hand, the Majors' strategy turned out to be more effective, as not only did it allow them to regain their pre-1970 dominant position and to postpone the date of exhaustion of the resource by finding new reserves, and moreover, it dampened oil prices for a considerable period, thus depriving NOCs of part of their economic rent. (author)

Ship Routing with Pickup and Delivery for a Maritime Oil Transportation System: MIP Modeland Heuristics

DEFF Research Database (Denmark)

Rodrigues, Vinicius Picanco; Morabito, Reinaldo; Yamashita, Denise

2016-01-01

This paper examines a ship routing problem with pickup and delivery and time windowsfor maritime oil transportation, motivated by the production and logistics activities of an oil companyoperating in the Brazilian coast. The transportation costs from offshore platforms to coastal terminalsare...... application of two tailor-made MIP heuristics, based on relax-and-fix and timedecomposition procedures. The model minimizes fuel costs of a heterogeneous fleet of oil tankersand costs related to freighting contracts. The model also considers company-specific constraints foroffshore oil transportation....... Computational experiments based on the mathematical models and therelated MIP heuristics are presented for a set of real data provided by the company, which confirmthe potential of optimization-based methods to find good solutions for problems of moderate sizes....

Antibacterial activity, chemical composition, and cytotoxicity of leaf's essential oil from Brazilian pepper tree (Schinus terebinthifolius, Raddi

Directory of Open Access Journals (Sweden)

A.B. Silva

2010-03-01

Full Text Available The antibacterial potential of leaf's essential oil (EO from Brazilian pepper tree (Schinus terebinthifolius Raddi against staphylococcal isolates from dogs with otitis externa was evaluated. The minimum inhibitory concentration of EO ranged from 78.1 to 1,250 fg/mL. The oil was analyzed by GC and GC/MS and cytotoxicity tests were carried out with laboratory animals.

Antibacterial activity, chemical composition, and cytotoxicity of leaf's essential oil from brazilian pepper tree (schinus terebinthifolius, raddi).

Science.gov (United States)

Silva, A B; Silva, T; Franco, E S; Rabelo, S A; Lima, E R; Mota, R A; da Câmara, C A G; Pontes-Filho, N T; Lima-Filho, J V

2010-01-01

The antibacterial potential of leaf's essential oil (EO) from Brazilian pepper tree (Schinus terebinthifolius Raddi) against staphylococcal isolates from dogs with otitis externa was evaluated. The minimum inhibitory concentration of EO ranged from 78.1 to 1,250 μg/mL. The oil was analyzed by GC and GC/MS and cytotoxicity tests were carried out with laboratory animals.

The experience of western oil companies in Russia

International Nuclear Information System (INIS)

Moerland, A.

1994-01-01

The oil and gas industry is the most important industry to Russia providing 52% of all hard currency earnings for the country. The oil production is declining by more than 30% during recent years from 10.3 billion barrels per day in 1990 to 7.1 billion barrels today. The paper discusses the Amoco engagement in the Priobskoye Field in western Siberia containing up to 5 billion barrels of recoverable oil requiring capital investments of more than 25 billion dollars over the first 20 years. Over the last five years, foreign companies have worked with their Russian counterparts to complete numerous feasibility studies on many projects. In the next few months, important developments may take place such as the offshore Sakhalin in the East and the Timan Pechora region in the North. The experienced barriers connected to the activities, burden of taxes, policy issues etc., are dealt with

The experience of western oil companies in Russia

Energy Technology Data Exchange (ETDEWEB)

Moerland, A. [Amoco Erusia Petroleum Co., Moscow (Russian Federation)

1994-12-31

The oil and gas industry is the most important industry to Russia providing 52% of all hard currency earnings for the country. The oil production is declining by more than 30% during recent years from 10.3 billion barrels per day in 1990 to 7.1 billion barrels today. The paper discusses the Amoco engagement in the Priobskoye Field in western Siberia containing up to 5 billion barrels of recoverable oil requiring capital investments of more than 25 billion dollars over the first 20 years. Over the last five years, foreign companies have worked with their Russian counterparts to complete numerous feasibility studies on many projects. In the next few months, important developments may take place such as the offshore Sakhalin in the East and the Timan Pechora region in the North. The experienced barriers connected to the activities, burden of taxes, policy issues etc., are dealt with

The essential oil of Brazilian pepper, Schinus terebinthifolia Raddi in larval control of Stegomyia aegypti (Linnaeus, 1762)

Science.gov (United States)

2010-01-01

Background The ability of mosquitoes of the genus Aedes and its allies, such as Stegomyia, to transmit diseases such as dengue and yellow fever, makes them important in public health. This study aims to evaluate the use of the essential oil of Brazilian pepper in biological control of by assessing and quantifying the larvicidal effect against S. aegypti, the only available access to dengue control, and test its risk of genotoxicity with Salmonella typhimurium as an indicator of safety for its environmental use. Results The density of the oil was 0.8622 g mL-1. Gas chromatography coupled with mass spectrometry revealed six major constituents: δ-3-carene (55.43%), α-pinene (16.25%), sylvestrene (10.67%), germacrene D (2.17), β-myrcene (1.99%), and isoterpinolene (1.4%). The minimum inhibitory dose to larvae development was 862.20 μg mL-1. The median lethal dose (LD50) of the essential oil for larvae was between the concentrations of 172.44-344.88 μg mL-1. There was no mutagenic risk for the essential oil, since there were no biochemical or morphological changes in S. typhimurium after exposure to the essential oil. Conclusions The minimum inhibitory essential oil concentration and the median lethal dose pointed to the value of the use of water dispersions of Brazilian pepper essential oil as an environmental safe natural larvicidal for S. aegypti. PMID:20799936

The essential oil of Brazilian pepper, Schinus terebinthifolia Raddi in larval control of Stegomyia aegypti (Linnaeus, 1762

Directory of Open Access Journals (Sweden)

Silva Ary G

2010-08-01

Full Text Available Abstract Background The ability of mosquitoes of the genus Aedes and its allies, such as Stegomyia, to transmit diseases such as dengue and yellow fever, makes them important in public health. This study aims to evaluate the use of the essential oil of Brazilian pepper in biological control of by assessing and quantifying the larvicidal effect against S. aegypti, the only available access to dengue control, and test its risk of genotoxicity with Salmonella typhimurium as an indicator of safety for its environmental use. Results The density of the oil was 0.8622 g mL-1. Gas chromatography coupled with mass spectrometry revealed six major constituents: δ-3-carene (55.43%, α-pinene (16.25%, sylvestrene (10.67%, germacrene D (2.17, β-myrcene (1.99%, and isoterpinolene (1.4%. The minimum inhibitory dose to larvae development was 862.20 μg mL-1. The median lethal dose (LD50 of the essential oil for larvae was between the concentrations of 172.44-344.88 μg mL-1. There was no mutagenic risk for the essential oil, since there were no biochemical or morphological changes in S. typhimurium after exposure to the essential oil. Conclusions The minimum inhibitory essential oil concentration and the median lethal dose pointed to the value of the use of water dispersions of Brazilian pepper essential oil as an environmental safe natural larvicidal for S. aegypti.

Measuring the Spread Components of Oil and Gas Companies from CDS

Directory of Open Access Journals (Sweden)

Juliano Ribeiro de Almeida

2012-04-01

Full Text Available In this paper, we use the information from the credit default swap market to measure the main components of the oil and gas companies spread. Using nearly 20 companies of this industry with different ratings and nearly 80 bonds, the result was that the majority of the oil and gas spread is due to the default risk. We also find that the spread component related to the non-default is strongly associated with some liquidity measures of bond markets, what suggest that liquidity has a very important role in the valuation of fixed income assets. On the other side, we do not find evidence that the non-default component of the spread is related to tax matters.

Oil company profitability: observations on the use of oil product price assessments and associated errors

International Nuclear Information System (INIS)

Jenkins, Gilbert

2000-01-01

Oil companies often report the exact price obtained for crude oil sales. Furthermore, crude oil prices may be linked to the price of Brent crude oil which is actively and very transparently traded on the International Petroleum Exchange. Brent crude oil prices are reported worldwide electronically and in many newspapers on a daily basis. Gas oil (No. 2 Fuel oil in the USA) is actively traded on the IPE and on NYMEX and the prices are also reported worldwide almost instantaneously. One grade of unleaded gasoline is traded on NYMEX but all other oil products do not have regulated and transparent markets. The prices of these products are assessed by price reporters following daily discussions with active oil traders. Two prices are assessed and reported, the bid (low) and offer (high) even if no trade has taken place. The oil industry itself and oil products consumers make much use of these assessed prices. The object of this paper is to provide some statistical detail on the differences between various product price assessments made through 2000. From these differences, it is possible to provide an indication of the precision of oil product price assessments However, it is doubtful if precision data based on a simple determination of the standard deviation of the differences between the assessment made by the various price reporting services would be of practical use. (Author)

The role of reserves and production in the market capitalization of oil and gas companies

International Nuclear Information System (INIS)

Ewing, Bradley T.; Thompson, Mark A.

2016-01-01

We examine the role proved reserves and production play in the market capitalization of publicly traded oil and gas companies engaged in the exploration and production of hydrocarbons. The paper provides two important contributions to the literature. First, we extend the existing research by utilizing the method of Robust Least Squares to estimate a multivariate market capitalization model that controls for firm type. Second, we document the impacts that oil and gas reserves to production ratios have on market capitalization. This is a key finding in the context of discounted net cash flow models and the findings suggest there is an optimal tradeoff between current and future production, given current volumes of reserves, the latter of which is valued positively by the market. Moreover, this optimal tradeoff or the optimal profit-maximizing intertemporal production choice is unique to the type of hydrocarbon being considered. Additionally, our findings highlight the importance of capital structure in the heavily capital intensive oil and gas industry. The results from this research should benefit both oil and gas companies and investors. Specifically, the results provide new and robust information as to the empirical relationships between key determinants of oil and gas company market valuations. - Highlights: • We utilized Robust Least Squares to estimate a multivariate market capitalization model. • There is a differential impact that oil and gas reserves to production ratios have on market capitalization. • The optimal profit-maximizing intertemporal production choice is unique to the type of hydrocarbon being considered. • Results provide new information as to the relationships between key determinants of oil and gas company market valuations.

The relevance of the capital structure in firm performance: a multivariate analysis of Brazilian publicly traded companies

Directory of Open Access Journals (Sweden)

Luiz Kennedy Cruz Machado

2016-01-01

Full Text Available The economic changes in recent years have made the dynamics of the Brazilian market more complex, which directly impacts the administration of large organizations, particularly in management tasks, such as decisions concerning the definition of the capital structure. The literature in this theoretical field is polarized in two seminal works: the first, by Durand (1952, 1959, discusses the existence of an optimal capital structure that maximizes the value of the firm; and, at the other end, the work by Modigliani and Miller (1958, 1963 considers that it is irrelevant how firms are financed. In this sense, the objective was to verify the effective interference of the capital structure in the performance of Brazilian firms listed on BM&FBOVESPA. The sample consisted of cross-sectional data that were selected from the most recent balance sheets of all companies listed on BM&FBOVESPA, available in the Economática® database. The techniques used were the analysis of variance (ANOVA and discriminant analysis. Among the indicators used, it was observed that only general liquidity, the degree of immobilization, Tobin’s Q, and the opportunity for growth were significant at 1%. The results indicate that the capital structure is not directly related to the performance of Brazilian companies listed on BM&FBOVESPA. In the meantime, the results point to the consolidation of the financial theories expounded by Modigliani and Miller (1958, 1963, as opposed to the traditionalist current started in Durand’s studies (1952.

Restructuring: new relationships between the oil companies and the upstream oil firms; Alliances et restructurations: nouvelles relations entre maitres d'oeuvre et parapetrolier

Energy Technology Data Exchange (ETDEWEB)

Barreau, S

2001-11-01

Since the 1986 oil shock, international oil companies have focused on their base competencies, concentrating on activities viewed as their core businesses and steadily increasing the number of tasks to be subcontracted to the upstream oil and gas service sector. The upstream oil and gas service companies had to be restructured to face this new challenge. The strategies they launched at the end of the 80's were varied. Some firms became largely integrated (Schlumberger, Baker Hughes, Halliburton) whereas other firms chose to broaden their range of services. However generally, they opted for external investment which led to an important wave of mergers and acquisitions. The first part characterizes the upstream oil and gas sector by introducing the main oil and gas service firms and their recent strategic evolution. This concludes with both an economic valuation and a typology of attempted growth strategies. To illustrate this, a matrix has been created to characterise the dynamic paths of the oil and gas service firms. The purpose of the second part is to consider the economic theories related to industrial strategies. The strategies of innovation, market protection, vertical integration and diversification have been studied to illustrate the main conclusion which is that the aim of all these strategies was to change the relationships between the oil companies and the upstream oil and gas service firms. (author)

Environmental Discourses in Organizations: the Case of a Brazilian Mobile Telecommunications Company

Directory of Open Access Journals (Sweden)

Alexandre de Pádua Carrieri

2007-09-01

Full Text Available This paper examines the discourse configurations on the environmental theme in business organizations and its relevance to the understanding of the inclusion of ecological discourses in the discourses of organizational members. A case study into a Brazilian telecommunications company offers empirical evidence. It begins with the understanding that organizations adopt several strategies in an attempt to disseminate a certain environmental discourse. As these efforts share space with other pressures, a fragmented discourse emerges. In this paper, the pressures of the environmental theme on organizations are discussed in order to understand this process. The second part of the argument focuses on the context of the case study – Brazilian organizations – and, afterwards, the third part deals with ecological discourses in their insertions in organizational interests. The data of the case study were collected through documental research and 40 semi-structured interviews. The analysis was applied based on Discourse Analysis. In conclusion, an ambiguous discourse configuration was shown that offer elements for the understanding that philanthropy, legal obligation and organizational competitiveness need to be used together to offer legitimacy to the theme of environmental responsibility in business organizations.

Exploratory assessment of the economic gains of a pre-salt oil field in Brazil

International Nuclear Information System (INIS)

Araujo Rodrigues, Larissa; Luís Sauer, Ildo

2015-01-01

In recent years, Brazil has made public several oil discoveries located in deep waters, below the salt layer. Discoveries are steadily enhancing national reserves and have brought the country into a new role in the global oil industry. This paper aims at investigating the economic gains that could be expected from a Brazilian oil field in the pre-salt region. Analyses were conducted based on the Libra field, the largest oil discovery in Brazil until now, with approximately 10 billion barrels. The results were calculated for different scenarios of oil prices, companies' arrangements and regulatory regimes. The findings suggest that economic gains could be higher for the Brazilian Government if the oil production were conducted under a service contract scheme. However, considering the current production-sharing regime in force for pre-salt areas, economic gains could be higher if a bidding process was conducted, ensuring for the Brazilian Government a higher participation in the oil to be produced. Additionally, the results demonstrate that under the current rules applied for the production-sharing regime, the government quota of oil has decreased over time, putting at risk economic results. - Highlights: • The paper investigates the economic gains of a pre-salt oil field in Brazil. • Government earnings could be higher under a service contract scheme. • The first production-sharing regime bid did not encourage competition. • Under the production-sharing rules government quota of oil decreases over time.

Antinociceptive and hypothermic evaluation of the leaf essential oil and isolated terpenoids from Eugenia uniflora L. (Brazilian Pitanga).

Science.gov (United States)

Amorim, Ana Carolina L; Lima, Cleverton Kleiton F; Hovell, Ana Maria C; Miranda, Ana Luisa P; Rezende, Claudia M

2009-10-01

Eugenia uniflora L. (Myrtaceae), known as Brazilian cherry tree, is a fruity tree spread all over Brazil used in popular medicine to treat inflammations, rheumatic pain and fever, as hypoglycemic, diuretic and has been widely used in the cosmetics industry. The present study discusses the chemical composition, the antinociceptive and hypothermic profile of the essential oil of pitangueira leaves. The chemical composition was evaluated by GC-MS and the main constituent of the oil was characterized, after isolation, as a mixture of atractylone (1) and 3-furanoeudesmene (2). The essential oil, its pentane fraction and the isolated mixture of sesquiterpenes (1 and 2), given orally, significantly inhibited the acetic acid-induced abdominal constrictions, increased the latency time in hot plate test and showed a hypothermic effect. The results suggest that the responsible for the antinociceptive and hypothermic effect were the isolated furanosesquiterpenes. These findings provided additional pharmacological information and may contribute for the use of Brazilian cherry tree as a phytomedicine.

Successful phytoremediation of crude-oil contaminated soil at an oil exploration and production company by plants-bacterial synergism.

Science.gov (United States)

Fatima, Kaneez; Imran, Asma; Amin, Imran; Khan, Qaiser M; Afzal, Muhammad

2018-06-07

Phytoremediation is a promising approach for the cleanup of soil contaminated with petroleum hydrocarbons. This study aimed to develop plant-bacterial synergism for the successful remediation of crude oil-contaminated soil. A consortia of three endophytic bacteria was augmented to two grasses, Leptochloa fusca and Brachiaria mutica, grown in oil-contaminated soil (46.8 g oil kg -1 soil) in the vicinity of an oil exploration and production company. Endophytes augmentation improved plant growth, crude oil degradation, and soil health. Maximum oil degradation (80%) was achieved with B. mutica plants augmented with the endophytes and it was significantly (P oil reduction indicates that catabolic gene expression is important for hydrocarbon mineralization. This investigation showed that the use of endophytes with appropriate plant is an effective strategy for the cleanup of oil-contaminated soil under field conditions.

'Building on our own abilities' : Suriname's State Oil Company as a development agent

NARCIS (Netherlands)

W. Hout (Wil)

2007-01-01

textabstractThis paper analyses the conditions under which the Surinamese State Oil Company (Staatsolie) has been consolidated, not only as a firm oriented at the production of oil, but also as a development agent. Staatsolis chances to success seemed rather slim at its creation in the beginning of

Role of oil service companies in developing human resources worldwide to implement new technology

Energy Technology Data Exchange (ETDEWEB)

Baird, D.E.; Bismuth, B.

1983-01-01

The role of specialized oil service companies in helping the oil industry develop the hydrocarbon resources of the world efficiently has increased over the last 20 yr. This trend is expected to continue as the complexity and variety of the techniques required increased. In order to provide a large range of services worldwide, the oil service industry has to be highly flexible and mobile. At the same time, successful implementation of these services requires a knowledge of and empathy with local conditions and cultures. The challenge will be to attract, train, and develop technical people from all corners of the globe to become part of the process of developing and implementing new technology. The involvement of the developing nations in the technical evolution of the oil service companies is perhaps the only long-lasting method of transferring these technologies.

Antibacterial activity, chemical composition, and cytotoxicity of leaf?s essential oil from brazilian pepper tree (schinus terebinthifolius, raddi)

OpenAIRE

Silva, A.B.; Silva, T.; Franco, E.S.; Rabelo, S.A.; Lima, E.R.; Mota, R.A.; da C?mara, C.A.G.; Pontes-Filho, N.T.; Lima-Filho, J.V.

2010-01-01

The antibacterial potential of leaf?s essential oil (EO) from Brazilian pepper tree (Schinus terebinthifolius Raddi) against staphylococcal isolates from dogs with otitis externa was evaluated. The minimum inhibitory concentration of EO ranged from 78.1 to 1,250 ?g/mL. The oil was analyzed by GC and GC/MS and cytotoxicity tests were carried out with laboratory animals.

Antibacterial activity, chemical composition, and cytotoxicity of leaf’s essential oil from brazilian pepper tree (schinus terebinthifolius, raddi)

Science.gov (United States)

Silva, A.B.; Silva, T.; Franco, E.S.; Rabelo, S.A.; Lima, E.R.; Mota, R.A.; da Câmara, C.A.G.; Pontes-Filho, N.T.; Lima-Filho, J.V.

2010-01-01

The antibacterial potential of leaf’s essential oil (EO) from Brazilian pepper tree (Schinus terebinthifolius Raddi) against staphylococcal isolates from dogs with otitis externa was evaluated. The minimum inhibitory concentration of EO ranged from 78.1 to 1,250 μg/mL. The oil was analyzed by GC and GC/MS and cytotoxicity tests were carried out with laboratory animals. PMID:24031476

Evaluating perceived quality of CELPE service: A Brazilian power company case study

International Nuclear Information System (INIS)

Paes de Barros Filho, Joao; Fritsch Damasio da Silva, Cleriston; Nascimento Melo, Maria Auxiliadora do; Dumke de Medeiros, Denise

2009-01-01

This paper presents an application of a methodology for the diagnosis and analysis of the service quality perceived by a Particular Group of CELPE Corporate Customers, a Brazilian power company at Pernambuco State. Concepts, on the power sector, of Quality in Services, Performance Objectives and Critical Factors of Success have been used to develop the analysis. Next, the Critical Factors for a power company were determined and classified in accordance with the performance objectives: Quality, Dependability, Speed and Flexibility. From the factors established, a questionnaire was created to collect data. The case studied involves quantitative research on CELPE's private corporate principal customers using statistical tests to measure internal consistency reliability of the questionnaire scales and to identify underlying concepts, in the four groups analyzed, through which the private corporate customers perceive quality in the given services. Among the goals of this study are to improve the relationship with principal Private Corporate Clients, to create customer loyalty, and to maximize efforts in providing the power supply service, all of them with a view to improving and determining the Global Satisfaction Index

Evaluating perceived quality of CELPE service: A Brazilian power company case study

Energy Technology Data Exchange (ETDEWEB)

Paes de Barros Filho, Joao [Federal University of Pernambuco (UFPE), Center of Technology and Geosciences, 5th floor, Academico Helio Ramos av., Cidade Universitaria, Recife, PE 50.670-901 (Brazil)], E-mail: joaopaes@celpe.com.br; Fritsch Damasio da Silva, Cleriston [Federal University of Pernambuco (UFPE), Center of Technology and Geosciences, 5th floor, Academico Helio Ramos av., Cidade Universitaria, Recife, PE 50.670-901 (Brazil)], E-mail: cleriston_silva@yahoo.com.br; Nascimento Melo, Maria Auxiliadora do [Federal University of Pernambuco (UFPE), Center of Technology and Geosciences, 5th floor, Academico Helio Ramos av., Cidade Universitaria, Recife, PE 50.670-901 (Brazil)], E-mail: manmelo@ufpe.br; Dumke de Medeiros, Denise [Federal University of Pernambuco (UFPE), Center of Technology and Geosciences, 5th floor, Academico Helio Ramos av., Cidade Universitaria, Recife, PE 50.670-901 (Brazil)], E-mail: ddm@ufpe.br

2009-04-15

This paper presents an application of a methodology for the diagnosis and analysis of the service quality perceived by a Particular Group of CELPE Corporate Customers, a Brazilian power company at Pernambuco State. Concepts, on the power sector, of Quality in Services, Performance Objectives and Critical Factors of Success have been used to develop the analysis. Next, the Critical Factors for a power company were determined and classified in accordance with the performance objectives: Quality, Dependability, Speed and Flexibility. From the factors established, a questionnaire was created to collect data. The case studied involves quantitative research on CELPE's private corporate principal customers using statistical tests to measure internal consistency reliability of the questionnaire scales and to identify underlying concepts, in the four groups analyzed, through which the private corporate customers perceive quality in the given services. Among the goals of this study are to improve the relationship with principal Private Corporate Clients, to create customer loyalty, and to maximize efforts in providing the power supply service, all of them with a view to improving and determining the Global Satisfaction Index.

Evaluating perceived quality of CELPE service. A Brazilian power company case study

Energy Technology Data Exchange (ETDEWEB)

De Barros Filho, Joao Paes; Da Silva, Cleriston Fritsch Damasio; Do Nascimento Melo, Maria Auxiliadora; De Medeiros, Denise Dumke [Federal University of Pernambuco (UFPE), Center of Technology and Geosciences, 5th floor, Academico Helio Ramos av., Cidade Universitaria, Recife, PE 50.670-901 (Brazil)

2009-04-15

This paper presents an application of a methodology for the diagnosis and analysis of the service quality perceived by a Particular Group of CELPE Corporate Customers, a Brazilian power company at Pernambuco State. Concepts, on the power sector, of Quality in Services, Performance Objectives and Critical Factors of Success have been used to develop the analysis. Next, the Critical Factors for a power company were determined and classified in accordance with the performance objectives: Quality, Dependability, Speed and Flexibility. From the factors established, a questionnaire was created to collect data. The case studied involves quantitative research on CELPE's private corporate principal customers using statistical tests to measure internal consistency reliability of the questionnaire scales and to identify underlying concepts, in the four groups analyzed, through which the private corporate customers perceive quality in the given services. Among the goals of this study are to improve the relationship with principal Private Corporate Clients, to create customer loyalty, and to maximize efforts in providing the power supply service, all of them with a view to improving and determining the Global Satisfaction Index. (author)

Study of the gelation behaviour of Brazilian waxy crude oils

Energy Technology Data Exchange (ETDEWEB)

Ziglio, C.M.; Sant' Ana, D.F. [Petroleo Brasileiro S.A., Petrobras, Rio de Janeiro (Brazil)

2008-07-01

The precipitation of wax from crude oil results in the formation of a paraffin network which evolves into a gel structure, causing a major operating issue for the petroleum industry. A gelled oil in a pipeline may need a very high re-start pressure that is beyond the capacity of the pump. The gelation of the oil can also develop into a wax deposit on the pipeline wall that restricts the flow of crude oil. Rheometry tests were used in this study to determine the yielding process of wax gels formed by the cooling of Brazilian crude oils. The effect of selected chemical additives on the gel strength was also examined. Dynamic rheology was used to study the oil-gel transition under quiescent conditions. Two rheological methods were used to study the gel yield stress, which is related to the gel strength. In the Creep and Recovery method, a stress was applied to the sample for a short period while the resulting deformation was measured. The stress was then removed to allow the sample to recover the gel structure. The steps of creep and recovery were repeated with an increasing stress value. The yield stress was identified as the minimum stress to cause an irreversible deformation in the sample. The yield stress of the gelled oil was estimated through dynamic measurements. Gel breakdown occurred when the sample was submitted to a critical strain, which is related to the yield stress value. This study showed that the gelation temperature can be reduced considerably by adding small amounts of readily available additives. These additives have an influence on yield stress values. In a cold re-start situation, they can reduce the pump pressure.

A spatial price equilibrium model in the oligopolistic market for oil derivatives: an application to the brazilian scenario

Directory of Open Access Journals (Sweden)

Fabiano Mezadre Pompermayer

2007-01-01

Full Text Available This paper presents a spatial price equilibrium model in an oligopoly market for refined oil products. Till 1997 the Brazilian oil market was characterized by the state monopoly of Petrobras, which up to 2001 remained the only firm authorized to import oil derivatives. With several agents operating in the primary oil supply market, the government stopped fixing the prices for Petrobras, which started to determine the prices based on competition with other players. In this new scenario some questions arise regarding the price levels at which refined products will be supplied in different regions across Brazil as well as the capacity of national refineries to compete with imported products. To answer those and other questions, a new oligopoly spatial equilibrium model is herein proposed, taking into account the special characteristics of production of refined oil products. An iterative Gauss-Seidel-like algorithm with sequential adjustments was developed and applied to Brazilian market data. The model, the algorithm and its application are described in this work. Such a model may be used both by regulatory authorities and by companies in the sector.Este artigo apresenta um modelo de equilíbrio espacial de preços em um mercado oligopolizado de derivados de petróleo. Até o ano de 1997, o mercado brasileiro era caracterizado pelo monopólio estatal da Petrobrás, a qual permaneceu, até 2001, como a única empresa autorizada a importar derivados de petróleo. Com vários agentes operando no mercado, o governo deixou de fixar os preços para a Petrobrás, que passou a determinar os preços baseada na competição com outros agentes. Neste cenário, surgem algumas questões relativas aos níveis de preços a serem oferecidos no mercado e relativas à capacidade das refinarias nacionais de competir com produtos importados. Para responder a estas e outras questões, um novo modelo de equilíbrio espacial de preços para um mercado oligopolizado foi

Competition between Chinese and Indian Oil & Gas Companies and its Implications for Sino-Indian Bilateral Relations

Directory of Open Access Journals (Sweden)

V V Shikin

2015-12-01

Full Text Available This article concerns overseas oil & gas assets acquisitions made by Chinese and Indian national oil companies (NOCs within the last two decades. The paper analyzes whether these companies pursue commercial interests of their shareholders or political will of national governments. To answer this question the author examines Chinese and Indian corporations’ organization and ownership structure foundations of which were laid in the 1990s when both countries’ energy sectors faced structural reforms resulted in transforming archaic governmental organizations into modern competitive state-owned corporations that could compete with the leading Western oil and gas companies. The article also scrutinizes competition between Chinese and Indian companies so as to find out if it is able to affect political relations between Beijing and Delhi, exacerbates existing conflicts or cause the emergence of the new ones. To address this issue the author analyzes some cases of Sino-Indian clash of energy interests in different regions of the world.

Second quarter trims earnings gain of OGJ group of U.S. oil companies

International Nuclear Information System (INIS)

Beck, R.J.; Biggs, J.B.

1991-01-01

This paper reports that first half of 1991 profits for the Oil and Gas Journal group of 22 large U.S. oil companies totaled $10,553 billion, down a scant 0.1% from the same period the year before. However, second quarter profits were down sharply, dipping to $3.656 billion or 27.4% below the second quarter of 1990. This is in sharp contrast with first quarter profits, which totaled $6.897 billion and were up 24.8% from the same period of 1990. First half individuals results were widely diverse, with seven companies showing profit improvements from last year and 15 companies a decline. Only one, Murphy Oil Co., posted a loss in the first half. Six companies showed profit gains of more than 20% and 11 posted declines greater than 20%. In the second quarter 16 of the group had lower earnings than they booked in the same period of 1990. Restructuring charges and gains, along with provisions for future environmental costs, continued to have a great deal of influence over year to year changes in profits. Chemical earnings were down for the 6 months and in the second quarter for most companies. U.S. refining and marketing earnings were mixed but generally lower for both periods. Due to an economic recession product demand was down in the first half of this year. Non-U.S. refining and marketing profits were up for the first half, but the gain stemmed from improved margins in the first quarter

Falling R and D but stable investments by oil companies, why? A study on R and D and investment in fixed assets in the oil industry

International Nuclear Information System (INIS)

Creusen, H.; Minne, B.

