WorldWideScience

Sample records for international oil trader

  1. Political oil import diversification by financial and commercial traders

    International Nuclear Information System (INIS)

    Kashcheeva, Mila; Tsui, Kevin K.

    2015-01-01

    International politics affects the oil trade. But do financial and commercial traders who participate in spot oil trading also respond to changes in international politics? We construct a firm-level dataset for all U.S. oil-importing companies over 1986–2008 to examine how these firms respond to increases in “political distance” between the U.S. and her trading partners, measured by divergence in their UN General Assembly voting patterns. Consistent with previous macro evidence, we first show that individual firms diversify their oil imports politically, even after controlling for unobserved firm heterogeneity. However, the political pattern of oil imports is not entirely driven by the concerns of hold-up risks, which exist when oil transactions via term contracts are associated with backward vertical FDI that is subject to expropriation. In particular, our results indicate that even financial and commercial traders significantly reduce their oil imports from U.S. political enemies. Interestingly, while these traders diversify their oil imports politically immediately after changes in international politics, other oil companies reduce their oil imports with a significant time lag. Our findings suggest that in designing regulations to avoid harmful repercussions on commodity and financial assets, policymakers need to understand the nature of political risk. -- Highlights: •American firms diversify their oil imports politically. •Financial and commercial traders diversify their oil imports politically immediately. •Other oil companies reduce their oil imports with a significant time lag. •Policymakers need to understand the nature of political risk

  2. Perception Of Trader Towards International Trade: A Diagnostic Study

    Directory of Open Access Journals (Sweden)

    Muzaffar Asad

    2010-12-01

    Full Text Available In this article the authors have identified the significant factors that influence international trade in the light of traders. Foreign exchange transaction may prove to be helpful in managing currency risk which is associated with import and export of goods. The significance of multi-national firms over international trade has been discussed along with the impact of balance of payment over international trade and the measures taken by the government to create a balance in balance of payment and balance of trade. The considerations of countries while determining exchange rates have been elaborated in this paper. The numerous factors that affect decision making for International Traders and the rectifications are also discussed in this paper. The paper also discusses how various aspects induce an industry to change its course or completely shut down and how to deal with these lingering threats. On the basis of literature reviewed the variables that have been selected that may influence international trade include; trade quotas, brand name, WTO, NAFTA, SAFTA, ASIAN, GATT, e-commerce, international payment systems, product specialization, home industry, foreign reserves, government regulations, international market, dumping duties, trade policies, social crises, economic crises, balance of payments, change in value, and supply than demand. A questionnaire will be developed on the basis of above-mentioned variables. The respondents of questionnaire will be the traders in the international market, importers and exporters. The data will then be handled by the use of SPSS. Regression analysis will be conducted to identify the significant variables that have major impact on international trade. At the end the recommendations will be mentioned for getting maximum benefit from international trade.

  3. The Impact of Fundamental and Financial Traders on the Term Structure of Oil

    DEFF Research Database (Denmark)

    Heidorn, Thomas; Mokinski, Frieder; Rühl, Christof

    2015-01-01

    We study how the exposure of fundamental and financial traders affects the futures curve of WTI oil and the market integration between WTI and Brent measured by their price spread. To obtain a parsimonious representation of the futures curve, we decompose it into a level-, a slope- and a curvature...... factor in a first step. In a second step, we separately regress each extracted factor on measures of the market exposure of fundamental and financial traders revealing whether and how the exposure of the two trader groups affects the different dimensions of the futures curve. Spanning from 2006 until...... 2012, our dataset covers sub-periods of a sharp WTI-price rise as well as a diverging Brent-WTI-spread. Our contribution is threefold: First, we suggest that it is important to distinguish between level and slope as we find that fundamental traders have a measurable impact on the level of the futures...

  4. Causality in variance and the type of traders in crude oil futures

    International Nuclear Information System (INIS)

    Bhar, Ramaprasad; Hamori, Shigeyuki

    2005-01-01

    This article examines the causal relationship and, in particular, informational dependence between crude oil futures return and the trading volume using daily data over a ten-year period using a recent econometric methodology. The two-step procedure developed by Cheung and Ng (1996) [Cheung, Y.W., Ng, L.K., 1996. A causality-in-variance test and its applications to financial market prices, Journal of Econometrics 72, 33-48.] is robust to distributional assumption and does not depend on simultaneous modeling of the two variables. We find only causality at higher order lags running from return to volume in the mean as well as in conditional variance. Our result is not in complete agreement with several earlier studies in this area. However, the result does indicate mild support for noise traders' hypothesis in the crude oil futures market. (Author)

  5. Dynamic international oil markets

    International Nuclear Information System (INIS)

    van der Linde, C.

    1992-01-01

    Dynamic International Oil Market Developments and Structure 1860-1990 discusses the logic of changing market structures of the international oil industry. The market structures have, in the course of time, oscillated between competition and oligopoly, as the oil market expanded, matured, stagnated, and expanded again. This book provides a dynamic interpretation of the intensifying struggle among producer, and consumer governments, and oil companies, over the distribution of economic rents and profits. In particular, it shows the shifting fortunes of the governments and companies as they try to control the recurring capacity constraints between the upstream and downstream sectors, generated by the instability of the oil market. The first part of the book examines market conditions and developments between 1860 and 1990; the second part analyzes market structures after 1945

  6. International oil law

    International Nuclear Information System (INIS)

    Torkzad, B.

    1997-01-01

    The 1973 energy crisis demonstrated that the international petroleum industry is not totally free. Very often it has been the object of an organization, even during the domination of international oil companies which have established a petroleum international system with a system of concession rights. This system is based on an oligopolistic structure which had the characteristics of a monopoly. This vertically integrated structure of the world petroleum industry during the 1920-1950 era was more or less locked up by the system of concessions. The incompatibility of this system of excessively long concession contracts with the economical development needs of oil exporting countries has led to their abolishment. They have been replaced by new agreements. As soon as the creation of stable and permanent international oil organizations (OPEC, OAPEC, IEA), an institutional right has been established which has generated international rights and principles governing the contractual relations between oil exporting and oil importing countries. This international petroleum right is both original and specific, it is evolutive, contractual and normative. (J.S.)

  7. An analysis of the effectiveness of a joint commodity and foreign exchange rate futures hedge: The case of a Canadian crude oil trader

    International Nuclear Information System (INIS)

    Klusa, L.J.

    1993-04-01

    This study focused on reducing risk for Canadian crude oil traders exposed to crude oil price and exchange rate uncertainty. Joint static and flow period hedges were developed and compared to unhedged positions and to naive and simple hedges. Optimal hedge ratio size and hedging effectiveness were identified for a variety of hedge lifting periods and durations. The in-sample results indicated that joint hedge models were more effective than other models in terms of minimizing the variance of returns. Out-of-sample results indicated that joint and simple commodity hedges were equally effective. Other findings included: shorter duration, close to expiry hedges were the most effective; the difference between the variability of spot and future price differences and their correlations were related to hedge ratio size; and a flow period hedge was the most effective hedge when spot prices were monthly average prices. 53 refs., 3 figs., 49 tabs

  8. International Oil Supplies and Demands

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  9. International Oil Supplies and Demands

    International Nuclear Information System (INIS)

    1991-09-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence

  10. International Oil Supplies and Demands

    International Nuclear Information System (INIS)

    1992-04-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence

  11. International Oil Supplies and Demands

    Energy Technology Data Exchange (ETDEWEB)

    1992-04-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  12. International oil opportunities

    International Nuclear Information System (INIS)

    Hares, T.N.D.; Mann, D.W.

    1995-01-01

    Some of the key issues to be addressed when selecting international opportunities, were discussed. The ideal opportunity should have the following characteristics: (1) large, low risk (2) high percentage of rent available to the investor, (3) low cost and low technical requirements, (4) low country risk, (5) low competition, (6) easy to access, and (7) favorable environment in which to work. Entering an international opportunity can be achieved by competitive bidding, direct negotiation, partnership, corporate and/or asset acquisition, and long-term relationships. Key success factors were identified as (1) applying technical financial and commercial skills in the international environment, (2) speedy response, (3) excellent relationships in the foreign country, (4) understanding the local culture, and (5) keeping a good track record. 6 figs

  13. Iranian-Oil-Free Zone and international oil prices

    International Nuclear Information System (INIS)

    Farzanegan, Mohammad Reza; Raeisian Parvari, Mozhgan

    2014-01-01

    One of the main elements of economic sanctions against Iran due to its nuclear and military programs is crude oil exportation restrictions in addition to investment in Iranian energy related projects. Senders of such sanction are interested in understanding the impacts of such embargos on international oil prices. We apply unrestricted vector autoregressive (VAR) model, using impulse response functions (IRF) and variance decomposition analysis (VDA) tools with annual data from 1965 to 2012 to analyze the dynamic response of international oil prices to Iranian oil export sanction. Controlling for the supply of non-Iranian oil, the world GDP per capita, and post-Islamic revolution exogenous dummy variables, we show that international oil prices respond negatively and statistically significant to increasing shock in absolute negative changes of the Iranian oil exports – our proxy of Iran oil sanctions – following the first 2 years after shock. The main reason is the positive response of the non-Iranian oil supply to negative shocks in Iranian oil exports, filling the missing supply of Iranian oil in international markets. - Highlights: • We analyze the interconnections between Iranian oil supply and global oil prices. • We use VAR modeling and annual data from 1965 to 2012 for the case of Iran. • There are no inflationary effects of Iranian oil sanction on world oil prices. • Non-Iranian oil supply offsets the missing Iranian oil in the market

  14. 11. International Oil Summit 2010

    International Nuclear Information System (INIS)

    Anon.

    2010-01-01

    In his introduction at the 11. international oil summit 2010, Mr N. Ait-Laoussine (President of Nalcosa and past Energy Minister in Algeria) has summarized the main points which will be approached during the meeting: 1)after the crisis of 2008, what will be the challenges of the petroleum industry? the environmental constraints? the availability of the new technologies? Will the prices volatility be permanent? 2)what will be the strategy at middle/long term of the national petroleum companies, of the international petroleum companies and of the service companies (partnership, research and innovation,....)? (O.M.)

  15. Competition for Traders and Risk

    NARCIS (Netherlands)

    Bijlsma, M.; Boone, J.; Zwart, Gijsbert

    2012-01-01

    Abstract: The financial crisis has been attributed partly to perverse incentives for traders at banks and has led policy makers to propose regulation of banks’ remuneration packages. We explain why poor incentives for traders cannot be fully resolved by only regulating the bank’s top executives, and

  16. High-frequency Trader Subjectivity

    DEFF Research Database (Denmark)

    Borch, Christian; Lange, Ann-Christina

    2017-01-01

    In this article, we examine the recent shift in financial markets toward high-frequency trading (HFT). This turn is being legitimized with reference to how algorithms are allegedly more rational and efficient than human traders, and less prone to emotionally motivated decisions. We argue......-techniques of the ideal high-frequency trader. We demonstrate that these traders face the challenge of avoiding emotional interference in their algorithms and that they deploy a set of disciplinary self-techniques to curb the importance of emotional attachment....

  17. 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)

  18. 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)

  19. Returns to Social Network Capital among Traders

    OpenAIRE

    Marcel Fafchamps; Bart Minten

    2000-01-01

    Using data on agricultural traders in Madagascar, this paper shows that social network capital has a large effect on firm productivity. Better connected traders have significantly larger sales and value added than less connected traders after controlling for physical and human inputs as well as for entrepreneur characteristics. The analysis indicates that three dimensions of social network capital should be distinguished: relationships with other traders, which among other things help firms e...

  20. International oil and gas imnvestment: moving eastward?

    International Nuclear Information System (INIS)

    Waelde, T.W.; Ndi, G.K.

    1994-01-01

    Emerging trends in international oil and gas investment are surveyed in this volume. There is a particular emphasis on the evolution in investment conditions, the environment, and the relationship between the international petroleum industry and the oil and gas sectors in Russia, the Commonwealth of Independent States, and Eastern Europe. A number of legislative documents appear as annexes. A separate abstract has been prepared for each of the 23 chapters. (UK)

  1. What Makes a Good Trader? On the Role of Intuition and Reflection on Trader Performance

    OpenAIRE

    Corgnet, Brice; Desantis, Mark; Porter, David

    2016-01-01

    Using simulations and experiments, we pinpoint two main drivers of trader performance: cognitive reflection and theory of mind. Both dimensions facilitate traders' learning about asset valuation. Cognitive reflection helps traders use market signals to update their beliefs whereas theory of mind offers traders crucial hints on the quality of those signals. We show these skills to be complementary because traders benefit from understanding the quality of market signals only if they are capable...

  2. International Oil Supplies and Demands. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world`s dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group`s thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  3. International Oil Supplies and Demands. Volume 2

    Energy Technology Data Exchange (ETDEWEB)

    1992-04-01

    The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world`s dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oil prices. The model results guided the group`s thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

  4. Outlook for international oil markets

    Energy Technology Data Exchange (ETDEWEB)

    Zanoyan, V; French, M

    1984-01-01

    Despite increased hostilities in the Persian Gulf, there has been a slack in both petroleum product and crude markets and concern over the possibility of a wave of refinery bankruptcies. The short-term outlook recognizes that OPEC problems are not permanent. Demand is not expected to return to pre-1979 levels, and demand growth will not have an equal distribution among OPEC members. Mid-term projections are for real oil prices to be about 12% below 1982 levels, with the decline continuing through 1986. The only significant demand expansion will occur in the industrial sectors of the developing countries due to conservation efforts and fuel substitution that will continue to reduce petroleum's share of total energy consumed by developed countries. Consumption in the transport sector will probably remain at current levels. Oil production in Western countries should peak and then decline during the 1980s, with non-OPEC developing countries filling some of the demand gap and OPEC prices going up instead of production. 6 tables.

  5. Disaggregated Futures and Options Commitments of Traders

    Data.gov (United States)

    Commodity Futures Trading Commission — The Disaggregated Futures and Options Commitments of Traders dataset provides a breakdown of each week's open interest for agriculture, energy, metals, lumber, and...

  6. Disaggregated Futures-Only Commitments of Traders

    Data.gov (United States)

    Commodity Futures Trading Commission — The Disaggregated Futures-Only Commitments of Traders dataset provides a breakdown of each week's open interest for agriculture, energy, metals, lumber, and...

  7. International participation in Russia's oil sector

    International Nuclear Information System (INIS)

    Vowinckel, G.

    1997-01-01

    The active role of the European Bank for Reconstruction and Development (EBRD) in the oil and gas sector of the former Soviet Union was discussed. The EBRD was formed in 1991 with a mandate to help Central and Eastern European countries, particularly countries of the former Soviet Union, to make a transition from the command economy to a market economy. To date, the EBRD has made 15 investments in oil and gas projects with total project costs of nearly $2 billion US. The first projects were joint venture projects with western oil companies. Some of these were the Chernogorskoye project in the Nizhnevortovsk oil region, the Polar Lights project in the Russian Timan-Pechora region, the KomiArctic Oil project in the Komi region of the Russian Federation, two Fracmaster projects and the Geoilbent project. The first years of the projects were difficult, due to the strains of trying to adapt to new challenges and changes. The fiscal regime has changed with time and new taxes have been added and others changed. Many of the legal issues with past projects have been solved. One area of concern with the joint ventures is the export of the produced oil to western markets to achieve international market prices. At present, the joint ventures export between 30 to 50 per cent of their production, but the the Russian Federation would like to increase its export capacity. Production Sharing Agreements (PSAs) have been found to be particularly suitable for the development of large oil fields such as the offshore Sakhalin Island project in the far east of the Russian Federation. Western companies such as Shell, Marathon, Mitsui and Mitsubishi are involved in the first of these developments. Azerbaijan and the Caspian Sea area are other regions outside the Russian Federation which have important potential for international participation in the development of oil fields. Efforts are being made to rehabilitate the fields and to partially rebuild existing pipelines and to construct new

  8. The Conflict in Syria: Key Issues and Consequences on the International Market of Crude Oil

    Directory of Open Access Journals (Sweden)

    Mariana Papatulică

    2013-07-01

    Full Text Available At the end of August 2013, the international prices of Brent crude rose to a 17-month high ($ 117.8 /barrel as Western powers, mainly USA, readied a military strike against Syria, and traders and analysts cited concerns over stability in the Middle East. The main concern was the risk that Western intervention in Syria could prompt a wider regional conflict, given the support that Iran has provided to the regime of Syria. The attack failed to materialize, because U.S. and Russia reached an agreement with the goal of disarming Syria’s chemical weapon arsenal, and consequently the prices declined, but the risk of geopolitical and social unrest movementsAlpha is still high, so that a reactivation of geopolitical tensions in the extended area of Middle East and north Africa is anytime possible with the afferent disruptive effects on the international oil market. We tried to answer to some questions in order to clear up the background of the problem: 1 What was the real stake of the U.S. plan to intervene in Syria: the concern generated by chemical weapons or U.S. geostrategic interests in the wider Middle East? 2 Why Syria matters to oil market, given that it is not a major oil producer (as was Libya, nor is it a major transit point for oil and gas exports (as is Egypt? 3 The aftermath of a serious military action targeted against the Middle Eastern country and “qui prodest”? 4 Will Iran’s possible return to the world oil market send oil prices down, and how much?

  9. A note on trader Sharpe Ratios.

    Science.gov (United States)

    Coates, John M; Page, Lionel

    2009-11-25

    Traders in the financial world are assessed by the amount of money they make and, increasingly, by the amount of money they make per unit of risk taken, a measure known as the Sharpe Ratio. Little is known about the average Sharpe Ratio among traders, but the Efficient Market Hypothesis suggests that traders, like asset managers, should not outperform the broad market. Here we report the findings of a study conducted in the City of London which shows that a population of experienced traders attain Sharpe Ratios significantly higher than the broad market. To explain this anomaly we examine a surrogate marker of prenatal androgen exposure, the second-to-fourth finger length ratio (2D:4D), which has previously been identified as predicting a trader's long term profitability. We find that it predicts the amount of risk taken by traders but not their Sharpe Ratios. We do, however, find that the traders' Sharpe Ratios increase markedly with the number of years they have traded, a result suggesting that learning plays a role in increasing the returns of traders. Our findings present anomalous data for the Efficient Markets Hypothesis.