2000-04-01

In the last decade the world-wide research expenditures of the major oil companies have dropped. This is remarkable since their investments in fixed assets remained stable. This study reveals that the level of fixed investments particularly depend on their financial strength, while R and D mainly relates to competitors' research and common expectations. The decline in R and D is initiated by common expectations. In the mature oil industry, companies foresee diminishing research potential within the current technology. This is also confirmed by the declining number of patent applications. The high risks of research on renewable energy may lead to wait and see behaviour instead of new research initiatives. Actually, oil companies have hardly applied for patents on renewable energy. The R and D decline is intensified by a dwindling R and D-race, which is due to a large overlap in research topics. The companies protect their research results because they largely compete on their unique technologies which embody their research results. The research overlap appears from patents: the oil companies apply for patents in exactly the same patent classes. 19 refs

Oil Palm Expansion in the Brazilian Amazon (2006-2014): Effects of the 2010 Sustainable Oil Palm Production Program

Science.gov (United States)

Benami, E.; Curran, L. M.

2017-12-01

Brazil has the world's largest suitable land area for oil palm (Elaeis guineensis) establishment, with estimates as high as 238 million ha. To promote oil palm development, Brazil launched the Sustainable Palm Oil Production Program (SPOPP) in 2010 and delineated 30 million ha for its growth that excluded forested areas and indigenous reserves. Here we examine oil palm expansion (2006-2014) as well as the SPOPP's effectiveness in Pará, the major oil palm producing state in Brazil. By combining analyses of satellite imagery, land registration data, and site based interviews, we found that oil palm area expanded 205%. Although >50% of oil palm parcels were located within 0.5 km of intact forests, lands. Direct intact forest conversion pre- and post-SPOPP declined from 4% to <1%; however, <1% of the 30 million ha promoted for oil palm was developed by 2014. To explore the major factors that may have constrained oil palm expansion under the SPOPP, we conducted microeconomic simulations of oil palm production, combined with interviews with actors/individuals from oil palm companies, civil society, researchers at universities and NGOs, and governmental agencies. Brazil's oil palm-deforestation dynamics, policies, and economic conditions will be discussed.

The relationship between corporate governance and capital structure of Brazilian companies during 2000-2013 period

Directory of Open Access Journals (Sweden)

Camila Veneo Campos Fonseca

2016-08-01

Full Text Available The purpose of this study is to explore the impact of corporate governance practices on capital structure of 252 Brazilian non-financial public listed companies between 2000 and 2013. Panel data econometric techniques were used, with the adoption of a System Generalized Methods of Moments estimator in order to control the potential sources of endogeneity between ownership structure and governance practices. Results show evidence that high corporate governance levels improved the access to debt capital and increased the debt maturity.

Increased productivity through waste reduction effort in oil and gas company

Science.gov (United States)

Hidayati, J.; Silviana, NA; Matondang, RA

2018-02-01

National companies engaged in oil and gas activities in the upstream sector. In general, the on going operations include drilling, exploration, and production activities with the result being crude oil channelled for shipment. Production activities produce waste gas (flare) of 0.58 MMSCFD derived from 17.05% of natural gas produced. Gas flares are residual gases that have been burning through flare stacks to avoid toxic gases such as H2S and CO that are harmful to human health and the environment. Therefore, appropriate environmental management is needed; one of them is by doing waste reduction business. Through this approach, it is expected that waste reduction efforts can affect the improvement of environmental conditions while increasing the productivity of the company. In this research begins by identifying the existence of problems on the company related to the amount of waste that is excessive and potentially to be reduced. Alternative improvements are then formulated and selected by their feasibility to be implemented through financial analysis, and the estimation of alternative contributions to the level of productivity. The result of this research is an alternative solution to solve the problem of the company by doing technological based engineering by reusing gas flare into fuel for incinerator machine. This alternative contributes to the increased productivity of material use by 23.32%, humans 83.8%, capital 10.13 %, and waste decreased by 0.11%.

Brazilian human resources in a polarized Latin America

Directory of Open Access Journals (Sweden)

Elza Fátima Rosa Veloso

2014-12-01

Full Text Available This article provides an overview of human resource strategies employed by Brazilian companies in a polarized region of Latin America. Firstly, we highlighted the concerns of Brazilian managers in respect to the coming years, and to identify the current strategic approach of prominent companies in the Brazilian market. Secondly, we identified possible strategies for internationalization, particularly in the context of Latin America. The results of two surveys were used: one prospecting management trends by 2015 and another consisting of a sample of 541 companies that participate in a national survey in which HR managers answered a questionnaire. Among the results, it is noteworthy that the main issues of concern for Brazilian managers in the coming years. We found most the companies concerned with these challenges in the industries of information technology, iron and steel, and health services. Forty-nine of a total of 541 companies intend to internationalize, 17 of them towards Latin American. Their profile characterization allowed us to divide them into two groups: those focusing on the local needs of Latin American, and those looking to meet the expanding needs of Brazil or the country of their parent company.

Ship Routing with Pickup and Delivery for a Maritime Oil Transportation System: MIP Model and Heuristics

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Vinícius P. Rodrigues

2016-09-01

Full Text Available This paper examines a ship routing problem with pickup and delivery and time windows for maritime oil transportation, motivated by the production and logistics activities of an oil company operating in the Brazilian coast. The transportation costs from offshore platforms to coastal terminals are an important issue in the search for operational excellence in the oil industry, involving operations that demand agile and effective decision support systems. This paper presents an optimization approach to address this problem, based on a mixed integer programming (MIP model and a novel and exploratory application of two tailor-made MIP heuristics, based on relax-and-fix and time decomposition procedures. The model minimizes fuel costs of a heterogeneous fleet of oil tankers and costs related to freighting contracts. The model also considers company-specific constraints for offshore oil transportation. Computational experiments based on the mathematical models and the related MIP heuristics are presented for a set of real data provided by the company, which confirm the potential of optimization-based methods to find good solutions for problems of moderate sizes.

ASSESSMENT OF CO2 EMISSION MITIGATION FOR A BRAZILIAN OIL REFINERY

Directory of Open Access Journals (Sweden)

W. N. Chan

Full Text Available Abstract Currently the oil refining sector is responsible for approximately 5% of the total Brazilian energy related CO2 emissions. Possibilities to reduce CO2 emissions and related costs at the largest Brazilian refinery have been estimated. The abatement costs related to energy saving options are negative, meaning that feasibility exists without specific income due to emission reductions. The assessment shows that short-term mitigation options, i.e., fuel substitution and energy efficiency measures, could reduce CO2 emissions by 6% of the total current refinery emissions. It is further shown that carbon capture and storage offers the greatest potential for more significant emission reductions in the longer term (up to 43%, but costs in the range of 64 to162 US$/t CO2, depending on the CO2 emission source (regenerators of FCC units or hydrogen production units and the CO2 capture technology considered (oxyfuel combustion or post-combustion. Effects of uncertainties in key parameters on abatement costs are also evaluated via sensitivity analysis.

The evaluation of supply chain performance in the Oil Products Distribution Company, using information technology indicators and fuzzy TOPSIS technique

Directory of Open Access Journals (Sweden)

Daryosh Mohamadi Janaki

2018-08-01

Full Text Available Information Technology (IT plays an essential role on development of effective supply chain planning and it can improve the supply chain performance, either directly or indirectly. As a national industry, the National Iranian Oil Products Distribution Company involves a large number of organizations within its supply chain. Therefore, this descriptive-survey uses information sharing indicators, fuzzy TOPSIS technique based on managers and expert opinions to evaluate and to rank some oil products distribution companies. Data are analyzed and the results show that Oil Products Distribution Company of Chaharmahal and Bakhtiari received the highest rank and Farsan maintained the lowest rank compared with other regional companies.

Market entry mode and competency building of Western oil companies in the Russian up stream oil and gas industry

Science.gov (United States)

Stephenson, Paul M.

This dissertation investigated the market entry and competency building strategies within the context of the Russian oil and gas industry. The study was designed to be of interest to business practitioners and academics given the growing importance of fossil fuel in the energy balance of the global economy and the importance of Russia as a supplier and purchaser in the international market. The study's mixed methodology provides an understanding on the environmental factors that are postulated to impact foreign direct investment flow into Russia and the oil and gas sector. A case study of a fictitiously named Western-Russo oil company was conducted to provide a deep understanding of how capability is viewed by Russian and Western employees and the factors that influences the implementation of a successful competency development program. The case was centered on the development of a Well-Site supervisor group within a Western-Russian oil company. Findings of the study showed that there was no correlation between corruption and foreign direct investment inflow into the Russian economy. The findings also showed that both Russian and Western employees in the oil and gas industry are less focused on nontechnical competency development issues, that Western employees are more orientated towards the bottom-line than Russian employees, and that both groups see operational management as a core competency. In the area of financial management and technology application, there were significant differences in the viewpoint of both groups. Western employees saw a stronger need for financial management and less need for technology application when compared to their Russian counterparts. The results have implications for Western business contemplating entering the Russian oil and gas industry. Western firms need to understand the key drivers that will help them overcome the social and cultural barriers between Western and Russian employees. The role of the company leader is very

Relation of sulfur with hydrocarbons in Brazilian heavy and extra-heavy crude oil; Relacao do enxofre com os hidrocarbonetos em petroleos pesados e extra pesados brasileiros

Energy Technology Data Exchange (ETDEWEB)

Iorio, Sonia Maria Badaro Mangueira; Guimaraes, Regina Celia Lourenco; Silva, Maria do Socorro A. Justo da [PETROBRAS S.A., Rio de Janeiro, RJ (Brazil); Costa, Alexander Vinicius Moraes da [Fundacao Gorceix, Ouro Preto, MG (Brazil)

2008-07-01

As the occurrence of heavy and extra-heavy oils increases sensitively, their participation in the refineries feeding also becomes greater. Heavy oils usually have lower price than a light one, because they produce lower quality derivatives and it's more difficult to meet the specifications. Crude oils are a complex mixture, mostly compounded by carbon and hydrogen and also by impurities like sulfur, nitrogen, oxygen and metals. Sulfur is the third most abundant component of crude oils, following carbon and hydrogen. In general there is a strong positive correlation between the concentrations of polar compounds (aromatics, resins and asphaltenes), and the sulfur content. This work presents graphically sulfur content and polar compounds concentrations for Brazilian and foreign heavy and extra-heavy oils (< 20 deg API). The results of the data analysis indicate that Brazilian crude oils behave differently from foreign heavy and extra-heavy oils. (author)

The oil companies in the year 2000: an analysis of their financial situation

International Nuclear Information System (INIS)

Cueille, J.Ph.

2001-01-01

The results of the oil companies in the year 2000 have been exceptionally good, due to the high prices of crude oil and the refining margins. The profits of the year rose strongly compared with those of 1999, with a capital efficiency often close to 20%. The pre-production stages (petroleum and natural gas production) are a major contribution to the results, followed from far by the downs-stream sectors, chemistry and gas-electricity. In a context of weak stock markets, the market capitalization of the companies has generally risen slightly. The growth of the financial resources has enabled the continuation of the reduction policies of indebtedness and repurchase of its own actions. However, investments have remained globally stable, the companies having anticipated a growth in the year 2000. The first semester of 2001 presents results that can be compared with those of the same period in the year 2000, yet with signs of decline at the end of the second semester. (authors)

Comparison of the reorganisations of BP and Shell and possible opportunities for Middle East and North African Oil companies

Energy Technology Data Exchange (ETDEWEB)

Jenkins, Gilbert

1999-07-01

A critical analysis is provided of the recent reorganisations of the downstream and petrochemical activities of BP and Shell. BP (or BP Amoco including Arco) and Shell are preparing for the next decade anticipating the environment and changing the companies to maximise their profitability in that environment. For the oil producing countries of the Middle East and North Africa (MENA), there are lessons to be learned both from the forecasts which BP Amoco and Shell are making and from the way these companies intend to operate. BP Amoco's view of oil refining is that the surplus capacity is endemic; Shell's view is that it is transient. BP Amoco will market oil products selectively across the world; Shell is still intent on a global approach. Both BP Amoco and Shell will minimise their wholesaling activities in the retail market and expand their merchandising with ever better quality sites. In the petrochemicals sector, the companies are taking similar actions, ie concentrating on positions of strength and selling business activities with low market shares or poor profitability. Petrochemical sites will be favoured when they have access to company produced hydrocarbon feedstocks. From the analysis, it is suggested that MENA oil companies will need to consider carefully the timing of any new refinery building. The reorganisation of the major OECD-based oil companies should offer opportunities for MENA companies to secure outlets for LPG and condensates, to form marketing alliances in OECD markets and to become involved in OECD-based petrochemical businesses.

Comparison of the reorganisations of BP and Shell and possible opportunities for Middle East and North African Oil companies

International Nuclear Information System (INIS)

Jenkins, Gilbert

1999-01-01

A critical analysis is provided of the recent reorganisations of the downstream and petrochemical activities of BP and Shell. BP (or BP Amoco including Arco) and Shell are preparing for the next decade anticipating the environment and changing the companies to maximise their profitability in that environment. For the oil producing countries of the Middle East and North Africa (MENA), there are lessons to be learned both from the forecasts which BP Amoco and Shell are making and from the way these companies intend to operate. BP Amoco's view of oil refining is that the surplus capacity is endemic; Shell's view is that it is transient. BP Amoco will market oil products selectively across the world; Shell is still intent on a global approach. Both BP Amoco and Shell will minimise their wholesaling activities in the retail market and expand their merchandising with ever better quality sites. In the petrochemicals sector, the companies are taking similar actions, ie concentrating on positions of strength and selling business activities with low market shares or poor profitability. Petrochemical sites will be favoured when they have access to company produced hydrocarbon feedstocks. From the analysis, it is suggested that MENA oil companies will need to consider carefully the timing of any new refinery building. The reorganisation of the major OECD-based oil companies should offer opportunities for MENA companies to secure outlets for LPG and condensates, to form marketing alliances in OECD markets and to become involved in OECD-based petrochemical businesses

Dietary Brazilian red pepper essential oil on pork meat quality and lipid oxidation

OpenAIRE

Gois, Franz Dias; Sbardella, Maicon; Lima, Cristiane Bovi de; Migotto, Dannielle Leonardi; Cairo, Pedro Leon Gomes; Garbossa, Cesar Augusto Pospissil; Racanicci, Aline Mondini Calil; Costa, Leandro Batista

2016-01-01

ABSTRACT: The purpose of this study was to evaluate the effects of feeding pigs with diets containing increasing levels of Brazilian red pepper essential oil ( Schinus terebinthifolius Raddi) on the physical attributes, fatty acid profile and oxidative stability of precooked meat. Seventy-two weanling pigs (5.7±0.8kg) were allotted in a completely randomized block design experiment with four treatments, six replicates per treatment, and three animals per experimental unit (pen). Animals were ...

Chemical and biological study of essential oils from Eugenia pruniformis cambess., an endemic species from Brazilian Atlantic Forest

OpenAIRE

Albuquerque, Ricardo D.D.G.; Tietbohl, Luis A. C.; Fernandes, Caio P.; Couteiro, Pedro P.; Eiriz, Débora N.; Santos, Marcelo G.; Silva Filho, Moacélio V.; Alves, Gutemberg G.; Bachinski, Róber; Rocha, Leandro

2012-01-01

Eugenia pruniformis Cambess. is an endemic species from Brazilian Atlantic Forest. Essential oils from leaves and fruits from this species were obtained by hydrodistillation and analyzed by GCMS/CG-FID. In all, 25 compounds were identified, with predominance of sesquiterpene hydrocarbons in both plant parts. The major compounds were β-caryophyllene, bicyclogermacrene, germacrene D, δ- cadinene and α-copaene. Antioxidant activity was performed for essential oil from leaves using ORAC method, s...

BRAZILIAN MULTINATIONAL COMPANIES: THE ROLE OF TECHNOLOGY IN THE CONQUEST OF THE EXTERNAL MARKET

Directory of Open Access Journals (Sweden)

Eva Stal

2005-01-01

Full Text Available The paper intends to show the importance of the internationalization process of companies from developing countries, which face global competition. Outside production stimulates the exports of raw materials, components and finished products, mainly in industrial sectors that produce differentiated goods of a higher technological content. Besides, the presence in more demanding markets facilitates the incorporation of new technologies and capacity building. Based on the behavioral and economical theories that explain the internationalization process of firms, a case study was conducted in Sabó, an autoparts manufacturer, and one of the few national firms that survived the liberalization process of the Brazilian economy, in 1990. This is explained by its innovative characteristics, which allows it to compete in the international market with the biggest companies in its sector. We conclude that, in the presence of a strong asset, like innovative technologies, the economical theories provide a better support for a successful internationalization process.

Developing and Managing Cross-Functional Teams: A Multi-Case Study of Brazilian Manufacturing Companies

Directory of Open Access Journals (Sweden)

Márcio Lopes Pimenta

2014-06-01

Full Text Available The growth of industries and the strong economic base in Brazil require improvements and adaptations in business processes. Cross-functional teams (CFT may help to companies achieve these improvements. This research looks at characterizing CFT according to application processes, structures, objectives and impacts, considering the context of demand planning and related processes. In-depth interviews with 22 managers were performed in three Brazilian manufacturing companies. A framework to characterize CFT and respective impacts is proposed, including elements such as: procedures, context and goals, power distribution, impacts on cross-functional integration, impacts on teams' performance and on organization's performance. One significant managerial finding is that effective and efficient CFTs need balanced distribution of power among members by effectively establishing and structuring the team. By doing this, managers may observe positive impacts on inter-functional integration and in firm's results. Moreover, teams should permanently perform joint planning to predict unfavorable situations, improve communication and mutual understanding.

The use of Brazilian vegetable oils in nanoemulsions: an update on preparation and biological applications

Directory of Open Access Journals (Sweden)

Lisiane Bajerski

Full Text Available ABSTRACT Vegetable oils present important pharmacological properties, which gained ground in the pharmaceutical field. Its encapsulation in nanoemulsions is considered a promising strategy to facilitate the applicability of these natural compounds and to potentiate the actions. These formulations offer several advantages for topical and systemic delivery of cosmetic and pharmaceutical agents including controlled droplet size, protection of the vegetable oil to photo, thermal and volatilization instability and ability to dissolve and stabilize lipophilic drugs. For these reasons, the aim of this review is to report on some characteristics, preparation methods, applications and especially analyze recent research available in the literature concerning the use of vegetable oils with therapeutic characteristics as lipid core in nanoemulsions, specially from Brazilian flora, such as babassu (Orbignya oleifera, aroeira (Schinus molle L., andiroba (Carapa guaianiensis, casca-de-anta (Drimys brasiliensis Miers, sucupira (Pterodon emarginatus Vogel and carqueja doce (Stenachaenium megapotamicum oils.

Uso de óleo de aroeira-vermelha sobre o desempenho e a morfometria intestinal de frangos de corte Brazilian red pepper oil use on the performance and intestinal morphometry of broilers

Directory of Open Access Journals (Sweden)

Maria Aparecida da Silva

2010-10-01

Full Text Available Avaliou-se a utilização do óleo essencial extraído dos frutos de aroeira-vermelha (Schinus terebinthifolius Raddi na dieta de frangos de corte sobre o desempenho e a morfometria intestinal. Utilizaram-se 240 pintos de um dia de idade, machos, da linhagem Cobb, distribuídos em delineamento inteiramente casualizado em grupos de cinco tratamentos e quatro repetições: sem antibiótico e anticoccidiano (controle negativo; com antibiótico e anticoccidiano (controle positivo; com 0,1% de óleo de aroeira; com 0,2% de óleo de aroeira; e com 0,4% de óleo de aroeira. O consumo de ração, peso corporal e conversão alimentar foram influenciados significativamente pelos tratamentos (PThe aim of this research was to evaluate the use of essential oil obtained from the fruits of Brazilian red pepper in the performance and intestinal morphometry of broilers. A total of 240 day-old male chicks Cobb were used, distributed in a randomized design in groups of five treatments and four replicates of 12 birds each: diet without antibiotics and anticoccidial agent (negative control; diet with antibiotic and anticoccidial agent (positive control; diets with 0.1% of Brazilian red pepper oil; diets with 0.2% of Brazilian red pepper oil; diets with 0.4% of Brazilian red pepper oil. Feed intake, body weight and feed conversion were influenced by treatments (P <0.05. It was observed that the broilers fed with the growth promoter antibiotic had a superior performance than the untreated broilers (P<0.05. In the period of 1-21 days, the inclusion of 0.4% Brazilian red pepper oil resulted in improvements in feed conversion and increased weight gain compared to other treatments (P<0.05. From 22-47 days of age it was observed that regardless of the level of Brazilian red pepper oil, their use resulted in a higher weight gain and final weight (P<0.05 and it was recorded a maximum villous height in broilers fed with Brazilian red pepper oil as compared to birds not

The adaptation of the financial structures of national companies in oil producing countries

International Nuclear Information System (INIS)

Helder, P.

1994-01-01

The economic environment of the oil industry in the nineties contains a number of uncertainties concerning demand evolution and the persistence of low prices. National companies cannot expect high margins for financing their development. To avoid an increased debt burden these companies are looking for organizational flexibility. Their strategies imply cost cutting and a modernization of their management criteria. (Author). 19 refs., 6 tabs

Hidden action or hidden strategy: China's control of its national oil companies

Science.gov (United States)

Humphrey, Charles

China's rapid economic growth has been accompanied by parallel growth in energy demand, particularly in demand for oil. Due to political and economic constraints on domestic reform, the CPC has focused on the international dimension through the creation of vertically integrated national oil companies. The foreign investments of these companies have become increasingly controversial due to the high levels of political and financial support afforded them by the CPC. I measure control by employing a model of institutional constraints on state-owned enterprises in conjunction with a managerial variant of Principal Agent theory well suited to political analyses. I conclude that the combination of institutional overlap, the process which led to the formation of the CNOCs as they currently exist and the current overseas activities of the CNOCs all demonstrate that the CPC is in control of the CNOCs.

Oil Companies and Reserves | Compagnies et réserves pétrolières

Directory of Open Access Journals (Sweden)

2012-05-01

Full Text Available Top 20 World Oil CorporationsTop 20 des compagnies pétrolières mondialesSources: OPEC, Annual Statistical Bulletin, 2009; 2009 official reports of oil companies; British Petroleum, BP Statistical Review of Word Energy, 2010.Crude Oil Exports per Area (in Million Tonnes, 2009Exportations de pétrole brut par région (en millions de tonnes, 2009Sources : www.iea.org; www.opec.org; www.gecforum.org; British Petroleum, BP Statistical Review of World Energy, 2010.China’s Crude Oil Imports from Afr...

'Confidence in our own Abilities': Suriname’s State Oil Company as a Pocket of Effectiveness

NARCIS (Netherlands)

W. Hout (Wil)

2014-01-01

markdownabstract__Abstract__ This chapter analyses the conditions under which the Surinamese State Oil Company (Staatsolie) has been consolidated, not only as a firm oriented at the production of oil, but also as a development agent. Staatsolie’s chances to success seemed rather slim at its

Global networks and the two faces of Chinese national oil companies

NARCIS (Netherlands)

de Graaff, N.A.

2014-01-01

This paper investigates the patterns of transnational investments and alliances of Chinese state-owned oil companies since the mid-1990s and the social networks of their directors, taking the case of cnpc and its listed subsidiary PetroChina as the example. Using Social Network Analysis, I will map

Restructuring of oil and gas companies in financial difficulty: the Canadian experience

International Nuclear Information System (INIS)

Hudec, A.J.

1992-01-01

The relationship, under Canadian law, between oil or gas company in financial difficulty and its various creditors is discussed. In particular, commercial bank lenders and non-defaulting co-venturers in the project are considered. The broad topics covered are: the financing of multi-party resource projects; recent developments in conventional oil and gas production loan facilities; alternative and new approaches to energy loan restructuring; minimizing the lender's environmental risk in realizing against an energy project. (UK)

Where in the World are Canadian Oil and Gas Companies? 2013

Directory of Open Access Journals (Sweden)

Niloo Hojjati

2017-06-01

Full Text Available Begun in 2011 as an internal research tool for the development of the Extractive Resource Governance Program, this project seeks to answer the vital question: Where in the world are Canadian oil and gas companies? To answer this question, we extract firm-level information for publicly traded Canadian companies in order to establish the location of their activities around the globe.1 The data collected in the “Where in the World” (hereafter WIW project are presented through a publicly accessible interactive world map, which allows users to explore a specific country or region over time. This map can be accessed online at http://www.policyschool.ca/research-teaching/teaching-training/ extractive-resource-governance/ergp-map/. For further information regarding the WIW project, including a comprehensive overview of the methodology, please refer to http://www.policyschool.ca/wp-content/uploads/2017/06/Where-in-theWorld-Hojjati-Horsfield-Jordison-final.pdf. In addition, summary reports of the annual data collection for the 2011 and 2012 years of analysis are also available at http://www.policyschool.ca/wp-content/uploads/2017/06/2011-Where-in-theWorld-Hojjati-Horsfield-Jordison-final.pdf and http://www.policyschool.ca/wpcontent/uploads/2017/06/2012-Where-in-the-World-Hojjati-final.pdf. This report, as in the earlier reports in this series, provides an account of emerging trends and highlights variations in the level of global activities of Canadian oil and gas companies (hereafter O&G for the 2013 year of study.2 In 2013, a total of 226 Canadian O&G companies engaged in global exploration and service activities in 99 countries worldwide. The Middle East and Europe experienced the greatest increase in the concentration of Canadian exploration and production (E&P companies. Meanwhile, the international presence of Canadian O&G service companies continued to grow in several countries, including Colombia, Mexico, and the United Kingdom. This report

Where in the World are Canadian Oil and Gas Companies? An Introduction to the Project

Directory of Open Access Journals (Sweden)

Niloo Hojjati

2017-06-01

Full Text Available In April 2013, The School of Public Policy formally launched the Extractive Resource Governance Program, a platform to harness Canadian and international research and technical expertise to assist resource-rich jurisdictions in establishing sustainable and mutually beneficial policies for governance of the extractive sector. The program delivers applied policy research, technical assistance and executive training programs to countries with emerging or established extractive resources, working in collaboration with governments, regulatory bodies, academia, civil society, and industry. Begun in 2011 as an internal research tool for the development of the Extractive Resource Governance Program, this project was conceived as a means to identify jurisdictions where Canadian companies had ongoing projects and activities around the world. This paper introduces the methodology used to answer the question: Where in the world are Canadian oil and gas companies? To answer this question, firm-level data from publicly traded Canadian companies were collected and analyzed culminating in the development of an online tool for public use. This paper accompanies an interactive website launched by The School’s Extractive Resource Governance Program and describes the data available online as well as in the annual reports released by The school. The website and annual reports allow interested users to geographically locate jurisdictions around the world where publicly traded Canadian oil and gas companies have activities, over time. The website is available at http://www.policyschool.ca/research-teaching/teachingtraining/extractive-resource-governance/ergp-map/. While Canada is a well-recognized oil and gas jurisdiction within its own borders, the extent of activity that Canadian companies undertake in the international arena is less well known. For instance, while Natural Resources Canada collects and publishes regular data on Canadian mining assets and

No kudos for Kyoto from Imperial Oil : one company kicks at CO2 compliance, while others assume Ottawa's posturing

International Nuclear Information System (INIS)

Hope, P.

1998-01-01

Imperial Oil Ltd.'s criticisms over the high cost of complying with the carbon dioxide reduction targets set at Kyoto were discussed. Imperial Oil's document entitled 'The high cost of Kyoto' cites various independent economic-impact studies which show that Canada's commitment to lower greenhouse gas emissions to six per cent below 1990 levels by 2010 would jeopardize Canada's current prosperity and would drop the gross domestic product 3 per cent below projected growth. Several other major oil companies including Suncor share the opinion that the science on global warming is uncertain and that more research and greater public involvement is needed in the debate over the Kyoto Protocol. The oil companies are also of one mind about the need for third world countries doing their share of emission reduction. They go as far as to say that third world countries such as China and Brazil should be forced to join Canada in restricting emissions. The major oil companies operating in Canada hope that the government will consider oil industry concerns before the Kyoto Protocol is ratified. 1 fig

The lipidome, genotoxicity, hematotoxicity and antioxidant properties of andiroba oil from the Brazilian Amazon

Directory of Open Access Journals (Sweden)

Susana Suely Rodrigues Milhomem-Paixão

2016-01-01

Full Text Available Abstract Andirobeira is an Amazonian tree, the seeds of which produce a commercially valuable oil that is used in folk medicine and in the cosmetic industry. Andiroba oil contains components with anti-inflammatory, cicatrizing and insect-repellant actions. However, virtually nothing is known of the safety of this oil for humans. The aim of this work was therefore to investigate the hematotoxicity, genotoxicity and mutagenicity of andiroba oil using the comet and micronucleus assays, and to assess its antioxidant properties and lipidome as a means of addressing safety issues. For the experiments, andiroba oil was administered by gavage for 14 consecutive days in nulliparous female Swiss mice randomly distributed in four groups: negative control and three doses of oil (500, 1000 and 2000 mg/kg/day. These doses were chosen based on recommendations of the OECD guideline no. 474 (1997. GC/MS was used to investigate the free fatty acid, cholesterol and triterpene content of andiroba oil in a lipidomic analysis. No clinical or behavioral alterations were observed throughout the period of treatment, and exposure to andiroba oil at the doses and conditions used here did not result in hematotoxic, genotoxic or mutagenic effects. Tests in vitro showed that oil sample 3 from southwestern of Brazilian Amazon had a high antioxidant capacity that may protect biological systems from oxidative stress, although this activity remains to be demonstrated in vivo.

First Brazilian patent for dielectric vegetable oil for transformers; Primeira patente brasileira de oleo dieletrico vegetal para transformadores

Energy Technology Data Exchange (ETDEWEB)

Carioca, Jose O.B.; Carvalho, Paulo C.M.; Correa, Raimundo G.C.; Bernardo, Francisco A.B. [Universidade Federal do Ceara (UFC), Fortaleza, CE (Brazil); Coelho Junior, Luiz G. [2 Companhia Energetica do Ceara (COELCE), Fortaleza, CE (Brazil); Abreu, Rosa F.A. [Universidade Estadual do Ceara (UECE), Fortaleza, CE (Brazil)

2008-07-01

The present paper discuss the development of different insulating oils for electric power transformers during the last hundred years and analyze comparatively the potential for the use of vegetable oils as a source for green dielectric oils, due to its high level of biodegradability, nontoxic, material compatibility, good electric strength and insulation properties, long-term oxidative and thermal stability, relatively low pour point and reasonable cost. Based on these premises, the authors developed a new type of insulating fluid based on Brazilian vegetable oils never used before for this purpose. This product is competitive with similar and patented products developed from canola and soya vegetable oils. Recently a new patent related with the process for the production of this fluid was submitted to the World Industrial Property Organization - WIPO. (author)

The Relationship of Leadership Styles and Organizational Culture Case Study of an Oil and Gas Company in Indonesia

OpenAIRE

Darwis, Tommy K; Djajadiningrat, Surna Tjahja

2010-01-01

This study explores relationship between leadership styles and organizational culture in an oil and Gas Company in Indonesia. The respondents are employees of an oil and Gas Company in Indonesia. This study use Multifactor leadership questionnaires to define leadership styles and Denison's Organizational Culture Model to measure Organizational Culture. These questionnaires were used to measure leadership styles of immediate or direct supervisor and organizational culture ...

Features of the marketing strategy of oil and gas companies in exploration drilling

Science.gov (United States)

Sharf, I.; Malanina, V.; Kamynina, L.

2014-08-01

The implementation of national and regional programs for the development of new oil and gas provinces of Eastern Siberia poses the challenge of increasing geological exploration. The current drilling service companies' market structure, as well as the strategic task of search and exploration effectiveness requires qualitatively new approaches for choosing a contractor. The proposed strategy to select a contractor based on comprehensive analysis of certain groups of industrial, financial, infrastructural criteria allows not only to optimize the costs of exploration activities, but also to minimize preventively the risks of a poor geological exploration. The authors' SWOT- analysis of the marketing strategy of "Gazprom neft" for choosing a contractor outlined the problem of imperfection of the Russian legislation in the sphere of activities of service companies in the oil and gas sector.

Strategies for Industry Internationalization Brazilian Pulp and Paper the Perspective of Eclectic Paradigm: A Case Study of Pulp and Paper Company Suzano

Directory of Open Access Journals (Sweden)

Mayra Batista Bitencourt Fagundes

2012-12-01

Full Text Available This article aims to analyze the process of internationalization of the Brazilian pulp and paper. This analysis has an economic bias, basing on the model of internationalization of Eclectic Paradigm of Dunning (1980 in order to identify the internationalization strategies, as well as the key drivers that have enabled reach new markets. We adopted a qualitative methodology, developed through a case study in the company Suzano, a Brazilian company, a global leader in the pulp and paper industry, with a strong presence in the international market. The data were obtained from literature searches, statistics, press releases and official documents of the company. For the treatment of these was used to pattern matching techniques, which enabled contrast them with the theory selected. The results revealed that Suzano differentiated adopted guidelines for the marketing of paper and pulp. The paper is intended primarily for the domestic market, whereas most of the pulp produced is intended to international trade. The company went international for having, according to the Eclectic Paradigm, the advantages of ownership and internalization over their competitors. The strategies used consists in finding markets (market seeking, search efficiency (efficiency seeking and search for strategic assets (strategic asset seeking. We conclude that the theory is Eclectic Paradigm in an appropriate tool for analyzing the internationalization process of the pulp and paper industries.

The new tariff model based on marginal costs developing concept for Brazilian electric sector. A case study for Power and Light Company of Sao Paulo State (Brazil)

International Nuclear Information System (INIS)

Correia, S.P.S.

1991-01-01

A new methodology for power generation cost accounts in Brazilian electric sector is described, with the application of marginal costs theory and its deviation in developing economies. A case report from a Brazilian Power and Light Company is studied, focalizing the seasoning, the planning, the tariff model and the power generation, transmission and distribution. (M.V.M.). 19 refs, 28 figs, 1 tab

Chemical characterization of a variety of cold-pressed gourmet oils available on the Brazilian market.

Science.gov (United States)

Cicero, Nicola; Albergamo, Ambrogina; Salvo, Andrea; Bua, Giuseppe Daniel; Bartolomeo, Giovanni; Mangano, Valentina; Rotondo, Archimede; Di Stefano, Vita; Di Bella, Giuseppa; Dugo, Giacomo

2018-07-01

Different specialty extra virgin oils, produced by cold-pressing fruits/nuts (olive, pequi, palm, avocado, coconut, macadamia and Brazil nut) and seeds (grapeseed and canola), and retailed in the Brazilian region of Minas Gerais, were chemically characterized. Specifically, for each type of oil, the fatty acid composition was elucidated by GC-FID, the contents of selected polyphenols and squalene were determined respectively by UHPLC-MS and UHPLC-PDA, whereas minerals were explored by means of ICP-MS. Olive oil was confirmed to have the highest MUFA content due to a valuable level of oleic acid, while oils from grapeseed, Brazil nut and canola were marked by nutritionally important PUFA levels. The highest SFA content found in coconut oil was mainly due to the high levels of lauric acid, known for its advantageous HDL-raising effects. As for polyphenols, gourmet oils from palm, coconut and canola showed higher levels of phenolic acids (e.g. p-hydroxybenzoic, ferulic, syringic, acids) than olive oil, which was though characterized by peculiar antioxidants, such as tyrosol and hydroxytyrosol. Also, olive oil had the highest amount of squalene, followed by the oil from Brazil nut. Finally, all the investigated oils had very low levels (order of μg/kg) of pro-oxidant elements, such as Cu, Fe and Mn. Overall, these findings may fill the gaps still present in literature on certain compositional aspects of commercially available gourmet oils. Copyright © 2018 Elsevier Ltd. All rights reserved.

New procedures of ergonomics design in a large oil company.

Science.gov (United States)

Alhadeff, Cynthia Mossé; Silva, Rosana Fernandes da; Reis, Márcia Sales dos

2012-01-01

This study presents the challenge involved in the negotiation and construction of a standard process in a major petroleum company that has the purpose of guiding the implementation of ergonomic studies in the development of projects, systemising the implementation of ergonomics design. The standard was created by a multi-disciplinary working group consisting of specialists in ergonomics, who work in a number of different areas of the company. The objective was to guide "how to" undertake ergonomics in all projects, taking into consideration the development of the ergonomic appraisals of work. It also established that all the process, in each project phase, should be accompanied by a specialist in ergonomics. This process as an innovation in the conception of projects in this company, signals a change of culture, and, for this reason requires broad dissemination throughout the several company leadership levels, and training of professionals in projects of ergonomics design. An implementation plan was also prepared and approved by the corporate governance, complementing the proposed challenge. In this way, this major oil company will implement new procedures of ergonomics design to promote health, safety, and wellbeing of the workforce, besides improving the performance and reliability of its systems and processes.

Are we aiming for a liquidation scenario. The oil companies in Norway, a financial survey

International Nuclear Information System (INIS)

Frognes, G.

1994-01-01

The article gives a financial survey of the Norwegian oil companies development. The survey is based on the documentation of statistics for the period from 1985 to 1992. This means that the time series will include one of the record years of the Norwegian oil industry, 1985, and the subsequent 1986 oil price collapse. Topics cover: The profit and loss account; sources of funds; the balance sheet; return on capital. 3 figs., 1 tab

Valuation of oil companies - Implications for corporate behaviour; Verdsetting av internasjonale olje- og gasselskaper - implikasjoner for selskapsatferd

Energy Technology Data Exchange (ETDEWEB)

Osmundsen, Petter

2002-06-01

The report discusses control signals given by the stock market to listed companies and relates this to agency theory. Oil companies are used as a case. The market responds to financial signals from the companies. The market response on various financial indicators represents an implicit incentive scheme for the companies. This is described and the adaptation of the companies is discussed. In addition, the report deals with the significance of a threat of acquisition, and private vs. public ownership.

Quality of environmental disclosure by multi-national oil companies: a corporate governance perspective

OpenAIRE

Babatunde, A.

2005-01-01

Over the past few years, concern about the issue of environmental sustainability\\ud has increased considerably. Closely linked to this concern is the growing disquiet\\ud over the increasing pervasiveness of multi-national companies, especially oil\\ud companies, in shaping global politics and economics. Consequently, increased\\ud awareness about the environment has led to calls for better management of global\\ud resources and for ways in which to make the corporations that benefit the most\\ud ...

Governance and regulation in the Venezuelan petroleum industry: an analysis of the evolution of the relations between the State and the oil companies

International Nuclear Information System (INIS)

Benhassine, A.A.

2008-12-01

Oil is an extremely desired strategic resource which is in the center of the cooperation, the tensions and the conflicts between the producing States and the consumers, between the owners of deposits and oil companies and also between oil companies and consumers. The preoccupation of the political economy is exactly to report the interweaving of the economic and political factors in the formation and in the evolution of the structures of the national petroleum industries. Any change concerning the access to the oil resource and to its rent engenders a redefining of the behaviour, the strategies and the objectives of the main actors. So, by analyzing the process of structuralization of the industry of hydrocarbons in Venezuela, the author attempts to explain the evolution of his mode of organization according to his strategy of regulation. The functional relation which stands out from it becomes identified as a balance of power enters the Venezuelan State, the leaders of the national oil company PDVSA, the international oil companies, the consumers and the international organizations. The thesis reconstitutes the interaction between the maximization of the profits pursued by the oil companies and the forms of appropriation of the rents by the State. The control of the mechanisms of creation and appropriation of the rents allows then the main actors of the oil system to direct the oil Venezuelan policy according to their own interests. (author)

Downstream natural gas in Europe - high hopes dashed for upstream oil and gas companies

International Nuclear Information System (INIS)

Eikeland, P.O.

2007-01-01

Access for independents to retail gas markets was a central concern in European policy reform efforts in the 1990s. Upstream oil and gas companies reacted with strategic intentions of forward integration. By late 2004, forward integration was still weak, however. An important explanation of the gap between announced strategic re-orientation and actual strategy implementation lies in the political failure of EU member states to dismantle market barriers to entry for independents. Variations between companies in downstream strategy implementation are explained by variations in business opportunities and internal company factors. [Author

Downstream natural gas in Europe-High hopes dashed for upstream oil and gas companies

International Nuclear Information System (INIS)

Eikeland, Per Ove

2007-01-01

Access for independents to retail gas markets was a central concern in European policy reform efforts in the 1990s. Upstream oil and gas companies reacted with strategic intentions of forward integration. By late 2004, forward integration was still weak, however. An important explanation of the gap between announced strategic re-orientation and actual strategy implementation lies in the political failure of EU member states to dismantle market barriers to entry for independents. Variations between companies in downstream strategy implementation are explained by variations in business opportunities and internal company factors

Features of the marketing strategy of oil and gas companies in exploration drilling

International Nuclear Information System (INIS)

Sharf, I; Kamynina, L; Malanina, V

2014-01-01

The implementation of national and regional programs for the development of new oil and gas provinces of Eastern Siberia poses the challenge of increasing geological exploration. The current drilling service companies' market structure, as well as the strategic task of search and exploration effectiveness requires qualitatively new approaches for choosing a contractor. The proposed strategy to select a contractor based on comprehensive analysis of certain groups of industrial, financial, infrastructural criteria allows not only to optimize the costs of exploration activities, but also to minimize preventively the risks of a poor geological exploration. The authors' SWOT- analysis of the marketing strategy of ''Gazprom neft'' for choosing a contractor outlined the problem of imperfection of the Russian legislation in the sphere of activities of service companies in the oil and gas sector

The influence of supplier assessment in the termination of oil and gas exploitation and production contracts in Brazil

Directory of Open Access Journals (Sweden)

Cleison Antonio Pinto

2016-03-01

Full Text Available The supplier performance assessment literature shows that the prior identification of contracts considered unsatisfactory may prove crucial to the maintenance of a company, especially in sectors with high operational and environmental risk and significant investments, such as the oil and gas exploitation sector. Although considered important, contract termination has been little studied in the Brazilian oil segment, due to the small number of firms operating in the sector and restricted access to information from these companies. This article aims to reduce this gap by analyzing what service assessment criteria most influence contract terminations in the Brazilian sector of oil and gas exploitation and production. Therefore, the assessments of service contracts terminated between 1/1/2006 and 12/31/2014 by a business unit active in oil and gas exploitation and production located in Brazil were analyzed using logit regressions. In the resulting database, 273 contracts were found that include all specialized services in the activity, totaling 19,613 ratings. The results indicate that the Term and Logistics criteria reveal the greatest influence on contract cancelations of the sector activities. In addition, by segregating the analysis by specialty, it was found that different specialties have different requirements and therefore different contractual arrangements. These results empirically corroborate the theoretical discussions in the literature about the importance of compliance with contractual obligations, especially with regard to the negotiated deadlines.

Benefit-sharing arrangements between oil companies and indigenous people in Russian northern regions

NARCIS (Netherlands)

Tulaeva, Svetlana; Tysyachnyuk, Maria

2017-01-01

This research provides an insight into various modes of benefit-sharing agreements between oil and gas companies and indigenous people in Russia's northern regions, e.g., paternalism, corporate social responsibility, and partnership. The paper examines factors that influence benefit-sharing

An Examination of Strategic Philanthropy and CSR Communication Patterns among the World’s Twenty-One Largest Oil Companies

Directory of Open Access Journals (Sweden)

J. Brad Gatlin

2013-07-01

Full Text Available Fortune Magazine’s 2012 list of 100 largest companies included 21 oil companies. This paper seeks to discern patterns of those 21 companies’ philanthropic efforts and communication thereof. Specifically, the paper will consider issues such as ownership (all companies were either publicly-traded or state-owned, the economic development of the home country, and the citizens’ expectations of corporate citizens. The philanthropic efforts of all 21 companies are discussed in the context of Porter and Kramer’s (2001 framework of the competitive context It is concluded that the oil industry is particularly well-suited to affect factor and, to a lesser extent, demand conditions, through philanthropic efforts. A model for classifying the philanthropic based on ownership and country conditions is proposed, and suggestions for further research are made.

Identification of the causes of risks under the conditions of innovative development of oil and gas companies

Directory of Open Access Journals (Sweden)

Khvostina I. M.

2015-05-01

Full Text Available The market environment, in which oil and gas companies operate, is characterized by elements of uncertainty and is accompanied by risks of entrepreneurship and production. Insufficient attention to the issues of risk management in the conditions of innovative development of enterprises leads to an inadequate response of oil and gas companies on the risks and threats that arise in the current economic environment, and, as a consequence, the adoption of unjustified managerial decisions. All this contributes to the significant threats in the activity of enterprises, limited mobility and loss of potential opportunities. The article defines the modern state oil and gas complex of Ukraine. The main problems of enterprises operating in this industry are considered. The causes of risks influencing the innovative activity of enterprises of oil and gas complex, the necessity of building an integrated risk management system are investigated.

Independents in European Gas Markets after liberalisation - downstream integration of upstream oil and gas companies

International Nuclear Information System (INIS)

Eikeland, Per Ove

2005-01-01

A central objective of gas market liberalisation in Europe in the 1990s was to increase competition by opening end-use markets for independent suppliers. Upstream oil and gas companies in Europe reacted to this opportunity by announcing strategies to integrate forward in European gas markets. By late 2004, however, upstream companies still recorded generally weak downstream strategy implementation in Europe. The article concludes that this general implementation gap should be explained by political failure in EU member states to abolish gas market barriers to entry for independents. Variation between companies in degree of implementation should be explained by variation in conditions in the companies' home markets / wider business spheres and internal company factors. (Author)

Enterprise Risk Management in the Oil and Gas Industry: An Analysis of Selected Fortune 500 Oil and Gas Companies' Reaction in 2009 and 2010

Science.gov (United States)

Rogers, Violet C.; Ethridge, Jack R.

2016-01-01

In 2009, four of the top ten Fortune 500 companies were classified within the oil and gas industry. Organizations of this size typically have an advanced Enterprise Risk Management system in place to mitigate risk and to achieve their corporations' objectives. The companies and the article utilize the Enterprise Risk Management Integrated…

Legal Treatment Given the Oil leak in the Frade field . Case Study: (i Liability and signing of Conduct Adjustment Term

Directory of Open Access Journals (Sweden)

Alexandre Ricardo Machado

2016-06-01

Full Text Available This paper is to discuss how were treated  the legal and environmental consequen- ces caused by the large oil spill occurred in the FRADE FIELD, State of Rio de Janeiro, Brazil by the Company CHEVRON Brazil, in the face of brazilian authorities. On the text it will be discussed important decisions taken related to objective liability from the Company due to damages and the theories that have been taken into consideration for the extinction of two public civil actions filed by the Federal Public Ministry by an agre- ement called “Conduct Adjustment Term”. This study will make a chronological analysis of the facts that occurred on the two oil spills and how the company Chevron Brazil handled the incident, especially after be signed the undertaking between this Company, the Federal Public Ministry (MPF, National Agency Petroleum (ANP and the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA solving the two public civil actions and proposals related to incidents in the Frade field in 2011 and 2012. The process also triggered imposition of financial penalties, already collected. On this comments shall be made considerations related to the incident and its “solution” for this legal formula and, given the severity of the accident, the indicated measures show hit or not the sectors involved.

Management according to financial indicators. Short-termism of the oil companies; Styring etter finansielle indikatorer - er oljeselskapene kortsiktige?

Energy Technology Data Exchange (ETDEWEB)

Osmundsen, Petter; Soerenes, Terje; Lindbaeck, Morten E.; Wigestrand, Arnstein O.

2002-07-01

Taking the oil companies as an example, the authors describe some of the valuation methods used by analysts and investment banks. The financial indicators used by the market form an incentive structure for the management of the companies. The article discusses how this affects the behaviour of the companies. It also discusses implications for resource management.

The Corporate Governance of Privately Controlled Brazilian Firms

Directory of Open Access Journals (Sweden)

Érica C. R. Gorga

2009-09-01

Full Text Available We provide an overview of the corporate governance practices of Brazilian public companies, based primarily on an extensive 2005 survey of 116 companies. We focus on the 88 responding Brazilian private firms which are not majority owned by the state or a foreign company. We identify areas where Brazilian corporate governance is relatively strong and weak. Board independence is an area of weakness: The boards of most Brazilian private firms are comprised entirely or almost entirely of insiders or representatives of the controlling family or group. Many firms have zero independent directors. At the same time, minority shareholders have legal rights to representation on the boards of many firms, and this representation is reasonably common. Financial disclosure lags behind world standards. Only a minority of firms provide a statement of cash flows or consolidated financial statements. However, many provide English language financial statements, and an English language version of their website. Audit committees are uncommon, but many Brazilian firms use an alternate approach to ensuring financial statement accuracy – establishing a fiscal board. A minority of firms provide takeout rights to minority shareholders on a sale of control. Controlling shareholders often use shareholders agreements to ensure control.

Financial performance and remuneration of executive directors of brazilian

Directory of Open Access Journals (Sweden)

Larissa Degenhart

2017-09-01

Full Text Available This study aimed to examine whether there is a relationship between financial performance and the remuneration of executive directors of Brazilian companies. Thus, there was a descriptive, documentary and quantitative research. The review period was the years 2011 to 2015. The study population consisted of Brazilian companies listed on the BM&FBovespa and the sample consisted of companies that presented all the variables used in each year surveyed, totaling 219 companies. For the data analysis was conducted to Spearman correlation analysis and linear regression, and was performed using the SPSS statistical software. From the study results it was found that the variables: Total Asset Profitability (ROA and company size had a significant and positive relationship with the fixed remuneration, variable and total executive directors. These results showed for the analyzed scenario, the compensation of executive officers is higher when the ROA is high and also in relation to the company size, large companies pay their executives more than smaller companies. Finally, it can be concluded that there is a relationship between financial performance and Fixed Compensation, and Variable Total executive directors of Brazilian companies listed on the BM&FBovespa. In addition, this research contributes to the understanding of the amounts paid to executive officers, demonstrating that the performance of companies reflected in the remuneration of the executive directors, so that they act in the company in order to raise the economic and financial results.

The Influence of Environmental Disclosure on Capital Structure of Brazilian Companies listed on the BM&FBovespa

Directory of Open Access Journals (Sweden)

Sheila Mendes Fernandes

2012-12-01

Full Text Available The objective of this study to verify the relationship between environmental disclosure and the capital structure of companies classified according to Law 10165 which provides for the National Environmental Policy for the period 2006 to 2010. To meet the proposed objectives were used as proxies for capital structure debt to verify the cost of debt and to verify the CAPM cost of equity. To measure the level of environmental disclosure content analysis was carried out in the notes, the management report and the report of the environmental information contained in the report of the Annual Information (IAN. We analyzed 89 companies with 95,020 sentences, and 5279 relating to environmental events, such 4819 relating to environmental information regarding positive and 460 negative environmental information. To investigate the relationship between these variables was used in the analysis panel with random effects adjusted by robust tool. The findings of this study demonstrate that environmental disclosure does not affect the cost of debt, ie, in the Brazilian market, the environmental information whether positive or negative does not drive the market to influence positively / negatively the cost of debt. However, the results showed that the positive environmental disclosure adversely affects the cost of equity demonstrating that "good environmental image of the company" leverage the company's credibility this crucial factor in reducing the risk of the company since the engagement with sustainability and generate savings for the effective and efficient use of resources eliminates and / or reduces the incidence of government regulations.

Energy prices and the post oil/energy crisis Brazilian inflation: an input-output study

Energy Technology Data Exchange (ETDEWEB)

Lara-Resende, M.deM.

1982-01-01

This study is an attempt to understand the implications of the OPEC-induced severalfold increase in the international price of oil for average and sectoral domestic prices in Brazil, a large oil-importing open developing economy. Rather than using a Keynesian model (focusing on the universal characteristics of an economy), the study makes use of an open-price input-output model (capturing the structural characteristics of the Brazilian economy). The first three chapters, descriptive in nature, place in perspective the following three, which detail the model and the empirical results. The main conclusion is that, despite the significant increase observed in the post-crisis period, the relative percentage contribution of primary energy to wholesale inflation in Brazil is still relatively minor. A conservative estimate suggests that, in the years of substantial acceleration (1974 and 1979), approximately 15% of the wholesale inflation was due to energy (basically crude oil and oil derivatives). Though such low estimates are partly due to the limitations and assumptions underlying input-output analysis, it seems that the acceleration of inflation is related to more than cost increases originating in energy prices. It also seems to be related to agricultural and labor prices, as well as to the government's decision to abruptly and inopportunely raise several important product prices.

Shell's Big Dirty Secret. Insight into the world's most carbon intensive oil company and the legacy of CEO Jeroen van der Veer

International Nuclear Information System (INIS)

Stockman, L.; Rowell, A.; Kretzmann, S.

2009-06-01

Royal Dutch Shell plc is the largest oil operator in Nigeria, and holds more acreage in Canada's oil sands than any other corporation. Because of these facts, and several others, Shell is also the most carbon intensive oil company in the world. In short, for every barrel of oil it produces in the future, Shell will contribute more to global warming than any other oil company. This report documents Shell's record investment in dirty forms of energy, and it illuminates the corporate strategy and lobbying for regulations that indicate it intends to profit from that position for a long time to come (authors' abstract)

State companies dominate OGJ100 list of non-U.S. oil producers

International Nuclear Information System (INIS)

Anon.

1993-01-01

State owned oil and gas companies dominate the OGJ100 list of non-U.S. producers. Because many of them report only operating information, companies on the worldwide list cannot be ranked by assets or revenues. The list, therefore, is organized regionally, based on location of companies' corporate headquarters. The leading nongovernment company in both reserves and production is Royal Dutch/Shell. It ranks sixth in the world in liquids production and 11th in liquids reserves, as it has for the past 2 years. British Petroleum is the next largest nongovernment company. BP ranks 11th in liquids production and 16th in liquids reserves. Elf Aquitaine, 55.8% government-controlled, ranked 17th in liquids production. AGIP was 20th in liquids production. Kuwait Petroleum returned to the list of top 20 producers, ranking 12th, as it restored production shut in by facilities damage sustained during the Persian Gulf crisis. New to the top 20 reserves list is Petroleo Brasileiro, which moved to 20th position. The top 20 companies in the OGJ100 held reserves estimated at 869.3 billion bbl in 1992 vs. 869.5 billion bbl in 1991 and 854.2 billion bbl in 1990

The unitization process in the oil and gas Brazilian sector: regulations analysis; A regulacao no processo de unitizacao na exploracao de petroleo e gas natural no Brasil

Energy Technology Data Exchange (ETDEWEB)

Vazquez, Felipe A. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil); Silva, Moises E. da [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil); Bone, Rosemarie B. [Universidade Federal do Rio de Janeiro (DEI/UFRJ), RJ (Brazil). Dept. de Engenharia Industrial

2008-07-01

In Brazil, the withdraw of 41 blocks of the 9th Round of Auctions by ANP rose questions about the possible unitization of oil fields, particularly on the pre-salt areas and the likelihood of future litigation from licensees against the Brazilian Government on the issue. Based on the international experience from Nigeria and East Timor/Australia, we propose improvements to the Brazilian law on the issue (Law 9478/97, article 27). We conclude that a clear and specific regulation on the unitization issue should be passed, so to protect investors and the non-renewable resources at stake (oil and gas). (author)

Can Latin American Oil Companies Free Themselves from the Legacy of Nationalization? (Can Latin American Oil and Gas Companies Break Free of Their Nationalized Past?) - CERI Studies No. 183

International Nuclear Information System (INIS)

Rousseau, Isabelle

2012-01-01

Latin America's national oil companies, created at various times during the twentieth century, have each evolved in a different way. The two main companies - Petroleos de Mexico (Pemex) and Petroleos de Venezuela (PDVSA) - provide excellent illustrations of the rich diversity of organizational and industrial development. Many factors - such as the importance of earth quakes - explain the diversity. Nevertheless, the role of governments during the period of nationalizations is key. It was then that the relationships between the owners of natural resources, public operators, regulators, the finance ministries, and international operators were defined. This process shaped the companies' institutional structures (path dependency) and set the parameters for future entrepreneurial dynamism. The path by which each of these enterprises developed continues to affect their culture as evidenced by the recent reforms which attempted to restructure Pemex and PDVSA. (author)

Oil Companies Climb Global List

Institute of Scientific and Technical Information of China (English)

JESSY ZHANG

2006-01-01

@@ Backed by the huge market size,China's energy companies have been ranked in the group of the world's largest industry players. On September 6th,eight companies from the Chinese mainland and six companies from Hong Kong SAR were included in this year's Platts Top 250 Energy Companies List.

Turbidity and oil removal from oilfield produced water, middle oil company by electrocoagulation technique

Directory of Open Access Journals (Sweden)

Mohammed Thamer

2018-01-01

Full Text Available Huge quantity of produced water is salty water trapped in the oil wells rock and brought up along with oil or gas during production. It usually contains hydrocarbons as oil and suspended solids or turbidity. Therefore the aim of this study is to treat produced water before being discharge to surface water or re injected in oil wells. In this paper experimental results were investigated on treating produced water (which is obtained from Middle Oil Company-Iraq, through electrocoagulation (EC. The performance of EC was investigated for reduction of turbidity and oil content up to allowable limit. Effect of different parameters were studied; (pH, current density, distance between two electrodes, and electrolysis time. The experimental runs carried out by an electrocoagulation unit was assembled and installed in the lab and the reactor was made of a material Perspex, with a capacity of approximately 2.5 liters and dimensions were 20 cm in length, 14 cm in width and 16 cm height. The electrodes employed were made of commercial materials. The anode was a perforated aluminum rectangular plate with a thickness of 1.72 mm, a height of 60 mm and length of 140 mm and the cathode was a mesh iron. The current was used in the unit with different densities to test the turbidity removing efficiency (0.0025, 0.00633, 0.01266 and 0.0253 A/cm2.The experiment showed that the best turbidity removing was (10, 9.7, 9.2, 18 NTU respectively. The distance between the electrodes of the unit was 3cm. The present turbidity removing was 92.33%. A slight improvement of turbidity removing was shown when the distance between the electrodes was changed from 0.5 to 3 cm with fixation of current density. The best turbidity removing was 93.5% , (7.79 NTU when the distance between the electrodes were 1 cm. The experimental results found that concentration of oil had decreased to (10.7, 11.2, 11.7, 12.3 mg/l when different current densities (0.00253, 0.00633, 0.01266, 0.0253 A/cm2

Canadian oil companies, engineering and geomatics professionals and CSR overseas

Energy Technology Data Exchange (ETDEWEB)

Calderbank, B.

2002-07-01

This research project focused on the human rights issues associated with oil and gas development in Alberta. Of particular interest was the topic of corporate social responsibility (CSR). The author examined efforts deployed in Alberta to address this issue in oil and gas companies that have operations abroad. A brief review of the interest devoted to CSR in Canada over the years was provided. The United Nations (UN) Universal Declaration of Human Rights was introduced, before discussing the International Labour Organization's (ILO) Declaration on Fundamental Principles on Rights at Work. The author also touched on the Caux Round Table, representing senior business leaders from industrialized and developing nations. The Canadian efforts in the field of CSR for overseas operations were reviewed in the next section. Canadian oil and gas trade associations and CSR was dealt with, followed by a section on verification of CSR. The next section was devoted to Canadian engineering and geomatic professional associations and CSR. The author concluded by indicating that having a set of principles to be applied in real situations also require individuals that possess a strong ethical and moral basis of their own. 88 refs., 4 tabs.