  10. A note on trader Sharpe Ratios.

    Directory of Open Access Journals (Sweden)

    John M Coates

    Full Text Available Traders in the financial world are assessed by the amount of money they make and, increasingly, by the amount of money they make per unit of risk taken, a measure known as the Sharpe Ratio. Little is known about the average Sharpe Ratio among traders, but the Efficient Market Hypothesis suggests that traders, like asset managers, should not outperform the broad market. Here we report the findings of a study conducted in the City of London which shows that a population of experienced traders attain Sharpe Ratios significantly higher than the broad market. To explain this anomaly we examine a surrogate marker of prenatal androgen exposure, the second-to-fourth finger length ratio (2D:4D, which has previously been identified as predicting a trader's long term profitability. We find that it predicts the amount of risk taken by traders but not their Sharpe Ratios. We do, however, find that the traders' Sharpe Ratios increase markedly with the number of years they have traded, a result suggesting that learning plays a role in increasing the returns of traders. Our findings present anomalous data for the Efficient Markets Hypothesis.

  11. 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)

  12. International oil market: instability and restructuring

    Energy Technology Data Exchange (ETDEWEB)

    Ayoub, A

    1988-12-01

    The three phenomena which today dominate the international oil market are: 1. the downward price trend since 1981 and the uncertainty about medium and long term price evolution; 2. chronic price instability in the short term; 3. the trend toward new forms of vertical integration and concentration which are now stabilizing a market confronted by a weakening OPEC and free markets which are volatile. The new market restructuring the present period for the international oil sector as a transition period, with the following characteristics: 1. an evident convergence in the motivations of the major oil companies and of a number of OPEC countries, to see a certain stability restored in the oil market based on vertical integration and concentration; 2. markets cannot be stabilized by political agreements between the states, but only by reciprocal financial implications and participations between companies according to the rules of the business world; 3. the market as a whole will still continue for a certain time to be governed by the OPEC-free market pair, with alternating domination by one or the other according to the economic situation. Nevertheless, the longer the market continues to be unstable, the more the trend toward concentration and integration will intensify.

  13. Oil cartel and international financial stability

    Energy Technology Data Exchange (ETDEWEB)

    McKenzie, G

    1976-06-01

    For many years there has existed a debate among economists as to whether the problems of unemployment, inflation, and international economic adjustment are largely financial in nature or whether they are ''real''; i.e., arising from dislocations in commodity and labor markets. The correct position is that they are a bit of both. This is the viewpoint that provides the background for this paper, which examines the consequences of the recent petroleum price increases imposed by the major oil-exporting countries. On the one hand, the ''real'' implications are fairly obvious. First, petroleum products are used either directly or as fuels in virtually every commodity-production process. Higher input costs are therefore bound to lead to increased prices for most other commodities. Second, higher petroleum prices will lead (and are leading) to the use and/or search for viable substitutes. However, there have been several important financial implications as well. First, there has been a dramatic change in the pattern of domestic and international financial flows resulting from the rapid accumulation of new wealth by the oil-exporting countries. Second, there has been an important change in the nature of these flows with significant implications for the stability of domestic commodity and foreign exchange markets. This paper emphasizes the interaction of ''real'' and financial variables that has taken place as a result of the actions of the oil exporters.

  14. A Study on the efficient alleviation of domestic oil price at international oil crisis

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Young Ku [Korea Energy Economics Institute, Euiwang (Korea)

    1999-01-01

    For alleviating domestic oil price when the international oil crisis happens, the government has been reacted directly such as using stored oil or alleviation fund. Although the release of stored oil works for short-term depending on the type of crisis, concerning that most of oil crisis had been resulted in temporary supply reduction rather than long-term supply suspension, utilizing the domestic alleviation fund is regarded more economical than storing oil. However, it has been suggested to compare efficiencies of alleviation fund and a futures market regarding the perspectives that using alleviation fund is more inefficient than utilizing a futures market. Moreover, the direct management by government is less efficient than indirect management. As an efficient way to alleviate domestic oil price at international oil crisis, this study presents an effective utilization of trading in futures of crude oil. There is a high probability of occurrence of this kind of oil crisis by judging from the world political situation and the trend of oil market. In such a case, the government as a crude oil importer should minimize the stored oil and utilize a futures market effectively. The subject of alleviating oil price by trading in futures is an oil supplier, such as oil refining companies or oil importers not the government as a prerequisite. Furthermore, the government should approve to include appropriate cost for preparing oil price alleviation in the oil price and it is required that such a government policy should be consistent. (author). 41 refs., 3 figs., 15 Tabs.

  15. Comparative analysis of fiscal terms for Alberta oil sands and international heavy and conventional oils

    International Nuclear Information System (INIS)

    Van Meurs, P.

    2007-01-01

    There are considerable differences between international heavy oil and Alberta oil sands projects, notably the high viscosity of the bitumen in the oil sands reservoirs. The oil sands bitumen do not flow to wells without heating the bitumen, thereby adding to the already high cost of Alberta oil sand operations. This report provided an economic comparison of Alberta oil sands and international heavy oil projects. It also included a brief scoping review to compare with conventional oil regimes. Full exploration costs including the costs of dry holes were allocated to conventional oil operations in order to obtain a proper comparison. This investigation included the costs of dry holes. The report was a follow up to an earlier study released on April 12, 2007 on the preliminary fiscal evaluation of Alberta oil sand terms. The report provided an economic framework and described project selection. It then provided a discussion of production, costs and price data. Four adjusted projects were presented and compared with Alberta. The Venezuelan royalty formula was also discussed. Last, the report provided a detailed fiscal analysis. Comparisons were offered with Cold Lake and Athabasca Mine. A review of some other fiscal systems applicable to conventional oil were also outlined. It was concluded that Alberta oil sands developments are very competitive. It would be possible to modestly increase government revenues, without affecting the international competitive position of Alberta with respect to conventional oil. There is also some possibility to increase the base royalty on the Alberta oil sands without losing competitiveness. tabs., figs

  16. Structural reasons for vertical integration in the international oil industry

    International Nuclear Information System (INIS)

    Luciani, G.

    1991-01-01

    Once upon a time, the international oil industry was vertically integrated. A small group of companies controlled a very substantial share of international oil flows, extending their operations from the oil well to the gas pump, and relying on intracorporate transfers for most in-between transactions. The historical reasons for vertical disintegration, the market role, and structural reasons for vertical reintegration are examined. (author)

  17. Traders' behavioral coupling and market phase transition

    Science.gov (United States)

    Ma, Rong; Zhang, Yin; Li, Honggang

    2017-11-01

    Traditional economic theory is based on the assumption that traders are completely independent and rational; however, trading behavior in the real market is often coupled by various factors. This paper discusses behavioral coupling based on the stock index in the stock market, focusing on the convergence of traders' behavior, its effect on the correlation of stock returns and market volatility. We find that the behavioral consensus in the stock market, the correlation degree of stock returns, and the market volatility all exhibit significant phase transitions with stronger coupling.

  18. 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

  19. Contraceptive use among female traders in Ibadan, Nigeria ...

    African Journals Online (AJOL)

    Contraceptive use among female traders in Ibadan, Nigeria. ... residence and compatibility between work and family responsibilities especially child care. ... contraceptives and associated factors among female traders in a well-defined market.

  20. Hypertension and Risk Factors Among Traders in Enugu, Nigeria ...

    African Journals Online (AJOL)

    demographic and lifestyle risk factors for hypertension among traders in Enugu, Nigeria. Materials and Methods: The study design was cross sectional and systematic sampling method was used to select the 451 traders studied. Data was collected ...

  1. 75 FR 21455 - Large Trader Reporting System

    Science.gov (United States)

    2010-04-23

    ... essence, a ``large trader'' would be defined as a person whose transactions in NMS securities equal or... directly or indirectly effect securities transactions.\\14\\ \\12\\ Section 13(h) of the Exchange Act defines a... term ``identifying activity level'' is defined in Section 13(h) as ``transactions in publicly traded...

  2. High Frequency Traders and Market Structure

    NARCIS (Netherlands)

    Menkveld, A.J.

    2014-01-01

    The arrival of high-frequency traders (HFTs) coincided with the entry of new markets and, subsequently, strong fragmentation of the order flow. These trends might be related as new markets serve HFTs who seek low fees and high speed. New markets only thrive on competitive price quotes that

  3. Beef traders' and consumers' perceptions on the development of a ...

    African Journals Online (AJOL)

    Beef traders' and consumers' perceptions on the development of a natural pasture-fed beef (NPB) brand by smallholder cattle producers were investigated. In total, 18 meat traders (five abattoirs and 13 beef retailers) and 155 beef consumers were interviewed using structured questionnaires. All meat traders had the ...

  4. 25 CFR 140.23 - Credit at trader's risk.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Credit at trader's risk. 140.23 Section 140.23 Indians....23 Credit at trader's risk. Credit given Indians will be at the trader's own risk, as no assistance... accept pawns or pledges of personal property by Indians to obtain credit or loans. ...

  5. Oil and international security: old and new issues

    International Nuclear Information System (INIS)

    Noel, P.

    1998-09-01

    This paper questions the effectiveness of the link between international oil and (inter)national security. First, it explains an acknowledge the rise and decline of the traditional case of this link: the threat that so called ''oil dependence'' inflicts upon the national economy, hence the problem it raises for government. The reason for that decline is looked for in the emergence of multiple forms of competition in oil and energy markets, making the ''oil weapon'' less credible and its use less desirable and less possible. In oil like in any other commodity, the normal situation is the competition between suppliers for access to markets. For all basic economics tells us and experience has confirmed, analyses and policies (at least in France) are still strongly influenced by the ''oil security'' thinking shaped in the eve of the 1970 crises. Yet, those fallacies may be the strongest obstacle to the acknowledgment of the real oil security issues we face. The main one is the possible political destabilization of the Middle East due to oil competition between its members in an increasingly competitive world market. The consequences on regional antagonisms of the come back of Iraqi oil to the market on one hand, the internal stability of Iran and Saudi Arabia in a situation of lasting low oil revenues on the other hand, are reviewed as the main possible factors of regional destabilization in a context of strong competition in the world oil market. A large scale political burst with major oil producers concerned would certainly hurt developed and developing economy. That leads us to this paradoxical situation: the very cause of the decline of the traditional oil dependence issue is, due to Middle East situation, the main cause of possible destabilization of world oil market today. (author)

  6. International oil and gas finance review 1997

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    This first edition covers financing projects in the developing world, mergers and acquisitions; mitigating cross-border risk; basic risk in energy markets; real-time oil and gas pricing issues; oil and gas equity; risk management; project finance. The yearbook also features more regional specific topics such as: gas transportation in the Mercosur; 25 years of growth in the UAE; natural gas in Mexico; LNG in the Far East; legal issues surrounding the Russian oil and gas industry; LNG projects in the Middle East; the North Sea; and financing the oil and gas industry of Southern and South Africa. (UK)

  7. 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

  8. Placing Brazil's heavy acid oils on international markets

    International Nuclear Information System (INIS)

    Szklo, Alexandre Salem; Machado, Giovani; Schaeffer, Roberto; Felipe Simoes, Andre; Barboza Mariano, Jacqueline

    2006-01-01

    This paper identifies the international market niches of Brazil's heavy acid oils. It analyzes the perspectives for making wider use of heavy acid oils, assessing their importance for certain oil-producing regions such as Brazil, Venezuela, West Africa, the North Sea and China. Within this context, the oil produced in the Marlim Field offshore Brazil is of specific interest, spurred by the development of its commercial brand name for placement on international markets and backed by ample production volumes. This analysis indicates keener international competition among acid oils produced in Brazil, the North Sea and the West Coast of Africa, through to 2010. However, over the long term, refinery conversion capacity is the key factor for channeling larger volumes of heavy acid oils to the international market. In this case, the future of acid oil producers will depend on investments in refineries close to oil product consumption centers. For Brazil, this means investments in modifying its refineries and setting up partnerships in the downstream segment for consumer centers absorbing all products of high added value, such as the USA and even Southeast Asia and Western Europe

  9. Security Price Informativeness with Delegated Traders

    OpenAIRE

    Gary Gorton; Ping He; Lixin Huang

    2010-01-01

    Trade in securities markets is conducted by agents acting for principals, using "mark-to-market" contracts whereby performance is assessed using security market prices. We endogenize contract choices, information production, informed trading, and security price informativeness. But there is a contract externality. Prices are informative only because other principals induce their agents to trade based on privately produced information. The agent-traders then have an incentive to coordinate and...

  10. Merger and acquisition in the international oil industry

    Energy Technology Data Exchange (ETDEWEB)

    Imai, Yoshiichi

    1988-07-01

    Outlines are given of the background and evaluation of recent giant mergers and acquisitions in the international oil industry and of future trends of them. The petroleum exporting countries or OPEC nationalized oil resourses in the first half of 1970's and acquired the crude oil deposits that had been controlled by the seven majors. The percentage of the seven majors' crude oil deposits in the free world was about 70% in 1968, but decreased sharply down to about 6% in 1978 to 1979, when the world experienced the second oil crisis. The decrease of Texaco, COCAL, and Mobil was remarkable. That was the background of these three companies' giant acquisitions in 1984. For the oil companies suffering from decrease of oil deposits, the inexpensive and dependable way to secure deposits was to take over developed reserves of other companies. Although there are the pros and cons in the evaluation of the merger and acquisition, these trends continues, including the oil exporting countries, and are very likely to move to the international reconstraction of the oil industry. (10 tabs)

  11. 16. International oil field chemistry symposium

    International Nuclear Information System (INIS)

    2006-03-01

    The symposium deals with topics on well chemicals, petrochemicals, well injection fluids, reservoir describing methods, reservoir exploitation enhancing chemicals, corrosion inhibitors, production methods and chemical aspects of maintenance, multiphase flow and reservoir geochemistry. The environmental effects of the chemicals and preservation of the environment is also focussed on. Some aspects of decommissioning of oil fields are dealt with

  12. International scenarios of the Venezuelan oil industry

    International Nuclear Information System (INIS)

    Reinoso, Felipe; Irsay, Jorge E.

    1999-01-01

    The times of stability of the energy business, which characterized the 50s and the 60s came to their end in the 70s. From that moment on, new times have become times of quick changes and high uncertainty. In order to minimize the impact of the surprises that the future may bring, and so decrease the managers' decision making risk, many companies use the scenario planning process. The end purpose of scenario planning is the creation of an organization that will adapted to changes, a learning organization, that is able to identify the business environment un knows and to use this knowledge as one of its advantages. The present article shows the scenarios generated for the Venezuelan oil industry's strategic planning exercise for the 1999-2015 period. Theses scenarios are Consensus and Harmony, Regions and Environment, Conflicts and Decadence and Pragmatic Community. It is concluded from them that oil business success would be supported by differentiation as a secure, trusted and low cost producer; early oil and gas opportunities identification; Hemispherical integration and/or bilateral commercial agreements; oil and gas business portfolio diversification; and diversification to state-of-the-art technologies for renewable forms of energy

  13. Compensation for oil pollution damage caused by oil spills from ships and the International Oil Pollution Compensation Fund

    International Nuclear Information System (INIS)

    Jacobsson, M.

    1994-01-01

    Liability and compensation for pollution damage caused by oil spills from laden tankers is governed by two international conventions: the 1969 Civil Liability Convention and the 1971 Fund Convention. The Civil Liability Convention established a system of strict liability for tanker owners and introduced compulsory liability insurance. The Fund Convention created a system of supplementary compensation administered by an intergovernmental organization, the International Oil Pollution Compensation Fund (IOPC Fund), which at present has 56 member states (August 1993). The IOPC Fund pays compensation to victims of oil pollution in member states when the compensation from the ship owner and his insurer is insufficient. (author)

  14. Informed Traders as Liquidity Providers: Anonymity, Liquidity and Price Formation

    OpenAIRE

    Barbara Rindi

    2008-01-01

    The tendency to introduce anonymity into financial markets apparently runs counter to the theory supporting transparency. This paper studies the impact of pre-trade transparency on liquidity in a market where risk-averse traders accommodate the liquidity demand of noise traders. When some risk-averse investors become informed, an adverse selection problem ensues for the others, making them reluctant to supply liquidity. Hence the disclosure of traders' identities improves liquidity by mitigat...

  15. Analysis of international oil and gas contracts

    International Nuclear Information System (INIS)

    Moran, S.

    1992-01-01

    The purposes of this paper are to describe the main types of international petroleum contracts, to give the reader methods for comparing contract qualities and analyzing the profitability of petroleum field models under basic contract terms, to describe methods for assessing tradeoffs between various terms of a contract, to describe briefly U.S. Taxation of international petroleum extraction income, and to discuss certain special considerations that apply to the international arena

  16. Planning international transit oil pipeline projects in Croatia

    International Nuclear Information System (INIS)

    Sekulic, G.; Vrbic, D.

    2004-01-01

    Planning and development of international oil pipeline projects are aimed primarily at enhancing the safety of crude oil supply. Pipeline development is affected by a variety of overlapping factors, such as energy - and environment-protection-related factors, as well as political, economic, legislative, social, technical and technological ones. The success of any pipeline planning, construction and operation in the present conditions will depend upon the degree to which the above factors have been brought in line with global trends. The government should create stable political, economic and legislative frameworks that will meet the global requirements of crude oil transport development. As regards (new) transportation companies, their function is to secure safe transport by providing competitive tariffs and granting environmental protection. A prerequisite for the pipeline planning is to have both major crude oil consumers and producers (as well as their economic and political integrations) consider any state or company as potential partners for crude oil transport and transit, respectively. Croatia and the JANAF transport company have been 'chosen' as one of priority routes for European supply with crude oil from the Caspian region and Russia and one of the directions for Russian crude oil export due to a number of advantages, opportunities and prospects for a successful development. Two international oil pipeline projects - the Druzba Adria Project and the Constanta-Pancevo-Omisalj-Trieste Project - are currently under consideration. The government commitment towards these projects has been documented by the Croatian Energy Development Strategy (April 2002) and by the Programme for its implementation (March 2004). JANAF has assumed the responsibility for carrying out the project preparation activities assigned to it by the Croatian Government and the pertinent ministries. Cooperation between JANAF and government institutions is an integral part of the procedure

  17. French civil law aspects of international sales of oil

    International Nuclear Information System (INIS)

    Moquet, A.