Environmental management and operational performance in automotive companies in Brazil

DEFF Research Database (Denmark)

Jabbour, C.J.C.; De Sousa Jabbour, A.B.L.; Govindan, Kannan

2013-01-01

The main objective of this study is to verify the influence of Environmental Management (EM) on Operational Performance (OP) in Brazilian automotive companies, analyzing whether Lean Manufacturing (LM) and Human Resources (HR) interfere in the greening of these companies. Therefore, a conceptual...... framework listing these concepts was proposed, and three research hypotheses were presented. A questionnaire was elaborated based on this theoretical background and sent to respondents occupying the highest positions in the production/operations areas of Brazilian automotive companies. The data, collected...

Towards An Intelligent Model-Based Decision Support System For An Integrated Oil Company (EGPC)

International Nuclear Information System (INIS)

Khorshid, M.; Hassan, H.; Abdel Latife, M.A.

2004-01-01

Decision Support System (DSS) is an interactive, flexible and adaptable computer-based support system specially developed for supporting the solution of unstructured management problems [31] DSS has become widespread for oil industry domain in recent years. The computer-based DSS, which were developed and implemented in oil industry, are used to address the complex short-term planning and operational issues associated with downstream industry. Most of these applications concentrate on the data-centered tools, while the model-centered applications of DSS are still very limited up till now [20]. This study develops an Intelligent Model-Based DSS for an integrated oil company, to help policy makers and petroleum planner in improving the effectiveness of the strategic planning in oil sector. This domain basically imposes semi-structured or unstructured decisions and involves a very complex modeling process

Essential Oils from Leaves of Medicinal Plants of Brazilian Flora: Chemical Composition and Activity against Candida Species

Directory of Open Access Journals (Sweden)

Maria da Conceição Mendes Ferreira da Costa

2017-05-01

Full Text Available Background: The biotechnological potential of medicinal plants from Brazilian Caatinga and the Atlantic Forest has not been extensively studied. Thus, screening programs are important in prospecting for compounds for developing new drugs. The purpose of this study was to determine the chemical composition and to evaluate the anti-Candida activity of essential oils from leaves of Hymenaea courbaril var. courbaril, Myroxylon peruiferum, and Vismia guianensis. Methods: The oils were extracted through hydrodistillation and their chemical compositions were analyzed by gas chromatography coupled with mass spectrometry. Antifungal activity against C. albicans, C. tropicalis, C. parapsilosis, C. glabrata, and C. krusei was evaluated by determining the minimal inhibitory (MIC and fungicidal (MFC concentrations. Results: The major compounds of the oils were caryophyllene oxide and trans-caryophyllene for H. courbaril; spathulenol, α-pinene, and caryophyllene oxide for M. peruiferum; and caryophyllene oxide and humulene epoxide II for V. guianensis oil. The oils showed antifungal activity against all the strains tested, and the MIC values ranged between 0.625 and 1.25 μL/mL and MFC from 0.625 to 2.5 μL/mL. Conclusion: The essential oils from the species studied have the potential to be evaluated as clinical applications in the treatment of candidiasis.

Diagnóstico da fauna silvestre em empresas florestais brasileiras Diagnosis of wild fauna in brazilian forest companies

Directory of Open Access Journals (Sweden)

Giovanna Debortoli Medeiros

2009-02-01

Full Text Available Com o objetivo de conhecer a situação atual da fauna silvestre em empresas florestais brasileiras, foram pesquisadas 42 razões sociais, entre Associadas e Co-Participantes da Sociedade de Investigações Florestais (SIF, as quais possuem plantios florestais próprios. As informações foram obtidas com base em questionário enviado às referidas empresas, via correio eletrônico, sendo as respostas obtidas também por esse mecanismo. Entre os vários resultados, destaca-se o fato de que 90,9% das empresas associadas já realizaram levantamentos qualitativos da fauna silvestre. No entanto, de modo geral há notória carência de infra-estrutura nas empresas pesquisadas para atender a trabalhos específicos de manejo e conservação da fauna silvestre.Forty-two companies, associates and co-participants of the Forest Investigation Society (SIF and owners of private forest plantations, were assessed to determine the current situation of wild fauna in Brazilian forest companies. Information was obtained through a questionnaire sent to and received from the companies by e-mail. One of the several results obtained was that 90.9% of the associate companies had already carried out qualitative surveys on wild fauna stands.. On the other hand, in general, there is a total lack of infrastructure in the surveyed companies, to specifically assist in the management and conservation of wild fauna.

The oil and oil services industry international context 2008

International Nuclear Information System (INIS)

Serbutoviez, S.; Silva, C.

2008-11-01

Oil companies rarely do their own major work within the framework of their investments or in the operation of their facilities. They most often act as project coordinators, thereby opening up a vast market for equipment, services and engineering, involving many companies of widely-varying sizes, which constitute the oil services industry. This document provides a panorama of the international oil context in three distinct parts, for 2007, for the first three quarters of 2008, and aspects of trends for 2009. - The first part is devoted to a rapid description of the oil context and the economic environment in which it is evolving. - The second part examines the evolution of world investment in exploration-production (E and P) activities, distinguishing the investments made by oil and oil product/service companies throughout the E and P chain from the more targeted ones of three specific sectors: seismic, drilling and the construction of offshore production equipment. These markets are observed exclusively for oil product/service companies. - The last part is devoted to investments in the refining sector, focusing on the changes in the fundamentals, particularly the equilibrium between refining capacities and medium- term oil demand. This latter analysis involves both oil and oil product/service companies. (authors)

Cost-benefit analysis of a socio-technical intervention in a Brazilian footwear company.

Science.gov (United States)

Guimarães, L B de M; Ribeiro, J L D; Renner, J S

2012-09-01

This article presents a costs-benefits analysis of a macroergonomic intervention in a Brazilian footwear company. Comparing results of a pilot line (composed by 100 multiskilled workers organized in teams) with eight traditional lines (still working in a one human being/one task model) the intervention showed to be worth pursuing since achieved gains were higher than intervention costs: there was a reduction in human resource costs (80% reduction in industrial accidents, 100% reduction in work-related musculoskeletal disorders or WMSD, medical consultations and turnover, and a 45.65% reduction in absenteeism) and production improvement (productivity increased in 3% and production waste decrease to less than 1%). The net intervention value of the intervention was around U$ 430,000 with a benefit-to-cost ratio of 7.2. Moreover, employees who worked in the pilot line understood that their quality of work life improved, compensating the anxiety brought up by the radical changes implemented. Copyright © 2012 Elsevier Ltd and The Ergonomics Society. All rights reserved.

Professional versus family management in Brazilian fashion retail companies: exploring value-investors’ perceptions

Directory of Open Access Journals (Sweden)

Clarice Secches Kogut

Full Text Available Abstract Regarding the debate on which sort of management - professional or family administration - would more effectively run businesses, this paper discusses the advantages and shortcomings of family and professional management from a theoretical and a practitioner’s viewpoint. The study aims at contributing to our understanding about the superiority that either type of management might have delivering long-term performance and value creation to shareholders. Six investors from top value investment funds were interviewed regarding the management of seven fashion retail Brazilian companies. Data analysis revealed that investors do not prefer either type of management - family or professional - when they make investments. Instead, they do look for specific characteristics and patterns of behavior in a CEO, which resemble Selznick’s (1957 definition of an institutional leader. Finally, the paper suggests a new path of research for scholars (relating old institutionalism and professionalism and practical guidelines for each type of management (family or professional, offering, therefore, an academic as well as a practical contribution.

Brazilian franchisor: Entry and operation of internationalized franchise

Directory of Open Access Journals (Sweden)

Helder de Souza Aguiar

2017-11-01

Full Text Available This study aimed to compare the entry and operations strategies of franchisors of developed countries into foreign countries with Brazilian counterparts. Were there significant differences? An exploratory study was conducted with 16 international franchisors operating in Brazil and 31 Brazilian franchisors operating abroad. The results show that international franchisors operating abroad prefer to use a subsidiary in the destination country. At the same time, this strategy is little used by Brazilian franchisors, which prefer the strategy of direct franchises. For data collection, 47 directors or managers of the international expansion of Brazilian companies and the expansion directors of the international companies which operates in Brazil were interviewed. Although more expensive, the subsidiary in the target country offers greater control over the expansion of business reducing the problems caused by the distance of the country of origin. For the management of franchisors, this paper points out that the subsidiary is a natural evolution of entry and operation mode when it is desired or it is needed to control the expansion of networks in other countries. Thus, managers of franchisors in emerging countries should carefully examine the subsidiary option in the target country when their company considers accelerating international growth.

Corporate social policy - problems of institutionalization and experience of Russian oil and gas companies

Science.gov (United States)

Nekhoda, E.; Kolbysheva, Yu; Makoveeva, V.

2015-11-01

The article examines a range of problems related to the process of institutionalization in the corporate social policy, characterizing the social responsibility of business and representing a part of the general strategy of corporate social responsibility. The experience of the social policy implementation in oil and gas companies is analyzed.

Profitability and taxation in the UKCS oil and gas industry: analysing the distribution of rewards between company and country

International Nuclear Information System (INIS)

Rutledge, Ian; Wright, Philip

1998-01-01

Against the background of record levels of UK hydrocarbon production and a government review of the UKCS tax regime, this paper provides evidence that the government's share of UKCS profits is very low by historical and international standards and demonstrates that the current tax regime is extremely weak. The justification for the latter is the challenged by assessing the relative profitability of UKCS companies, using data from UK national accounts and from Form 10-K and Form 20-F company reports and analysing both accounting profits and forecast discounted cash flow. This shows that companies operating on the UKCS enjoy substantially higher profitability relative to both other UK companies and other oil and gas provinces elsewhere in the world. Further evidence of the weakness of the UK regime is provided by a comparison with the Norwegian oil and gas tax regime. The paper therefore makes a strong case for the reform of the UKCS tax regime. (Author)

Mobil positioning itself to become Canada's premier oil and gas company

International Nuclear Information System (INIS)

Thomas, A.

1994-01-01

To achieve its goal of becoming Canada's premier oil and gas company by the year 2000, Mobil Oil Canada is empowering its employees and applying appropriate technology to unlock resources and create value. Mobil produces 4.1 million m 3 of oil and natural gas liquids, 5.6 million m 3 /y of natural gas and 438,000 tonnes/y of sulfur. It also operates over 3,000 wells in western Canada and eleven gas processing plants, manages 1,700 km of pipeline, and has 33% interest in the Hibernia project on the Grand Banks. Oil lifting costs have decreased over the past three years from $3.40/bbl to $2.80/bbl and development costs are under $2/bbl. Innovative technology used to achieve high production and low costs include the use of three dimensional seismic surveys and horizontal drilling. Other techniques used at particular sites include installation of downhole injection regulators to control problems of segregation and metering between different water injection zones at the Carson Creek field, use of artificial lifts in gas wells, and a dual gas lift at the Rainbow Lake oil field. At the Lone Pine gas plant, the first Superclaus-99 sulfur recovery process was installed, reducing sulfur emissions by 60% and increasing recovery efficiency from 95% to 98%. Mobil has operated in Canada since 1940 and has made significant discoveries, including Canada's largest producing oil field, the Pembina. In 1971, Mobil discovered gas of commercial significance off the east coast and helped discover the Hibernia and Venture fields. The Hibernia project is scheduled to come on stream in 1997 and Mobil expects the economics of the project to be favorable, with a $12-13/bbl oil price needed to break even. 7 figs

Oil and gas markets, companies, and technology in the 1990`s and beyond

Energy Technology Data Exchange (ETDEWEB)

Kennedy, J.L.

1995-08-01

During the late 1990`s and beyond, oil prices will be stagnant while costs increase, competition for markets and capital will be fierce, funds available for exploration and development will be limited, and environmental extremists will keep prospective areas off-limits. Higher taxes will limit growth in oil and gas demand and reapportion energy market shares. And a campaign to brand oil use as an ``addiction`` that must be cured will gather steam. But opportunities abound, too, even in the US High-quality properties are available throughout the US, independents can find and develop reserves cheaper than the majors, and new tools are available to reduce risks both in the field and in the market. Gas prices are firming and natural gas is often labeled the ``fuel of the future.`` To succeed in the petroleum industry of the 1990`s, all companies must accept change, be creative, and take initiative. To prosper, oil and gas producers and refiners and those who supply and serve the industry must face the new realities of the market. They cannot mark time until the return of 4,000 active rigs and $40/bbl oil. those days are never coming back. Never.

QUALITY CHARACTERISTIS OF FRUITS AND OILS OF PALMS NATIVE TO THE BRAZILIAN AMAZON

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MARY DE FÁTIMA GUEDES DOS SANTOS

Full Text Available ABSTRACT Native palm trees are highly important plant resources for the Amazon region; however, despite the great diversity and utilities, few species have been studied, requiring more comprehensive studies on quality and composition for species not yet explored. The aim of this study was to evaluate the quality of fruits and oils of palm trees from the Brazilian Amazon and to identify potential uses. Fruits from five palm trees (bacaba, buriti, inajá, pupunha, and tucumã were evaluated for total mass, length, diameter, and yield, soluble solids (SS, titratable acidity (TA, pH, SS/TA ratio, total soluble sugar (TSS, reducing sugar (RS, total pectin (TP soluble pectin (SP, and starch. The oils from the edible portion of fruits were evaluated for acidity and peroxide indexes, oxidative stability, unsaponifiable matter, polar compounds and fatty acids composition analyzed by gas chromatography. Pupunha showed the highest yield of the edible portion (76.38% and starch content (24.89%. The mesocarp of palm fruits showed SS values between 7.5 and 14.3 ºBrix, low acidity (0.30%, pH (4.2 to 6.3, higher content of total sugars in tucuma and reducing sugars in bacaba and 0.81% for total pectin. The content of lipids was high, ranging from 17.0% for pupunha to 38.3% for bacaba in dry basis. In buriti, tucuma, and bacaba oils, high content of unsaturated fatty acids was found, with more than 83, 75, and 61%, respectively. Therefore, not only fruits but also oils showed excellent quality and great nutritional potential.

Calculation of economic viability and environmental costs of biomass from dende oil for small communities of Brazilian northeast region

International Nuclear Information System (INIS)

Stecher, Luiza C.; Pacheco, Rafael R.; Sabundjian, Gaiane

2015-01-01

The current environmental problems caused by human activity has been gaining attention in society, i.e., as it has influenced in the growth and development of the global economic. The availability of energy resources is central point to economic development and the generation of energy is responsible for a significant portion of the emissions causing the greenhouse effect nowadays. The Brazil, a developing country, still has a large number of people without access to electricity, which affects the quality of life of individuals. In this context, it should think in the sustainable economic development, so the alternative energy sources emerge as an option for power generation. Can highlight biomass as a source in the Brazilian scenario by its wide availability and variety. Therefore, the objective of this work is to estimate the economic viability of the decentralized generation of electricity based on the use of biomass from dende oil in small communities in the Brazilian Northeast considering the environmental costs involved for the source in question. The methodology is based on economic concepts and economic evaluation of environmental resources. The biomass from dende oil was adopted in this work by its characteristics and availability in the studied region. The results show that the generation of energy by biomass from dende oil, it will contribute significantly to the sustainable development of the region, already that it will bring gains environmental, social and financial to society. (author)

Calculation of economic viability and environmental costs of biomass from dende oil for small communities of Brazilian northeast region

Energy Technology Data Exchange (ETDEWEB)

Stecher, Luiza C.; Pacheco, Rafael R.; Sabundjian, Gaiane, E-mail: luizastecher@usp.br, E-mail: rafaelrade@gmail.com, E-mail: gdjian@ipen.br [Instituto de Pesquisas Energeticas e Nucleares (IPEN/CNEN-SP), Sao Paulo, SP (Brazil)

2015-07-01

The current environmental problems caused by human activity has been gaining attention in society, i.e., as it has influenced in the growth and development of the global economic. The availability of energy resources is central point to economic development and the generation of energy is responsible for a significant portion of the emissions causing the greenhouse effect nowadays. The Brazil, a developing country, still has a large number of people without access to electricity, which affects the quality of life of individuals. In this context, it should think in the sustainable economic development, so the alternative energy sources emerge as an option for power generation. Can highlight biomass as a source in the Brazilian scenario by its wide availability and variety. Therefore, the objective of this work is to estimate the economic viability of the decentralized generation of electricity based on the use of biomass from dende oil in small communities in the Brazilian Northeast considering the environmental costs involved for the source in question. The methodology is based on economic concepts and economic evaluation of environmental resources. The biomass from dende oil was adopted in this work by its characteristics and availability in the studied region. The results show that the generation of energy by biomass from dende oil, it will contribute significantly to the sustainable development of the region, already that it will bring gains environmental, social and financial to society. (author)

Internationalization Strategy and Financial Performance in Brazilian Firms

Directory of Open Access Journals (Sweden)

Pedro Paulo Mendes Silva

2011-12-01

Full Text Available The internationalization of the firm and the appearance of multinational companies are not recent events. The first initiatives to realize businesses overseas and increase profits in this way date from the beginning from the Modern Age. For Brazilian companies in particular, this phenomenon has been gaining attention since the 1990s, with the commercial opening of the country. The objective of this study was to analyze the strategy of internationalization in Brazilian companies, in particular the case of publically traded companies with foreign direct investments greater than $10 million, and the relation with the financial performance of these companies. Through a quantitative study using the rate of variation of internationalization and financial performance, researchers developed an analysis of the relation between the process of internationalization and financial performance indicators in nine companies that make up the non-probabilistic sample of convenience. The results concluded that there is a weak positive correlation with financial indicators of growth; profitability metrics show a negative relationship in some of the independent variables.

Modeling renewable energy company risk

International Nuclear Information System (INIS)

Sadorsky, Perry

2012-01-01

The renewable energy sector is one of the fastest growing components of the energy industry and along with this increased demand for renewable energy there has been an increase in investing and financing activities. The tradeoff between risk and return in the renewable energy sector is, however, precarious. Renewable energy companies are often among the riskiest types of companies to invest in and for this reason it is necessary to have a good understanding of the risk factors. This paper uses a variable beta model to investigate the determinants of renewable energy company risk. The empirical results show that company sales growth has a negative impact on company risk while oil price increases have a positive impact on company risk. When oil price returns are positive and moderate, increases in sales growth can offset the impact of oil price returns and this leads to lower systematic risk.

Analysis Brazilian preference shares: financial liabilities or equity instruments?

Directory of Open Access Journals (Sweden)

Diana Lucia de Almeida

2016-05-01

Full Text Available The Brazilian preference shares, in general, except when they present specific features, such as mandatory redemption and cumulative dividends, meet the accounting definition of equity instruments. However, the scientific literature believes that those shares that do not have discretion to avoid the delivery of cash must be classified as financial liabilities. In a context in which remain differences of understanding of their proper accounting treatment, the following question arises: preferred shares of Brazilian companies are being recognized in the financial statements in accordance with the theoretical and normative precepts? Thus, the aim of this study is to verify if the preference shares of Brazilian companies have been recognized in the financial statements for according to the scientific literature and accounting standards. Through content analysis, we analyzed the information of 157 companies listed on BM&FBOVESPA. The results show that 155 companies classify its preference shares as equity instruments and two as financial liabilities. These two companies, as well as 149 of those which qualify as equity instruments, are treating them properly in its accounting. The other six companies should present its preference shares as liabilities, given the absence of discretion to avoid cash delivery, feature present in financial liabilities, unlike equity instruments. It is noticed that, unlike what happens, for instance, in the US market, it is not possible to classify all Brazilian preference shares as a financial liability, since, in Brazil , they are used in different legal format of those widely found in that market. Moreover, almost all of the analyzed shares have essential features for classification as equity instruments. Hence, the importance of analysis of the economic essence of each instrument, thus, enabling the appropriate accounting treatment in the financial statements.

[The law of quotas for people with disabilities in Brazilian companies: the impact and possible alternatives].

Science.gov (United States)

Zanitelli, Leandro Martins

2013-07-01

This paper consists of a theoretical analysis of the impact of the Brazilian law establishing quotas for people with disabilities in companies with one hundred or more employees, as well as the possible impact of some alternative legal measures: incentives (fiscal incentives and tradable rights) and information disclosure policies. The analysis is based on work regarding the efficacy of legal norms in general, and particularly the literature concerning the cost and cognitive effects of those norms. Given its exclusively theoretical character, the paper does not affirm the superiority of any regulatory strategy over the current law, but draws attention to the likely reasons for the failure of the quota system and for the potential and inconveniences of its proposed alternatives.

Identifying Challenges and Opportunities for Residents in Upernavik as Oil Companies are Making a First Entrance into Baffin Bay

DEFF Research Database (Denmark)

Merrild, Anne; Tejsner, Pelle

2016-01-01

The oil industry is making its first entrance offshore in Baffin Bay in a time where Inuit residents on the northwest coast of Greenland are struggling to uphold a traditional way of living. The operating oil companies are encouraged by the Government of Greenland to promote a high degree of loca...

Strategic positioning and repositioning of oil companies in the upstream business: understanding the historical evolution of firms' strategic behavior

International Nuclear Information System (INIS)

Teixeira Carneiro, J.M.; Ferreira Deschamps Cavalcanti, M.A.; Dos Santos, E.M.

1999-01-01

This is the second article of a series whose objective is to use the analytical framework proposed by Michael Porter, from the University of Harvard, to study the global oil competition game and the competitive advantages of oil companies. The paper focuses on the historical changes in the positioning and behavior of various actors in the upstream oil industry. The authors start by describing the main oil actors and their initial strategic positioning before 1973. Then, the changes and the firm's strategic repositioning during the oil crisis in the 1970's and 1980's are analyzed. (author)

Fugitive emission inventory from Brazilian oil and gas industry (2000-2005) and discussion of mitigation measures

Energy Technology Data Exchange (ETDEWEB)

Carloni, Flavia A.; D' Avignon, Alexandre; La Rovere, Emilio L. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE). Centro Clima

2008-07-01

The objective of this work is to evaluate current emissions of GHGs within the Brazilian oil and gas industry, specifically the fugitive emissions arising from exploration and production. Besides, projects for mitigating these emissions and opportunities for the national industry are investigated. Results show that N{sub 2}O contributes little to fugitive emissions from the oil and gas industry, principally from gas sector. NMVOC emissions are significant, principally from the oil sector. In relation to CO{sub 2} and CH{sub 4} emissions, the oil sector emits more CO{sub 2} while the gas sector contributes more to CH{sub 4} emissions. In both sectors flaring is the activity that emits most CO{sub 2}. In relation to CH{sub 4} the principal contribution to emissions are from exploration and production onshore, although offshore activities as a whole play a greater part in the national industry. The results make it clear that the use of gas from flaring activity is a great opportunity for emission mitigation projects. From a business point of view, methane emissions could mean lost opportunities in selling natural gas. The Kyoto Protocol mechanisms, as the Clean Development Mechanism and Joint Implementation actions, provide the opportunity to stimulate investments in projects for reducing flaring and venting of associated gas. (author)

The Integration Aspects of Activities of the Companies in the Oil and Gas Industry Sector in the Context of Globalization

Directory of Open Access Journals (Sweden)

Panevnyk Tetiana M.

2016-05-01

Full Text Available The article considers both the dynamics and the structure of oil and gas production in Ukraine, situation of the oil and gas companies at the current stage of globalization of the world economy have been covered. The main problems impacting the functioning of the domestic industry sector have been identified, including the lack of effectiveness of the existing integration processes. The world trends and patterns of integration processes have been considered. It has been determined that the oil and gas industry sector leaders are the multinational companies that actively use integration in their practices. The current trends in creating integration linkages in different parts of the process chain in the oil and gas industry have been identified. Influence by large corporations of the innovative type on the creation of a favorable investment climate has been confirmed, as well as conducting their own policies of expansion in the overseas markets. On the basis of studying the foreign experience, expediency of development of the oil and gas sector enterprises by activating integration processes has been substantiated. Priorities and possibilities for further functioning of enterprises in the the oil and gas industry sector have been identified

Assessing scenarios of the brazilian energy matrix in the long-term plan of Ministry of Mines and Energy: impacts in the oil and gas industry; Avaliacao de cenarios de matriz energetica nacional no plano de longo prazo do Ministerio de Minas e Energia: impactos na industria de oleo e gas

Energy Technology Data Exchange (ETDEWEB)

Machado, Giovani; Szklo, Alexandre; Schaeffer, Roberto [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

2004-07-01

The Law no. 9,478/97 establishes that among its attributions the Energy Policy National Council (CNPE) must review periodically the national energy matrix. This paper aims at discussing the scenarios considered in the current revision based on an integrated energy planning approach, identifying its key points and analyzing its eventual consequences, particularly for oil and gas industry. More precisely, it evaluates the effects over the O and G industry of changes in the international and national circumstances. The international key factors focused are, mainly, oil and oil product prices and productive and technological strategies of O and G companies. The national key factors discussed fuel prices, inter-fuel substitution potentials, efficiency levels, potentials of new discovers and characteristics of Brazilian reserves of oil and natural gas (on-shore or off-shore E and P, oil or gas fields, API degree density, sulfur and acid contents), and adequate energy infra-structure (necessity of distribution and transportation grid expansion, refining capacity etc.). Such discussions have important implications for public policies and corporate strategies. (author)

Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies

Directory of Open Access Journals (Sweden)

Wladimir Andreff

2015-12-01

Full Text Available An overall comparative study of outward foreign direct investment (OFDI from BRIC countries and strategies conducted by multinational companies (MNCs based in the BRICs is elaborated on with a same methodology for Brazil, Russia, India and China. The comparison pertains to the historical emergence of firms’ internationalisation, their booming expansion in the 2000s then their muddling through the current crisis, the specificities of OFDI from each home country, OFDI geographical distribution and industrial structure, econometric testing of the respective determinants of Brazilian, Russian, Indian and Chinese OFDI, and the role of home countries’ governments vis-à-vis home-based MNCs. Beyond some common characteristics, BRICs’ MNCs exhibit a number of major country-specific features.

The Restrictions to the Improper Use of Liability Company's Administration as a Way of Shareholder's Protection

Directory of Open Access Journals (Sweden)

João Luis Nogueira Matias

2016-12-01

Full Text Available The brazilian limited company, in line with the principles of the Constitution, is not treated as partners's subject. There is the recognition of outside's interest. New standards are set in the internal relations with the protection of the rights of the minority. The partners can shape the limited company governance, however, the brazilian civil code put cogent norms that limit the abuse of management. In this paper will be analyzed the administration typology; agency conflicts; conflicts of interests between direction and the limited company and the management control. It is verified that the restrictions on brazilian limited company administration provides protection to shareholders.

Predictive Power and Value Relevance of Comprehensive Income Statement: an analysis of Brazilian companies listed on the BM&FBovespa

Directory of Open Access Journals (Sweden)

Marcello Angotti

2016-09-01

Full Text Available The study aimed to analyze if the information about comprehensive income (CI and its individual components have predictive power to determine the Operating Cash Flow of the subsequent period (OCFt+1 at the Brazilian capital market companies. The research methodology has used financial data collected from Economatica® and CVM databases. The sample selection was performed considering the availability of variables: OCFt+1 and share prices. The period analyzed comprehended the years 2012-2014. It were used quantitative valuation techniques, establishing two moments of study: the first moment by testing the hypothesis that CI has greater predictive power than Net Income (NI for forecasting OCFt+1 (528 firms/years; and the second moment by testing the hypothesis that CI and its components have a value relevance at the Brazilian capital market (605 firms/years. The results suggest that the analysis of the consolidated CI individually would not be incremental for forecasting OCFt+1. However, an increase was observed in the predictive capacity for OCFt+1, with the inclusion of Other Comprehensive Income (OCI. Could not be verified, with aggregate disruption of the individual items of OCI, incremental capacity to determine the OCFt+1. It was observed that the Equity and NI have value relevance, but that is not confirmed to consolidated CI. Added to that, only the cash flow hedge was significant to explain the market value of the company, indicating there is informational benefit to stakeholders that employ the CI in their analysis.

Personal, place, and time characteristics of offshore accidents in five oil companies operating in Indonesia

International Nuclear Information System (INIS)

Rahardjo; Sudjoko; Sebayang

1991-01-01

This study is to determine personal, place and time characteristics of offshore accidents during the year of 1987, 1988 and 1989 of five oil companies operating in Indonesia. Age, length of service, employment status, job characteristics, work cycles, work schedules, marital status, citizenship, disability, anatomy and nature of accident

Ecoefficiency indicators for natural gas transportation companies; Proposta de indicadores de desempenho ambiental para empresas do segmento de transporte de gas natural

Energy Technology Data Exchange (ETDEWEB)

La Rovere, Emilio Lebre; Mariano, Jacqueline Barboza; Garcia, Katia Cristina; Salgado, Vivian Gullo [Universidade Federal, Rio de Janeiro, RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia. Programa de Planejamento Energetico; Faertes, Denise [TRANSPETRO - PETROBRAS Transporte, Rio de Janeiro, RJ (Brazil); Barata, Martha Macedo de Lima [Fundacao Inst. Oswaldo Cruz (FIOCRUZ), Rio de Janeiro, RJ (Brazil)

2005-07-01

This paper aims to present a cast of environmental indicators, more specifically ecoefficiency indicators, to natural gas pipeline transportation companies. So as to do that, are defined the concepts of ecoefficiency and sustainability with its principal related environmental indicators. The environmental impacts and aspects of the natural gas pipeline transportation are discussed, and the concept of cleaner service and production is considered in the context of this activity. Are also presented and analyzed the most important indicators of environmental performance used by oil and gas companies and by natural gas transportation companies, so as to support the choice of the proposed indicators. Finally, the cast of the indicators, which was based on the assessment of the Brazilian Northeast System of gas pipelines, operated by PETROBRAS Transporte S.A., TRANSPETRO, is presented. (author)

Global Job Opportunities with a ``Super-Major'' Oil and Gas Company

Science.gov (United States)

Baranovic, M. J.