    1992-01-01

    There is not in France, as in London and New York, and organised trade market for crude oil and oil products. French law does not apply to oil futures negotiated in foreign markets, although solicitation in France for transactions in a foreign market is legal only if that market is approved by the French Minister in charge of Economic Affairs. However, French oil producers do enter into OTC forward and commodity swap agreements. Although most of these agreements are standardised and expressly choose English law and the jurisdiction of the High Court of London for resolution of disputes, fundamental principles of French private international law may impose jurisdiction of a French Commercial Court (in case of bankruptcy of the French party for example) and/or rules of necessary application or public order. (author)

  18. 1993 International oil spill conference: Prevention, preparedness, response

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    This book contains the proceedings of the 1993 International Oil Spill Conference which took place March 29 - April 1 in Tampa, Florida. It was jointly sponsored by the American Petroleum Institute, the US Coast Guard, and the US Environmental Protection Agency. Topics discussed included all aspects of spill prevention and preparedness, including planning, training, and research and development. Response issues, including fate and effects of spilled oil, cleanup, bioremediation, and in situ burning were also discussed. Legal and economic issues were also analyzed in the form of case studies

  19. Investment and uncertainty in the international oil and gas industry

    International Nuclear Information System (INIS)

    Mohn, Klaus; Misund, Baard

    2009-01-01

    The standard theory of irreversible investments and real options suggests a negative relation between investment and uncertainty. Richer models with compound option structures open for a positive relationship. This paper presents a micro-econometric study of corporate investment and uncertainty in a period of market turbulence and restructuring in the international oil and gas industry. Based on data for 115 companies over the period 1992-2005, we estimate four different specifications of the q model of investment, with robust results for the uncertainty variables. The estimated models suggest that macroeconomic uncertainty creates a bottleneck for oil and gas investment and production, whereas industry-specific uncertainty has a stimulating effect. (author)

  20. Rockets and Feathers: The Asymmetric Effect between China’s Refined Oil Prices and International Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    Yufeng Chen

    2017-03-01

    Full Text Available This paper employs an asymmetric error-correction model (AECM, and uses monthly data on wholesale prices of gasoline and diesel products in China and international crude oil prices from February 2006 to October 2013 to examine whether China’s gasoline and diesel prices adjust asymmetrically to international crude oil price changes. Our empirical results suggest that increases and decreases in international oil prices have asymmetric effects on both wholesale prices of gasoline and diesel fuel in China, and that both increases and decreases in international oil prices have a greater effect on diesel prices than on gasoline prices in China. If there is no change in the maximum retail price, the asymmetry results from the transmission of wholesale prices in China with international oil prices. However, if there is a change in maximum retail prices, both international oil prices and maximum retail prices cause the asymmetry.

  1. The impact of Oil Prices on the International Economic Arena: The Economic Factors and International Players

    Directory of Open Access Journals (Sweden)

    MA. Arben Salihu

    2014-06-01

    Full Text Available Throughout history the new technologies and discoveries revolutionized the way we live. The discovery, the oil, has been critical for society, becoming the world’s most profitable and essential industry transforming itself from domestic to international business. The aim of this paper, above all is to analyze the role of oil and its price volatility in world economy. The ongoing changes and transformations in world oil industry tend to have a great effect not only on the oilimporting countries but also on oil-exporting nations. The demand or supply-triggered oil price volatility differ in its effects to world economic activity. Although it may have different effect for the oil importing nations in comparison to oil exporting nations, still inflationary pressure may be a common feature. A number of points relevant to the study are put forward highlighting pros and cons of issues discussed. The paper also elaborates the environmental concerns, deriving from the increase of oil consumption and the necessity (globally to increase efforts in finding a decent,(environmentally friendly replacement for oil.

  2. 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

  3. World oil: the growing case for international policy

    International Nuclear Information System (INIS)

    Chapman, D.; Khanna, N.

    2000-01-01

    Can the economic theory of depletion be reconciled with low petroleum prices? This article uses a revision of the theory, which reflects demand functions that rise in response to increasing world population and income. The magnitude of producers' and consumers' surplus is estimated under both competitive and monopolistic assumptions; the result indicates a present value comparable to or in excess of today's gross world economic product. Game theory suggests a framework that explains the interaction between oil pricing and military policy, and the economic incentives that result in a general pattern of recent market equilibrium crude oil prices often fluctuating with a 15-20 US dollars per barrel range. The analysis concludes that the economic incentives for political instability in the Persian Gulf will increase, and more formal methods of setting the international framework for Persian Gulf oil may be expected. (author)

  4. Helping women traders. Organizing for change: Nigeria.

    Science.gov (United States)

    Obadina, E

    1995-01-01

    In Nigeria, the World Bank developed a pilot project, the Women's Management Training Outreach Programme (WMTOP), to improve the managerial skills of illiterate and semiliterate rural business women and farmers. In 1993, WMTOP chose the Country Women's Association of Nigeria (COWAN) for training. The result for a local group of cooperative kola nut traders was improved time management techniques, a more profitable division of labor, and the ability to keep better written financial records. WMTOP has taught women from 58 local groups (reaching 2600 women) the principles of human resource management, finance and credit, microproject management, and marketing. Although participants praise the project, a lack of money for business expansion continues to hold the women back from real success. Funding for WMTOP comes from the Economic Development Institute of the World Bank, which exists primarily to train government functionaries. This extension to include nongovernmental organizations in the training program is a result of the World Bank's effort to promote self-sufficiency. WMTOP attempts to take the program directly to the women, and the trainers live with the trainees in their home villages during the follow-up sessions. All of the WMTOP materials have been translated into Yoruba to eliminate misunderstandings. WMTOP seed money will end in 1996, but there is hope that this positive program will interest donors.

  5. A simple test of expected utility theory using professional traders.

    Science.gov (United States)

    List, John A; Haigh, Michael S

    2005-01-18

    We compare behavior across students and professional traders from the Chicago Board of Trade in a classic Allais paradox experiment. Our experiment tests whether independence, a necessary condition in expected utility theory, is systematically violated. We find that both students and professionals exhibit some behavior consistent with the Allais paradox, but the data pattern does suggest that the trader population falls prey to the Allais paradox less frequently than the student population.

  6. Synchronicity, instant messaging, and performance among financial traders.

    Science.gov (United States)

    Saavedra, Serguei; Hagerty, Kathleen; Uzzi, Brian

    2011-03-29

    Successful animal systems often manage risk through synchronous behavior that spontaneously arises without leadership. In critical human systems facing risk, such as financial markets or military operations, our understanding of the benefits associated with synchronicity is nascent but promising. Building on previous work illuminating commonalities between ecological and human systems, we compare the activity patterns of individual financial traders with the simultaneous activity of other traders--an individual and spontaneous characteristic we call synchronous trading. Additionally, we examine the association of synchronous trading with individual performance and communication patterns. Analyzing empirical data on day traders' second-to-second trading and instant messaging, we find that the higher the traders' synchronous trading is, the less likely they are to lose money at the end of the day. We also find that the daily instant messaging patterns of traders are closely associated with their level of synchronous trading. This result suggests that synchronicity and vanguard technology may help traders cope with risky decisions in complex systems and may furnish unique prospects for achieving collective and individual goals.

  7. International oil shocks and household consumption in China

    International Nuclear Information System (INIS)

    Zhang, Dayong; Broadstock, David C.; Cao, Hong

    2014-01-01

    We investigate the impacts that oil price shocks have on residential consumption in China. While it is well understood that oil prices affect consumption in a multitude of ways, the timing and directness of these effects on specific consumption categories is not clear. We demonstrate that the most immediate and direct effect passes through transportation consumption, as might be expected. But we also show that significant effects pass through consumption in other sectors—including “food and clothes”, “medical expenditure”, and other general “living expenditure”—with less immediacy. Given the results, particularly observed asymmetries with respect to rises and falls in international oil prices, we discuss some implications for future adjustments to domestic price policies, in particular the case for removal of domestic price regulation. - Highlights: • We study the impact of oil price shocks on residential consumption in China. • The most immediate effect passes through expenditure on transportation. • Effects also appear for health, education and food and clothing expenditure. • Existing price regulation offers no great benefit. • We argue that a compelling case for removing current price regulation exists

  8. Liability and compensation for oil spill accidents : International regime and its implementation in China

    NARCIS (Netherlands)

    Yang, Yuan

    2017-01-01

    Marine oil spill accidents have long been caused by ship collisions. However, the proliferation of offshore oil and gas installations portends a marked increase in oil spills from these sources. This presents a unique enforcement challenge for international and Chinese domestic systems for oil

  9. 33 CFR 151.19 - International Oil Pollution Prevention (IOPP) Certificates.

    Science.gov (United States)

    2010-07-01

    ... International Oil Pollution Prevention (IOPP) Certificates. (a) Each U.S. oil tanker of 150 gross tons and above... Oil Pollution Prevention (IOPP) Certificate. (b) Each oil tanker of 150 gross tons and above and each... construction, equipment, fittings, or arrangements required by the pollution prevention requirements of parts...

  10. Measuring efficiency of international crude oil markets: A multifractality approach

    Science.gov (United States)

    Niere, H. M.

    2015-01-01

    The three major international crude oil markets are treated as complex systems and their multifractal properties are explored. The study covers daily prices of Brent crude, OPEC reference basket and West Texas Intermediate (WTI) crude from January 2, 2003 to January 2, 2014. A multifractal detrended fluctuation analysis (MFDFA) is employed to extract the generalized Hurst exponents in each of the time series. The generalized Hurst exponent is used to measure the degree of multifractality which in turn is used to quantify the efficiency of the three international crude oil markets. To identify whether the source of multifractality is long-range correlations or broad fat-tail distributions, shuffled data and surrogated data corresponding to each of the time series are generated. Shuffled data are obtained by randomizing the order of the price returns data. This will destroy any long-range correlation of the time series. Surrogated data is produced using the Fourier-Detrended Fluctuation Analysis (F-DFA). This is done by randomizing the phases of the price returns data in Fourier space. This will normalize the distribution of the time series. The study found that for the three crude oil markets, there is a strong dependence of the generalized Hurst exponents with respect to the order of fluctuations. This shows that the daily price time series of the markets under study have signs of multifractality. Using the degree of multifractality as a measure of efficiency, the results show that WTI is the most efficient while OPEC is the least efficient market. This implies that OPEC has the highest likelihood to be manipulated among the three markets. This reflects the fact that Brent and WTI is a very competitive market hence, it has a higher level of complexity compared against OPEC, which has a large monopoly power. Comparing with shuffled data and surrogated data, the findings suggest that for all the three crude oil markets, the multifractality is mainly due to long

  11. OPEC and the international oil market: can a cartel fuel the engine of economic development?

    Czech Academy of Sciences Publication Activity Database

    Noguera, Jose; Pecchenino, R. A.

    2007-01-01

    Roč. 25, č. 1 (2007), s. 187-199 ISSN 0167-7187 Institutional research plan: CEZ:MSM0021620846 Keywords : OPEC * International oil market * oil export Subject RIV: AH - Economics Impact factor: 0.464, year: 2007

  12. International oil and gas exploration and development activities

    Energy Technology Data Exchange (ETDEWEB)

    1990-10-29

    This report is part of an ongoing series of quarterly publications that monitors discoveries of oil and natural gas in foreign countries and provides an analysis of the reserve additions that result. The report is prepared by the Energy Information Administration (EIA) of the US Department of Energy (DOE) under the Foreign Energy Supply Assessment Program (FESAP). It presents a summary of discoveries and reserve additions that result from recent international exploration and development activities. It is intended for use by petroleum industry analysts, various government agencies, and political leaders in the development, implementation, and evaluation of energy plans, policy, and legislation. 25 refs., 8 figs., 4 tabs.

  13. Size and profitability in the international oil- and gas industry

    International Nuclear Information System (INIS)

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

    2002-01-01

    Many industrial sectors have gone through a series of mergers and acquisitions. In the international oil- and gas industry this has produced new companies such as ExxonMobil and TotalFinaElf. BP and Amoco merged and then subjugated Atlantic Richfield (ARCO). ChevronTexaco has been established and ConocoPhillips are currently working on the same thing. Saga was previously acquired by Norsk Hydro and Statoil, and Shell recently bought Enterprise and Pennzoil-Quaker. Taking the stock market's principles for corporate analysis and valuation as a starting point, this article discusses the forces behind this consolidation process

  14. Saudi Aramco: Oil to a Thirsty Market - International Cooperation Brings New Oil Field on Quickly

    Energy Technology Data Exchange (ETDEWEB)

    Al-Ajmi, Ali

    2007-07-01

    In response to high oil demand in 2004, Saudi Aramco committed to build facilities for the 500,000 BOPD Khursaniyah Oil Field in only 34 months from the start of preliminary engineering to startup. The project schedule was six months faster than any previous project, in the most resource competitive market the oil business has ever seen. The execution of this project required a new contract strategy, novel engineering and construction methods, and international cooperation from EPC firms and manufacturers. The project is also building a new one billion SCF per day gas plant receiving gas from five different sources with varying pressure and H2S content, along with huge water supply and injection facilities, oil gathering lines, and product distribution lines. To execute the project in this short time frame, a temporary construction city for 30,000 men has been constructed in the desert. This city has workers from all over 30 countries, speaking more than 15 languages, all focused on achieving one goal - on time completion of the most complex project ever done in Saudi Arabia. The paper will focus on the unique challenges of managing a city of this size that lasts for only 24 months. (auth)

  15. The oil market and international agreements on CO2 emissions

    International Nuclear Information System (INIS)

    Berger, K.; Fimreite, O.; Golombek, R.; Hoel, M.

    1992-01-01

    According to most scientists, greenhouse gas emissions must be reduced significantly relative to current trends to avoid dramatic adverse climatic changes during the next century. CO 2 is the most important greenhouse gas, so any international agreement will certainly cover CO 2 emissions. Any international agreement to reduce emissions of CO 2 is going to have a significant impact on the markets for fossil fuels. The analysis shows that it is not only the amount of CO 2 emissions permitted in an agreement which matters for fossil fuel prices, but also the type of agreement. Two obvious forms of agreements, which under certain assumptions both are cost efficient, are (a) tradeable emission permits, and (b) an international CO 2 tax. If the fossil fuel markets were perfectly competitive, these two types of agreements would have the same effect on the producer price of fossil fuels. However, fossil fuel markets are not completely competitive. It is shown that, under imperfect competition, direct regulation of the 'tradeable quotas' type tends to imply higher producer prices and a larger efficiency loss than an international CO 2 tax giving the same total CO 2 emissions. A numerical illustration of the oil market indicates that the difference in producer prices for the two types of CO 2 agreements is quite significant. 6 refs., 2 figs., 2 tabs

  16. The oil market and international agreements on CO2 emissions

    International Nuclear Information System (INIS)

    Berger, K.; Fimreite, Oe.; Golombek, R.; Hoel, M.

    1991-01-01

    In order to avoid a relatively large risk of dramatic adverse climatic changes during the next century, greenhouse gas emissions must be reduced significantly relative to present emissions. CO 2 is the most important greenhouse gas, so any international agreement will certainly cover CO 2 emissions. Any international agreement to reduce emissions of CO 2 is going to have a significant impact on the markets for fossil fuels. The analysis shows that is not only the amount of CO 2 emissions permitted in an agreement which matters for fossil fuel prices, but also the type of agreement. Two obvious forms of agreements, which under certain assumptions both are cost efficient, are (a) tradeable emission permits, and (b) an international CO 2 tax. If the fossil fuel markets were perfectly competitive, these two types of agreements would have the same effect on the producer price of fossil fuels. However, fossil fuel markets are not completely competitive. It is shown that, under imperfect competition, direct regulation of the ''tradeable quotas'' type tends to imply higher producer prices than an international CO 2 tax giving the same total CO 2 emissions. A numerical illustration of the oil market indicates that the difference in producer prices for the two types of CO 2 agreements is quite significant. 6 refs., 2 figs., 1 tab

  17. Net oil exports embodied in China's international trade: An input–output analysis

    International Nuclear Information System (INIS)

    Tang, Xu; Zhang, Baosheng; Feng, Lianyong; Snowden, Simon; Höök, Mikael

    2012-01-01

    As the world's second largest oil importer, China has been one of the important factors which affect the global oil market. In recent years, China has attained great international trade surplus through exporting a large number of “Made in China” products even during the global economic crisis. Due to direct and indirect effects in production chain, each 'Made in China' product contains oil directly or indirectly. China is exporting much oil through “Made in China” products, which is not often considered even within China. An input–output model is established to calculate oil embodied in the international trade of China. The research results suggest the following: China's net oil exports embodied in the international trade were 87.02 million tonnes in 2007; manufacture of communication equipment, computers and other electronic equipment is the largest sector to export embodied oil; United States, China Hong Kong SAR and Netherlands are the top three countries and regions which benefit most from the embodied oil in “Made in China” products. China's adjusted degree of dependence on foreign oil is 24.9% in 2007, and 38.4% in 2011 if net oil exports embodied in international trade are considered. -- Highlights: ► Model is established based on IO analysis to calculate the net oil exports embodied in China's international trade. ► China's net oil exports through “Made in China” products are 87 million tones in 2007. ► United States, China Hong Kong SAR and Netherlands benefit most from the embodied oil in China's international trade. ► China's degree of dependence on foreign oil can be reduced obviously if oil embodied in international trade are considered.

  18. How do skilled traders change the structure of the market

    Czech Academy of Sciences Publication Activity Database

    Vácha, Lukáš; Baruník, Jozef; Vošvrda, Miloslav

    2012-01-01

    Roč. 23, č. 1 (2012), s. 66-71 ISSN 1057-5219 R&D Projects: GA ČR GAP402/10/0956; GA ČR GP402/08/P207; GA ČR GA402/09/0965 Institutional research plan: CEZ:AV0Z10750506 Institutional support: RVO:67985556 Keywords : Heterogeneous agent model * Market structure * Skilled traders * Hurst exponent Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2012/E/vacha-how do skilled traders change the structure of the market.pdf

  19. Effects of Technical Traders in a Synthetic Stock Market

    Science.gov (United States)

    Bernaschi, M.; Castiglione, F.

    In Ref. 1, a new model for the description of the financial markets dynamics has been proposed. Traders move on a two dimensional lattice and interact by means of mechanisms of mutual influence. In the present paper, we present results from large-scale simulations of the same model enhanced by the introduction of rational traders modeled as moving-averages followers. The dynamics now accounts for log-normal distribution of volatility which is consistent with some observation of real financial indexes7 at least for the central part of the distribution.

  20. Technical Analysis in Forex : A Strategy for Individual Trader in Intra-Day Trading

    OpenAIRE

    Linden, Miikka

    2009-01-01

    The goal of the thesis was to create a simple and profitable strategy for Foreign Exchange Market (forex) currency trading. Forex is an interesting international market, which is becom-ing globally more and more popular. The author has a strong interest in forex and he had no-ticed how many trading strategies are very complicated and difficult to use. The meaning was to study what kind of simple trading strategy would be profitable in forex. The target of the study was intra-day traders, who ...

  1. The tenth CERI [Canadian Energy Research Institute] international oil and gas markets conference

    International Nuclear Information System (INIS)

    1991-01-01

    At a conference on oil and gas markets, papers were presented on oil market instability and its impact on economic development, international energy policy, oil supply and demand, natural gas liquids sales, world gas trade, gas markets in Europe and Asia, petroleum industry activities and their relation to government, oil refining and product market developments, and the North American natural gas market. Separate abstracts have been prepared for 25 papers from this conference

  2. Knowledge of Hepatitis B Virus Infection Among Traders

    African Journals Online (AJOL)

    2017-05-16

    May 16, 2017 ... the knowledge, attitude, and practice (KAP) of HBV infection among traders. Materials and ... Only 10.4% had HBV vaccination. Only 44.2% of the ... Mothers can also transmit it to their children in the perinatal period.[2] It is the ...

  3. Traders' strategy with price feedbacks in financial market

    OpenAIRE

    Mizuno, Takayuki; Nakano, Tohur; Takayasu, Misako; Takayasu, Hideki

    2003-01-01

    We introduce an autoregressive-type model of prices in financial market taking into account the self-modulation effect. We find that traders are mainly using strategies with weighted feedbacks of past prices. These feedbacks are responsible for the slow diffusion in short times, apparent trends and power law distribution of price changes.

  4. Chinese Trader Perceptions on Sourcing and Consumption of Endangered Seafood

    Directory of Open Access Journals (Sweden)

    Michael Fabinyi

    2017-06-01

    Full Text Available Growing trade networks through globalization have expanded governance of local environments to encompass multiple scales. The governing role of market actors, such as traders and consumers in importing countries, has been recognized and embraced for sustainable seafood sourcing and trade. The perceptions that affect the conduct of these actors are a potential influence on governance of distal environments. In this paper we investigate the perceptions of sea cucumber traders in China. Sea cucumbers are an important global fishery commodity predominantly traded to China, the world's largest seafood market, and seven traded species are endangered globally. We examine what traders and consumers in China perceive as important issues in seafood markets, and where they perceive the responsibility for sustainable fisheries to lie, to interpret what scope there is for sustainability to become an important issue in China's seafood markets. We find that clusters of perceptions about cultural status, quality, health and food safety, and country of origin influence decisions that consumers make. These norms are rooted in sociocultural practice and drive current trade strategies. While traders do want to mitigate risks and secure supplies, food safety, product quality and country of origin are viewed as more important concerns than stock sustainability. Responsibility for sustainable fishing is perceived to be that of national governments in production countries. Trading practices and consumer perceptions together pose a serious challenge to sustainable seafood markets, further confounded by clandestine cross-border gray trade into China.

  5. Utilization of modern contraceptives among female traders in Jos ...

    African Journals Online (AJOL)

    McRoy

    use of modern contraceptives has remained low despite the high level of awareness of the modern contraceptives among the female traders. Health education on the ... protecting women's health and rights, impacting upon fertility ..... India. The Internet Journal of World Health and. Societal Politics 2008;5. 16. Makumbi F ...

  6. 78 FR 24780 - 60-Day Notice of Proposed Information Collection: Nonimmigrant Treaty Trader/Investor Application

    Science.gov (United States)

    2013-04-26

    ...: Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for public comment. SUMMARY: The... Information Collection: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: OMB-1405-0101... Number: DS-156E. Respondents: Nonimmigrant Treaty Trader/Investors. Estimated Number of Respondents: 17...

  7. Turmoil on the International Oil Markets. Getting Used to Production Capacity Constraints

    International Nuclear Information System (INIS)

    Ten Kate, W.; Van Geuns, L.

    2009-01-01

    In 2008 the world experienced a prelude to the new realities of the international oil market. These new realities include a tight balance between supply and demand, the rapidly increased cost of the marginal barrel and the extreme price volatility. This price volatility has driven prices up $50 a barrel in the space of 5 months, only to drop $50 in 2 months after the July 14 peak of $147 a barrel when consumers began to seriously drop out of the market and inventories were drawn down. After the extreme downward correction, the crisis on the international capital markets led to dim expectations about economic growth for the rest of the year and 2009, and this also played a role. However, prices are expected to rebound again, reflecting the fundamental upward shift of oil prices from an average of about $70-80 a barrel to about $110-120 a barrel. This fundamental upward shift is due to a combination of so-called 'underground' and 'above ground' conditions. The 'underground' problems include the size, depth and geological complexities of new oil fields that are driving up the cost per barrel. These complex oil fields need to be taken into production, since 'above ground' problems limit International Oil Companies' (IOCs) ability to access the lower-cost oil in producing countries. The 'above ground' problems slow the pace of development of medium-cost oil in the largest producing countries in the Middle East and Russia. Despite the expectation of a continued demand for oil, oil exporting countries are concerned about the security of demand, and adapt their development plans accordingly. Moreover, with the increased prices of the last few years and the resulting increase in oil revenues, the management of the monetarised oil wealth has become a concern as well. The value of the dollar has been slipping and oil exporting countries tried to match this depreciation by increasing oil prices. China's rise as an important manufacturer in the world, with the accompanying

  8. The changing structure of the international oil industry: implications for OPEC

    International Nuclear Information System (INIS)

    Abdalla, K.L.; )

    1995-01-01

    This paper examines the changes in international oil market structure observed in the 1980s and early 1990s and assesses possible effects on oil market conditions in the future and implications for OPEC. It focuses on the trend toward a more vertical organization mainly resulting from substantial purchases of downstream assets by state owned oil companies in major oil producing countries. While the Gulf war prevented greater horizontal concentration of oil reserves, it merely interrupted the trend toward vertical concentration in the international oil industry. The vertical integration of only some of the OPEC members will cause a further divergence of goals within the organization resulting in a lower likelihood of OPEC regaining its former position as an effective cartel. If the trend toward greater vertical concentration increases, future oil prices will, in part, be affected by decisions made by vertically integrated firms. (author)

  9. Charting the new world order: proceedings of the 15. CERI international oil and gas markets conference

    International Nuclear Information System (INIS)

    1996-10-01

    The 15th International Oil and Gas Markets Conference, organized by the Canadian Energy Research Institute (CERI) and held in Calgary, AB, provided a wide variety of opportunities for discussion of the global oil and gas market outlook, international oil and gas market strategies and corporate planning in the new world order, competition for investments, the re-emergence of the geopolitics of energy, energy in the Americas, international gas market strategies, and the financing of Canadian international operations. More than 100 delegates from around the world attended the conference to hear some 20 presentations. refs., tabs., figs

  10. 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)

  11. Oil and international security: old and new issues; Petrole et securite internationale: de nouveaux enjeux

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    1998-09-01

    This paper questions the effectiveness of the link between international oil and (inter)national security. First, it explains an acknowledge the rise and decline of the traditional case of this link: the threat that so called ''oil dependence'' inflicts upon the national economy, hence the problem it raises for government. The reason for that decline is looked for in the emergence of multiple forms of competition in oil and energy markets, making the ''oil weapon'' less credible and its use less desirable and less possible. In oil like in any other commodity, the normal situation is the competition between suppliers for access to markets. For all basic economics tells us and experience has confirmed, analyses and policies (at least in France) are still strongly influenced by the ''oil security'' thinking shaped in the eve of the 1970 crises. Yet, those fallacies may be the strongest obstacle to the acknowledgment of the real oil security issues we face. The main one is the possible political destabilization of the Middle East due to oil competition between its members in an increasingly competitive world market. The consequences on regional antagonisms of the come back of Iraqi oil to the market on one hand, the internal stability of Iran and Saudi Arabia in a situation of lasting low oil revenues on the other hand, are reviewed as the main possible factors of regional destabilization in a context of strong competition in the world oil market. A large scale political burst with major oil producers concerned would certainly hurt developed and developing economy. That leads us to this paradoxical situation: the very cause of the decline of the traditional oil dependence issue is, due to Middle East situation, the main cause of possible destabilization of world oil market today. (author)

  12. Oil and international security: old and new issues; Petrole et securite internationale: de nouveaux enjeux

    Energy Technology Data Exchange (ETDEWEB)

    Noel, P

    1998-09-01

    This paper questions the effectiveness of the link between international oil and (inter)national security. First, it explains an acknowledge the rise and decline of the traditional case of this link: the threat that so called ''oil dependence'' inflicts upon the national economy, hence the problem it raises for government. The reason for that decline is looked for in the emergence of multiple forms of competition in oil and energy markets, making the ''oil weapon'' less credible and its use less desirable and less possible. In oil like in any other commodity, the normal situation is the competition between suppliers for access to markets. For all basic economics tells us and experience has confirmed, analyses and policies (at least in France) are still strongly influenced by the ''oil security'' thinking shaped in the eve of the 1970 crises. Yet, those fallacies may be the strongest obstacle to the acknowledgment of the real oil security issues we face. The main one is the possible political destabilization of the Middle East due to oil competition between its members in an increasingly competitive world market. The consequences on regional antagonisms of the come back of Iraqi oil to the market on one hand, the internal stability of Iran and Saudi Arabia in a situation of lasting low oil revenues on the other hand, are reviewed as the main possible factors of regional destabilization in a context of strong competition in the world oil market. A large scale political burst with major oil producers concerned would certainly hurt developed and developing economy. That leads us to this paradoxical situation: the very cause of the decline of the traditional oil dependence issue is, due to Middle East situation, the main cause of possible destabilization of world oil market today. (author)

  13. Dynamics of trade between the formal sector and informal traders

    OpenAIRE

    Cyril Nhlanhla Ngiba; David Dickinson; Louise Whittaker; Claire Beswick

    2011-01-01

    The informal sector in South Africa is a significant, but not well understood phenomenon. One important question relates to the nature of the relationship between the formal and informal sector. This article uses Porter’s five forces model to interrogate the linkages between informal fruit and vegetable traders in the Natalspruit Market (Ekurhuleni) and their formal suppliers, primarily the Johannesburg Fresh Produce Market. While the threat of new products is low, the street traders’ positio...

  14. Economic impacts of higher oil and gas prices. The role of international trade for Germany

    International Nuclear Information System (INIS)

    Lutz, Christian; Meyer, Bernd

    2009-01-01

    The analysis concentrates on direct and indirect price increases, induced shifts in international trade and structural changes in the oil importing economies. The paper at hand asks, whether a stabilizing effect via international trade and domestic structural change on the GDP of oil importing countries can be observed, if a permanent oil price increase occurs. At least for Germany, structural change from consumer goods to investment goods industry and an improvement of international competitiveness limit negative impacts of increased energy prices. Analysis is based on the extensive and disaggregated global GINFORS model and the detailed INFORGE model for the German economy. (author)

  15. Challenges facing the international oil and gas industry in the 21st century

    International Nuclear Information System (INIS)

    Subroto, Dr.

    1992-01-01

    In the world league of energy suppliers, crude oil producers will continue to lead the field, lubricating the wheels of commerce and industry well into the next century. Oil has now been discovered in most of the world's regions, and some 80% of all oil produced is traded internationally. No other energy commodity offers quite the same qualities of transformability and transportability. Over the last three decades OPEC has been a major player in that trade. This paper briefly examines the turbulent history of oil since OPEC's formation over 30 years ago, noting the events leading up to the decision taken by the Organization in 1985 to abandon its role as oil price administrator and go all out to defend its market share. As the oil world moved from confrontation to dialogue in the late 1980s, OPEC sought constructive talks on the subject of proposed environmental constraints on oil development. (author)

  16. Does China factor matter? An econometric analysis of international crude oil prices

    International Nuclear Information System (INIS)

    Wu, Gang; Zhang, Yue-Jun

    2014-01-01

    Whether China’s crude oil imports are the culprit of oil price volatility these years has not been quantitatively confirmed. Therefore, this paper empirically investigates the role of China’s crude oil net imports in Brent price changes from October 2005 to November 2013 based on an econometric analysis. The results indicate that, during the sample period, China’s crude oil imports do not significantly affect Brent price changes, no matter in the long run or short run. Therefore, the blame for China’s crude oil imports to cause the dramatic fluctuations of international oil price has no solid evidence. Also, there exists significant uni-directional causality running from the Brent price to China's crude oil imports at the 5% level. Besides, the response of the Brent price to China's crude oil imports is found positive but slight, and the Brent price responds more significantly to US dollar exchange rate and OECD commercial inventory than to China’s crude oil imports in the short run. Finally, the contribution of China's crude oil imports to Brent price movement is about 10%, which is less than that of US dollar exchange rate but larger than that of Indian crude oil imports or OECD commercial inventory. - Highlights: • The paper detects the role of China’s crude oil imports in Brent oil price changes. • China’s crude imports do not matter for oil prices in the long run or short run. • The blame for China’s crude imports on oil price changes has no solid evidence. • Significant causality runs from Brent prices to China's crude oil net imports. • China's crude imports contribute less to Brent prices than US dollar exchange rate

  17. First international congress on plant oil fuels. Proceedings; Erster Internationaler Kongress zu Pflanzenoel-Kraftstoffen. Tagungsband

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    The conference proceedings contain 31 contributions on the following topics: biofuels - status and perspectives; ecological evaluation; plant oils: engineering - production and quality; plant oils: international markets and economy; mobile applications - techniques and emissions; stationary applications: techniques and economy; the renewable energies law (EEG), the biofuel quoting law (BioKraftQuG) and the energy tax law (EnergieStG).

  18. Changes in the Characteristics of Water-in-Oil-based High Internal ...

    African Journals Online (AJOL)

    HP

    Pharmacy, Faculty of Pharmacy and Alternative Medicine, the Islamia University of Bahawalpur 63100, ... and water-in-oil (W/O) systems with internal .... stresses were applied on the samples, and shear rates and .... Curr Opin Colloid Interfac.

  19. Politics and economics to shape international oil and gas activity

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that political and economic events play unusually strong roles in shaping worldwide oil and gas activity levels this year. Developments in the former U.S.S.R. will be critical. As the now-independent republics adopt new economic systems, production and demand patterns will change, as will exports from what has been the world's leading oil producer. Changing conditions in the Middle East among members of the Organization of Petroleum Exporting countries also will affect the industry in the year following the brief Persian Gulf war. Unless worldwide demand surges unexpectedly, these substantial additions to supply will tend to weaken oil prices in 1992

  20. The new great game : international oil markets; Middle East domination or regionalisation

    International Nuclear Information System (INIS)

    Odell, P.R.

    1998-01-01

    The dynamics of international supply and demand for oil and its effect on world oil prices are discussed. The impact of stagnant prices over the past 15 years on the Middle East, Russia, China and OPEC members was described, together with an attempt to explain the reasons for: (1) Middle East domination or regionalisation, (2) the emergence of a regionalized oil industry, (3) the Middle East as the residual supplier, and (4) the future of Middle East oil and of traded markets. 3 tabs., 5 figs

  1. International oil and gas exploration and development: 1991

    Energy Technology Data Exchange (ETDEWEB)

    1993-12-01

    This report starts where the previous quarterly publication ended. This first publication of a new annual series contains most of the same data as the quarterly report, plus some new material, through 1991. It also presents historical data covering a longer period of time than the previous quarterly report. Country-level data on oil reserves, oil production, active drilling rigs, seismic crews, wells drilled, oil reserve additions, and oil reserve-to-production rations (R/P ratios) are listed for about 85 countries, where available, from 1970 through 1991. World and regional summaries are given in both tabular and graphical form. The most popular table in the previous quarterly report, a listing of new discoveries, continues in this annual report as Appendix A.

  2. High internal phase emulsion (HIPE)-templated biopolymeric oleofilms containing an ultra-high concentration of edible liquid oil.

    Science.gov (United States)

    Wijaya, Wahyu; Van der Meeren, Paul; Dewettinck, Koen; Patel, Ashok R

    2018-04-25

    We report, for the first time, the fabrication of oleofilms (containing more than 97 wt% edible liquid oil) using high internal phase emulsions (with oil volume fraction φoil = 0.82) as templates. Advanced microscopy studies revealed an interesting microstructure of these films where jammed oil droplets were embedded in a dried matrix of biopolymeric complexes.

  3. Middle east and North African oil in international relations (from 1970 to these days)

    International Nuclear Information System (INIS)

    Rafie, Hossein

    1999-01-01

    Petroleum is not purely an economical product, its main role in world economy and its concentration in Middle East and North Africa (two third of world reserves) made influence international politics. Knowing the nature of the region, petroleum and politics make one. The politicization of oil in the region starts, first of all, with the efforts of some powers, through their companies, to dominate oil countries, which by reaction incite these countries to eliminate foreign domination and establish their national control on oil matters. The situation is changing progressively. The position of productive states got stronger with the beginning of the 1970's which permitted the use of oil, in a way relatively efficient, as an instrument of power. Consequently, the balance of power shifted deeply in the favor of producers. On this basis, the argument consists of three parts: the first puts theoretic bases - theory of economical arm - and defines geographical and historical environment of the research. The second part studies the period of force of the oil countries, from the fourth Israel-Arab war and oil embargo that followed it, to the end of the second oil slump. The third part explains the shift of power on the international scene and the relative decline of oil power for the states of the region. The analysis of impact of the oil slump in 1986 and the mini impact of the second Persian Gulf war, quickly dominated, lead to clear the actual situation and outline the viewpoint of the future. (author)

  4. The transformation of the global oil industry and its impact on international relations

    International Nuclear Information System (INIS)

    Appleyard, J.