2001-12-01

Shell International Exploration and Production Company is one of the world's largest private employers of geoscientists with approximately 1500 geophysicists and geologists employed worldwide. The companies of the Royal Dutch/Shell Group together produce, process, and deliver energy to consumers. Operating across the globe, in more than 130 countries and with more than 100,000 staff, Shell companies are guided by values developed over more than a century of successful enterprise. Responsibilities and Career Path - As a processing or research Geophysicist, you will use proprietary methods to prepare 2D and 3D seismic data volumes for the direct detection of hydrocarbons, the delineation of reservoirs or to define the stratigraphic and structural framework of the subsurface. As an exploration or development Geophysicist, your business will be finding commercially viable oil and gas reserves by using 3D seismic acquisition, processing, and interpretation techniques. Your advanced geological models of the subsurface will drive drilling proposals, optimizing appraisal of hydrocarbon resources. As a production or surveillance geophysicist, your 4D seismic interpretations and geological models will drive drilling proposals and optimize the production and depletion of existing oil and gas accumulations. Up to seven steps in the technical career ladder are possible. Team leader and management candidates are chosen from Shell's technical workforce based on technical and business acumen demonstrated on the job. Projects - Geophysicists work as part of multi-disciplinary teams on projects that typically last from 18 to 36 months. Teams are responsible for projects that may vary from \\$1 million to hundreds of millions in scope. Accountability and responsibility varies according to individual experience level and team structure. Lifestyle - Geophysicists are mainly office-based, with business travel requirements rarely exceeding 2 weeks per event. In the U.S., Shell allows

On the rate of return and risk factors to international oil companies in Iran's buy-back service contracts

International Nuclear Information System (INIS)

Ghandi, Abbas; Lin Lawell, C.-Y. Cynthia

2017-01-01

We analyze the rate of return (ROR) and risk factors faced by Shell Exploration, an international oil company (IOC), in its Soroosh and Nowrooz buy-back service contract in Iran. In particular, based on our models of cash flow, we analyze the buy-back contract specific risk factors that can contribute to a reduction in the rate of return for the international oil company. Our cash flow models resemble the cash flow of buy-back service contracts before the Iranian government changed the way it determined the capital cost ceiling and pre-defined the oil price in these contracts in 2008–2009. Our actual and contractual cash flow models reveal that Shell Exploration's actual ROR was much lower than the contractual level. Furthermore, we find that among the risk factors that we considered, a capital cost overrun has the greatest negative effect on the IOC's ROR. Moreover, we show that there is a potential for modifying the contracts in order for the IOC to face an actual ROR closer to the contractual ROR even if the contract faces cost overrun or delay, without exceeding the maximum contractual ROR that the National Iranian Oil Company is willing to give. - Highlights: • Buy-back contract specific risk factors can reduce the rate of return. • Shell Exploration's actual ROR was much lower than the contractual level. • A capital cost overrun has the greatest negative effect on the rate of return. • Contracts can be modified to better share the risk.

The Cultural Challenges of Managing Global Project Teams: A Study of Brazilian Multinationals

Directory of Open Access Journals (Sweden)

Ivete Rodrigues

2013-04-01

Full Text Available The internationalization of Brazilian companies brings a new reality: the need for implementation of global projects that bring, in turn, the challenge of managing multicultural teams. Since this is a recent phenomenon with little theoretical development, this study sought to understand the relationships between cultural characteristics and management teams of global projects in Brazilian multinationals. To carry this discussion forward, we studied six cases of Brazilian multinational companies, with the aim of deepening the understanding of the management of global teams, involving the planning, deployment, development and management of human resources. Among the projects studied, it was found that there is very little concern with the specific issue of multiculturalism and little inter-cultural incentive to the development of team members, which ends up hindering the construction of a global mindset, important for the Brazilian multinational companies to perform successfully abroad. Faced with this situation, each of the managerial processes mentioned were presented with a number of actions to be undertaken by the project manager in three different dimensions: the project itself, the organization and the global environment. The work contributes, thus, to enable Brazilian multinational companies to manage their global teams in order to maximize the advantages of global teams, such as increased creativity and innovative capacity, but avoid the problems that multiculturalism can bring, ranging from conflicts between people to project failure.

Three Essays on National Oil Company Efficiency, Energy Demand and Transportation

Science.gov (United States)

Eller, Stacy L.

This dissertation is composed of three separate essays in the field of energy economics. In the first paper, both data envelopment analysis and stochastic production frontier estimation are employed to provide empirical evidence on the revenue efficiency of national oil companies (NOCs) and private international oil companies (IOCs). Using a panel of 80 oil producing firms, the analysis suggests that NOCs are generally less efficient at generating revenue from a given resource base than IOCs, with some exceptions. Due to differing firm objectives, however, structural and institutional features may help explain much of the inefficiency. The second paper analyzes the relationship between economic development and the demand for energy. Energy consumption is modeled using panel data from 1990 to 2004 for 50 countries spanning all levels of development. We find the relationship between energy consumption and economic development corresponds to the structure of aggregate output and the nature of derived demand for electricity and direct-use fuels in each sector. Notably, the evidence of non-constant income elasticity of demand is much greater for electricity demand than for direct-use fuel consumption. In addition, we show that during periods of rapid economic development, one in which the short-term growth rate exceeds the long-run average, an increase in aggregate output is met by less energy-efficient capital. This is a result of capital being fixed in the short-term. As additional, more efficient capital stock is added to the production process, the short-term increase in energy intensity will diminish. In the third essay, we develop a system of equations to estimate a model of motor vehicle fuel consumption, vehicle miles traveled and implied fuel efficiency for the 67 counties of the State of Florida from 2001 to 2008. This procedure allows us to decompose the factors of fuel demand into elasticities of vehicle driving demand and fuel efficiency. Particular

Four state companies are markedly different

International Nuclear Information System (INIS)

Aalund, L.R.

1995-01-01

The Journal continues its profiles of state owned oil companies with a return to the Persian Gulf, South America, and a first time look at the state oil company of Romania, one of Eastern Europe's most active and oldest producers. The government of Kazakhstan's activities are also covered in this report. These profiles detail the organization of the companies, with emphasis on upstream and downstream operations. Support functions, though essential to a company, are not covered in detail. Company projects and capabilities are only described in this report when necessary to put the company in perspective. Following are the profiles of state companies for Bahrain, Kuwait, Romania, and Venezuela

Stuck in the tar sands : how the federal government's proposed climate change strategy lets oil companies off the hook

International Nuclear Information System (INIS)

2008-10-01

The credibility of any federal climate change strategy must be measured against its ability to reduce emissions from the tar sands. However, the federal government has proposed a climate change strategy that would allow tar sands producers to double their total emissions over the next decade. This report discussed how the federal government's proposed climate change strategy lets oil companies off the hook. The report discussed the problems and harmful effects associated with tar sands development, including greenhouse gas emissions; water depletion and pollution; toxic air emissions; destruction of the boreal forest; violation of native rights; threat to energy security; and negative socio-economic spin-off from an overheated economy. The federal government's proposed strategy was also assessed in terms of its weak greenhouse gas targets; ignoring the recent growth in tar sands emissions; adopting intensity-based targets instead of hard caps on greenhouse gas pollution, allowing total emissions from the tar sands to keep climbing; putting off critical measures until 2018; awarding oil companies hundreds of millions of dollars in credits for meeting targets they have already adopted voluntarily; lowballing the price of oil and downplaying future growth in tar sands emissions; ignoring huge portions of the oil industry's greenhouse gas pollution; letting oil companies buy their way out at rockbottom prices instead of forcing them to reduce their own emissions; and subsidizing increased tar sands production. It was concluded that the federal government's proposed plan to reduce greenhouse gas emissions was inadequate, because it failed to crack down on rising greenhouse gas emissions from the tar sands, one of Canada's most carbon intensive and fastest growing industries. 29 refs., 1 appendix

China's overseas strategies for oil and gas investment: implications for Brazil; A estrategia de investimentos externos da China no setor de petroleo e gas natural e suas implicacoes para o Brasil

Energy Technology Data Exchange (ETDEWEB)

Pinho, Alice Kinue Jomori de; Fonseca, Maria Mendes da; Silva, Roberta Salomao Moraes da [Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (ANP), Rio de Janeiro, RJ (Brazil)

2012-07-01

The present work discuss Chinese strategies for making foreign investments in O and G sector, taking into account NOC's huge investment capability and increasing oil demand with sustains China's economic growth. Initially, the effect of China's economic growth rate on international oil market is addressed. The paper also details the relationship between Chinese NOCs and the Government, highlighting their aims and strategies, as well as the results of their results. Finally, this article evaluates how those strategies can affect Brazilian O and G upstream sector. Despite of concerns on Chinese government interference in NOCs management and decision processes, it is show that those State companies pursue much wider objectives, which transcend the mere search for energy security, such as asset diversification, access to new technologies and strengthening of their positions in global economic context. Doing so, those enterprises can become, in the long run, valuable partners of Brazilian PETROBRAS in E and P activities in pre-salt areas, building a win-win relationship not only for the companies involved but also for Brazil and China. (author)

Corporate governance and compensation of chief executive officer Brazilian

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Paulo Roberto da Cunha

2016-08-01

Full Text Available This study aimed to analyze the corporate governance attributes that affect the compensation of executive directors of Brazilian public companies. We conducted a descriptive, documentary and quantitative research. The study sample comprised the 100 Brazilian companies listed on the BM&FBovespa, belonging to the Novo Mercado. From the study results it was found that the variable size of the company showed a significant relation to the fixed remuneration. The shareholding of directors, board size and ROA were significant to the variable remuneration, however, the stake and the size of negatively board of directors. The size of the board, the ROA and firm size were related significantly to the total remuneration. We conclude that the corporate governance attributes that affect the compensation of executive officers of the companies analyzed were the shareholdings of directors, size of the board, ROA and firm size.

MARKET OF NON-WOOD FOREST PRODUCTS FROM BRAZILIAN SAVANNA

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Sandra Regina Afonso

2009-10-01

Full Text Available In this article, we analyze the main non-wood forest products from Brazilian savanna. We studied the behavior and the growth rates of production and prices of almond of babaçu, oil of copaiba, fiber of buriti, leaf of jaborandi, bark of barbatimão, bark of angico, fruit of mangaba, almonds of pequi, from 1982 to 2005. All the products exhibited decreasing production, with exception of the oil of copaiba and almonds of pequi, which showed positive growth rates: 12.9% and 8.5%, respectively. The analysis of prices for most products was not significant, except for barks of barbatimão and angico, and almonds of pequi, which showed positive trends: 10.9%, 6.7%, and 4.6%, respectively. We believe that results were not significant due to the severe variations of the Brazilian currency in the period. We conclude that pequi is the main product from savanna and that oil of copaiba has the biggest increase in the production because most of the production comes from the whole Brazilian Amazon region.

Mitsubishi Oil to become a major oil player?

International Nuclear Information System (INIS)

Ash, N.

1994-01-01

Mitsubishi Oil became a wholly-owned Japanese company in 1984. Before that, since 1981, it had been a joint venture between Mitsubishi and Getty oil. Recently the company has discovered a major new oilfield off the coast of Vietnam. In addition it has a strategic stake in the Canadian Athabasca Far Sands, major investments in Angola and operations in Papua New Guinea and Gabon. It aims to cover 30 % of the crude oil imports to its four existing, and fifth projected, refineries from owned sources by the end of the century. Mitsubishi has a network of 4500 service stations in Japan and has become one of the largest lubricating oil producers. The company's main overseas sales are of jet fuel, lubricating and tanker oils, sulphur and some petrochemicals. (UK)

Analysis of management quality and management decisions made using the example of russian oil and gas companies

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Kostylev A.O.

2016-03-01

Full Text Available Results of empirical surveys performed by Russian and foreign researchers with regard to behavior patterns of managers, authorized by owners to make investment decisions, are systematized. Analysis of management quality and decisions made by Russian oil and gas managers are performed using the following 2 criteria: market capitalization change and opinion of professional society. The purpose of the research is to attract attention to low management quality in Russian statowned oil and gas companies.

Competitiveness of wood pulp production in different Brazilian states

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Naisy Silva Soares

2013-06-01

Full Text Available This work aimed to analyze the competitiveness of wood pulp production in different Brazilian states, in May, 2008 (Minas Gerais, São Paulo, Espírito Santo and Bahia, using the Policy Analysis Matrix (PAM. The results obtained indicated that the private and social profitability of wood pulp production and commercialization was positive and greater in Bahia. The Brazilian companies were penalized by public policies adopted for the sector; the wood pulp production in São Paulo and Bahia were more competitive and less exposed to the negative effects of public policies that reduce the national company profits.

Propositions of new correlations for prediction of physical-chemical properties in products of Brazilian crude oil; Proposicao de novas correlacoes para calculo de propriedades fisico-quimicas de derivados de petroleos brasileiros

Energy Technology Data Exchange (ETDEWEB)

Pinto, Ulysses Brandao [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2008-07-01

The prediction of products properties is a useful tool in the petroleum industry, because it allows the estimation of quality when it is not possible to be determined it in the laboratory. Among existing correlations for properties prediction, the best known are those from the American Petroleum Institute (API), but there are limitations in the use of such models to estimate the properties of Brazilian petroleum products. A study was done to determine new correlations which would adjust to these oils. In this work a statistical treatment was used in a group of samples covering products from oils produced in several regions of Brazil. The results of this study are presented in this work. New correlations are proposed to estimate the aniline point, pour point and cloud point of Brazilian oil products. The data are showed graphically, with the experimental values plotted against the results of both the proposed and the API correlations. The average absolute deviations obtained for these correlations were smaller than those presented by the API equations, for the same data sets. This work helps to improve the quality estimation of Brazilian petroleum products using process simulators. (author)

Oil and development in Brazil: Between an extractive and an industrialization strategy

International Nuclear Information System (INIS)

Paz, M. José

2014-01-01

In the wake of the commodity boom, “new development strategies” in Latin America are centering on the industrialization of natural resources, thereby questioning the “resource curse” thesis and linking the economic performance of this activity with the institutional framework. In this context, the aim of this paper focusing on the Brazilian oil sector is to analyze the implementation of a resource-based industrialization strategy. After analyzing the Brazilian institutional framework and identifying the key features of a resource-based industrialization strategy, we assess its development and identify its scope and limitations. - Highlights: • We analyze the Brazilian oil sector’s institutional framework. • We analyze the influence of the institutional framework in the Brazilian oil sector performance. • We identify the key features of a resource-based industrialization strategy. • We assess the performance of the Brazilian oil sector and, in particular, its industrialization path

Natural gas: Governments and oil companies in the Third World

International Nuclear Information System (INIS)

Davidson, A.; Hurst, C.; Mabro, R.

1988-01-01

It is asserted that oil companies claim to be generally receptive to gas development proposals; however, the lack of potential markets for gas, problems of foreign exchange convertibility, and lack of a legal framework often hinders their engagement. Governments, on the other hand, need to secure domestic energy supply and, if possible, gain some export earnings or royalties. An extensive discussion on the principles of pricing and fiscal regimes, potential points of disagreement is provided. A course of action is outlined from the managerial point of view to circumvent the most common pitfalls in planning and financing a gas project. Eight very detailed case studies are presented for Argentina, Egypt, Malaysia, Nigeria, Pakistan, Tanzania, Tunisia and Thailand

Countries and companies

International Nuclear Information System (INIS)

Jenning, J.S.

1990-01-01

The trends and factors currently emerging are likely to have significant influence on the way the upstream oil and gas industry evolves in the coming decade. This paper discusses how these trends might influence events in the 1990s, particularly how they might influence relationships between host countries and companies in the oil industry. State owned companies will dominate the industry in resource terms. These statcos fall into three groups: a small group of technically able, financially sound, well-managed companies; a group of consumer statcos that have limited domestic production but significant domestic demand; a large group that are finding it difficult to maintain their production facilities in good standing to maximize recovery from their resources. This paper describes the future private sector as consisting of the Surviving Sisters and smaller, private companies very active in the upstream. How will these various players behave in the years to come? Conventional activity in the upstream will continue as companies seek to optimize their upstream portfolios

Diversification of Oil and Gas Companies’ Activities in the Condition of Oil Prices Reduction and Economic Sanctions

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Anastasia V. Sheveleva

2016-01-01

Full Text Available This article analyzes the influence of the economic sanctions imposed from the USA and the EU and oil prices reduction on the oil and gas companies and the directions of diversification of their activity as a method of management of price risks are considered. In the modern dynamic and quickly developing world, in the conditions of globalization and market economy, the oil and gas companies are affected by various risks which can exert negative impact on production and financial results. Risks can arise in absolutely various spheres, beginning from natural and technological hazards, and finishing with price risks. Sharp reduction of oil prices and decrease in demand for energy resources in the world markets, first of all in the European countries, input of financial or technological sanctions from the USA and Europe against Russia in 2014 has caused necessity of search a new more effective methods of price risks management of the oil and gas company. The methods of price risk management include the creation of commodity reserves, the establishment of a reserve fund, long-term contracts, subsidies from the state and the diversification of activities. The most effective it is possible to offer diversification of oil and gas companies' activity. It is expedient to carry out diversification of oil and gas companies' activity in such directions as geographical diversification of the oil, oil products and gas realization directions, geographical diversification of oil and gas companies' purchasing activity, diversification of oil, oil products and gas transportation ways, diversification of oil and gas companies' business. This approach allows to expand the activities of the oil and gas companies and create additional ways to generate revenue and enhance efficiency of oil and gas companies.

Hedging with futures contracts in the Brazilian soybean complex: BM&F vs. CBOT

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Andréia Regina O. da Silva

2003-06-01

Full Text Available This article analyzes the effectiveness of hedging Brazilian soy oil, soy meal, and soybeans in the Chicago Board of Trade (CBOT and in the Brazilian Commodities and Futures Exchange (BM&F to reduce the risk of financial loss due to commodity price fluctuations. The econometric results show that a cross-hedging strategy using the BM&F soybean futures contract is an instrument of low effectiveness for managing soy oil and soy meal price risk. Despite low effectiveness, the estimates demonstrate total advantage for soy meal hedging operations using CBOT soy meal futures contracts rather than cross-hedging using BM&F soybean futures contracts. With some exceptions, the results are also more favorable for hedging soy oil with soy oil futures contracts at the CBOT rather than cross hedging with soybeans at the BM&F. Conversely, Brazilian traders hedging soybeans receive more effective risk protection by trading soybean futures contracts at the BM&F than by trading soybean futures contracts at the CBOT.

China's overseas strategies for oil and gas investment: implications for Brazil; A estrategia de investimentos externos da China no setor de petroleo e gas natural e suas implicacoes para o Brasil

Energy Technology Data Exchange (ETDEWEB)

Pinho, Alice Kinue Jomori de; Fonseca, Maria Mendes da; Silva, Roberta Salomao Moraes da [Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (ANP), Rio de Janeiro, RJ (Brazil)

2012-07-01

The present work discuss Chinese strategies for making foreign investments in O and G sector, taking into account NOC's huge investment capability and increasing oil demand with sustains China's economic growth. Initially, the effect of China's economic growth rate on international oil market is addressed. The paper also details the relationship between Chinese NOCs and the Government, highlighting their aims and strategies, as well as the results of their results. Finally, this article evaluates how those strategies can affect Brazilian O and G upstream sector. Despite of concerns on Chinese government interference in NOCs management and decision processes, it is show that those State companies pursue much wider objectives, which transcend the mere search for energy security, such as asset diversification, access to new technologies and strengthening of their positions in global economic context. Doing so, those enterprises can become, in the long run, valuable partners of Brazilian PETROBRAS in E and P activities in pre-salt areas, building a win-win relationship not only for the companies involved but also for Brazil and China. (author)

Social Conflicts Between Oil-Palm Plantation Company and Indigenous People in Jambi Province

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Dewi Nilakrisna

2016-05-01

The study results showed that the implementation of the large scale oil-palm plantation development policy, has caused approximately 1/3 area of Batang Hari Regency was controlled by the private companies and give negative impacts to almost 3.000 peoples of SAD Batin 9 community. They have been evicted, marginalized and face the uncertainty rights to the land. The implementation of oil palm plantation development policy without take a no tice to the existing social environmental condition has deny the indigenous people existence. It has stimulated some contradiction to the injustice government policy. Therefore this research recommends the government to consider about the social and environmental impacts before issued any policy in order to protect the social justice for all citizens.

New round for oil

International Nuclear Information System (INIS)

Delamarche, Myrtille

2018-01-01

After three years of crisis, oil companies are now strongly reinvesting, while oil prices are stabilizing at a reasonable long-term level, notably due to a rising demand from developing countries. Examples of new investments made by majors such as Total, Shell or Exxon but also by national companies and junior companies, are given. Oil price evolution as well as cost reductions (thanks notably to the digitalisation of the sector, leading to a decrease in exploration costs) are analyzed. The importance of the US oil production, and particularly shale oil production, is pinpointed

Calculation and analysis of environmental costs of the atmospheric pollution from brazilian oil refinery; Calculo e analise dos custos ambientais da poluicao atmosferica emitida por uma refinaria de petroleo brasileira

Energy Technology Data Exchange (ETDEWEB)

Mariano, Jacqueline [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

2004-07-01

The present study presents a calculation of the environmental costs associated with the atmospheric pollution from a brazilian oil refinery and its analysis (the name of this oil refinery is confidential, for this reason it will not be mentioned). The calculation of the costs was based on a study of north-american researchers, about the environmental costs of five main atmospheric pollutants: particulate matter, sulphur oxides, nitrogen oxides, volatile organic compounds (VOC's) and carbon monoxide. The original American study offers an statistical analysis of several other American studies about environmental costs of atmospheric pollution, that present maximum, medium and minimum costs. Based on these values, the total environmental costs of the atmospheric pollution from the brazilian oil refinery were calculated, considering a fifty year operational time for the facility. The internalization of the atmospheric pollution environmental costs by the refiners is aligned with the world tendency of enforcement of the environmental limitations faced by the oil refining sector, and therefore, the adoption of a pro-active attitude is recommended by the present study. (author)

From health plan companies to international insurance companies: changes in the accumulation regime and repercussions on the healthcare system in Brazil

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Ligia Bahia

Full Text Available Abstract: The concentration and internationalization of health plan companies in Brazil gave them a clearly financial face. Based on the need to understand the health care industry's capital accumulation patterns, the current study examines health plan companies' expansion strategies through the classification of their supply and demand characteristics by recent historical periods and an analysis of recent shareholding trends in one of the leading corporations in the Brazilian health care industry. The 1960s to 2000s witnessed changes in the scale of demands for health plans and adherence by companies to long-term accumulation strategies. Beginning in the early 21st century, changes in the shareholding structures of the largest Brazilian company, consistent with the financialization of its accumulation regime, resulted in the rapid multiplication of its capital. Deepening segmentation of the health care system in a context marked by the downturn in the national economy challenges the preservation of public subsidies for private health plans.

Effectiveness of business strategies in Brazilian textile industry

OpenAIRE

Batista, Paulo César de Sousa; Lisboa, João Veríssimo de Oliveira; Augusto, Mário Gomes; Almeida, Fátima Evaneide Barbosa de

2016-01-01

ABSTRACT This research analyses how the interaction between strategy capabilities, strategy types, strategy formulation quality and implementation capability affect organizational performance in Brazilian textiles companies. This article proposes and tests a conceptual framework, using a structural equation modeling of a set of 211 valid questionnaires on Brazilian textiles firms. The results support links between focus strategy and marketing capabilities, and between cost leadership strategy...

Screening of the odour-activity and bioactivity of the essential oils of leaves and flowers of Hyptis Passerina Mart. from the Brazilian Cerrado

Energy Technology Data Exchange (ETDEWEB)

Zellner, Barbara D.; Amorim, Ana Carolina L.; Rezende, Claudia M. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Centro de Tecnologia. Inst. de Quimica]. E-mail: crezende@iq.ufrj.br; Miranda, Ana Luisa P. de [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Faculdade de Farmacia; Alves, Ruy J.V. [Museu Nacional, Rio de Janeiro, RJ (Brazil). Dept. de Botanica. Herbario; Barbosa, Jussara P.; Costa, Gisela L. da [Instituto Oswaldo Cruz (FIOCRUZ), Rio de Janeiro, RJ (Brazil). Lab. de Taxonomia, Bioquimica e Bioprospeccao de Fungos

2009-07-01

The chemical profile of the essential oils obtained from the leaves and flowers of Hyptis passerina Mart., a rare species of the Brazilian Cerrado, has been determined for the first time. Analyses by GC-MS showed sesquiterpenes as major compounds. {beta}-epi-acorenol (35.7% and 32.8%, respectively from leaf and flower essential oils), was isolated and identified by 1D and 2D NMR. The flower-derived oil presented a higher concentration of hydrocarbon and oxygenated monoterpenes, while the leaf-oil was richer in diterpenes. The global odour impressions of both oils were given by direct analysis and GC-MS-O and were characterized as herbaceous with tea notes, and green, cooked and woody impressions for leaf-oil; herbaceous, with spicy, woody and minty notes for flower-oil. {beta}-epi-acorenol, spathulenol, {beta}-caryophyllene, and caryophyllene oxide were relevant for the odour-activity of both oils, as well as minor constituents, such as linalool. The antimicrobial activity was investigated by means of agar diffusion disc method and contact bioautography, against Gram-positive and negative bacteria and yeast. Both oils presented to be bioactive against the tested microorganisms with significant inhibition level. (author)

Screening of the odour-activity and bioactivity of the essential oils of leaves and flowers of Hyptis Passerina Mart. from the Brazilian Cerrado

International Nuclear Information System (INIS)

Zellner, Barbara D.; Amorim, Ana Carolina L.; Rezende, Claudia M.; Miranda, Ana Luisa P. de; Alves, Ruy J.V.; Barbosa, Jussara P.; Costa, Gisela L. da

2009-01-01

The chemical profile of the essential oils obtained from the leaves and flowers of Hyptis passerina Mart., a rare species of the Brazilian Cerrado, has been determined for the first time. Analyses by GC-MS showed sesquiterpenes as major compounds. β-epi-acorenol (35.7% and 32.8%, respectively from leaf and flower essential oils), was isolated and identified by 1D and 2D NMR. The flower-derived oil presented a higher concentration of hydrocarbon and oxygenated monoterpenes, while the leaf-oil was richer in diterpenes. The global odour impressions of both oils were given by direct analysis and GC-MS-O and were characterized as herbaceous with tea notes, and green, cooked and woody impressions for leaf-oil; herbaceous, with spicy, woody and minty notes for flower-oil. β-epi-acorenol, spathulenol, β-caryophyllene, and caryophyllene oxide were relevant for the odour-activity of both oils, as well as minor constituents, such as linalool. The antimicrobial activity was investigated by means of agar diffusion disc method and contact bioautography, against Gram-positive and negative bacteria and yeast. Both oils presented to be bioactive against the tested microorganisms with significant inhibition level. (author)

Biological Assets in Companies in Brazil: Pursuant To CPC 29 and Association with Business Features

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Vinicius Martins Macedo

2015-12-01

Full Text Available The adoption of international accounting standards in Brazil has brought about changes in the form of recognition, measurement and disclosure of economic facts of companies. In order to harmonize the accounting standards with the international standard-setting bodies Brazilian approved CPC 29, which establishes the accounting treatment and disclosure of biological assets and agricultural products. The objective of this study was to verify the Brazilian companies with biological assets the level of compliance with the CPC 29 and its association with business features. The study adopted the descriptive approach and examined the consolidated Financial Statements for the year 2013 of Brazilian public companies. In total 19 companies were analyzed showed that biological assets in 2013. The survey results show that the average compliance of companies with CPC 29 is 74.68%. Regarding the statistical analysis, it was observed that the level of compliance of companies have associations with business characteristics such as sector, governance, size, profitability and representativeness of the asset and the company's size has significant interaction with the level of accordingly. Compared to previous studies it was found that there was a significant increase in company compliance level with CPC 29 over time

Over a barrel: Government influence and mergers and acquisitions in the petroleum industry. The case of Sun Oil Company, 1938-1980

Energy Technology Data Exchange (ETDEWEB)

Powers, W.P. Jr.

1993-01-01

This dissertation examines the nature of government business relations, as perceived by the owners and managers of the Sun Oil Company, a large integrated oil and gas producer, transporter, refiner, and marketer. Sun has had a long and profitable career in the oil industry, success which came despite a complex, often bitter relationship with government in its regulatory and antitrust capacity. The founding Pew family has historically been quite outspoken in its opposition to what they perceived to be the government's chronic, unwelcome intrusion into the affairs of business. Sun's almost one hundred year history can be readily divided into two distinct phases. The first, the period from 1938-1947, could best be characterized as the time when Sun Company officials fought bitterly against what they thought to be excessive government domination over their industry, fearing either the government's outright takeover, or its imposition of burdensome restrictions. After freeing themselves from the government's oppression, Sun management then set out to build a growing, profitable oil concern. From 1938 to the present, Sun has undertaken several transactions that have established the firm as a highly successful petroleum company, including a merger, an aborted takeover, and a successful acquisition. Sun's survival in an endeavor where many perish, either purchased or driven out, provides the focus of this dissertation.

Chemical Composition and Larvicidal Activity of Essential Oils Extracted from Brazilian Legal Amazon Plants against Aedes aegypti L. (Diptera: Culicidae

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Clarice Noleto Dias

2015-01-01

Full Text Available The mosquito Aedes aegypti L. (Diptera: Culicidae is the major vector of dengue and chikungunya fever. The lack of effective therapies and vaccines for these diseases highlights the need for alternative strategies to control the spread of virus. Therefore, this study investigated the larvicidal potential of essential oils from common plant species obtained from the Chapada das Mesas National Park, Brazil, against third instar A. aegypti larvae. The chemical composition of these oils was determined by gas chromatography coupled to mass spectrometry. The essential oils of Eugenia piauhiensis Vellaff., Myrcia erythroxylon O. Berg, Psidium myrsinites DC., and Siparuna camporum (Tul. A. DC. were observed to be mainly composed of sesquiterpene hydrocarbons. The essential oil of Lippia gracilis Schauer was composed of oxygenated monoterpenes. Four of the five tested oils were effective against the A. aegypti larvae, with the lethal concentration (LC50 ranging from 230 to 292 mg/L after 24 h of exposure. Overall, this work demonstrated the possibility of developing larvicidal products against A. aegypti by using essential oils from the flora of the Brazilian Legal Amazon. This in turn demonstrates the potential of using natural resources for the control of disease vectors.