    1994-01-01

    The transformations of ownership and control in the global oil industry since the first oil shock of 1974 are discussed and the impact of that change on several interconnected issues is explored. It is argued that structural changes in the industry affect interstate relations in ways that are of central concern to the discipline of international relations. Any likely future oil industry scenario will have considerable political and economic repercussions for both producer and consumer states, with a concommitant impact on the relations between those states more generally. There is a danger that interstate conflicts among oil producers will increase with perodic changes in the global supply and demand conditions for oil. Ways are suggested for international relations studies to take into account the change in the global oil industry and its impact on the distribution of power and on international order and justice. It is contended that a growing number of states must be considered as behaving much like firms in a competitive market, and the new international oil order both constrains and provides opportunities for those firm-like states. 20 refs

  5. Results of the International Energy Agency Round Robin on Fast Pyrolysis Bio-oil Production

    Energy Technology Data Exchange (ETDEWEB)

    Elliott, Douglas C.; Meier, Dietrich; Oasmaa, Anja; van de Beld, Bert; Bridgwater, Anthony V.; Marklund, Magnus

    2017-04-06

    An international round robin study of the production of fast pyrolysis bio-oil was undertaken. Fifteen institutions in six countries contributed. Three biomass samples were distributed to the laboratories for processing in fast pyrolysis reactors. Samples of the bio-oil produced were transported to a central analytical laboratory for analysis. The round robin was focused on validating the pyrolysis community understanding of production of fast pyrolysis bio-oil by providing a common feedstock for bio-oil preparation. The round robin included: •distribution of 3 feedstock samples from a common source to each participating laboratory; •preparation of fast pyrolysis bio-oil in each laboratory with the 3 feedstocks provided; •return of the 3 bio-oil products (minimum 500 ml) with operational description to a central analytical laboratory for bio-oil property determination. The analyses of interest were: density, viscosity, dissolved water, filterable solids, CHN, S, trace element analysis, ash, total acid number, pyrolytic lignin, and accelerated aging of bio-oil. In addition, an effort was made to compare the bio-oil components to the products of analytical pyrolysis through GC/MS analysis. The results showed that clear differences can occur in fast pyrolysis bio-oil properties by applying different reactor technologies or configurations. The comparison to analytical pyrolysis method suggested that Py-GC/MS could serve as a rapid screening method for bio-oil composition when produced in fluid-bed reactors. Furthermore, hot vapor filtration generally resulted in the most favorable bio-oil product, with respect to water, solids, viscosity, and total acid number. These results can be helpful in understanding the variation in bio-oil production methods and their effects on bio-oil product composition.

  6. Progress in reorganization of international oil industry and moves of majors

    Energy Technology Data Exchange (ETDEWEB)

    (Institute of Energy Economics, Tokyo (Japan))

    1988-10-15

    Of oil majors, Texaco, Chevron and Mobil have become depressed because of the sharp decrease in oil abundance due to the OPEC members' nationalization policy of resources in the first half of 1970's, whereas Exxon and Shell, who have made steady efforts in investment for exploration and development, have grown. BP has made a wide stride by acquisitions. Business acquisitions and mergers are increasing again in oil industries of Europe and U.S. with the dull oil price as the background. A particular feature of this trend is active involvement of western firms in North Sea oil. Oil producing countries are actively penetrating in downstream markets of consuming countries to establish stable selling routes. Whereas two directions are possible for changes in the international petroleum industry, that is, either coordinated action of producing countries and majors or increased competition among them, the age of co-existence and co-prosperity is most probable. 1 figure.

  7. International Oil Price’s Impacts on Carbon Emission in China’s Transportation Industry

    Directory of Open Access Journals (Sweden)

    Guoxing Zhang

    2014-09-01

    Full Text Available Purpose: This paper analyses the impact mechanism of international oil price on the industrial carbon emission, and uses the partial least squares regression model to study international oil price’s impact on carbon emissions in China’s transportation industry.Design/methodology/approach: This paper chooses five independent variables of GDP, international oil price, private car population, passenger and freight transportation volume as impact factors to investigate industrial carbon emissions, the paper also analyses the impact mechanism of international oil price on the industrial carbon emission, and finally the paper uses the partial least squares regression model to study international oil price’s impact on carbon emissions in China’s transportation industry. With the independent variables’ historical data from 1994 to 2009 as a sample, the fitting of the industry carbon emissions is satisfying. And based on the data of 2011, the paper maintains the private car owning, passenger and freight transportation volume to study international oil prices’ impact on the industry carbon emissions at different levels of GDP.Findings: The results show that: with the same GDP growth, the industry carbon emissions increase with the rise in international oil prices, and vice versa, the industry carbon emissions decrease; and lastly when GDP increases to a certain extent, in both cases of international oil prices’ rise or fall, the industry carbon emissions will go up, and the industry carbon emissions increase even faster while the energy prices are rising.Practical implications: Limit the growth in private-vehicle ownership, change China's transport sector within the next short-term in the structure of energy consumption and put forward China's new energy, alternative energy sources and renewable energy application so as to weaken the dependence on international oil, and indirectly slowdown China's GDP growth rate, which are all possible

  8. Composition of traders in live cattle futures contracts : behavior and implications to price discovery

    OpenAIRE

    Rowsell, John

    1991-01-01

    The concepts of risk transfer and price discovery are well developed roles for futures markets. The interaction between traders in futures markets in the transferring and acceptance of price risk contributes to the discovery of price. Interaction of traders in the risk transfer and price discovery processes is examined in this dissertation. Data employed were for live cattle futures at the Chicago Mercantile Exchange developed from the confidential daily records of reporting trader positions ...

  9. Emotion regulation and trader expertise: heart rate variability on the trading floor

    OpenAIRE

    Fenton-O'Creevy, Mark; Lins, Jeffrey; Vohra, Shalini; Richards, Daniel; Davies, Gareth; Schaaff, Kristina

    2012-01-01

    We describe a psychophysiological study of the emotion regulation of investment bank traders. Building on work on the role of emotions in financial decision-making, we examine the relationship between market conditions, trader experience and emotion regulation whilst trading, as indexed by high frequency heart rate variability (HF HRV). We find a significant inverse relationship between HF HRV and market volatility and a positive relationship between HF HRV and trader experience. We argue tha...

  10. Thinking, feeling and deciding: the influence of emotions on the decision making and performance of traders

    OpenAIRE

    Fenton-O'Creevy, Mark; Soane, Emma; Nicholson, Nigel; Willman, Paul

    2011-01-01

    We report on a qualitative investigation of the influence of emotions on the decision-making of traders in four City of London investment banks, a setting where work has been predominantly theorized as dominated by rational analysis. We conclude that emotions and their regulation play a central role in traders' decision-making. We find differences between high and low performing traders in how they engage with their intuitions, and that different strategies for emotion regulation have materia...

  11. Games for electricity traders: Understanding risk in a deregulated industry

    Energy Technology Data Exchange (ETDEWEB)

    Dyner, Isaac [Energy Institute, CeiBA-Complexity Center, Universidad Nacional de Colombia AA 1027 Medellin (Colombia)], E-mail: idyner@unalmed.edu.co; Larsen, Erik [Faculty of Economics, University of Lugano, Via Buffi 13 CH-6900 Lugano (Switzerland)], E-mail: erik.larsen@lu.unisi.ch; Franco, Carlos Jaime [Energy Institute, CeiBA-Complexity Center, Universidad Nacional de Colombia AA 1027 Medellin (Colombia)], E-mail: cjfranco@unalmed.edu.co

    2009-02-15

    We illustrate and discuss the use of a computer-based learning environment, known as a microworld, for training agents in the Colombian electricity market. As the market operator was concerned with efficiency in the electricity spot market because of an insufficient number of participants, they commissioned a tool that could help potential participants to learn about both market operation as well as the risk management it involved. By making the industry more transparent it was intended that a larger number of traders and companies would participate in the market, making it more efficient. We describe the development and use of this tool, which is based on system dynamics and gaming.

  12. Games for electricity traders. Understanding risk in a deregulated industry

    Energy Technology Data Exchange (ETDEWEB)

    Dyner, Isaac; Franco, Carlos Jaime [Energy Institute, CeiBA-Complexity Center, Universidad Nacional de Colombia AA 1027 Medellin (Colombia); Larsen, Erik [Faculty of Economics, University of Lugano, Via Buffi 13 CH-6900 Lugano (Switzerland)

    2009-02-15

    We illustrate and discuss the use of a computer-based learning environment, known as a microworld, for training agents in the Colombian electricity market. As the market operator was concerned with efficiency in the electricity spot market because of an insufficient number of participants, they commissioned a tool that could help potential participants to learn about both market operation as well as the risk management it involved. By making the industry more transparent it was intended that a larger number of traders and companies would participate in the market, making it more efficient. We describe the development and use of this tool, which is based on system dynamics and gaming. (author)

  13. Games for electricity traders. Understanding risk in a deregulated industry

    International Nuclear Information System (INIS)

    Dyner, Isaac; Franco, Carlos Jaime; Larsen, Erik

    2009-01-01

    We illustrate and discuss the use of a computer-based learning environment, known as a microworld, for training agents in the Colombian electricity market. As the market operator was concerned with efficiency in the electricity spot market because of an insufficient number of participants, they commissioned a tool that could help potential participants to learn about both market operation as well as the risk management it involved. By making the industry more transparent it was intended that a larger number of traders and companies would participate in the market, making it more efficient. We describe the development and use of this tool, which is based on system dynamics and gaming. (author)

  14. Deducing the multi-trader population driving a financial market

    Science.gov (United States)

    Gupta, Nachi; Hauser, Raphael; Johnson, Neil

    2005-12-01

    We have previously laid out a basic framework for predicting financial movements and pockets of predictability by tracking the distribution of a multi-trader population playing on an artificial financial market model. This work explores extensions to this basic framework. We allow for more intelligent agents with a richer strategy set, and we no longer constrain the distribution over these agents to a probability space. We then introduce a fusion scheme which accounts for multiple runs of randomly chosen sets of possible agent types. We also discuss a mechanism for bias removal on the estimates.

  15. Proceedings of the 2. international oil sands tailings conference

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    The tailings produced by oil sands extraction processes pose significant threats to the surrounding environment in addition to releasing greenhouse gases (GHGs) into the atmosphere. Recent directives have been established to reduce the amount of tailings produced at oil sands operations, and to ensure that tailings ponds are reclaimed in the most effective manner. This conference provided a forum for researchers and industry experts to discuss issues related to the management and reclamation of oil sands tailings. New technologies for dewatering tailings ponds were presented, and methods of analyzing the chemical properties of tailings were reviewed. The conference was divided into the following 7 sessions: (1) tailings properties, (2) tailings dewatering, (3) new concepts, (4) water and chemistry, (5) soft tailings stabilization and reclamation, (6) water treatment, and (7) new concepts 2. The conference featured 44 presentations, all of which have been catalogued separately for inclusion in this database. tabs., figs.

  16. Automobile industry and new bio-fuel oils: International panorama

    International Nuclear Information System (INIS)

    Hampel, G.

    1992-01-01

    In assessing the technical/economic feasibility of the direct combustion of vegetable oils in diesel type engines, this paper first points out the good results obtained in performance tests on these fuels in Elsberg engines, and their low sulfur and nitrogen oxides and carbon dioxide emission characteristics. It then assesses the improvements that are necessary in the development of marketable bio-fuel oils that conform to European Communities air pollution standards for automobiles. Further efforts must be made to reduce bio-fuel oil smoke emission levels, to compensate for their lower calorific value as compared with conventional diesel fuels, and to make them compatible with automobile finishing materials - paints and plastics. The paper suggests a set of suitable fiscal policies designed to favour the marketing of bio-diesel fuels based on their favourable pollution abating qualities - low greenhouse gas emissions and biodegradability

  17. Dynamics of trade between the formal sector and informal traders

    Directory of Open Access Journals (Sweden)

    Cyril Nhlanhla Ngiba

    2011-04-01

    Full Text Available The informal sector in South Africa is a significant, but not well understood phenomenon. One important question relates to the nature of the relationship between the formal and informal sector. This article uses Porter’s five forces model to interrogate the linkages between informal fruit and vegetable traders in the Natalspruit Market (Ekurhuleni and their formal suppliers, primarily the Johannesburg Fresh Produce Market. While the threat of new products is low, the street traders’ position is weakened by the threat of new entrants, consumer bargaining power and lack of cooperation among street traders. In relation to supplier power, we conclude that while this varies according to a number of factors, the formal sector is dominant over informal fruit and vegetable sellers in this market. This finding rests primarily on the observation that, because of their fragmentation, the informal traders’ collective buying power is not being used in the same way as large formal retailers of fruit and vegetables to obtain better terms of trade with the formal economy supplier.

  18. New Vertical Marketing of Producers and Small Traders

    Directory of Open Access Journals (Sweden)

    Zdenko Segetlija

    2009-12-01

    Full Text Available In relations of producers and small traders, diferent forms of vertical marketing develop a long time. However, under the contemporary conditions of retail global companies, the question is frst about conception of products categories called category management – CM. Namely, the prerequisites of business success of contemporary retail economic subjects in new highly competitive environment hide in the implementation of new managing conceptions and new technologies. This paper first gives a short analysis of some former theoretical cooperation viewpoints of producers and traders in marketing channels; later, it analyzes the basic assumptions of new vertical marketing on which rests the conception of category management. Besides, the paper states the application possibilities of the stated conception from the trader’s point of view. The basic hypothesis from which the authors start is the indispensability of vertical marketing application in the relations of contemporary retail economic subjects and producers in all market economies and the implementation of category management in its structure.

  19. Competitive strategies and strategic positioning of oil companies in the international oil business: theory and practice in perspective

    International Nuclear Information System (INIS)

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

    1999-01-01

    This is the first work of a series of four articles aiming to analyse the concepts of competitive strategy and strategic positioning of firms in the international oil industry. The authors present the essence of their analytical model, which are based on the theoretical framework of competitive strategy developed by Michael Porter, from the University of Harvard. The second article is published hereunder, the third and fourth ones will appear in the next issue. (authors)

  20. Eleventh CERI [Canadian Energy Research Inst.] international oil and gas markets conference

    International Nuclear Information System (INIS)

    1992-01-01

    At a conference on international oil and gas markets, papers were presented on world oil and gas markets; energy policies; regulatory policies; supply and demand scenarios; environmental issues; the markets and industries in individual countries such as the former Soviet Union, USA, Canada, and the United Kingdom; business strategies; geopolitics of energy; and coalbed methane supplies. Separate abstracts have been prepared for 22 papers from this conference

  1. The effect of oil additives on exhaust emission of internal combustion engines

    International Nuclear Information System (INIS)

    Dimitrovski, M.B.; Kuzmanovski, K.A.

    1999-01-01

    An attempt was conducted to acquire data on connection between motor oil and motor oil additives and exhaust emission of internal combustion engine. The consulted literature did not contain enough data, so experiments were conducted. The results of the experiments are presented on diagrams that have been processed in the computer program EXCEL. Conclusions that were made out of that work show the need of expanding research on the subject. (Author)

  2. Oil Shocks through International Transport Costs: Evidence from U.S. Business Cycles

    OpenAIRE

    Hakan Yilmazkuday

    2011-01-01

    The effects of oil shocks on output volatility through international transport costs are investigated in an open-economy DSGE model. Two versions of the model, with and without international transport costs, are structurally estimated for the U.S. economy by a Bayesian approach for moving windows of ten years. For model selection, the posterior odds ratios of the two versions are compared for each ten-year window. The version with international transport costs is selected during periods of hi...

  3. Acoustically damped metal oil trough for internal combustion engines. Schallgedaempfte Blech-Oelwanne fuer Brennkraftmaschinen

    Energy Technology Data Exchange (ETDEWEB)

    Kubis, H.

    1991-03-28

    The invention refers to an acoustically damped oil trough. As there are strict requirements for reducing the noise emission from internal combustion engines, according to the invention it is proposed that the oil trough should be surrounded by an outer trough, where the outer trough is made of plastic or sheet steel in one or more layers. To avoid noise bridges, the oil trough and outer trough are separated by elastomer elements. The outer trough achieves a reasonably priced increase in sound insulation. It is also possible to backfit an outer trough on engines.

  4. When Construction Material Traders Goes Electronic: Analysis of SMEs in Malaysian Construction Industry

    OpenAIRE

    Dzul Fahmi Nordin; Rosmini Omar

    2012-01-01

    This paper analyzed the perception of e-commerce application services by construction material traders in Malaysia. Five attributes were tested: usability, reputation, trust, privacy and familiarity. Study methodology consists of survey questionnaire and statistical analysis that includes reliability analysis, factor analysis, ANOVA and regression analysis. The respondents were construction material traders, including hardware stores in Klang Valley, Kuala Lumpur. Find...

  5. Who's out there? A profile of informal traders in four South African ...

    African Journals Online (AJOL)

    A profile of informal traders in four South African city central business districts. ... Town and Regional Planning ... By using data gathered among street traders in four major metropolitan areas of South Africa, this article seeks to provide a current profile of individuals that are involved in street trading in South African cities.

  6. Economics of palm oil marketing in Owerri, Imo State, Nigeria ...

    African Journals Online (AJOL)

    Economics of palm oil marketing in Owerri, Imo State, Nigeria. ... Data on trades socio economic factors, marketing cost and marketing margin were collected from 80 traders randomly selected from the ... EMAIL FULL TEXT EMAIL FULL TEXT

  7. Oil and gas in China: The door opens wider to international oil companies

    International Nuclear Information System (INIS)

    Tao, Wang

    1993-01-01

    This paper reviews new incentives offered by the China National Petroleum Corporation to help develop China's oil and gas fields. The initial offer for bids by foreign investors is for exploration and joint development contracts for western China's Tarim basin. However, the expansion to other basins and areas of China is well underway. It also discusses a pipeline project which will be connect the western China oil and gas fields with the eastern markets, approximately 2,200 miles. A historical review of the oil and gas production and utilization of China is presented along with forecasts of future production. It also provides estimates of gas and oil reserves and information on enhanced recovery techniques used to maintain a stable production level. The second half of the paper is an interview with Dr. Wang Tao, a PhD graduate of Moscow's Petroleum Institute, and president of the China National Petroleum Corporation. He reviews the government policies with regards to foreign investment in his country

  8. Hoarding and community in Star Wars Card Trader

    Directory of Open Access Journals (Sweden)

    Jeremy Groskopf

    2016-09-01

    Full Text Available Transitioning collectibles from the physical to the digital sphere changes the culture of collecting by increasing the accessibility of trading partners and adding digital limitations on personal interaction. In this analysis, I examine the collecting game Star Wars Card Trader (2015 and its culture of mass hoarding—the collecting of vast quantities of a single, valueless digital object—through which players reintroduce elements of personality, camaraderie, and nonrivalrous collecting into a system designed primarily for anonymous profitable acquisition. Via an analysis of player behaviors both within the game itself and in online venues, I argue that mass hoarding—a user invention—acts as the central community-building behavior in this digital realm. Mass hoarding is thus a clear indication that even in the digital realm, human personalities and relationships are vital to the construction of collecting as a pastime that is more complex than an investment opportunity.