Brazilian Alcohol Program (Proalcool): economic re-evaluation and demand adjustments

International Nuclear Information System (INIS)

Motta, R.S. da; Rocha Ferreira, L. da

1987-01-01

The aim of this paper is to discuss the economic impact on the Brazilian National Alcohol Programme caused by changes in the energy scenery, in view of recent oil price fall in the international market, and evaluate the necessary adjustments of the Programme according to the new Brazilian economic reality. The economic analysis concludes that the alcohol production, considering current production capacity and its investments, could be economically feasible at international oil prices near US$ 30.00. Excluding investments, its feasibility would be between US$ 18.00 and US$ 20.00 per equivalent oil barrel. Based on these conclusions, proposals for adjusting the PROALCOOL are discussed, including alternative pricing, fiscal and credit policies to control the alcohol-fuel demand. (author)

Participação de Empresas Estrangeiras e Consórcios em Leilões de Blocos Exploratórios de Petróleo e Gás no Brasil

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Antonio Rufino da Costa

2010-09-01

Full Text Available Oil companies have a long history of cooperative arrangements. The formation of consortia for participation in projects of exploration and production is a common practice and has been seen in Brazil since 1999, when the oil sector was opened to foreign companies. The purpose of this article is to analyze the participation of foreign companies and consortia formed by companies in the bidding for exploratory blocks conducted by the Brazilian agency of oil, natural gas and biofuel [ANP]. The methodology employed is qualitative, supplemented by quantitative analysis, used to verify the existence of correlation between the shares of foreign companies and consortia and two specific variables: Brazil risk and oil prices on the international market. The findings, from a neoinstitutional perspective, point to the conformation of the Brazilian model to international standards in this economic segment, the participation of a large number of companies in the opening process, highlighting the role of Petrobras in the bid rounds, and the formation of a predominant partnership between Petrobras and Petrogal.

The information content of supplemental reserve-based replacement measures relative to that of historical cost income and its cash and accrual components of oil and gas producing companies

International Nuclear Information System (INIS)

Spear, N.A.

1992-01-01

The empirical analysis indicated that two of the three reserve-based quantity replacement measures are very useful, in terms of explaining the security returns of full cost oil and gas producing companies during the release week of the 1982-1986 annual reports or 10-K filings of these companies. The analysis also indicated that two of the three reserve-based value replacement measures are very useful, in terms of explaining the security returns of full cost oil and gas producing companies during the release week of the 1984-1986 annual reports or 10-K filings. For the period 1987-1988, the empirical analysis indicated that all of the reserve-based quantity and value replacement measures are not useful, in terms of explaining the security returns of full cost oil and gas producing companies during the release week of the annual reports or 10-K filings. The empirical analysis showed no consistent evidence to indicate any systematic difference between the implications of the cash and accrual components of earnings of either the full cost or the successful efforts oil and gas producing companies during the release week of the annual report or 10-K filings

Competitiveness in oil derivatives distribution in Brazil; A concorrencia na distribuicao de combustiveis petroliferos no Brasil

Energy Technology Data Exchange (ETDEWEB)

Carneiro, Flavio Henrique Rodrigues [Rio Grande do Norte Univ., Natal, RN (Brazil). Programa de Recursos Humanos da ANP para o Setor Petroleo e Gas, PRH-36]. E-mail: falavios@uol.com.br

2003-07-01

The aim of this paper is understanding the stimulus given for the Federal government, since the opening of the oil derivatives market, to improve the prices and services competitiveness among the fuel distributing companies in Brazil. The text establishes a confrontation between articles from national press on the subject and the general directives given by brazilian law doctrine. The sources of investigation have been caught in national periodicals and magazines of national circulation in the period from 1999 until 2002. The paper is divided in three parts. The first one presents the Brazilian's fuel distributing historical; the second analyses the free competition in fuel distributing realm in Brazil; and the last one argues the possibilities of forming a free competitive market in the national fuel distributing realm. (author)

Oil market outlook

International Nuclear Information System (INIS)

Starling, Philip

1997-01-01

The role of the International Energy Agency's (IEA) ''OiMarket Report'' is described in terms of its response to and support for oil companies seeking to monitor short-term global oil market developments. The document is increasingly used for reference both by industry and governments. Data is compiled from oil companies, consultants, and government, and OECD countries provide supply/demand oil balance data by product grade on a monthly basic. (UK)

International crude oil prices and the stock prices of clean energy and technology companies: Evidence from non-linear cointegration tests with unknown structural breaks

International Nuclear Information System (INIS)

Bondia, Ripsy; Ghosh, Sajal; Kanjilal, Kakali

2016-01-01

Increasing greenhouse gas emissions, exhaustibility and geo-politics induced price volatility of crude oil has magnified the importance of looking for alternative sources of energy. In this paper, we investigate the long term relationship of stock prices of alternative energy companies with oil prices in a multivariate framework. To this end, we use threshold cointegration tests, which endogenously incorporate possible regime shifts in long run relationship of underlying variables. In contrast to the findings of the previous study by Managi and Okimoto (2013), our results indicate presence of cointegration among the variables with two endogenous structural breaks. This study confirms that ignoring the presence of structural breaks in a long time series data, as has been done in previous study, can produce misleading results. In terms of causality, while the stock prices of alternative energy companies are impacted by technology stock prices, oil prices and interest rates in the short run, there is no causality running towards prices of alternative energy stock prices in the long run. The study discusses the possible reasons behind the empirical findings and concludes with a discussion on short run and long run investment opportunities for the investors. - Highlights: • Cointegration between alternative energy companies stock price and oil price. • Threshold cointegration tests are employed. • Cointegration among the variables exists with two endogenous structural breaks. • Alternative energy companies stock price impacted by oil prices in short run. • No causality running towards prices of alternative energy stock prices in long run.

The Russian oil

International Nuclear Information System (INIS)

Rucker, Laurent

2003-01-01

This article proposes a brief discussion of various assessments of Russian oil reserves, of the evolutions of Russian oil production (Russia is the second world producer after Saudi Arabia), of the distribution of Russian oil exports among various regions, and of the decrease of Russian oil consumption between 1992 and 2002. It describes the evolution of the actor system as the oil sector has been largely privatised since 1992, and indicates the main companies which should control the Russia market on a medium term. It also discusses the obstacles for the development of Production Sharing Agreements (PSA) between these companies. It addresses the issue of modernisation of the oil transport system as its status and its condition are often an obstacle to oil export for Russian companies. The article finally discusses the price issue, the relationship between Russia and other OPEC countries, and the need for huge investments

State-owned companies dominate list of largest non-U.S. producers

International Nuclear Information System (INIS)

Beck, R.J.; Williamson, M.

1994-01-01

Because state-owned oil and gas companies dominate Oil and Gas Journal's list of largest non-US producers, data aren't fully comparable with those of the OGJ300. Many state companies report only production and reserves, with little or no financial data. Companies on the OGJ100, therefore, cannot be ranked by assets or revenues. Instead, they are listed by regions, based on location of corporate headquarters. There was no change in makeup of the top 20 holders of crude oil reserves. These companies' reserves totaled 872.3 billion bbl in 1993. The top 20 non-US companies now control 87.3 % of total world crude oil reserves, according to OGJ estimates. This is up marginally from 87.2 % of total world oil reserves in 1992. The top 20 had 87.7 % of total world reserves in 1991 and 85.5 % in 1990. The table lists company name, total assets, revenues, net income, capital and exploratory expenditures, worldwide oil production, gas production, oil and gas reserves worldwide

Big russian oil round

International Nuclear Information System (INIS)

Slovak, K.; Beer, G.

2006-01-01

The departure of Mikhail Khodorkovsky has brought an end to the idyllic times of supplies of Russian oil to the MOL-Slovnaft group. The group used to purchase oil directly from Yukos. But now brokers have again entered the Central European oil business. And their aim is to take control over all of the oil business. The Russians demonstrated the changed situation to Slovakia last autumn: you will either accept the new model, or there will be problems with oil deliveries. Consumers got the message. The main brokers of Russian oil in Central Europe are the Swiss companies Glencore and Fisotra. Little information is available regarding these commodity brokers. But the information available is sufficient to indicate that these are not small companies. Glencore undertakes 3% of all international oil trades. With an annual turnover of 72 billions USD, it was the biggest Swiss company by turnover in 2004. Fisotra also has an extensive product portfolio. It offers financial and commercial services and does not hide its good relations with Russian oil companies. Between 1994 and 1998, it managed their financial operations with major western companies such as BP, Cargill, Elf, Exxon, Shell, Total, and Mutsubishi and also with Glencore. Fisotra states that some of its clients achieved an annual turnover of 1.5 billions USD. At present, the Swiss brokers receive a fee of 1 to 1.5 USD per barrel. The Russian political elite must be aware of these brokerage services as the oil transport through the transit system is closely monitored by the state owned company Transneft. (authors)

National oil companies and state actors : an assessment of the role of Petronas and ONGC in the foreign policy decision-making process of Malaysia and India using the example of overseas investments in Sudan and South Sudan

OpenAIRE

Steinecke, Tim

2015-01-01

The thesis addresses the role of national oil companies and their overseas engagement in the foreign policy decision-making process of states. Over the past 40 years, national oil companies have gained importance in the international oil industry and currently control around 90 per cent of the global oil reserves. A number of political and economic factors – depleting domestic reserves, economic growth – have resulted in an increasing expansion of Asian national oil companies to Africa. Throu...

Essential oils from fruits with different colors and leaves of Neomitranthes obscura (DC.) N. Silveira: an endemic species from Brazilian Atlantic forest.

Science.gov (United States)

Amaral, Raquel R; Fernandes, Caio P; Caramel, Otávio P; Tietbohl, Luis A C; Santos, Marcelo G; Carvalho, José C T; Rocha, Leandro

2013-01-01

Neomitranthes obscura (DC.) N. Silveira is an endemic plant of Brazilian Atlantic Forest and widely spread in the sandbanks of "Restinga de Jurubatiba" National Park. It is popularly known by local population as "camboim-de-cachorro" or "cambuí-preto" and recognized by its black ripe fruits. However, specimens with yellow ripe fruits were localized in the "Restinga de Jurubatiba" National Park. The aim of the present study was to evaluate chemical composition of essential oils obtained from leaves and fruits of N. obscura specimens with different fruit color (black and yellow) by GC and GC-MS. Essential oils from leaves of specimens with black and yellow fruits indicated a predominance of sesquiterpenes (81.1% and 84.8%, resp.). Meanwhile, essential oil from black fruits presented a predominance of monoterpenes (50.5%), while essential oil from yellow fruits had sesquiterpenes (39.9%) as major substances. Despite previous studies about this species, including essential oil extraction, to our knowledge this is the first report on N. obscura fruits with different colors. Our results suggest the occurrence of unless two different varieties for this species.

State companies dominate non-U.S. OGJ100

International Nuclear Information System (INIS)

Beck, R.J.; Thrash, L.A.

1991-01-01

This paper reports on state owned oil and gas companies which dominate the OGJ100 list of major non U.S. holders of petroleum reserves. Many state companies report only production and reserves information and do not report financial data. Therefore, the companies cannot be ranked by financial data, as they are in the OGJ300. They instead are listed by region, based on location of companies' corporate headquarters. The top 20 companies in crude oil production and reserves are shown. The leading nongovernment company in both reserves and production is Royal Dutch/Shell Group - No. 11 in worldwide liquids reserves and No. 6 in liquids production. Crude oil reserves of the top 20 companies moved up less than 1% last year, increasing 401.5 billion bbl. The year before, when there were substantial reserves adjustments, the top 20 posted an increase of 139.3 billion bbl

Royal Dutch Petroleum Company annual report 1992

International Nuclear Information System (INIS)

Anon.

1993-01-01

The Royal Dutch Petroleum Company has no operations of its own and virtually the whole of its income derives from its 60% interest in the companies known collectively as the Royal Dutch/Shell Group of Companies; the other 40% is owned by the Shell Transport and Trading Company, p.l.c. The company is engaged in the oil, natural gas, chemicals, coal and metals businesses throughout the world. The annual report summarises the year's results and analyses earnings in each industry segment. Financial statements for the year ended 31 December 1992 are presented. The Group companies' estimated net quantities of crude oil, natural gas and coal are given

The Brazilian Business World: the difficult adaptation to globalization

OpenAIRE

Arraes,Virgílio Caixeta

2010-01-01

The article deals with the internationalization of Brazilian businesses in the current decade. In the 1990s, Brazil embraced economic neoliberalism and promoted a huge opening up of its economy. At that time, Brazilian companies had to adapt rapidly. Twenty years later, the country has reinforced its presence in Latin America and has ensured a better position in the global markets, especially by through agricultural exports.

International HR Strategy of Brazilian Technology Multinationals

Directory of Open Access Journals (Sweden)

Patricia Morilha Muritiba

2010-10-01

Full Text Available Four cases of Brazilian Multinationals from the information technology [IT] sector were compared in their international Human Resources strategy. The analysis is focused on the development and application of two research models. One analyzes the level of subsidiary autonomy in terms of strategic HR decisions, including difficult decisions regarding coordination in multinationals, following the theoretical approach of the autonomy of subsidiaries (Kidger, 2002; Nohria & Ghoshal, 1997. The other is related to the level of internationalization of HR strategies, defined as the capacity to take advantage of globalization, providing the best resources for the company regardless of where they are located (Sparrow, 2007. Both models were applied in a multiple case study method (Eisenhardt, 1989. Data were collected through semi-structured interviews and company reports, and analyzed through content analysis. The results show: (a a more centralizing characteristic of the multinational companies examined, despite the limitations of this choice as shown by the literature; and (b that Brazilian IT multinationals tend to rely more on their national competencies when managing human resources instead of going global to aggregate differentiated competencies.

Morphological analysis of thermoplastic starch films and montmorillonite (TPS/MMT) using vegetable oils of Brazilian Cerrado as plasticizers

International Nuclear Information System (INIS)

Schlemmer, Daniela; Sales, Maria Jose A.; Angelica, Romulo S.; Gomes, Ana Cristina M.M.

2009-01-01

Biopolymers can be used where petrochemical plastics have applications with short life. The excellent degradation of starch and its low cost make it an alternative for obtaining biodegradable plastics. To obtain thermoplastic starch (TPS) is necessary mechanical shake, high temperature and plasticizers. In this work, TPS were produced using three different vegetable oils from Brazilian's cerrado as plasticizers: buriti, macauba or pequi. Materials are also produced with montmorillonite (MMT). All the materials were analyzed by scanning electronic microscopy (SEM) and X-ray diffraction (XRD). The starch micrographs revealed irregular delaminate with a predominance of starch and 'holes' for the oils. In nanocomposites the clusters of clay are dispersed without a defined standard. It was understood that the plasticizers and processing completely changed the structure of starch causing a decrease in their crystallinity degree. Almost all nanocomposites presented exfoliate structure, only one presented intercalated structure. (author)

Profile of phenolic compounds of Brazilian virgin olive oils by rapid resolution liquid chromatography coupled to electrospray ionisation time-of-flight mass spectrometry (RRLC-ESI-TOF-MS).

Science.gov (United States)

Ballus, Cristiano Augusto; Quirantes-Piné, Rosa; Bakhouche, Abdelhakim; da Silva, Luiz Fernando de Oliveira; de Oliveira, Adelson Francisco; Coutinho, Enilton Fick; da Croce, Dorli Mario; Segura-Carretero, Antonio; Godoy, Helena Teixeira

2015-03-01

In recent years, agronomical researchers began to cultivate several olive varieties in different regions of Brazil to produce virgin olive oil (VOO). Because there has been no reported data regarding the phenolic profile of the first Brazilian VOO, the aim of this work was to determine phenolic contents of these samples using rapid-resolution liquid chromatography coupled to electrospray ionisation time-of-flight mass spectrometry. 25 VOO samples from Arbequina, Koroneiki, Arbosana, Grappolo, Manzanilla, Coratina, Frantoio and MGS Mariense varieties from three different Brazilian states and two crops were analysed. It was possible to quantify 19 phenolic compounds belonging to different classes. The results indicated that Brazilian VOOs have high total phenolic content because the values were comparable with those from high-quality VOOs produced in other countries. VOOs from Coratina, Arbosana and Grappolo presented the highest total phenolic content. These data will be useful in the development and improvement of Brazilian VOO. Copyright © 2014 Elsevier Ltd. All rights reserved.

Financial Times oil and gas international year book 1994

International Nuclear Information System (INIS)

Williams, Julian

1993-01-01

The greater part of this book aims to provide narrative, production and financial details of major oil and gas companies, both upstream and downstream, across the world. Smaller sections give details on major oil and gas brokers and traders, and on the principal oil and gas associations. These sections are arranged alphabetically by company name. A geographical index towards the end of the book enables the user to identify upstream companies exploring for or producing oil and gas in particular areas. The company index includes every company mentioned in the book and includes all subsidiary and related companies to the major companies. Four introductory tables give data on world petroleum production, oil refining, tanker tonnage and oil consumption. (Author)

Business is business : China's petroleum companies come of age

International Nuclear Information System (INIS)

Gault, S.

2006-01-01

An overview of the Chinese oil and gas industry was presented. The Chinese oil and gas sector has undergone massive changes since the monolithic Chinese Ministry of Petroleum Industry (MPI) organized large-scale oil and gas projects in the form of massive campaigns during the revolutionary period. During the 1980s, the MPI was divided into 4 sectors: (1) the China National Petroleum Company (CNPC) which controlled exploration and production onshore; (2) the China National Offshore Oil Company; (3) Sinopec, which acquired control over refining processes; and (4) Sinochem, which was responsible for importing and exporting crude oil. Although many of the production units of these companies went public on the Shanghai and Shenzhen stock exchanges, the president of CNPC is still appointed by the State Council. China recognized that a fundamental overhaul of the industry would be necessary to withstand international competition after it applied for WTO membership in 2001. Various national oil companies were dismantled and core businesses were consolidated. Three vertically integrated oil companies emerged : PetroChina International; Sinopec; and CNOOOC Ltd. The Chinese government has maintained majority ownership in all cases, which has led to significant financial advantages for the 3 companies. The political imperative to maintain social stability has prevented China's government from lifting pricing controls on many refined products. A failed takeover bid of Unocal that failed has caused China to lose faith in America's commitment to free market principles. China began buying oil reserves in Alberta in 1992, and made a number of important acquisitions in 2005. China is now considering purchasing an equity stake in an oil sands project, but has had difficulties in finding Canadian partners. 1 fig

Petrochema looks for oil

International Nuclear Information System (INIS)

Beer, G.

2006-01-01

Petrochema Dubova has announced mass redundancies. The company managers, however, keep stressing that this does not mean the end of this Central Slovak refinery. Company management is searching intensely for low-sulphur oil that would help to bring back life to their fractionating column and start up production of light fuels and oils. The company has not used its equipment to produce products directly from oil for over two years. It used to specialise in the sale of oil products it purchased from other producers. About three months ago, the ownership of Petrochema changed once again. Petroinvest Bratislava became the new 100-percent owner of the company. It invested 35 mil. Sk (945-thousand EUR) in Petrochema's registered capital. The new owner has relations with people who used to cooperate with the Slovak investment group, Istrokapital. They bought Petrochema from the Czech company, Annectis. The new owners are talking about restructuring. 'We have not entered into any agreements on the purchase of oil as we did not know what the technical condition of the refinery was. Currently, we are looking for oil that meets the technological parameters of the technology used at Dubova,' said a member of the supervisory board of Petrochema, Miroslav Remeta. It is quite difficult to purchase oil for the company as the technology used for processing dates back to the first half of the last century. It requires low-sulphur oil with minimum paraffin content. In the past, the most suitable raw material used to come from Nafta Gbely. Later, the company started cooperation with Kazakhstan. 'We have to find a long-term partner to make the operation of the fractionating column profitable,' said M. Remeta. The company can process about 12-thousand tons a month. That is about 12 trainloads. In order to launch production it needs to have enough supply to cover for unreliable deliveries from unpredictable countries. 'Funds for the purchase of the oil are available from private sources

Integrating market share models with network optimizing models for strategic planning in an oil pipeline company

International Nuclear Information System (INIS)

Smith, L.D.; Moses, S.W.

1991-01-01

Mathematical models of market share are constructed to describe the distribution of petroleum products from pipeline terminals, water terminals and refineries in the midcontinental United States. Network distribution models are developed to analyse the constraints and economics of alternative distribution systems. This paper describes how the two types of models were integrated for strategic planning in an oil pipeline company

Research of Brazilian crude in pilot plant for base oil production; Pesquisa em planta piloto visando valorizar o cru nacional na producao de oleos lubrificantes

Energy Technology Data Exchange (ETDEWEB)

Fontes, Anita E.F.; Nogueira, Wlamir S.; Ximenes, Lelia M. de O. [PETROBRAS, Rio de Janeiro, RJ (Brazil). Centro de Pesquisas (CENPES); Santos, Claudio A.P. dos [Fundacao Gorceix, Ouro Preto, MG (Brazil)

2004-07-01

One of the biggest challenges for PETROBRAS is to find alternative crude oils to produce base oil and wax in its refinery. Duque de Caxias refinery has been using imported crude oil for 31 years living with constants threats to continuity because of the Persian Gulf conflicts. If we analyze the profitability of this business, we can verify that the lubes complex had contributed for the profitability by about 41,9% in 2002, even using imported crude oil. So, if we can incorporate a national crude oil in the actual refinery scheme, we would produce besides strategic gains better profitability for the base oil and wax unit. This paper describes a series of tests performed in the pilot plant, in which we produced base oils and wax using a mixture of imported crude with Brazilian crude oil. The base oils produced were classified as Group I with lower aromatic, Sulphur and basic Nitrogen content. Another great advantage of this alternative is that the light fractions obtained from distillation step can be used as feed to make fuels of better quality, due to the lower sulphur content, thus also reducing the environmental impact. (author)

Macroeconomic effects of oil price shocks in Brazil and in the United States

International Nuclear Information System (INIS)

Cavalcanti, Tiago; Jalles, João Tovar

2013-01-01

Highlights: ► We find that output growth volatility in the US has been decreasing over time. ► The contribution of oil price shocks to such volatility has also been decreasing. ► In Brazil, oil shocks do not seem to have a clear impact on growth. ► They account for a small fraction of the Brazilian inflation and output volatility. ► Counterfactuals show US output would be 10% less volatile with Brazil’s oil import share. - Abstract: This paper studies the effects of oil price shocks in the last 30 years on the Brazilian and American inflation rate and rhythm of economic activity. The Brazilian and the United States economies are interesting polar cases, since they had a completely different path on the oil import dependence rate. While the oil import dependence rate has increase sharply in the United States (US), it has decreased substantially in Brazil. We found that output growth volatility in the United States has been decreasing over time as well as the contribution of oil price shocks to such volatility, despite the increase in oil import dependence. Inflation volatility has also been decreasing but oil price shocks are accounting for a larger fraction of this volatility in the US. In Brazil, such shocks do not seem to have a clear impact on output growth and they account for a very small fraction of the Brazilian inflation and output growth rate volatility. We finally run some counterfactual experiments to analyze how real output growth in the United States would had been if net oil import share in the United States behaved similarly to what was observed in Brazil. We conclude that output level would be roughly the same, however, it would be about 10% less volatile if the US had the actual Brazilian oil import share

Liposomes incorporating essential oil of Brazilian cherry (Eugenia uniflora L.): characterization of aqueous dispersions and lyophilized formulations.

Science.gov (United States)

Yoshida, P A; Yokota, D; Foglio, M A; Rodrigues, R A F; Pinho, S C

2010-01-01

Multilamellar liposomes incorporating essential oil of Brazilian cherry (Eugenia uniflora L.) leaves were produced by dry film hydration. Gas chromatography demonstrated the compounds found in the essential oil were effectively incorporated in the aqueous dispersions of liposomes. Differential scanning calorimetry analyses revealed the incorporation of the essential oil did not cause phase separation in the membrane structure; the gel-liquid crystalline transition temperature (main transition) remained the same despite the higher heterogeneity indicated by the transition peak broadening. Different cryoprotectors (sucrose and trehalose) were added to the liposomal formulations to be tested in their ability to protect the liposomal structure during the lyophilization. The morphological aspect of the lyophilized powders analysed by scanning electron microscopy showed significant differences among the samples with and without cryoprotectors. Fourier-transform infrared spectroscopy indicated the cryoprotectors interacted effectively with the polar heads of phospholipids in the bilayer. In terms of water absorption, trehalose was identified as a much more effective protector agent against it than sucrose. The cryoprotectors showed different degrees of effectiveness of preservation of the liposomal structure when the rehydration assays of lyophilized liposomes were carried out, as particle size measurements indicated a moderate process of fusion when the formulations with sucrose were rehydrated.

Bioethanol production potential from Brazilian biodiesel co-products

Energy Technology Data Exchange (ETDEWEB)

Visser, Evan Michael; Filho, Delly Oliveira; Martins, Marcio Aredes [Departamento de Engenharia Agricola, Universidade Federal de Vicosa, Campus Universitario 36570-000 Vicosa, MG (Brazil); Steward, Brian L. [Department of Agricultural and Biosystems Engineering, Iowa State University, 214D Davidson Hall, Ames, IA 50011 (United States)

2011-01-15

One major problem facing the commercial production of cellulosic ethanol is the challenge of economically harvesting and transporting sufficient amounts of biomass as a feedstock at biorefinery plant scales. Oil extraction for biodiesel production, however, yields large quantities of biomass co-products rich in cellulose, sugar and starch, which in many cases may be sufficient to produce enough ethanol to meet the alcohol demands of the transesterification process. Soybean, castor bean, Jatropha curcas, palm kernel, sunflower and cottonseed were studied to determine ethanol production potential from cellulose found in the oil extraction co-products and also their capacity to meet transesterification alcohol demands. All crops studied were capable of producing enough ethanol for biodiesel production and, in the case of cottonseed, 470% of the transesterification demand could be met with cellulosic ethanol production from oil extraction co-products. Based on Brazilian yields of the crops studied, palm biomass has the highest potential ethanol yield of 108 m{sup 3} km{sup -2} followed by J. curcas with 40 m{sup 3} km{sup -2}. A total of 3.5 hm{sup 3} could be produced from Brazilian soybean oil extraction co-products. (author)

PETROBRAS: an energy company and the Brazilian Biofuels Program

Energy Technology Data Exchange (ETDEWEB)

Torres, Fernando Martins; Valle, Luiz Alberto Fernandes; Diehl Filho, Rubin Pedro [PETROBRAS University, Rio de de Janeiro, RJ (Brazil). School of Gas and Energy Science and Technology], e-mail: fernandotorres@com.br, e-mail: lavalle@petrobras.com.br, e-mail: rubin@petrobras.com.br

2008-07-01

Global warming and other climate changes have been occurring because of human activities, mainly the burning of fossil fuels. This releases greenhouse gases, chief among them carbon dioxide, into the atmosphere. Brazil's answer was to launch of the National Alcohol Program (Proalcool) in 1975, in response to the first oil shock (in 1973). This was intensified with the second oil shock (in 1979-80). Under this program, the gasoline used in the transportation segment was replaced by: anhydrous ethanol in vehicles manufactured to consume gasoline, up to a proportion of 25%; hydrated ethanol in vehicles especially manufactured to consume this renewable fuel. The impact of these efforts was extremely significant, as demonstrated by the the effects of the first and second oil shocks on the country's trade balance and balance of oil and derivatives in 1973-74 and 1979-80 can be clearly seen. At the time of the second shock, the increase in imports in the trade balance basically coincided with the increased imports of oil and refined products. (author)

Enterprise Oil gets going

International Nuclear Information System (INIS)

Ross, Priscilla.

1996-01-01

Enterprise Oil is a mature United Kingdom independent oil exploration and production company. In its early years, with the success of the Nelson platform in the North Sea, the company had been well rated by financial analysts in the City of London. Enterprise was floated as an independent company on the International Stock Exchange in London in 1984 having previously been part of the establishment being formed by the Government from the oil and production interests of British Gas on the UK Continental shelf. Relationships with the City suffered, however, as a result of the unsuccessful outcome of moves by the company to take over Lasmo, the only other UK independent oil company of comparable magnitude. Pedestrian financial results and poor exploration results led to Enterprise dividends being stuck in a rut from 1992 onwards. This report, however, shows how that situation is changing so that the company's share price has been reaching new highs. Enterprise has been adding quantitative value to the company through swaps, farm-in deals and licensed acquisitions and now has interests in core income producing areas in the UK, Norway, Denmark and Italy. (UK)

The structure of the natural gas industry in Brazil; A estrutura da industria de gas natural no Barsil

Energy Technology Data Exchange (ETDEWEB)

Augusto, Cristiane R.; Fontes, Cristiane M.; Andrade, Marcelo C.; Goncalves, Raquel G. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola de Quimica

2004-07-01

The opening of the Brazilian economy and the end of the state-owned oil company PETROBRAS monopoly made possible for national and international companies to become concessionaires of the rights and obligations regarding the exploration, development and production of oil and natural gas. The increasing of the oil reserves and production, together with the technological development and the more restricted environmental legislation, resulted in a gradual increased participation of the natural gas in the Brazilian domestic energy supply. Around 3% for many years, the participation of gas in the Brazilian domestic energy supply has increased to 7.5% in 2002, as mentioned in the 2003 Brazil Energy Balance (BEN). The 2003 production was more than 100 millions boe, and the import was more than 37 millions boe according to the National Oil Agency (ANP). We present in this article a summary of today's situation, and the consumer market full development limitations. (author)

Carotenoid composition in oils obtained from palm fruits from the Brazilian Amazon

Directory of Open Access Journals (Sweden)

Santos, M. F.G.