  9. Eye health in Tanzania: An essential oil | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2016-11-25

    Nov 25, 2016 ... The consequences are disastrous: among children, vitamin A deficiency stunts ... Southern and Central Africa, at Mennonite Economic Development Associates ... The initiative, supported primarily by Canada's International ...

  10. Oils

    Energy Technology Data Exchange (ETDEWEB)

    Cobbett, G T.B.

    1907-07-08

    Crude petroleum having a density of 850 to 900 is purified with sulfuric acid, decanted, mixed with benzine or petrol, and again treated with sulfuric acid and decanted. The remaining acid and coloring-matter are removed by washing with water, or treating with oxalic acid, zinc carbonate, lead carbonate, calcium carbonate, or oxide of zinc. The product is used as a fuel for internal-combustion engines. Specifications No. 28,104, A.D. 1906, and No. 12,606, A.D. 1907, are referred to. According to the Provisional Specification, the process is applicable to shale or schist oil.

  11. Impact of International Oil Price on Energy Conservation and Emission Reduction in China

    Directory of Open Access Journals (Sweden)

    Jian Chai

    2016-05-01

    Full Text Available In the context of “new normal” economy and frequent “haze”, the strategy of energy conservation and emission reduction aiming to lower costs and reduce pollution is currently still a major strategic direction in China and the world, and will remain so for some time in the future. This paper uses the annual data of West Texas Intermediate (WTI crude oil price in 1987–2014 as samples. We firstly present the direction and mechanism of the influence of oil price change on total consumption of every kind of energy by path analysis, and then consider establishing a Structural Vector Autoregression model of energy conservation and emission reduction in three statuses. Research shows that if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.092% and 0.053% respectively in the corresponding period. In the status of high energy consumption and high emission, if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.043% and 0.065% respectively in the corresponding period. In the status of low energy consumption and low emission, if the international oil price increases by 1%, the energy consumption per GDP per unit increases by 0.067% and carbon dioxide emission decreases by 0.085% in the corresponding period.

  12. A Computational Study of Internal Flows in a Heated Water-Oil Emulsion Droplet

    KAUST Repository

    Sim, Jaeheon

    2015-01-05

    The vaporization characteristics of water-oil emulsion droplets are investigated by high fidelity computational simulations. One of the key objectives is to identify the physical mechanism for the experimentally observed behavior that the component in the dispersed micro-droplets always vaporizes first, for both oil-in-water and water-in-oil emulsion droplets. The mechanism of this phenomenon has not been clearly understood. In this study, an Eulerian-Lagrangian method was implemented with a temperature-dependent surface tension model and a dynamic adaptive mesh refinement in order to effectively capture the thermo-capillary effect of a micro-droplet in an emulsion droplet efficiently. It is found that the temperature difference in an emulsion droplet creates a surface tension gradient along the micro-droplet surface, inducing surface movement. Subsequently, the outer shear flow and internal flow circulation inside the droplet, referred to as the Marangoni convection, are created. The present study confirms that the Marangoni effect can be sufficiently large to drive the micro-droplets to the emulsion droplet surface at higher temperature, for both water-in-oil and oil-and-water emulsion droplets. A further parametric study with different micro-droplet sizes and temperature gradients demonstrates that larger micro-droplets move faster with larger temperature gradient. The oil micro-droplet in oil-in-water emulsion droplets moves faster due to large temperature gradients by smaller thermal conductivity.

  13. Liability and compensation for oil pollution damage: some current threats to the international convention system

    International Nuclear Information System (INIS)

    Chao Wu

    2002-01-01

    The carriage of oil is indispensable to the industrialized nations. In this respect, the carriage of oil is undertaken as a service to society as a whole with its individual members deriving benefits from its carriage to varying degrees. Consequently, after examining the four Conventions in the international system of compensation for oil pollution from ships, it is argued that the general citizenship of those nations pay, in exceptional cases, for a small share of the risk, which is created in part by the citizens, as users of oil. The paper proposes the creation of a fund of last resort that could be conceived either at a regional level or a national level and financed through (indirect) taxation on the population as a whole. This type of fund could have a wider use in the field of marine pollution and protection of marine resources. (author)

  14. 75 FR 58012 - 30-Day Notice of Proposed Information Collection: DS-156E Nonimmigrant Treaty Trader/Investor...

    Science.gov (United States)

    2010-09-23

    ... Information Collection: DS-156E Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for... Collection: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: 1405-0101. Type of Request... State (CA/VO). Form Number: DS-156E. Respondents: Nonimmigrant treaty trader/investor visa applicants...

  15. 75 FR 25910 - 60-Day Notice of Proposed Information Collection: DS-156E, Nonimmigrant Treaty Trader/Investor...

    Science.gov (United States)

    2010-05-10

    ..., Nonimmigrant Treaty Trader/Investor Application, OMB Control Number 1405-0101 ACTION: Notice of request for...: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: 1405-0101. Type of Request: Extension of a...) Form Number: DS-156E. Respondents: Nonimmigrant treaty trader/investor visa applicants. Estimated...

  16. Overview of the compensation and liability regimes under the International Oil Pollution Compensation Fund (IOPC)

    Energy Technology Data Exchange (ETDEWEB)

    Wren, John [Department of Environment, Transport and the Regions, Shipping Policy Div., London (United Kingdom)

    2000-08-01

    This paper focuses on the cost recovery issues arising through the operation of the International Oil Pollution Compensation Fund (IOPC) and administrative matters which arose following the Braer and Sea Empress oil tanker pollution incidents in the UK. Each of these oil spills brought very different problems. Any major oil spill will have prolonged economic and social consequences for the communities affected. Membership of the International Oil Pollution Compensation Fund (IOPC Fund) will do much to soften the impact as regards economic damage. However, the operation of the Fund brings difficulties which may not have been considered by the administration prior to the spill. Some of the difficulties are foreseeable. It covers details of the international compensation and liability regimes, it considers a number of administrative consequences and highlights seven lessons that have been learned in the UK in the light of recent experience. These lessons are: Claims may not be paid quickly or in full. Claimants will need advice and government involvement. Action by the government may be needed to complement the IOPC Fund. Governments have to balance their obligations as a member state with the needs of claimants. It is better for claimants to keep matters out of court for as long as possible. Administrative consequences will continue for a long time after the oil has been cleared from the shore-line. Each major oil spill brings different cost recovery problems and will also bring demands 'to learn the lessons'. In much the same way as contingency plans are regularly tested, each state party to the regime would be wise, from time to time, to think through the likely scenarios so as to better prepare themselves in the light of experiences elsewhere. The United Kingdom has had rather more experience in recent years than it would have wished. (Author)

  17. Overview of the compensation and liability regimes under the International Oil Pollution Compensation Fund (IOPC)

    International Nuclear Information System (INIS)

    Wren, John

    2000-01-01

    This paper focuses on the cost recovery issues arising through the operation of the International Oil Pollution Compensation Fund (IOPC) and administrative matters which arose following the Braer and Sea Empress oil tanker pollution incidents in the UK. Each of these oil spills brought very different problems. Any major oil spill will have prolonged economic and social consequences for the communities affected. Membership of the International Oil Pollution Compensation Fund (IOPC Fund) will do much to soften the impact as regards economic damage. However, the operation of the Fund brings difficulties which may not have been considered by the administration prior to the spill. Some of the difficulties are foreseeable. It covers details of the international compensation and liability regimes, it considers a number of administrative consequences and highlights seven lessons that have been learned in the UK in the light of recent experience. These lessons are: Claims may not be paid quickly or in full. Claimants will need advice and government involvement. Action by the government may be needed to complement the IOPC Fund. Governments have to balance their obligations as a member state with the needs of claimants. It is better for claimants to keep matters out of court for as long as possible. Administrative consequences will continue for a long time after the oil has been cleared from the shore-line. Each major oil spill brings different cost recovery problems and will also bring demands 'to learn the lessons'. In much the same way as contingency plans are regularly tested, each state party to the regime would be wise, from time to time, to think through the likely scenarios so as to better prepare themselves in the light of experiences elsewhere. The United Kingdom has had rather more experience in recent years than it would have wished. (Author)

  18. Changes in the Characteristics of Water-in-Oil-based High Internal ...

    African Journals Online (AJOL)

    Changes in the Characteristics of Water-in-Oil-based High Internal Phase Emulsion Containing Moringa Leaves Extract at Various Storage Conditions. ... Conclusion: Moringa HIPE showed stability and can be guided exclusively to protect skin against ultraviolet radiation-mediated oxidative damage. Keywords: Moringa ...

  19. Outward bound: Unprecedented opportunity lures all Canadian energy sectors to international oil scene

    International Nuclear Information System (INIS)

    Jaremko, G.

    1998-01-01

    The global dimensions of Canadian energy enterprises were reviewed. It has been found that as the Western Canadian Sedimentary Basin is getting more mature, the opportunities in Canada are declining, hence the worldwide involvements of Canadian oil and service and supply companies in exploration, drilling, production and servicing in many parts of the world. Canadian Occidental Petroleum in Yemen, Canadian Fracmaster in Russia, Destiny Resource Services in South America, Gabon, Yemen and Papua New Guinea, Pacalta Resources Limited in Ecuador, Talisman Energy in Indonesia, TransCanada Pipelines, Ocelot Energy Inc and Nova Corporation building pipelines in South America and in Zambia, and Atco everywhere, are just some of the examples cited. So far, Canadian push abroad is short of a rush as only 10 per cent of spending and production by Canadian oil and gas companies is overseas, compared to 50 per cent for Americans. The ratio is about the same for Canadian service and supply companies. Canada has the advantage of being almost the only industrial society without an unpleasant imperial past. That, combined with the 'nice guy' image of the maple leaf will inevitably lead to even greater Canadian share of the international oil and gas business. The decline in the traditional role of U. S. companies in global oil markets after 1985 (according to a recent API report) and the tremendous opportunities created by the opening of the former Soviet Union to foreign capital will also contribute to enhancing the international role played by Canadian oil, gas, and service and supply companies

  20. The upstream oil and gas industry's initiative in the development of international standards

    International Nuclear Information System (INIS)

    Thomas, G.A.N.; Thorp, G.

    1993-01-01

    The paper describes the international work of the oil industry to formalize as International Standards many of the industry standards used world-wide. It also describes how matters have been developing in Europe. E and P Forum, representing the international exploration and production oil and gas industry, provides a forum for coordinating industry standardization, to ensure that the necessary standards are maintained by the appropriate technical body. The paper discusses the development of the standardization program in ISO/TC67, the Technical Committee directing the transformation of some 70 API Standards into ISO Standards and the relationship to CEN (the European standardization body). The objective of the upstream industry is to operate worldwide to consistent international standards. Company standards can then concentrate on functional and performance requirements. This will facilitate international trade and communication, open competition and the global market. For a practical realization of this objective the oil industry must foster a special relationship between the relevant US bodies, ISO and CEN. The sustained support of all sides of industry is required

  1. 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

  2. How the national prices impact the international activity? The case of oilive oil market in Spain

    OpenAIRE

    Aubert, Magali; Demaria, Federica; Gutiérrez-Salcedo, Maria

    2014-01-01

    Olive oil plays an important role in the European Union countries where Spain, Italy and Greece are the main actors. Spain industry knew a flourished period by confirming its own leadership in this sector. Spain is the main olive oil producer and exporter in the world. Starting from this evidence, the main objective of this work is that of analysing the price transmission at the national level to understand in which way this activity has some impact on the international ones. At first we look...

  3. Research on the trend of Yen exchange rate and international crude oil price fluctuation affected by Japan’s earthquake

    Directory of Open Access Journals (Sweden)

    Xiaoguang Li

    2014-05-01

    Full Text Available Purpose: Whether this earthquake would become a turning point of the high oil price and whether it would have big impact on yen exchange rate are two issues to be discussed in this paper.Design/methodology/approach: To analyze deeply the internal relations between changes in yen exchange rate caused by Japan’s earthquake and price fluctuation of international crude oil, this research chooses middle rate of yen exchange rate during the 45 days around Japan’s earthquake and price data of international crude oil to do an empirical study, uses VAR model and HP trend decomposition to estimate the mutual effect of yen exchange rate change and price fluctuation of international crude oil in this period.Findings: It has been found in the empirical study with VAR model and HP filter decomposition model on the yen exchange rate and the international crude oil price fluctuation during 45 days around Japan’s earthquake that: the fluctuation of yen exchange rate around the earthquake is one of the main reasons for the drastic fluctuation of international crude oil price in that period. The fluctuation of international crude oil price directly triggered by yen exchange rate occupies 13.54% of its total variance. There is a long-term interactive relationship between yen exchange rate and international crude oil price. The upward trend of international crude oil price after the earthquake was obvious, while yen exchange rate remained relatively stable after the earthquake.Originality/value: As economic globalization goes deeper, the influence of natural disasters on international financial market and world economy will become more and more obvious. It has a great revelatory meaning to studying further each kind of natural disaster’s impacts on international financial market and world economics.

  4. Insider Trading: Isu Etika, Peraturan dan Sudut Pandang Trader

    Directory of Open Access Journals (Sweden)

    Arief Zuliyanto Susilo

    2016-03-01

    Full Text Available Basically all humans are ethical. When a person experiences an inner conflict in the act is less precise, it is a sign that the person has ethics. Basically also that every person, especially the economic actors are individuals who have opportunistic nature. Options for increasing the personal wealth without thinking of the other party, as long as does not violate or potentially against the law, will be performed. Act of buying and selling by the parties in a debate that still has not led. The researchers have delivered a variety of rationale. Insider trading like a double-edged sword, on the one hand can be stretched buying and selling stocks, on the other hand have an impact on the loss for the other party. Various attempts have been made to remove the various agencies insider trading activities, but insider trading is an activity that is sometimes very difficult to detect and impossible someone dibatas right to sell his possessions. By using literature review and interviews with traders, it was concluded that insider trading will occur if the beneficial regardless of ethical problems. There needs analysis and proper consideration in determining the classification cutoff ethical or not insider trading or selling the permissible limits.

  5. A combination of dopamine genes predicts success by professional Wall Street traders.

    Science.gov (United States)

    Sapra, Steve; Beavin, Laura E; Zak, Paul J

    2012-01-01

    What determines success on Wall Street? This study examined if genes affecting dopamine levels of professional traders were associated with their career tenure. Sixty professional Wall Street traders were genotyped and compared to a control group who did not trade stocks. We found that distinct alleles of the dopamine receptor 4 promoter (DRD4P) and catecholamine-O-methyltransferase (COMT) that affect synaptic dopamine were predominant in traders. These alleles are associated with moderate, rather than very high or very low, levels of synaptic dopamine. The activity of these alleles correlated positively with years spent trading stocks on Wall Street. Differences in personality and trading behavior were also correlated with allelic variants. This evidence suggests there may be a genetic basis for the traits that make one a successful trader.

  6. 11. PO Ngesa African Women Commuter Traders in Nairobi in the ...

    African Journals Online (AJOL)

    REGINALDS

    Thought and Practice: A Journal of the Philosophical Association of Kenya (PAK) .... The history of women commuter traders in present day Nairobi goes back to pre- ... The African market became a focal point in the continuing women's trade,.

  7. Affective, parochial or innovative? Aleppo traders on the margin of global capitalism

    Directory of Open Access Journals (Sweden)

    Annika Rabo

    2012-02-01

    Full Text Available This article scrutinizes three different, and possible, ways to depict traders in contemporary Aleppo. They can be seen as sharing a distinct culture, as representatives of the petite bourgeoisie, or as examples of entrepreneurs. While all these approaches tell us something about the Aleppo traders, these approaches have great limitations, not least since the latter two – each in its own way – are utility-oriented. It is, I will rather argue, important to analyze Aleppo traders as affective, parochial and innovative, at the same time. Although Aleppo traders find themselves on the margins of global capitalism, they can, in fact, be studied in order to understand salient features of the contemporary world. We have a new affective economy where personalities, emotions and sensibilities are put on the market. The article is based on material collected during social anthropological fieldwork in Aleppo between 1997 and 2003, but mainly carried out in 1998-1999.

  8. Oil substitution and energy saving - A research and development strategy of the International Energy Agency /IEA/

    Science.gov (United States)

    Rath-Nagel, S.

    1981-03-01

    Systems analyses were carried out by the International Energy Agency for the participating 15 countries in order to work out strategies and scenarios for lessening the dependence on imported oil and for developing new energy technologies. MARKAL model computations show the technology and energy mixes necessary for achieving a reduction of oil imports by two thirds over the next 40 years. The scenario 'high social security' examines the projected rise in energy consumption, the development of oil substitutes, the increase in alternative heating sources, the development of markets for liquid energy products, the demand for gas, and the relative usage of various energy generation methods. The recommended strategy involves as the most important points an increase in coal consumption, greater nuclear energy reliance and development of alternative technologies.

  9. The governance of international oil: the changing rules of the game

    International Nuclear Information System (INIS)

    Mommer, Bernard

    2000-01-01

    This paper deals with upstream oil where it is conventionally assumed that the game is about rent capturing involving two parties: the governments owning the natural resource, and the international companies. There is, however, a third party to the game: the governments of consuming countries. The issues, therefore, are not only about rent; they also relate to prices. As a matter of fact, the game strategically is about prices, and only tactically about the capturing of rent. It is at the strategic level that the governance structure of oil has to be analysed. This structure defines the rules determining the oil price level in the long term, to which the tactical rules of rent capturing are subordinated. (Author)

  10. Socioeconophysics:. Opinion Dynamics for Number of Transactions and Price, a Trader Based Model

    Science.gov (United States)

    Tuncay, Çağlar

    Involving effects of media, opinion leader and other agents on the opinion of individuals of market society, a trader based model is developed and utilized to simulate price via supply and demand. Pronounced effects are considered with several weights and some personal differences between traders are taken into account. Resulting time series and probabilty distribution function involving a power law for price come out similar to the real ones.

  11. Forming Factors And Builder Indicators Of Brand Personality Models In Traditional Retail Traders

    Directory of Open Access Journals (Sweden)

    Yunelly Asra

    2017-12-01

    Full Text Available This study aims to find the factors forming and indicator builder model of brand personality of traditional retail traders through measuring the influence of retail mix and culture. The formation of brand personality uses Aaker brand personality dimension to 250 consumers in Bengkalis Regency. The type of research is causal research design. The research variables are brand personality Retail Mix and Brand Personality. Data collection is done by probability sampling with purposive method. Data analysis was done by perception analysis frequency distribution and multiple regression using SPSS version 21.0. The results of this study are The factor of retail mix partially has a positive and significant impact on the brand personality of traditional retail traders in Bengkalis Regency. Factor cultural partially does not affect the brand personality of traditional retail traders in Bengkalis Regency. Simultaneously retail mix and cultural have positive and significant influence on traditional brand traders brand personality in Bengkalis Regency. Initial forming factor of brand personality model of traditional retail traders in Bengkalis Regency is Retail Mix Factor. Indicator of the model of traditional traders brand personality builder in Bengkalis are sincerity excitement competence sophistication competence ruggedness.

  12. Confidant par excellence, advisors and healers: women traders' intersecting identities and roles in Senegal.

    Science.gov (United States)

    Lo, Marieme S

    2013-01-01

    Characteristics associated with West African women traders often hinge on their resilience, ingenuity and savvy business practices under precarious economic conditions and changing ecologies. Moreover, traders are defined, identified and classified by their trade and the commodities associated with their trading practice. However, a social analysis and ethnography of trading practices challenges this taxonomy and suggests the relational and social embeddedness of such economic transactions and the unexpected intersecting roles traders perform as confidants, advisers and healers. This paper examines the multiple roles that Senegalese traders embody and perform and the vast repertoire of knowledge and cultural registers they employ as advisers on sexuality, matrimonial affairs and conjugality. It posits to reframe trade and the marketplace, not only as a fulcrum of economic transaction, but also as locus of affective interactions, performative-counselling practices and fluid space where traders impart knowledge to their female clientele on a wide spectrum of issues such as sexuality, conjugality and the aesthetics of intimacy. Lastly, it seeks to unveil new analytics and theorising on the evolving, embodied and performative roles of women traders and market women, while proving contextual and culturally-textured insights on 'counselling' and its interpretation in Senegal.

  13. Tracking traders' understanding of the market using e-communication data.

    Science.gov (United States)

    Saavedra, Serguei; Duch, Jordi; Uzzi, Brian

    2011-01-01

    Tracking the volume of keywords in Internet searches, message boards, or Tweets has provided an alternative for following or predicting associations between popular interest or disease incidences. Here, we extend that research by examining the role of e-communications among day traders and their collective understanding of the market. Our study introduces a general method that focuses on bundles of words that behave differently from daily communication routines, and uses original data covering the content of instant messages among all day traders at a trading firm over a 40-month period. Analyses show that two word bundles convey traders' understanding of same day market events and potential next day market events. We find that when market volatility is high, traders' communications are dominated by same day events, and when volatility is low, communications are dominated by next day events. We show that the stronger the traders' attention to either same day or next day events, the higher their collective trading performance. We conclude that e-communication among traders is a product of mass collaboration over diverse viewpoints that embodies unique information about their weak or strong understanding of the market.

  14. Tracking traders' understanding of the market using e-communication data.

    Directory of Open Access Journals (Sweden)

    Serguei Saavedra

    Full Text Available Tracking the volume of keywords in Internet searches, message boards, or Tweets has provided an alternative for following or predicting associations between popular interest or disease incidences. Here, we extend that research by examining the role of e-communications among day traders and their collective understanding of the market. Our study introduces a general method that focuses on bundles of words that behave differently from daily communication routines, and uses original data covering the content of instant messages among all day traders at a trading firm over a 40-month period. Analyses show that two word bundles convey traders' understanding of same day market events and potential next day market events. We find that when market volatility is high, traders' communications are dominated by same day events, and when volatility is low, communications are dominated by next day events. We show that the stronger the traders' attention to either same day or next day events, the higher their collective trading performance. We conclude that e-communication among traders is a product of mass collaboration over diverse viewpoints that embodies unique information about their weak or strong understanding of the market.

  15. The challenge of the second oil boom? [3. Millenium International Petroleum Conference

    International Nuclear Information System (INIS)

    Wells, M.

    1997-01-01

    The Third Millennium International Petroleum Conference is briefly reported at which the competitive challenges faced by the upstream industry were considered. An oil industry wanting to be successful in facing these challenges was perceived by Mobil Oil's Vice-President of Global Business Strategy as requiring the following attributes: the ability to partner with others; a truly global perspective; a balanced portfolio to manage risk; strong technological orientation; the capacity to attract an innovative work-force. The new background of energy geopolitics brought about by the integration of Russia, the CIS countries, China and India into the world market economy, was sketched by the former Exploration Director of Premier Oil. Attention was drawn to the concern and tension being created in the Middle East by the restructuring of oil and gas development arising out of the current US containment foreign policy. This policy is changing the geographical focus and regional strategies of US oil companies and contractors. Some examples of these were presented in papers by other US participants. Contributions from natioan producing companies from other countries demonstrated the opportunities offered to foreign countries by increased liberalisation. (UK)

  16. Dynamic Oil Consumption Measurement of Internal Combustion Engines using Laser Spectroscopy.

    Science.gov (United States)

    Sellmeier, Stefan; Alonso, Eduardo; Boesl, Ulrich

    2014-01-07

    A new approach has been developed to measure dynamic consumption of lubricant oil in an internal combustion engine. It is based on the already known technique where sulfur is used as a natural tracer of the engine oil. Since ejection of motor oil in gaseous form into the exhaust is by far the main source of engine oil consumption, detection of sulfur in the exhaust emission is a valuable way to measure engine oil consumption in a dynamic way. In earlier approaches, this is done by converting all sulfur containing chemical components into SO2 by thermal pyrolysis in a high temperature furnace at atmospheric pressure. The so-formed SO2 then is detected by broadband-UV-induced fluorescence or mass spectrometric methods. The challenge is to reach the necessary detection limit of 50 ppb. The new approach presented here includes sulfur conversion in a low-pressure discharge cell and laser-induced fluorescence with wavelength and fluorescence lifetime selection. A limit of detection down to 10 ppb at a temporal resolution in the time scale of few seconds is reached. Extensive, promising studies have been performed at a real engine test bench. Future developments of a compact, mobile device based on these improvements are discussed.

  17. Proceedings of the 2002 Petroleum Society of CIM/SPE/CHOA International Thermal Operations and Heavy Oil Symposium, International Conference on Horizontal Well Technology, and Canadian Heavy Oil Association Business Conference : Resources 2 Reserves 2 Results. CD ROM ed.

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-07-01

    This three day conference combined the Petroleum Society's International Horizontal Well and Technology Conference, the Society of Petroleum Engineer's (SPE) International Thermal Operations and Heavy Oil Symposium, and the Canadian Heavy Oil Association's (CHOA) Annual Business Meeting. The 87 presentations covered all aspects of heavy oil, thermal, and horizontal well technology from geosciences and drilling to economics and environment. The themes included financing, turning projects into results, eliminating the downstream barriers to oil sand development in North America and the world, and emerging technologies for horizontal or heavy oil applications. The conference included the following 20 sessions: (1) thermal operations/engineering, (2) well testing/productivity of horizontal wells, (3) heavy oil operations, (4) environmental aspects of heavy oil projects, (5) upgrading/pipelines, (6) economics and project appraisal, (7) simulation studies of thermal projects, (8) multilaterals, (9) horizontal wells in conventional reservoirs, (10) cold production of heavy oil, (11) horizontal drilling in thermal projects, (12) simulation studies of horizontal wells, (13) horizontal drilling technology, (14) thermal field studies and horizontal wells in heavy oil, (15) completion/production technology of horizontal and thermal wells, (16) physics and PVT of heavy oil recovery processes, (17) reservoir characterization/geosciences, (18) horizontal injectors/produced water technology, (19) emerging technologies, and (20) reservoir geomechanics/fracturing. Tutorials were also organized to provide opportunity to review areas that have undergone major changes. A total of 73 papers were indexed separately for inclusion in the database. refs., tabs., figs.

  18. Proceedings of ITOHOS 2008 : The 2008 SPE/PS/CHOA International Thermal Operations and Heavy Oil Symposium : Heavy Oil : Integrating the Pieces

    International Nuclear Information System (INIS)

    2008-10-01

    This multi-disciplinary conference and exhibition combined the Society of Petroleum Engineers (SPE) and the Petroleum Society's (PS) international thermal operations and heavy oil symposium, and the Canadian Heavy Oil Association's (CHOA) annual business meeting. The conference provided a forum to examine emerging technologies and other critical issues affecting the global heavy oil and bitumen industry. The most current technologies from around the world that enhance the recovery of heavy oil and bitumen from oil sand deposits were also showcased. The technical program encompassed the economic, technical, and environmental challenges that the petroleum industry is currently facing. The sessions of the conference were entitled: artificial lift; mining, extraction and cold production; simulation; solvent processes; reservoir characterization; steam generation and water treatment; and, in-situ combustion in Canada. The conference also featured a series of short courses and tutorials on heavy oil wellbore completions and design; drilling horizontal heavy oil wells and steam assisted gravity drainage (SAGD) wells; geomechanical based reservoir monitoring; thermal well design; fiber optic thermal monitoring; heavy oil thermal recovery and economics; wellbore slotting; advanced geomechanics; and, an overview of cold heavy oil production with sand (CHOPS). All 91 presentations from the conference have been catalogued separately for inclusion in this database. refs., tabs., figs

  19. Proceedings of ITOHOS 2008 : The 2008 SPE/PS/CHOA International Thermal Operations and Heavy Oil Symposium : Heavy Oil : Integrating the Pieces

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-10-15

    This multi-disciplinary conference and exhibition combined the Society of Petroleum Engineers (SPE) and the Petroleum Society's (PS) international thermal operations and heavy oil symposium, and the Canadian Heavy Oil Association's (CHOA) annual business meeting. The conference provided a forum to examine emerging technologies and other critical issues affecting the global heavy oil and bitumen industry. The most current technologies from around the world that enhance the recovery of heavy oil and bitumen from oil sand deposits were also showcased. The technical program encompassed the economic, technical, and environmental challenges that the petroleum industry is currently facing. The sessions of the conference were entitled: artificial lift; mining, extraction and cold production; simulation; solvent processes; reservoir characterization; steam generation and water treatment; and, in-situ combustion in Canada. The conference also featured a series of short courses and tutorials on heavy oil wellbore completions and design; drilling horizontal heavy oil wells and steam assisted gravity drainage (SAGD) wells; geomechanical based reservoir monitoring; thermal well design; fiber optic thermal monitoring; heavy oil thermal recovery and economics; wellbore slotting; advanced geomechanics; and, an overview of cold heavy oil production with sand (CHOPS). All 91 presentations from the conference have been catalogued separately for inclusion in this database. refs., tabs., figs.

  20. Selective internalization of self-assembled artificial oil bodies by HER2/neu-positive cells

    International Nuclear Information System (INIS)

    Chiang, Chung-Jen; Lin, Che-Chin; Lin, Li-Jen; Chang, Chih-Hsiang; Chao, Yun-Peng

    2011-01-01

    A novel delivery carrier was developed using artificial oil bodies (AOBs). Plant seed oil bodies (OBs) consist of a triacylglycerol matrix surrounded by a monolayer of phospholipids embedded with the storage protein oleosin (Ole). Ole consists of a central hydrophobic domain with two amphiphatic arms that extrude from the surface of OBs. In this study, a bivalent anti-HER2/neu affibody domain (ZH2) was fused with Ole at the C terminus. After overproduction in Escherichia coli, the fusion protein (Ole-ZH2) was recovered to assemble AOBs. The size of self-assembled AOBs was tailored by varying the oil/Ole-ZH2 ratio and pH to reach a nanoscale. Upon co-incubation with tumor cells, the nanoscale AOBs encapsulated with a hydrophobic fluorescence dye were selectively internalized by HER2/neu-overexpressing cells and displayed biocompatibility with the cells. In addition, the ZH2-mediated endosomal entry of AOBs occurred in a time- and AOB dose-dependent manner. The internalization efficiency was as high as 90%. The internalized AOBs disintegrated at the non-permissive pH (e.g. in acidic endosomes) and the cargo dye was released. Results of in vitro study revealed a sustained and prolonged release profile. Taken together, our findings indicate the potential of AOBs as a delivery carrier.

  1. The transmission of fluctuant patterns of the forex burden based on international crude oil prices

    International Nuclear Information System (INIS)

    Gao, Xiangyun; An, Haizhong; Fang, Wei; Li, Huajiao

    2014-01-01

    For a country that imports crude oil, the forex burden is always fluctuant due to the fluctuation of international crude oil prices and exchange rates over time. The gap discovered between international crude oil prices and the crude oil price based on exchange rates may indicate the fluctuation of the forex burden. There exist different fluctuant patterns in the fluctuation process of the forex burden in different periods. Hence, we proposed an approach combining econometrics and complex network theory to explore the transmission mechanism of these fluctuant patterns. In this study, we defined the forex burden and the fluctuant patterns by normalization, sliding windows of data and econometric models. And then we set the fluctuant patterns as nodes and the transformation between patterns as edges; in this way, the transmission complex network is constructed. The results show that different major fluctuant patterns with different probabilities appear in different scales. The fluctuant patterns transferred into each other conveniently. And the transmission medium can help to identify the transitional periods in the process of the transmission. The contribution of this study to the energy policy decision-making is that the formulations of related policies under different period lengths require different reference standards. - Highlights: • Small “gap” between crude oil price and exchange rate can make great forex fluctuation. • We defined the fluctuant patterns of forex burden through data sliding windows. • We constructed the transmission network models of fluctuant patterns of forex burden. • The transitional periods can be identified by media capabilities of fluctuant patterns. • Energy policies making for different lengths of period should reference different scales standards

  2. The transmission of fluctuant patterns of the forex burden based on international crude oil prices

    Energy Technology Data Exchange (ETDEWEB)

    Gao, Xiangyun [School of Humanities and Economic Management, China University of Geosciences, Beijing 100083 (China); Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Land and Resources (Chinese Academy of Land and Resource Economics, China University of Geosciences Beijing), Beijing 100083 (China); Lab of Resources and Environmental Management, China University of Geosciences, Beijing 100083 (China); Department of Earth and Environmental Sciences, University of Waterloo, ON N2L 3G1 (Canada); An, Haizhong [School of Humanities and Economic Management, China University of Geosciences, Beijing 100083 (China); Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Land and Resources (Chinese Academy of Land and Resource Economics, China University of Geosciences Beijing), Beijing 100083 (China); Lab of Resources and Environmental Management, China University of Geosciences, Beijing 100083 (China); Fang, Wei [School of Humanities and Economic Management, China University of Geosciences, Beijing 100083 (China); Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Land and Resources (Chinese Academy of Land and Resource Economics, China University of Geosciences Beijing), Beijing 100083 (China); Lab of Resources and Environmental Management, China University of Geosciences, Beijing 100083 (China); Li, Huajiao [School of Humanities and Economic Management, China University of Geosciences, Beijing 100083 (China); Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Land and Resources (Chinese Academy of Land and Resource Economics, China University of Geosciences Beijing), Beijing 100083 (China); Lab of Resources and Environmental Management, China University of Geosciences, Beijing 100083 (China); others, and

    2014-08-14

    For a country that imports crude oil, the forex burden is always fluctuant due to the fluctuation of international crude oil prices and exchange rates over time. The gap discovered between international crude oil prices and the crude oil price based on exchange rates may indicate the fluctuation of the forex burden. There exist different fluctuant patterns in the fluctuation process of the forex burden in different periods. Hence, we proposed an approach combining econometrics and complex network theory to explore the transmission mechanism of these fluctuant patterns. In this study, we defined the forex burden and the fluctuant patterns by normalization, sliding windows of data and econometric models. And then we set the fluctuant patterns as nodes and the transformation between patterns as edges; in this way, the transmission complex network is constructed. The results show that different major fluctuant patterns with different probabilities appear in different scales. The fluctuant patterns transferred into each other conveniently. And the transmission medium can help to identify the transitional periods in the process of the transmission. The contribution of this study to the energy policy decision-making is that the formulations of related policies under different period lengths require different reference standards. - Highlights: • Small “gap” between crude oil price and exchange rate can make great forex fluctuation. • We defined the fluctuant patterns of forex burden through data sliding windows. • We constructed the transmission network models of fluctuant patterns of forex burden. • The transitional periods can be identified by media capabilities of fluctuant patterns. • Energy policies making for different lengths of period should reference different scales standards.

  3. Do Emotions Expressed Online Correlate with Actual Changes in Decision-Making?: The Case of Stock Day Traders.

    Science.gov (United States)

    Liu, Bin; Govindan, Ramesh; Uzzi, Brian

    2016-01-01

    Emotions are increasingly inferred linguistically from online data with a goal of predicting off-line behavior. Yet, it is unknown whether emotions inferred linguistically from online communications correlate with actual changes in off-line activity. We analyzed all 886,000 trading decisions and 1,234,822 instant messages of 30 professional day traders over a continuous 2 year period. Linguistically inferring the traders' emotional states from instant messages, we find that emotions expressed in online communications reflect the same distributions of emotions found in controlled experiments done on traders. Further, we find that expressed online emotions predict the profitability of actual trading behavior. Relative to their baselines, traders who expressed little emotion or traders that expressed high levels of emotion made relatively unprofitable trades. Conversely, traders expressing moderate levels of emotional activation made relatively profitable trades.