2015-09-01

Full Text Available The oils obtained from native palm fruits are considered new sources of high added value phytochemicals, making it necessary to know the composition of the less studied species in order to evaluate their economic potential. The objective of this study is to identify and quantify the arotenoids in palm fruit oils from the Brazilian Amazon: bacaba (Oenocarpus bacaba, buriti (Mauritia flexuosa, inajá (Maximiliana maripa, pupunha (Bactris gasipaes and tucumã (Astrocaryum vulgare, by means of liquid phase extraction and HPLC-UV-vis. analysis. The results showed an extremely variable carotenoid content, from 13 mg·kg−1 in bacaba oil to more than 1000 mg·kg−1 in the tucumã one. The oils obtained from buriti, pupunha and tucumã displayed high concentrations of ß-carotene, corresponding to fruits with the series ß, ß dominant metabolism. Upon analyzing the carotenoid profile in bacaba oil for the first time, an extraordinary dominance of the ß, ε pathway was observed, proving them to be oils with high lutein and α-carotene contents. Although the ß, ß pathway dominates in inajá oil, the exclusive and high lycopene content implies that LCY-E is barely active in these fruits, in contrast to what has been evidenced so far. It is therefore of the utmost importance to characterize these new potential sources of carotenoids.Los aceites obtenidos a partir de frutos de palmeras nativas son considerados nuevas fuentes de fitoquímicos con alto valor añadido siendo necesario conocer la composición de las especies menos exploradas para evaluar su potencial económico. El objetivo de este estudio es identificar y cuantificar los carotenoides en aceites defrutos de palmeras provenientes de la Amazonia Brasileña: bacaba (Oenocarpus bacaba, uriti (Mauritia flexuosa, inajá (Maximiliana maripa, pupunha (Bactris gasipaes y tucumã (Astrocaryum vulgare, mediante extracción líquido:líquido y análisis por HPLC UV-vis. Los resultados mostraron un

Essential Oils from Fruits with Different Colors and Leaves of Neomitranthes obscura (DC.) N. Silveira: An Endemic Species from Brazilian Atlantic Forest

Science.gov (United States)

Amaral, Raquel R.; Fernandes, Caio P.; Caramel, Otávio P.; Tietbohl, Luis A. C.; Santos, Marcelo G.; Carvalho, José C. T.; Rocha, Leandro

2013-01-01

Neomitranthes obscura (DC.) N. Silveira is an endemic plant of Brazilian Atlantic Forest and widely spread in the sandbanks of “Restinga de Jurubatiba” National Park. It is popularly known by local population as “camboim-de-cachorro” or “cambuí-preto” and recognized by its black ripe fruits. However, specimens with yellow ripe fruits were localized in the “Restinga de Jurubatiba” National Park. The aim of the present study was to evaluate chemical composition of essential oils obtained from leaves and fruits of N. obscura specimens with different fruit color (black and yellow) by GC and GC-MS. Essential oils from leaves of specimens with black and yellow fruits indicated a predominance of sesquiterpenes (81.1% and 84.8%, resp.). Meanwhile, essential oil from black fruits presented a predominance of monoterpenes (50.5%), while essential oil from yellow fruits had sesquiterpenes (39.9%) as major substances. Despite previous studies about this species, including essential oil extraction, to our knowledge this is the first report on N. obscura fruits with different colors. Our results suggest the occurrence of unless two different varieties for this species. PMID:23484148

Essential Oils from Fruits with Different Colors and Leaves of Neomitranthes obscura (DC. N. Silveira: An Endemic Species from Brazilian Atlantic Forest

Directory of Open Access Journals (Sweden)

Raquel R. Amaral

2013-01-01

Full Text Available Neomitranthes obscura (DC. N. Silveira is an endemic plant of Brazilian Atlantic Forest and widely spread in the sandbanks of “Restinga de Jurubatiba” National Park. It is popularly known by local population as “camboim-de-cachorro” or “cambuí-preto” and recognized by its black ripe fruits. However, specimens with yellow ripe fruits were localized in the “Restinga de Jurubatiba” National Park. The aim of the present study was to evaluate chemical composition of essential oils obtained from leaves and fruits of N. obscura specimens with different fruit color (black and yellow by GC and GC-MS. Essential oils from leaves of specimens with black and yellow fruits indicated a predominance of sesquiterpenes (81.1% and 84.8%, resp.. Meanwhile, essential oil from black fruits presented a predominance of monoterpenes (50.5%, while essential oil from yellow fruits had sesquiterpenes (39.9% as major substances. Despite previous studies about this species, including essential oil extraction, to our knowledge this is the first report on N. obscura fruits with different colors. Our results suggest the occurrence of unless two different varieties for this species.

Global brain storming : oil companies increasingly tap collective intelligence to overcome technology hurdles

Energy Technology Data Exchange (ETDEWEB)

Smith, M.

2009-04-15

This article described a novel exploration approach that Toronto-based Goldcorp Inc. took a decade ago when it placed its geological data on the web for a mass collaboration effort among the global community of geologists to identify potential drilling sites. The move resulted in the identification of 110 targets, of which half were entirely new to Goldcorp, and of which four in five struck considerable quantities of gold. The article emphasized that the computer network offers a power that has not yet been fully tapped. It described other companies that have followed suite in finding solutions to proprietary challenges, including Schlumberger, Deloro Resources Ltd., Electro-Petroleum Inc., and Proctor and Gamble Inc. among others. The Web 2.0, which serves as a platform for a range of applications, can also be used for open-source science or global brainstorming. While the idea of open innovation was a novelty a year or two ago, it has now become a necessity. InnoCentive solved a long-standing oil spill problem when a chemist from the web with no ties to the oil industry suggested a way to handle the spill. The Cordova, Alaska-based Oil Spill Recovery Institute has also sought solutions for oil spills and novel boom designs. It was concluded that at a time when research and development budgets in the petroleum industry are being cut, open innovation facilitators stand to benefit. This cross-industry collaboration does not involve geoscientists alone. Rather, it includes people from completely different fields of expertise, experience or education who can add to the real issues that the oil industry needs to address and change. 1 ref.

Company maturity models: Application to supplier development program in oil&gas sector

Directory of Open Access Journals (Sweden)

Jabier Retegi Albisua

2018-04-01

Full Text Available Purpose: In order to achieve excellence, outsourced maintenance contractors in Oil&Gas sector play a key role due to the important impact of their task on security, availability and energy consumption. This paper presents the process followed in order to implement a Supplier Development Program in a refinery using Company Maturity Model (CoMM and the results obtained in three cases validating the method to obtain a strategic improvement project medium term grid. Design/methodology/approach: The methodology followed consists of constructing a CoMM capturing the knowledge existing in the refinery and applying it with three supplier improvement teams. Findings and conclusions have arised through an observation of the three processes and extracting common conclusions. Findings: The resulting CoMM has been used for self-assessment by three suppliers and has demonstrated its potential to define a medium-term improvement project road map validated by the customer. Furthermore, during the design and application processes, the contribution of CoMMs to the SECI process of knowledge management has been observed. Practical implications: The use of CoMMs in a service contractor context can be applied in other sectors. It contributes to alignment of targets between the supplier and customer companies and to knowledge sharing inside both firms. Originality/value: Maturity models in many transversal fields (CMMI, EFQM, BPMM, PEMM, etc. have been thoroughly studied in the literature. Less effort has been made analysing the case of using maturity models constructed and implemented by a company for its specific purposes. In this paper, the process followed by a company to establish a Supplier Development Process using CoMMs is described.

Corporate governance structure which is based in the S&OP process: Case study in la Brazilian cosmetic company

Directory of Open Access Journals (Sweden)

Ximena Rojas

2014-03-01

Full Text Available (Received: 2014/01/31 - Accepted: 2014/03/25This article is about the generation of a corporate governance structure which is based in the process S&OP for a Brazilian cosmetic industry. The increasing emphasis on business development guided by attention to the requirements and demands of customers, cause nowadays, that the organizations of the commercial sectors work in the creation of a competitive differential. The collaborative business management strategy S&OP is looking for the attention of people who are interested in the improvement of their skills; in order to achieve this differential. With the case study methodology, the objectives are to get knowledge, identify, and analyze the characteristics of the company using analysis tools like SWOT, process analysis, value chain. All with the purpose to get a robust management tool that fits with the requirements and demands of the organization. The analyzed results showed that the principles of collaboration and internal communication were the pillars necessary against any attempt of business development. This supports the proposal of a management structure based on the five step S&OP process. As a complement to this study a methodology CPFR was identified as the platform for an integrated work with the rest of the companies of the supply chain.

Impact of Contingent Liabilities Reclassification on Financial Performance: An Analysis with Brazilian Companies of Electricity Utilities Sector

Directory of Open Access Journals (Sweden)

Carlos Henrique Silva do Carmo

2018-01-01

Full Text Available The main objective of this research is to verify the effect of a reconfiguration of contingent liabilities in the financial performance of Brazilian companies in the electricity sector in the years 2013 to 2015. The sample consisted of 53 companies and 153 financial statements were analyzed. The model used to reconfigure the contingent liabilities into provisions was developed by Rose (2014. The author classifies the reversal in 5 scenarios: Optimistic (20% Partially Optimistic (40%, moderate (60% Partially Pessimistic (80% and Pessimistic (100%. To represent the economic and financial performance we selected three indicators: General Liquidity (LG, General Indebtedness (EG and Return Over Assets (ROA. The results showed that for worst-case scenarios, there is a significant difference between the indicators calculated on the original data in comparison with those calculated within the reclassified scenarios. The Statistics D of Cohen (1988 pointed out that, in addition to statistically significant, in the worst scenarios, the size effect was also too high, especially for the ROA and the Indebtedness. For Liquidity the differences were not so significant. The findings of this research serve as a warning to users of financial statements and pointed out that they should be aware of the financial effect of different interpretations of the individuals involved in decisions about the likelihood of loss in provision and Contingent liabilities.

The oil market

International Nuclear Information System (INIS)

Amic, E.; Lautard, P.

1999-01-01

This chapter examines the structure of the oil industry and the impacts of the oil markets on the hedging strategies of the energy consumers, the oil company, and the energy derivatives' provider. An introduction to market perspectives is presented, and the hedging operations in the jet fuel market in the airline sector are discussed. Trading and risk management within an oil company, the derivatives provider, trading derivatives in a multi-dimensional world, locational risks, and the modelling of term structure and the role of storage are considered. Industrial spreads and the role of refining, future market developments and market strategies for crude oil and oil products, and marketing packages and market risk are addressed

The Necessity of a Graded Tariff System between Crude Oil and Oil Products

Energy Technology Data Exchange (ETDEWEB)

Kang, B.R. [SK Corporation, Seoul (Korea)

2002-06-01

Even though the graded tariff system between crude oil and oil products has been continuously insisted by oil refining companies since the export and import liberalization of 1997, and its necessity has been admitted by the government, press, and academia, the expanded implementation of the graded tariff system has not been yet realized. Some people says that the graded tariff system between crude oil and oil products is a kind of desperate plans, which oil refining companies suggests to stop the importing companies' rapid growth, so it will eventually restrict the competition of the domestic oil market due to the withering of importing companies. However, the graded tariff system between crude oil and oil products should have been enforced in 1997 as a complementary measure of the import liberalization like other industries or the advanced countries' cases. It is the basic tariff principle that the low tariff is levied on raw materials and the high tariff on final products in order to protect domestic industry. The remaining things are just to form the sympathy and to agree socially for the reorganization of tariff structure in the reasonable way. It is not desirable to make a fool mistake such as a proverb; t is too late to shut the stable door after the horse has bolted. owing to the unreasonable tariff system.

Study of brazilian franchises internationalization: challenges and barriers

Directory of Open Access Journals (Sweden)

Helena Loffredo da Rocha Leite

2014-06-01

Full Text Available The goal of this study was to analyze brazilian franchises internationalization through a case study, in order to identify the factors that influence internationalization, the adaptations of marketing strategies and main barriers and challenges of brazilian franchises internationalization. A qualitative exploratory research was developed through the case study method. The information was colected via observation and semi-structured interviews with managers in charge of international expansion of two companies. A comparative analysis between obtained data and the theoretical background was made. The results found showed that the studied companies expanded internationally due to external demands and the desire to explore new markets. Changes in marketing strategies were made in different degrees, and communication was the element that suffered greater changes. The main challenge of internationalization found, was to understand local culture and incorporate it into the company’s operations.

National companies : performance, ventures, utility

International Nuclear Information System (INIS)

Didier, F.

1994-01-01

The author shows how a performing National Company can efficiently contribute, in line with the producing State, to the negotiation with International Companies and the success of large oil ventures contemplated by reserves-short countries. Fully entrepreneurial, the National Company will usefully ''explore'' touchy matters, and bring closer national rationale and petroleum rationale. (Author)

75 FR 38805 - Central New York Oil and Gas Company, LLC; Notice of Intent To Prepare an Environmental...

Science.gov (United States)

2010-07-06

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. CP10-194-000] Central New York Oil and Gas Company, LLC; Notice of Intent To Prepare an Environmental Assessment for the Proposed North-South Project, Request for Comments on Environmental Issues, and Notice of Public Scoping Meeting and Onsite Environmental Reviews June 24,...

The Brazilian Business World: the difficult adaptation to globalization

OpenAIRE

Arraes, Virgílio Caixeta

2010-01-01

The article deals with the internationalization of Brazilian businesses in the current decade. In the 1990s, Brazil embraced economic neoliberalism and promoted a huge opening up of its economy. At that time, Brazilian companies had to adapt rapidly. Twenty years later, the country has reinforced its presence in Latin America and has ensured a better position in the global markets, especially by through agricultural exports. O artigo trata da internacionalização das empresas brasileiras na...

Location and allocation decision for supply chain network of Cajeput oil (Case in XYZ company)

Science.gov (United States)

Mahardika, F. A.; Hisjam, M.; Widodo, B.; Kurniawan, B.

2017-11-01

Cajeput oil is a very promising business. And now, the fulfillment of Cajeput oil in Indonesia is still lacking. It's because the rate of production Cajeput leaves in Indonesia is still low. In Indonesia, XYZ company manages forests in 7 regions. XYZ currently are developing Cajeput oil business. XYZ is currently doing business productivity improvement of Cajeput by planting Cajeput trees in Location 3, Sragen. Besides the Cajeput trees planting program, XYZ plan to do the construction distillery Cajeput leaves. The purpose of the research in this paper is to minimize the total cost of the supply chain network of Cajeput oil in XYZ and to determine whether the construction of a Cajeput distillery should be done or not. This paper uses mixed integer linear programming to make matemathical models. To minimize the total cost, used IBM® ILOG®CPLEX software. From IBM® ILOG®CPLEX software. From the calculation ILOG®CPLEX IBM® software can be seen that the minimum total cost would be obtained if XYZ opened a new distillery with a capacity of 25000kg and a new factory with a capacity of 10000kg. Besides all the truck owned can be used entirely at optimal capacity. And the total cost from IBM® ILOG®CPLEX is IDR 113,406,250.

Sudan: the human price of oil

International Nuclear Information System (INIS)

2000-01-01

This series of eight information bulletins by Amnesty International is intended to draw attention to the link between the massive human rights violations by the security forces of the Government of Sudan and various government-allied militia forces, and the oil operations by foreign companies (which include Canada's Talisman Energy, Denim Pipeline Construction Ltd., and Roll'n Oil Field Industries). The human rights violations cited by Amnesty International include atrocities and the forcible internal displacement of large populations of local people living in the oil fields and surrounding areas. It is alleged that the foreign oil companies involved in this lucrative operation expect the Sudanese government to provide a secure environment and protect oil company staff and assets, and turn a blind eye to human rights violations by the government security forces in the name of protecting the security of the oil-producing areas. In raising awareness of the problem, Amnesty International hopes to establish a dialogue with the foreign oil companies and sensitize them to their responsibilities to promote a better human rights environment in the areas where they are active in oil exploration and extraction. The information bulletins provide a background to the problem; detail the human rights violations committed in the name of oil; establish the link between oil, weapons purchases by the Sudanese government and human rights violations; describe the oil companies and their responsibilities and international standards on internal displacement of populations; and makes recommendations to the Government of Sudan, to the armed opposition groups, to the oil companies and to the international community at large to bring an end to the human rights violations that over the last three decades have cost tens of thousands of lives and displaced hundreds of thousands of people

Activity report 2006 - INB - Brazilian Nuclear Industries Inc

International Nuclear Information System (INIS)

2006-01-01

This document reports the activities of Brazilian Nuclear Industry company during 2006 as follows: uranium isotope enrichment; production of nuclear fuel; mineral resources; finance and administration; planning and sales; quality, safety and environment, communication and social action; economic and financial management

Original oilpatch; the biggest Canadian oil company laid its cornerstone in Sarnia 100 years ago

International Nuclear Information System (INIS)

Faulkner, P.

2000-01-01

The end of the 20. century also marked the occasion of 100 years of oil refining by Imperial Oil, the largest oil company in Canada. The first commercial oil well was dug at Oil Springs, near Petrolia in southwestern Ontario in the days when the only market for crude oil was kerosene for lamps and cooking. The original well today occupies the doorstep of the Oil Museum of Canada, which contains the records of the birth and growth of the industry which flourished long before anyone had dreamt of Leduc in Alberta, OPEC, or the myriads of petrochemical products, from nylon stockings and rubber tires to bubble bath and detergents, that are common place today. Documents at the Museum reveal that the first oil tanked for commercial sale came from a well at Oil Springs in 1858, a year ahead of the Titusville, Pennsylvania claim. By 1860 production reached a maximum of 800 barrels a day and Canada's first oilpatch was born. The original production equipment, primitive but durable, can be seen at the second local museum, the outdoor Discovery at Petrolia. Refining prior to the start of Imperial in 1880, was done by boiling down crude oil in cast iron vats to isolate kerosene, then the only byproduct of any use. At one stage, there were about 100 small refineries in southern Ontario. Sarnia became the centre of Canadian oil refining after Imperial was sold to the Rockefeller's Standard Oil of New York, who relocated it from Petrolia in 1898. With the arrival of the horseless carriage, gasoline had become a major byproduct. The refinery was rebuilt ; by 1927 it processed 15,500 barrels a day and manufactured 381 products, including vast numbers of candles. Today, plant capacity is up to 120,000 barrels a day. Although southwestern Ontario has long been overshadowed by Alberta as an oil producer, there are still some 600 active wells in the region, and a dozen entrepreneurs still ship about 60,000 barrels a year of southwest Ontario oil to Sarnia for refining. Imperial still

R&D and Innovation Management in the Brazilian Electricity Sector: the Regulatory Constraint

Directory of Open Access Journals (Sweden)

Denile Cominato Boer

2014-04-01

Full Text Available In 2000 it became mandatory to the Brazilian electricity companies to invest in research, development and innovation (RDI. These investments are performed by firms and regulated by the Brazilian Electricity Regulatory Agency (ANEEL. Since then companies have sought ways to cope with this obligation creating internal structures and managerial processes. This article presents the evolution of RDI management routines and organizational models based on a multiple-case study conducted between 2011 and 2012 with seven companies that represent about 27% of the total RDI investment performed in the period of 2008 to 2013. The research showed that firms created minimalist management and organizational structures to handle with the RDI enforcement. Companies have been much more concerned with the regulatory risk (the risk of non-accomplishment with the obligations than to any strategic use of RDI effort since the legal framework is based on punishment rather than in stimulus.

Subsea prizes : companies pushing the envelope offshore

Energy Technology Data Exchange (ETDEWEB)

Macedo, R.

2009-06-15

In order to make projects economic, companies are going farther offshore and deeper to find oil and gas or to use existing offshore platforms and longer horizontals. Companies such as StatoilHydro are reworking strategies on how to approach future oil finds. This article discussed examples of ultra deep and long horizontal oil finds such as Statoil's complicated but highly successful Gulltopp project. Although drilling ultra-deep wells or long horizontal wells is risky, they can also be very lucrative. The article also discussed McMoRan Exploration Company of New Orleans' high-risk deeper targets in the Gulf of Mexico and its exploration strategy. The longest well in the world, drilled by Maersk Oil Qatar AS was also described. The article noted that the Danish company reported that the entire horizontal section of the well was placed within a reservoir target which was only 20 feet thick. Schlumberger helped Maersk Oil Qatar break several records with extended reach drilling (ERD) offshore well. This well set 10 records, including the longest well ever drilled; longest along-hole departure; longest 8 and a half inch section; highest ERD ratio; highest directional drilling difficulty index; deepest directional control; deepest downlink, MWD transmission and LWD geosteering; deepest battery-less operation; longest reservoir contact; and longest open hole. Last, the article discussed an unsuccessful well drilled by Murphy Oil Corporation known as the Manhattan well. 8 figs.

Plans to revive oil fields in Venezuela on track

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports on the three operating units of Venezuela's state owned oil company Petroleos de Venezuela SA which will begin receiving bids Feb. 28 from companies interested in operating 55 inactive oil fields in nine producing areas of Venezuela. Francisco Pradas, Pdvsa executive in charge of the program, the the company expects 88 companies or combines of foreign and domestic private companies to participate in the bidding. The program, announced last year, aims to reactivate production in marginal oil fields. It will involve the first direct participation by private companies in Venezuela's oil production since nationalization in 1976

Benefit-Sharing Arrangements between Oil Companies and Indigenous People in Russian Northern Regions

Directory of Open Access Journals (Sweden)

Svetlana Tulaeva

2017-07-01

Full Text Available This research provides an insight into various modes of benefit-sharing agreements between oil and gas companies and indigenous people in Russia’s northern regions, e.g., paternalism, corporate social responsibility, and partnership. The paper examines factors that influence benefit-sharing arrangements, such as regional specifics, dependency on international investors, corporate policies, and the level of local community organization. It analyses which instruments of benefit-sharing are most favourable, and why, for indigenous communities. The authors conducted research in three regions of Russia (Nenets Autonomous Okrug; Khanty-Mansi Autonomous Okrug, and Sakhalin by using qualitative methodology that involved semi-structured interviews, participant observation, and document analysis. Theoretically, the paper builds on the concept of benefit-sharing arrangements combined with the social equity framework. We assessed each case study in terms of procedural and distributive equity in benefit-sharing. The paper demonstrates that the procedural equity is the highest in the partnership mode of benefit-sharing on the island of Sakhalin where companies implement globally-accepted standards recognized by investment banks. The cases in Nenets Autonomous Okrug and Khanti Mansi Autonomous Okrug represent a reset of Soviet practices on a market basis, but whereas the distributional equity may be sufficient, the procedural equity is low as decisions are made by the company in concord with regional authorities.

Legal aspects of data and information used in oil and gas exploration and production; O regime juridico dos dados e informacoes de exploracao e producao de petroleo e gas natural

Energy Technology Data Exchange (ETDEWEB)

Bucheb, Jose Alberto [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2004-07-01

The utilization of data and information related to the Brazilian sedimentary basins constitutes an essential element in any petroleum exploration and production venture, as well as in the technical and scientific works of this area of study and, for this reason, this technical asset, according to article 22 of the Petroleum Law, is considered part of the national petroleum resources, to be collected, maintained, and administered by the ANP. This issue is also regulated in other articles of the Petroleum Law, the ANP tender protocols, the concession contracts and the ANP ordinances no. 188/1998 and n. 114/2000. In this context, the evolution of the pertinent legal instruments is discussed, aiming at the analysis of the existing conflicts of rules, the rights and obligations of the regulatory agency, the petroleum companies, the service companies and the technical and scientific community. Some aspects of the international oil industry practices are also analyzed vis-a-vis the Brazilian Law. (author)

Genesis of the Brazilian nuclear power plants program

International Nuclear Information System (INIS)

Syllus, G.; Lepecki, W.

1996-01-01

The genesis of the Brazilian Nuclear Power Program is described by the authors - who participated in the events - from the beginning of the sixties, until the definition and the start of the implementation in 1975 of the Reference Nuclear Power Program. A description is made of the main events, studies and decisions that contributed to the evolution of the Program: the GTRP (Nuclear Power Plant Working Group); the Thorium Group; the Lane Group; the decision about Angra 1; CNEN's analyses about the reactor line and, finally, the creation of CBTN (Nuclear Technology Brazilian Company), which elaborated the studies that resulted in the final definition of the Program and led to the Brazilian German Agreement and the establishment of NUCLEBRAS. (author)

Valuation of investment projects by an international oil company: a new proof of a straightforward, rigorous method

International Nuclear Information System (INIS)

Pierru, A.; Babusiaux, D.

2009-02-01

The problem studied is that of valuing investment projects of an international oil company subject to tax schemes that vary from one country to another. The existing disparities in the tax treatment of interest paid can lead the firm to seek an optimal allocation of its debt capacity among the various projects. In this context, the generalized ATWACC (After-Tax Weighted Average Cost of Capital) method presents numerous advantages over standard methods and is particularly well suited to the valuation of oil-field development projects where debt financing differs from the amount that would correspond to the debt ratio targeted by the firm at the corporate scale. In this paper, we discuss adapting the generalized ATWACC method to the specificities of the oil industry and offer new proof of its validity, based on a model that maximizes, under constraints, the firm's equity value. (authors)

The oil's comeback in the wake of the third oil shock - Class of enterprises and strategic group in the oil industry

International Nuclear Information System (INIS)

Greggio, R.; Maffei, B.

2015-01-01

The oil industry has been characterized for several decades by a deep-rooted paradox. The western multinational companies have been denied access to the most profitable oil-fields as a result of their nationalization which occurred mainly during the seventies: they extract nowadays only a small part of the world's oil. Yet, they have consolidated their financial, technological and strategic leadership, whereas oil companies from emerging countries do not have the same unrestricted freedom of action. As there has been no substantial change in the oil business hierarchy, oil companies should be presented as actually forming 'classes of enterprises' rather than be construed as 'strategic groups'. In other words, they constitute sets of relatively autonomous entities, which may sometimes conflict and also cooperate with each other, but whose strategies are excessively determined by geopolitical and industrial constraints which cannot be easily overcome. (authors)

Aspects of the partnerships in the oil industry: remarks on dispute resolution provisions in the Join Operation Agreements-JOA; Aspectos das parcerias na industria do petroleo: consideracoes sobre a solucao de controversias no 'Joint Operating Agreement-JOA'

Energy Technology Data Exchange (ETDEWEB)

Carvalho, Romulo Soares Brillo de [Leite, Tosto e Barros Advogados Associados, Sao Paulo, SP (Brazil)

2008-07-01

This essay intends to analyze some aspects of Article 18 of the Joint Operating Agreement model form, drafted by the Association of International Petroleum Negotiators (AIPN) and largely used by members of the international oil and gas industry, including Brazil. We will go through the suggested wording for the arbitration clause, electing arbitration as the dispute resolution mechanism, and the waiver of sovereign immunity by the parties to the agreement. We will proceed with the review of such provisions of the model form clause under Brazilian law, commenting on the lectures provided by legal authors and by the courts of Brazil on the matter. Afterwards, we will briefly analyze the case of Petroleo Brasileiro S.A. - PETROBRAS, the Brazilian state owned oil company, regarding the said subjects. Finally, upon completion of our review, we stress that the current Brazilian scenario is quite favorable to arbitration, which is accompanied by the rise of the notion of flexibility of the sovereign immunity standard, not applicable to cases of 'ius gestionis' acts carried out by subdivisions of the state. (author)

75 FR 63462 - Central New York Oil and Gas Company, LLC; Notice of Intent To Prepare an Environmental...

Science.gov (United States)

2010-10-15

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. CP10-480-000] Central New York Oil and Gas Company, LLC; Notice of Intent To Prepare an Environmental Assessment for the Proposed MARC I Hub Line Project and Request for Comments on Environmental Issues, and Notice of Public Scoping Meeting and Onsite Review September 22, 2010...

Relationships between state owned enterprises and western oil companies : from contracts to cooperation

International Nuclear Information System (INIS)

Bourgeois, B.

1994-01-01

The ''cooperation'' term has become one of the most ambiguous in everyday life. A first step is to make a distinction between simple contractual agreements and more demanding cooperation relationships. On the history of relations between state owned enterprises and western oil companies, that leads us to the three following periods : 1) from 1970 to 1985 contractual agreements are defined under the nationalization requirements, 2) from 1982 to 1994 new contracts are tested, 3) in the end of the 1990's decade perspectives and stakes of cooperation are discussed in a world of a commercial growing interdependence. (Author). 23 refs., 1 fig., 4 tabs

Heavy oils clean up

International Nuclear Information System (INIS)

Collitt, R.

1997-01-01

High production, transport and refining costs have long led oil companies to shun heavy crude oils. Advances in the technology of upgrading heavy oils, however, are likely to reduce transport costs and improve the refinery output. Research and development by Venezuela's state oil company, Petroleos de Venezuela (PDVSA), has resulted in a process called Aquaconversion which permits the upgrading of heavy crude oils using a catalyst and the hydrogen from steam. This may be carried out at the wellhead in small low-pressure and relatively inexpensive units. In addition, higher distillate yields of higher value could be produced by revamping the thermal cracking units of refineries to incorporate the new technology. This has generated considerable interest in Venezuela's large extra-heavy crude oil reserves and has led multinational oil companies along with PDVSA to pledge $17 billion to their development. Even at a $2 to $3 per barrel upgrading cost, Venezuela's extra heavy crudes are competitive with lighter oils from other countries. Other major markets for the new technology are likely to be China and Russia, given their own large heavy crude reserves. (UK)

The carbon footprint of exported Brazilian yellow melon

NARCIS (Netherlands)

Brito de Figueirêdo, M.C.; Kroeze, C.; Potting, J.; Silva Barros, da V.; Sousa de Aragão, A.; Sonsol Gondim, R.; Boer, de I.J.M.

2013-01-01

The carbon footprint of food has become important for producers worldwide as consumers and retail companies increasingly base their purchase decisions on carbon footprint labels. In this context, our objectives is to assess the carbon footprint (CF) of Brazilian yellow melon exported from the Low

Accounting choices in Brazil: identifying the characteristics of publicly traded companies that opted to maintain versus derecognise deferred assets

Directory of Open Access Journals (Sweden)

Fernando Drago Lorencini

2012-04-01

Full Text Available The issuance of Brazilian Law 11.638/2007 is a critical step in the convergence of the Brazilian Generally Accepted Accounting Principles (GAAPs towards International Financial Reporting Standards. After the law was implemented and later modified by Provisional Executive Order 449/2008 (converted into Law 11.941/2009, certain accounting choices were allowed during the transition period. The Brazilian GAAPs allowed for restructuring costs and costs related to opening a new facility to be recognised as assets. As a transitional provision, companies were allowed to choose between maintaining or eliminating these values. In this paper, we attempted to identify which company characteristics were associated with this accounting choice. The final sample consisted of Brazilian companies listed on the BM & FBOVESPA, and a logistic regression identified two characteristics. Participation in one of the three different corporate governance levels of the BM & FBOVESPA was associated with the choice to derecognise the deferred assets, while companies decided to maintain the deferred asset if it was relatively large. The empirical evidence reported here contributes to the literature by explaining the manner in which a set of firm characteristics is related to a firm's accounting choices.

Corporate Social Responsibility in the Angolan Oil Industry

OpenAIRE

Arne Wiig

2005-01-01

What are the responsibility of oil companies in resource rich countries? Do they take these responsibilities? Based on a utilitarian perspective and theories of the resource curse, we discuss the oil companies' corporate social responsibility (CSR) when a resource rich country such as Angola lacks accountable public institutions. We also analyse the type of responsibility oil companies take and factors driving corporate social responsibility. From undertaking a survey among oil service firms ...

High oil prices: A non-OPEC capacity game

International Nuclear Information System (INIS)

Osmundsen, Petter; Asche, Frank; Misund, Baard; Mohn, Klaus

2005-08-01

The current high oil price is partly due to low investments in the oil industry the last decade. According to economic theory, exploration and development of new oil and gas fields should respond positively to increasing petroleum prices. But since the late 1990s, financial analysts have focused strongly on short-term accounting return measures, like RoACE, for benchmarking and valuation of international oil and gas companies. Consequently, the demand for strict capital discipline among oil and gas companies may have reduced their willingness to invest for future reserves and production growth. Thus, we have experienced an unusual combination of high oil prices and low investment levels in exploration and development. In many ways, the oil companies' focus on RoACE, at the expense of reserve replacement, resembles an implicit co-ordination on low capacity among non-OPEC petroleum producers. This is a partial explanation of the current high oil prices. By examining actual parameters used by the financial markets in pricing of oil companies, we address the issue of whether the low investment outcome could represent a long-term equilibrium. This is hardly likely, as oil companies are made aware that stronger emphasis is put on reserve replacement. (Author)

DETERMINANTS OF VOLUNTARY DISCLOSURE: A Study in the Brazilian Banking Sector

Directory of Open Access Journals (Sweden)

Lianny Maria Forte

2015-04-01

Full Text Available Disclosure theory assumes the wide availability of information to users, increasing the level of corporate transparency and reducing information asymmetry common to the business environment. This research aims to investigate the factors influencing the level of voluntary disclosure by companies in the Brazilian banking sector. Corporate reputation (REP, firm size (TAM, performance (DES, and internationalization (ADR were the variables used as factors influencing the level of disclosure. The sample was composed of the 100 largest Brazilian banks in relation to total assets in 2012. The methodology technique used multiple linear regression. The evidence revealed that the corporate reputation and the size of the companies had a significant and positive relationship with the level of voluntary disclosure. In this sense, the larger the company and higher the standard of corporate reputation, the higher the level of corporate disclosure. Performance and internationalization were not statistically significant.

The state of art of contingency and emergency plans for oil spill in the Brazilian ports and terminals; O estado da arte dos planos de emergencia e contingencia para derramamento de oleo nos portos e terminais brasileiros

Energy Technology Data Exchange (ETDEWEB)

Barros, Sergio R.; Wasserman, Julio C.; Lima, Gilson B.A. [Universidade Federal Fluminense (UFF), Niteroi, RJ (Brazil)

2008-07-01

Brazilian legislation establishes that the potentially polluting activities, as is the case of the ports and terminals, possess plans of emergency for spilling in order to prevent impacts to the physical, socio cultural and of the work environment. The Federal Law n. 9966, of April 2000, known as the 'Law of the Oil' established the basic principles, to be obeyed for the companies, for harmful or dangerous oil movement and other substances in ports, terminals, platforms and ships in waters under national jurisdiction. The Law defines that the emergency plans are a set of measures that determine the responsibilities and the actions to be unchained after an incident immediately, as well as define the human resources, material and adequate equipment to the prevention, has controlled and combat to the pollution of waters. The CONAMA n. 398, of June of 2008, create a standardization of those procedures, so that there is an integration among the several emergency plans in a certain area. This article has for objective to accomplish a diagnosis in the several institutional programs of emergency to identify the current situation in the organized and terminal ports specialized in liquid barns, evaluating, when possible, it rationality of support logistic, the organization of operational administration and integration. (author)

The state of art of contingency and emergency plans for oil spill in the Brazilian ports and terminals; O estado da arte dos planos de emergencia e contingencia para derramamento de oleo nos portos e terminais brasileiros

Energy Technology Data Exchange (ETDEWEB)

Barros, Sergio R; Wasserman, Julio C; Lima, Gilson B.A. [Universidade Federal Fluminense (UFF), Niteroi, RJ (Brazil)

2008-07-01

Brazilian legislation establishes that the potentially polluting activities, as is the case of the ports and terminals, possess plans of emergency for spilling in order to prevent impacts to the physical, socio cultural and of the work environment. The Federal Law n. 9966, of April 2000, known as the 'Law of the Oil' established the basic principles, to be obeyed for the companies, for harmful or dangerous oil movement and other substances in ports, terminals, platforms and ships in waters under national jurisdiction. The Law defines that the emergency plans are a set of measures that determine the responsibilities and the actions to be unchained after an incident immediately, as well as define the human resources, material and adequate equipment to the prevention, has controlled and combat to the pollution of waters. The CONAMA n. 398, of June of 2008, create a standardization of those procedures, so that there is an integration among the several emergency plans in a certain area. This article has for objective to accomplish a diagnosis in the several institutional programs of emergency to identify the current situation in the organized and terminal ports specialized in liquid barns, evaluating, when possible, it rationality of support logistic, the organization of operational administration and integration. (author)

Oil integration

International Nuclear Information System (INIS)

Carta Petrolera

1997-01-01

Colombia, Mexico and Venezuela agree in to have a bigger exchange of information, technology and experiences in areas of mutual interest that allow in the future, combined developments of the hydrocarbons industry. In such a sense, ECOPETROL narrowed its relationships with the two powerful Latin American oil enterprises, when suiting in Bogota agreements of mutual collaboration with representatives of the respective state companies. To begin, the company signed a cooperation agreement with Petroleos de Venezuela S.A (PDVSA), with the purpose of to narrow the relationships between the two companies and to undertake combined actions in those matters of the oil and petrochemical industry of mutual interest

Oil: Economics and politics

International Nuclear Information System (INIS)

Ayoub, A.

1994-01-01

A review is presented of the evolution of the international petroleum sector since 1973 with a special emphasis on the interdependence between the economic and political factors that influence it. Two issues are focused on: the effects of the nationalization of oil companies on the sharing of oil rents and on changes in the structure of the oil market; and the determination of oil prices. Definitions are presented of oil rents, and the reasons for OPEC nationalization of oil companies are explored. The effects of nationalization on market structures, expansion of free markets, and vertical integration are discussed. The existence of an oil price floor and the reasons for such a floor are examined. It is shown that nationalization induced an internalization of rents by the producing countries, leading to the emergence of a differential rent supported by the politics of the industrialized countries. Nationalization led to the breakup of systems of vertical and horizontal integration, with replacement by a new dual structure with OPEC controlling the upstream activities of the oil sector and oil companies controlling the downstream ones. Prices move between a floor price set by the costs of substitute deposits in the U.S., while the determination of ceiling levels by OPEC rests on successive fragile compromises. Overall oil is still a strategic product, despite the existence of spot markets, forward trading options, etc. 29 refs

Global power and Brazilian nuclear decisions

Energy Technology Data Exchange (ETDEWEB)

Metri, Paulo, E-mail: pmetri@terra.com.br [Clube de Engenharia, Rio de Janeiro, RJ (Brazil)

2017-07-01

Brazilian society declares no intention to development a nuclear artifact. This is on its Constitution. The submarine of nuclear propulsion may be used as a weapon of defense and, therefore, has a peaceful objective. Nationalism must be applied only to benefit the society. Nationalist attention has always been devoted, at various occasions, to the Brazilian nuclear sector. However, since Brazilian society has many needs and the Brazilian government always had numerous energy options, this sector has not been developed as it could be. Other successful applications of nuclear technology, besides electric generation, are not considered here. At present, the country is experiencing a moment of harassment of liberal forces. It is difficult to know if the population understands what is going on, due to the traditional media control. This media belongs to the capital. The rise and the fall of the nationalist strand in a country follow a global tendency and also depend of actions of the international capital. In nationalist periods, more decisions with positive social impact are taken. Therefore, sovereignty is necessary to increase the benefits to society. Unfortunately, the Brazilians deceived by the companies of mass communication and corrupt political leaderships allow the country to be dominated. Even the armed forces had their projects paralyzed. The nuclear sector, as all other, suffers with the low budget and the future is difficult to predict. (author)

Global power and Brazilian nuclear decisions

International Nuclear Information System (INIS)

Metri, Paulo

2017-01-01

Brazilian society declares no intention to development a nuclear artifact. This is on its Constitution. The submarine of nuclear propulsion may be used as a weapon of defense and, therefore, has a peaceful objective. Nationalism must be applied only to benefit the society. Nationalist attention has always been devoted, at various occasions, to the Brazilian nuclear sector. However, since Brazilian society has many needs and the Brazilian government always had numerous energy options, this sector has not been developed as it could be. Other successful applications of nuclear technology, besides electric generation, are not considered here. At present, the country is experiencing a moment of harassment of liberal forces. It is difficult to know if the population understands what is going on, due to the traditional media control. This media belongs to the capital. The rise and the fall of the nationalist strand in a country follow a global tendency and also depend of actions of the international capital. In nationalist periods, more decisions with positive social impact are taken. Therefore, sovereignty is necessary to increase the benefits to society. Unfortunately, the Brazilians deceived by the companies of mass communication and corrupt political leaderships allow the country to be dominated. Even the armed forces had their projects paralyzed. The nuclear sector, as all other, suffers with the low budget and the future is difficult to predict. (author)

The Management of the Competitive Differentiation of Companies that Supply Electromechanical Equipments for the Oil Industry

Directory of Open Access Journals (Sweden)

I. C. Rada

2009-05-01

Full Text Available Let us assume that the supplier ofelectromechanical devices for the oil industry hasalready selected its target market. When it is the onlysupplier for that market, it will be able to sell at a pricethat would bring it considerable profit. If the price istoo high and there are no entering barriers forcompetitors, the latter will penetrate the market andcause a lowering of the prices for theelectromechanical devices. When the same market isprovided by companies that produce non-differentiateddevices, buyers will choose the company that sells atthe lowest price. Consequently, the other companieswill have to lower the price as well. The onlyalternative for the supplier oil electromechanicaldevices is to differentiate its offer. If this action issuccessful, it will be able to practice a higher price,due to the superior quality that is being offered. Thereare four ways of defining an offer: the agent that sellsoil products can create value by offering products thatare [1]:- Better - the offer can better satisfy the needs ofcustomers than that of competitors, whichusually involves at least a minimumimprovement of the electromechanical device:- Newer – providing a solution that does not existso far, which implies a higher risk than in thesituation mentioned above, but can bring ahigher profit- Faster - the delivery time for anelectromechanical device is reduced- Cheaper – the product is identical with thatoffered by competitors, but the price is lower

EXPORT INCENTIVE PROGRAMS: A STUDY ABOUT BRAZILIAN SME’S FROM SANTA CATARINA STATE

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Izabel Regina de Souza

2012-01-01

Full Text Available The reality of the Brazilian economy during the last decade has influenced many companies to get new markets to expand to other parameters of competition. The export incentive programs created by the government, is an example of this, and he has performed positively, strengthening the relationship of resources and capacity to develop sales strategies and relationships with the external market. With the use of financial incentive programs for export, companies can enjoy the competitiveness and advantages related to cost of goods or services, and thus help them achieve a satisfactory goal with the export activity. Careful to promote exports, the Brazilian government creates lines of financial incentives that can meet the needs of Brazilian companies. These floor plane are known as advances on exchange contracts (ACC, Advances on foreign exchange delivered (ACE, Program for Export – (Proex among others. Santa Catarina has been active in the export process of the country, accounting for significant numbers for the trade balance. The target of this study is to understand the reactions of the business of Santa Catarina in the use of financial incentives for export. The research method adopted, as to the purposes of research, the research was exploratory and the means of investigation was a qualitative field research through interviews. The results showed that the reasons these companies entering in the international market, have been opening new markets, new business opportunities and increase the export volume. Financial incentives are most commonly used by companies to Advance on Export Contracts (ACC and Advances on Foreign Exchange Delivered (ACE.

Corporate Social Responsibility or Government Regulation? Evidence on Oil Spill Prevention

Directory of Open Access Journals (Sweden)

Jedrzej G. Frynas

2012-12-01

Full Text Available Major oil spills normally occur from oil pipelines and oil tankers that are under operational control of companies, namely, oil companies and tanker owners. There are two generic responses for changing the behavior of companies with regard to oil spill prevention: mandatory government regulation or voluntary initiatives often pursued under the banner of Corporate Social Responsibility (CSR. Here we investigate to what extent voluntary CSR initiatives can be effective in oil spill prevention. A global perspective on voluntary mechanisms is taken by looking at the progress of 20 oil and gas firms from around the world toward oil spill prevention, using the companies' 2010 sustainability reports for self-reported oil spill information. The analysis includes ten oil companies from OECD countries (including Exxon and Shell, among others and 10 oil companies from non-OECD countries (including Brazil's Petrobras and Indian Oil, among others. The study finds that oil spill prevention has generally improved over recent decades. Government regulation played a significant part in these improvements whereas it is less clear to what extent CSR played a significant part in these improvements. Some of CSR's key limitations are highlighted. It is not suggested that CSR should be abandoned; however, new hybrid forms of regulation that combine voluntary and mandatory elements are advocated.

Oil industry. A hard after-party

International Nuclear Information System (INIS)

Remoue, A.

2009-01-01

Since the beginning of the year 2009, the oil barrel price stagnates again at a three-time lower level than 8 months ago, compelling the oil companies to change their project schedule, and the para-petroleum industry to reduce its costs. The economic impact is more important for national companies than for oil majors. However, cost saving are implemented by all to save their margin. The first impact concerns the para-petroleum companies which will have to adapt their tariffs to the new situation. When the economy will start up again there is strong probabilities that the oil demand will decline thanks to changes in consumers' behaviors. (J.S.)

Effects of Security and Privacy Concerns on using of Cloud Services in Energy Industry, an Oil and Gas Company: A Case Study

OpenAIRE

Alireza Poorebrahimi; Fatemeh SoleimaniRoozbahani

2015-01-01

The topic of ‘‘the cloud’’ has attracted significant attention throughout the past few years. It allows resource sharing that includes software, platform and infrastructure by means of virtualization. Cloud Adoption in Oil & Gas companies have approached cloud with caution, but they are increasingly deploying cloud services. Energy companies have carefully weighed whether they should opt for a public cloud versus a private one, and which applications are fit for deployment via the cloud. For ...

A procedure to improve the information flow in the assessment of discoveries of oil and gas resources in the Brazilian context

Energy Technology Data Exchange (ETDEWEB)

Rosa, Henrique; Suslick, Saul B.; Sousa, Sergio H.G. de [Universidade Estadual de Campinas, SP (Brazil). Inst. of Geosciences; Castro, Jonas Q. [ANP - Brazilian National Petroleum Agency, Rio de Janeiro, RJ (Brazil)

2004-07-01

This paper is focused on the elaboration of a standardization model for the existing flow of information between the Petroleum National Agency (ANP) and the concessionaire companies in the event of the discovery of any potentially commercial hydrocarbon resources inside their concession areas. The method proposed by Rosa (2003) included the analysis of a small sample of Oil and Gas Discovery Assessment Plans (PADs), elaborated by companies that operate in exploratory blocks in Brazil, under the regulatory context introduced by the Petroleum Law (Law 9478, August, 6th, 1997). The analysis of these documents made it possible to identify and target the problems originated from the lack of standardization. The results obtained facilitated the development of a model that helps the creation process of Oil and Gas Discovery Assessment Plans. It turns out that the standardization procedures suggested provide considerable advantages while speeding up several technical and regulatory steps. A software called 'ePADs' was developed to consolidate the automation of the several steps in the model for the standardization of the Oil and Gas Discovery Assessment Plans. A preliminary version has been tested with several different types of discoveries indicating a good performance by complying with all regulatory aspects and operational requirements. (author)

PERFORMANCE IN CROSS-BORDER MERGERS AND ACQUISITIONS: AN EMPIRICAL ANALYSIS OF THE BRAZILIAN CASE

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Adriana Bruscato Bortoluzzo

2014-10-01

Full Text Available The purpose of this article is to investigate whether the cross-border acquisitions made by Brazilian companies over the past 15 years have improved their financial performance. Drawing on institutional, sociocultural, and organizational learning theories, this study develops and empirically tests several hypotheses on the determinants of M&A performance. The results demonstrate that the cross-border acquisition moves by Brazilian companies actually improve their financial performance. Financial performance tends to be positive when the cultural distance between the countries of the acquiring and acquired companies is low to medium and when the institutional context of the acquired company is a developed one. We also found an inverted-U shape relationship between acquiring companies’ previous international M&A experience and the performance of a new cross-border operation. These findings suggest that research on international M&As should include acquirers’ M&A experience as well as the institutional characteristics of their target countries.

Internet: a key element in the communication of the environmental performance of the oil and gas companies; Internet: elemento chave na comunicacao da performance ambiental de empresas de oleo e gas

Energy Technology Data Exchange (ETDEWEB)

Andrade, Margareth Costa [PETROBRAS/LUBNOR, Fortaleza, CE (Brazil)]. E-mail: margarethandrade@petrobras.com.br; Abreu, Monica Cavalcanti Sa de [Universidade Federal do Ceara, Fortaleza, CE (Brazil). Pro-Reitoria de Pesquisa e Pos-graduacao]. E-mail: mabreu@ufc.br

2003-07-01

A new way of behavior called the Triple Bottom Line has emerged as a consequence of the convergence of the economical, environmental and social dimensions in the strategic planning of the companies. Transparency has being presented as one of the seven revolutions established by the Triple Bottom Line and has being driven by information technology from television satellites and Internet. Nowadays, the oil and gas companies are subjected to changes of values and ideologies of society and to pressures that come from outside of the organization and influence their performance in the market. In another point of viewing, the huge availability of information allows a comparison by benchmarking and the buildup of a performance ranking among companies. This way, the flux of information activates management tasks. This work studies the transparency level of the biggest oil and gas companies by analyzing information available in their home pages. Some aspects of behavior related to environmental performance and how they answer to the demands of the society are analyzed. The main conclusion of this study is that Internet has become a key element in the communication of the environmental performance of the oil and gas companies. (author)

Demand for Life Annuities: a Brazilian Perspective

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Thalita Amorim Vaz

2012-10-01

Full Text Available Because pension plans have been marketed using outdated technical premises, Brazilian insurance companies find themselves required to identify additional resources to ensure their ability to meet future benefit payments obligations. When calculating the additional amount of this provision, the parameters used are: mortality and disability decrements, the structure of interest rates, financial performance, cancellation fees and conversion rates. The aim of this study is to present the estimation of conversion rates based on a Probit Model. The data for this study was obtained through the transfer of restricted data from the portfolio of a company with relevant activity in the Brazilian insurance market, including a group of 14,511 individuals eligible for retirement in the period between January 1, 2005 and December 31, 2009. The resulting analysis of the data allows us to conclude that two factors — the volume of accumulated reserves and the classification of prices as actuarially fair —increase the propensity of an individual to convert resources upon retirement. In turn, retirement age and the need for liquidity reduce the propensity to convert resources upon retirement.

A method for calculating a land-use change carbon footprint (LUC-CFP) for agricultural commodities - applications to Brazilian beef and soy, Indonesian palm oil.

Science.gov (United States)

Persson, U Martin; Henders, Sabine; Cederberg, Christel

2014-11-01

The world's agricultural system has come under increasing scrutiny recently as an important driver of global climate change, creating a demand for indicators that estimate the climatic impacts of agricultural commodities. Such carbon footprints, however, have in most cases excluded emissions from land-use change and the proposed methodologies for including this significant emissions source suffer from different shortcomings. Here, we propose a new methodology for calculating land-use change carbon footprints for agricultural commodities and illustrate this methodology by applying it to three of the most prominent agricultural commodities driving tropical deforestation: Brazilian beef and soybeans, and Indonesian palm oil. We estimate land-use change carbon footprints in 2010 to be 66 tCO2 /t meat (carcass weight) for Brazilian beef, 0.89 tCO2 /t for Brazilian soybeans, and 7.5 tCO2 /t for Indonesian palm oil, using a 10 year amortization period. The main advantage of the proposed methodology is its flexibility: it can be applied in a tiered approach, using detailed data where it is available while still allowing for estimation of footprints for a broad set of countries and agricultural commodities; it can be applied at different scales, estimating both national and subnational footprints; it can be adopted to account both for direct (proximate) and indirect drivers of land-use change. It is argued that with an increasing commercialization and globalization of the drivers of land-use change, the proposed carbon footprint methodology could help leverage the power needed to alter environmentally destructive land-use practices within the global agricultural system by providing a tool for assessing the environmental impacts of production, thereby informing consumers about the impacts of consumption and incentivizing producers to become more environmentally responsible. © 2014 John Wiley & Sons Ltd.

Safety Management in an Oil Company through Failure Mode Effects and Critical Analysis

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Benedictus Rahardjo

2016-06-01

Full Text Available This study attempts to apply Failure Mode Effects and Criticality Analysis (FMECA to improve the safety of a production system, specifically the production process of an oil company. Since food processing is a worldwide issue and self-management of a food company is more important than relying on government regulations, therefore this study focused on that matter. The initial step of this study is to identify and analyze the criticality of the potential failure modes of the production process. Furthermore, take corrective action to minimize the probability of repeating the same failure mode, followed by a re-analysis of its criticality. The results of corrective actions were compared with those before improvement conditions by testing the significance of the difference using two sample t-test. The final measured result is the Criticality Priority Number (CPN, which refers to the severity category of the failure mode and the probability of occurrence of the same failure mode. The recommended actions proposed by the FMECA significantly reduce the CPN compared with the value before improvement, with increases of 38.46% for the palm olein case study.

Energy. For all the (black) gold in Brazil

International Nuclear Information System (INIS)

Dupin, L.

2010-01-01

This article comments the important presence of French industries, and notably small and medium sized enterprises, in the development of the Brazilian oil sector, in particularly on offshore deep water drilling sites. This development is supported by very important investments by Petrobras and other Brazilian companies which are briefly presented (OGW, EAS, Engevix, Vale). All the great commissioners are also present: Statoil, Chevron, Shell, Total, Halliburton, Technip. A second article outlines how to successfully approach and enter the Brazilian oil sector: one needs to find help, to learn local customs, to be prepared to an expensive country, to become Brazilian, and to be registered by Petrobras

Treatment of Oily Wastewater Produced From Old Processing Plant of North Oil Company

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Dr. Faris Hammoodi Al-Ani

2012-03-01

Full Text Available The main objectives of this research were to study and analyses oily wastewater characteristics originating from old-processing plant of North Oil Company and to find a suitable and simple method to treat the waste so it can be disposed off safely. The work consists of two stages; the first was the study of oily wastewater characteristics and its negative impacts. The results indicated that oil and grease were the most dominant pollutant with concentration range between 1069 – 3269.3 mg/l that must be removed; other pollutants were found to be within Iraqi and EPA standards. The next stage was the use of these characteristics to choose the proper technology to treat that wastewater. This stage was divided into two stages: the first stage was a jar tests to find the optimum doses of alum, lime and powdered activated carbon (PAC. The second stage was the treatment by a batch pilot plant constructed for this purpose employing the optimum doses as determined from the first stage to treat the waste using a flotation unit followed by a filtration-adsorption unit. The removal efficiencies of flotation unit for oil and grease, COD, and T.S.S found to be 0.9789, 0.974, and 0.9933, respectively, while the removal efficiency for T.D.S was very low 0.0293. From filtration – adsorption column the removal efficiencies of oil and grease, T.D.S, COD, and T.S.S were found to be 0.9486, 0.8908, 0.6870, and 0.7815, respectively. The overall removal efficiencies of pilot plant were 0.9986, 0.8939, 0.9921, and 0.9950, respectively. The results indicated that this type of treatment was the simplest and most effective method that can be used to treat produced oily wastewater before disposal

[Imperial Oil's Cold Lake oil sands operations

International Nuclear Information System (INIS)

Dingle, H. B.

1999-01-01

Imperial Oil Limited's Cold Lake oil sands resources, production and operations in Alberta are discussed. Cold Lake is the company's largest single asset and its largest source of crude oil production. In 1998, Cold Lake accounted for just under half of Imperial's total liquid production, averaging more than 135,000 barrels of bitumen a day. Despite the very difficult operating conditions experienced by the oil sands industry in 1998, Imperial Oil's Cold Lake operations generated a positive cash flow and earnings. Just as important, the near and long-term potential of Cold Lake property continues to be strong, even with the tough market conditions today and the foreseeable future. Proved reserves at the end of 1997 were 1.3 billions barrels, equal to about 24 years of current production, but even more important is Imperial's resource base in the Athabasca region, which represents 150 years of production at current rates. Although production forecasts for the near future are are revised downward because of production shut-in due to low prices, the company is confident of its long-term prospects mainly because of existing infrastructure, superior reservoir quality, 30 years worth of operating improvements and established bitumen-blend markets. Details of the company's future Cold Lake development plans are discussed. The need to continue technology development, which has been at the core of the industry's growth in the past and will continue to be the key to the future, are emphasized

Canadian oil and gas survey 1998

International Nuclear Information System (INIS)

Roberge, R.B.

1998-01-01

The year 1997 brought record levels of financing for the Canadian oil and gas industry which led to record levels of capital spending and unprecedented merger and acquisition activity. Production records were achieved, but soft commodity prices in the fourth quarter resulted in a significant downturn in the equity markets. El Nino reduced demand for natural gas and heating oil, resulting in increased storage levels for both commodities. Record drilling and capital spending fueled the Canadian oilfield service industry as total market capitalization rose to $10 billion. As for the 1998 outlook, the industry has turned to natural gas as the favoured commodity, as indicated by the conclusion of the Alliance pipeline hearings and the Nova/TCPL merger. This survey presents a review of crude oil and natural gas production, prices, and capital spending for development and exploratory wells, and the financial and operating results for fiscal year 1997 of selected oil and gas companies and income trusts. All listed companies are Canadian public companies, or publicly traded income trusts, traded on one of the country's four major stock exchanges. They are ranked according to gross oil and gas production revenue only (before royalties). Syncrude and oil sands production is also included. The remaining data in the financial statistics tables includes all business segments of each company included. The survey excluded companies that were wholly-owned subsidiaries, divisions or U.S. subsidiaries and private companies. tabs., figs

Planning the nuclear contribution to the Brazilian power program

International Nuclear Information System (INIS)

Barbalho, A. Rodrigues; Alves, R. Nazare; Pinto, C. Syllus M.; Souza Santos, T.D. de; Abrao, A.

1977-01-01

The thermo-electric power in Brazil accounts for less than 20% of the total generating capacity. Brazil's power is essentially generated hydraulically, which grants the growing development. The electric energy consumption keeps growing, with the annual average rate of 13%/year in the last five years. The present installed capacity is 20 000 MWe and the projections are: 35 000MWe, in 1980; 50 000 MWe in 1985; 75 000 MWe, in 1990 and 150 000 MWe, in 2 000. Most of the hydraulic resources are located in remote areas of the country, very far from the consumption centers. Under the agreement between the Federal Republic of Germany and Brazil (signed in June 1975), besides the nuclear power station, American made, under construction in Agra dos Reis, with a power capacity of 626 MWe, two more units, each one with 1 300 MWe capacity are to be erected at the same site, and planned to be in operation in 1982 and 1983. Several joint German-Brazilian companies will be established for reactor and fuel manufacture, in the country. The Brazilian state holding nuclear company, Empresas Nucleares Brasileiras S/A., NUCLEBRAS, will participate in the formation of all joint companies with at least 51% of capital investments. The Brazilian Government will spend 10 billion dollars (U.S.), during the agreement's duration, to make its industry stronger, to develop its technology and to reduce its dependence on energy imports. Brazil's target: full independence in nuclear technology (including reactor manufacture and complete fuel cycle) in about 15 years [es

Whither Chinese involvement in the Canadian oil industry

International Nuclear Information System (INIS)

Schulz, B.

2006-01-01

Chinese oil companies have become increasingly focused on securing Canadian oil. However, most of the oil sands leases with good geological and economic prospects are owned by Canadian or Canadian subsidiary companies that have proven unwilling to sell future revenue and reserves bases to the Chinese. The opportunity for a trade of Canadian oil assets for improved Chinese market entry has been limited to Husky, which has existing Chinese connections, as well as to global companies such as Exxon, Shell and BP. In May 2005, the Chinese company Sinopec completed a $105 million deal with Calgary-based Synenco and formed a joint venture for oil sands production and an upgrader. Chinese interests are also involved in the Calgary-based Value Creation Group of Companies as well as in BA Energy. Enbridge has recently invested $25 million in the Heartland upgrader project, presumably with the aim of building pipelines to move new products to Asia. The most significant problem for Canadian oil sands companies and the greatest opportunity for Chinese companies involves the utilization of trained Chinese workers for the $100 billion in oil sands construction planned for the next decade. Significant immigration barriers exist for Chinese workers in Canada, and there is a legitimate concern that Chinese workers may want to stay in Canada. It was concluded that while there may be mutual opportunities for collaboration between Chinese and Canadian energy companies, the Alberta government currently faces challenges in work shortages, immigration, and pressures from unions and environmental lobbyists. 1 fig

Whither Chinese involvement in the Canadian oil industry

Energy Technology Data Exchange (ETDEWEB)