  4. Do Emotions Expressed Online Correlate with Actual Changes in Decision-Making?: The Case of Stock Day Traders.

    Directory of Open Access Journals (Sweden)

    Bin Liu

    Full Text Available Emotions are increasingly inferred linguistically from online data with a goal of predicting off-line behavior. Yet, it is unknown whether emotions inferred linguistically from online communications correlate with actual changes in off-line activity. We analyzed all 886,000 trading decisions and 1,234,822 instant messages of 30 professional day traders over a continuous 2 year period. Linguistically inferring the traders' emotional states from instant messages, we find that emotions expressed in online communications reflect the same distributions of emotions found in controlled experiments done on traders. Further, we find that expressed online emotions predict the profitability of actual trading behavior. Relative to their baselines, traders who expressed little emotion or traders that expressed high levels of emotion made relatively unprofitable trades. Conversely, traders expressing moderate levels of emotional activation made relatively profitable trades.

  5. Globalization and the uneven application of international regulatory standard : the case of oil exploration in Nigeria

    Energy Technology Data Exchange (ETDEWEB)

    Adalikwu, J.

    2008-07-01

    This study was conducted to increase the awareness of the current economic situation that exists in the Niger Delta, a region that has been devastated by the activities of oil multinational corporations (MNCs). In particular, the study linked the Obelle and Obagi communities to the political economy of global capital which creates inequalities that divide societies into hierarchies of the rich and poor. The strategies adopted by the people to improve the negative consequences of oil exploration in the communities were also examined. The researcher postulated that there is a relationship between the uneven application of international and national regulations in oil production by MNCs and environmental degradation. A critical ethnographic paradigm was used to explore and explain the processes of globalization that affect the people's lives and means of livelihood. Data were collected and analyzed using both qualitative and quantitative methods. Data was then analyzed using several methods, such as statistics based on cross-tabulation, analysis of themes that emerged from interviews, and Atlas.ti 5.0 qualitative analysis computer programme to show the relationship between variables that emerged from the study. The study revealed that resource exploitation by oil MNCs in Obagi/Obelle communities of the Nigeria Delta, together with the Nigerian government, has resulted in economic expropriation, political disenfranchisement, social instability and environmental damage.

  6. Sustaining the emerging carbon trading industry development: A business ecosystem approach of carbon traders

    International Nuclear Information System (INIS)

    Hu, Guangyu; Rong, Ke; Shi, Yongjiang; Yu, Jing

    2014-01-01

    This paper explores how carbon traders nurture the business ecosystem to sustain the emerging carbon trading industry development. We collected primary data from a multinational carbon trader and its ecosystem partners in China, through the construction of interviews and documentary. The research findings show the carbon trading industry has experienced four-stage evolution with different driving forces; the carbon trader attracted and organized ecosystem partners to facilitate the CDM project owners to create carbon credits and trade them; a systematic business ecosystems approach through the lens of Context, Cooperation and Configuration, initiated by carbon traders, has facilitated the industry development. Our findings also implicate to industrial practitioners and policymakers for sustaining the emerging industry development at both the current- and the post-Kyoto protocol periods. - Highlights: • The carbon trader is a catalyst to link CDM project owner and trading market in China • The evolution of carbon trading industry has four stages with various driving forces. • Nurturing business ecosystems facilitates the carbon trading industry development. • The ecosystem approach works via the lens of Context, Configuration and Cooperation. • The ecosystem approach implicates to carbon trading industry at the post-Kyoto era

  7. OntoTrader: An Ontological Web Trading Agent Approach for Environmental Information Retrieval

    Directory of Open Access Journals (Sweden)

    Luis Iribarne

    2014-01-01

    Full Text Available Modern Web-based Information Systems (WIS are becoming increasingly necessary to provide support for users who are in different places with different types of information, by facilitating their access to the information, decision making, workgroups, and so forth. Design of these systems requires the use of standardized methods and techniques that enable a common vocabulary to be defined to represent the underlying knowledge. Thus, mediation elements such as traders enrich the interoperability of web components in open distributed systems. These traders must operate with other third-party traders and/or agents in the system, which must also use a common vocabulary for communication between them. This paper presents the OntoTrader architecture, an Ontological Web Trading agent based on the OMG ODP trading standard. It also presents the ontology needed by some system agents to communicate with the trading agent and the behavioral framework for the SOLERES OntoTrader agent, an Environmental Management Information System (EMIS. This framework implements a “Query-Searching/Recovering-Response” information retrieval model using a trading service, SPARQL notation, and the JADE platform. The paper also presents reflection, delegation and, federation mediation models and describes formalization, an experimental testing environment in three scenarios, and a tool which allows our proposal to be evaluated and validated.

  8. International evidence on crude oil price dynamics. Applications of ARIMA-GARCH models

    International Nuclear Information System (INIS)

    Mohammadi, Hassan; Su, Lixian

    2010-01-01

    We examine the usefulness of several ARIMA-GARCH models for modeling and forecasting the conditional mean and volatility of weekly crude oil spot prices in eleven international markets over the 1/2/1997-10/3/2009 period. In particular, we investigate the out-of-sample forecasting performance of four volatility models - GARCH, EGARCH and APARCH and FIGARCH over January 2009 to October 2009. Forecasting results are somewhat mixed, but in most cases, the APARCH model outperforms the others. Also, conditional standard deviation captures the volatility in oil returns better than the traditional conditional variance. Finally, shocks to conditional volatility dissipate at an exponential rate, which is consistent with the covariance-stationary GARCH models than the slow hyperbolic rate implied by the FIGARCH alternative. (author)

  9. The Russian opportunity and investments by international companies: the oil paradox

    International Nuclear Information System (INIS)

    Locatelli, C.

    2003-01-01

    The early days of 2003 saw Russia and its oil sector drawing the attention of international investors, as evidenced by the joint venture between BP and TNK, Exxon Mobil's plans regarding Yukos or Shell's. Some people saw in those agreements or plans the signs of a normalisation of the Russian economy, particularly in terms of property rights. The arresting of Mr Khodorkovsky, the chairman of Yukos put a sudden stop to such optimism and comes as a reminder of a few realities. Despite the progresses made, the economic and institutional environment of the country is still unstable, as shown by the questioning of the Production Sharing Agreement Act or the increasingly demanding access to oil resources. The BP TNK agreement is not a reproducible investment model. If there is some opening it will be on the terms set by the Russian government. (authors)

  10. Crude oil prices: Speculation versus fundamentals

    Science.gov (United States)

    Kolodziej, Marek Krzysztof

    Beginning in 2004, the price of crude oil fluctuates rapidly over a wide range. Large and rapid price increases have recessionary consequences and dampen long-term infrastructural investment. I investigate whether price changes are driven by market fundamentals or speculation. With regard to market fundamentals, I revisit econometric evidence for the importance of demand shocks, as proxied by dry maritime cargo rates, on oil prices. When I eliminate transportation costs from both sides of the equation, disaggregate OPEC and non-OPEC production, and allow for more than one cointegrating relation, I find that previous specifications are inconsistent with arguments that demand shocks play an important role. Instead, results confirm the importance of OPEC supply shocks. I investigate two channels by which speculation may affect oil prices; the direct effect of trader behavior and changes in oil from a commodity to a financial asset. With regard to trader behavior, I find evidence that trader positions are required to explain the spread between spot and futures prices of crude oil on the New York Mercantile Exchange. The inclusion of trader positions clarifies the process of equilibrium error correction, such that there is bidirectional causality between prices and trader positions. This creates the possibility of speculative bubbles. With regard to oil as a commodity and/or financial asset, I use a Kalman Filter model to estimate the time-varying partial correlation between returns to investments in equity and oil markets. This correlation changes from negative to positive at the onset of the 2008 financial crisis. The low interest rates used to rescue the economy depress convenience yields, which reduces the benefits of holding oil as a commodity. Instead, oil becomes a financial asset (on net) as the oil market changed from contango to backwardation. Contradicting simple political narratives, my research suggests that both market fundamentals and speculation drive

  11. Turnover, account value and diversification of real traders: evidence of collective portfolio optimizing behavior

    Science.gov (United States)

    Morton de Lachapelle, David; Challet, Damien

    2010-07-01

    Despite the availability of very detailed data on financial markets, agent-based modeling is hindered by the lack of information about real trader behavior. This makes it impossible to validate agent-based models, which are thus reverse-engineering attempts. This work is a contribution towards building a set of stylized facts about the traders themselves. Using the client database of Swissquote Bank SA, the largest online Swiss broker, we find empirical relationships between turnover, account values and the number of assets in which a trader is invested. A theory based on simple mean-variance portfolio optimization that crucially includes variable transaction costs is able to reproduce faithfully the observed behaviors. We finally argue that our results bring to light the collective ability of a population to construct a mean-variance portfolio that takes into account the structure of transaction costs.

  12. Abstracts of Go-Expo 2003 : Gas and oil exposition and Canadian international petroleum conference 2003

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-07-01

    The Go-Expo 2003 gas and oil exposition, held in conjunction with the Canadian international petroleum conference, showcased some of the newest technologies, products and services available to the petroleum industry. The more than 30 presentations featured case studies on new technologies pertaining to exploration, drilling and production, environmental strategies, information technology and e-commerce. The presenters represented academia, industry, as well as provincial and territorial governments. Some of the topics discussed included: coalbed methane drilling procedures, upgrading processes, in-line separation techniques, reducing emissions under the Kyoto Protocol, safety and pollution prevention in the industry, water abatement in gas wells, and integrated crisis management.

  13. Study on the damage effect of 131I-iodinated oil internal radiation in SMMC-7721 hepatoma model in rat

    International Nuclear Information System (INIS)

    Wu Shuyan; Zhang Xuguang; Wang Xiangying; Li Su'an; Mao Dihua

    2004-01-01

    Objective: To investigate the damage effect of 131 I-iodinated oil internal radiation in hepatoma. Methods: SMMC-7721 rat hepatoma model was used to evaluate the damage of 131 I-iodinated oil internal radiation in carcinoma. 131 I-iodinated oil was injected sector-shapely into tumor model of SMMC-7721 hepatoma with arc-needle, matched with routine straight-needle injection. Tumor damage induced by 131 I-iodinated oil intralesion radiation in the carcinoma models are recorded through survival time, weight of rat, local carcinoma, pathology, electron microscopy. Results: Arc-needle injection 131 I-iodinated oil in SMMC-7721 hepatoma at subcutis could increase rat's survival time, the body weight kept less descent, the lumps necrosed wholly. Pathology and ultrastructure detection revealed cell necrosis and collapse, sever nuclear damage was observed in the death cells. The early characteristics of necrosis such as margination of heterochromatin was also found in some tumor cells. Besides, well differentiated tumor cells, degenerative tumor cells and some lymphocytes were seen. Conclusion: Arc-needle injection 131 I-iodinated oil step-by step sector-shapely into tumor is a better method and necrosis is the major effect of 131 I-iodinated oil internal radiation in carcinoma at the level of treated dosage

  14. Comparative evaluation of civil liability conventions on radioactive and oil pollution and liability under international law

    International Nuclear Information System (INIS)

    Hoche, A.

    1988-01-01

    In the event of transfrontier radioactive pollution or oil pollution, compensation for damage may be sought under two different liability systems: there is the framework of international law of liability of international persons, and there is the liability regime established by international conventions. The latter system has adopted a very friendly attitude towards the claims of a private victim claiming compensation from the private polluter. The book first sets out the basic principles and practice of the two liability systems, also considering the latest developments and current discussions advocating the acknowledgement of the principle of strict and absolute liability in international law. The relationship of the two systems is the major issue of the book, and the Chernobyl reactor accident has made it a particularly topical issue at that. The problems arising in the wake of this accident have shown the need for clarification in this field. The author suggests as a practical approach a strict separation of the two bases of claims, so that parallel or successive procedure on the level of international law or civil law is possible. Finally the problem of avoiding duplication in the payment of compensation is discussed. (orig./HP) [de

  15. The livelihood strategies of women fish traders in adapting to cultural and institutional constraints in Ibaka, Nigeria

    NARCIS (Netherlands)

    Udong, E.; Niehof, Anke; Tilburg, van A.

    2010-01-01

    This paper presents findings from a study of women fish traders in Ibaka,
    Nigeria, which investigated their livelihood strategies, assets and resources, and
    how institutions and culture mediate their choices. Case studies were conducted
    on eleven fish traders purposively selected in

  16. The influence of oil price shocks on china’s macro-economy: A perspective of international trade

    Directory of Open Access Journals (Sweden)

    Dengke Chen

    2015-09-01

    Full Text Available This paper is aimed at investigating and understanding the relationship between China’s macro-economy and oil price from a new perspective—the international trade perspective. We find strong evidence to suggest that the increase of China’s price level, resulting from oil price shocks, is statistically less than that of its main trade partners’. This helps us to understand the confused empirical results estimated within the SVAR framework. More specifically, SVAR results suggest that China’s output level is positively correlated with the oil price. Positive correlation between China’s output and oil price shocks presumably results from the drop in China’s relative price induced by oil price shocks, which is inclined to stimulate China’s goods and service exports.

  17. Proceedings of the 3. international symposium on applied microbiology and molecular biology in oil systems: ISMOS 3

    Energy Technology Data Exchange (ETDEWEB)

    Rooijen, Gijs van; Caffrey, Sean M. [Genome Alberta (Canada); Lund Skovhus, Torben [DTI Oil and Gas (Denmark); Whitby, Corinne [University of Essex (United Kingdom)

    2011-07-01

    The 3rd international symposium on applied microbiology and molecular biology in oil systems was held in Calgary, Alberta, Canada, from June 13th to June 15th, 2011. This conference, organized by ISMOS TSC, gathered experts to discuss the application of microbial and molecular biology in the hydrocarbon sector. The conference was attended by key players from the oil and gas industry and provided them with the opportunity to learn about some of the latest technologies in areas such as the application of molecular microbiological methods for oil field systems, biodegradation of hydrocarbons in oil production, biofuels and downstream petroleum microbiology and challenges in biofuels and oil sands developments, and to network with their peers and share their expertise. 17 of the 31 papers presented during this conference have been catalogued separately for inclusion in this database.

  18. Executive order no. 433 of 24th May 1996. Executive order on the international fund for compensation for damages caused by oil pollution, 1992

    International Nuclear Information System (INIS)

    1996-05-01

    The Danish executive order on the international fund for the compensation for damages caused by oil pollution, 1992 is related to the Danish law no. 205 of March 29th 1996, and is based on the International Convention on the Establishment of an International Fund for Compensation for Oil Damage, 1992. The document includes the convention's protocol presented in French, Danish and English. (AB)

  19. Do Emotions Expressed Online Correlate with Actual Changes in Decision-Making?: The Case of Stock Day Traders

    Science.gov (United States)

    Liu, Bin; Govindan, Ramesh; Uzzi, Brian

    2016-01-01

    Emotions are increasingly inferred linguistically from online data with a goal of predicting off-line behavior. Yet, it is unknown whether emotions inferred linguistically from online communications correlate with actual changes in off-line activity. We analyzed all 886,000 trading decisions and 1,234,822 instant messages of 30 professional day traders over a continuous 2 year period. Linguistically inferring the traders’ emotional states from instant messages, we find that emotions expressed in online communications reflect the same distributions of emotions found in controlled experiments done on traders. Further, we find that expressed online emotions predict the profitability of actual trading behavior. Relative to their baselines, traders who expressed little emotion or traders that expressed high levels of emotion made relatively unprofitable trades. Conversely, traders expressing moderate levels of emotional activation made relatively profitable trades. PMID:26765539

  20. Speculation and the 2008 oil bubble: The DCOT Report analysis

    International Nuclear Information System (INIS)

    Tokic, Damir

    2012-01-01

    This article analyzes the CFTC's Disaggregated Commitments of Traders (DCOT) Report to get more insights into the behavior of different traders during the 2008 oil bubble. The analysis shows that: (1) the Money Manager category perfectly played the oil bubble, got in early and started selling shortly before the bubble peak; (2) the Producer/Merchant/Processor/User category and the Nonreportable category were covering their short positions into the peak of the bubble; (3) the Swap/Dealer category benefited while the price of oil was rising, but incurred heavy losses as the price of oil collapsed; (4) we find no indications of speculation by any group of traders via the positive feedback trading or rational destabilization; and (5) we do, however, criticize the commercial hedgers for failing to arbitrage the soaring oil prices in 2008. - Highlights: ► We analyze the DCOT Report to study the behavior of traders during the 2008 oil bubble. ► the Money Manger category perfectly played the oil bubble. ► the Producer/Merchant/Processor/User and the Nonreportables engaged in short covering. ► the Swap/Dealer incurred heavy losses as the price of oil collapsed. ► We find no indications of speculation by any category.

  1. Hedging Strategies and the Financing of the 1992 International Oil Pollution Compensation Fund.

    OpenAIRE

    André SCHMITT; Sandrine SPAETER

    2005-01-01

    The maritime oil transport is regulated by the 1992 Civil Liability Convention for Oil Damage and the 1992 Oil Pollution Compensation Fund. In this compensation regime, contributions of oil firms are based on the aggregate risk of the Fund and are assessed each time an oil spill is registered. In this paper, we present the main characteristics of such a compensation regime and we explain why oil firms would benefit from a reorga- nization of the financing of the Fund by introducing appropriat...

  2. 17 CFR 3.11 - Registration of floor brokers and floor traders.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Registration of floor brokers and floor traders. 3.11 Section 3.11 Commodity and Securities Exchanges COMMODITY FUTURES TRADING... a contract market or registered as a derivatives transaction execution facility by the Commission...

  3. Colonial Figures: Memories of Street Traders in the Colonial and Early Post-colonial Periods

    Directory of Open Access Journals (Sweden)

    Sheri Lynn Gibbings

    2012-12-01

    Full Text Available This article explores post-colonial memories about street traders among individuals who lived in the former colony of the Dutch East Indies. It argues that these narratives romanticize the relationship between Europeans and indigenous peoples. Street vendors are also used to differentiate between periods within colonial and post-colonial history. The nostalgic representation of interracial contact between Europeans and traders is contrasted with representations of other figures such as the Japanese and the nationalist. A recurring feature of these representations is the ability of Europeans to speak with street traders and imagine what they wanted and needed. The traders are remembered as a social type that transgressed politics and represented the neutrality of the economic sphere as a place for shared communication. The article concludes that the figure of the street vendor contributes to the nostalgic reinvention of the colony but is also used in narratives to differentiate between and mark changes across the colonial and post-colonial periods.

  4. 78 FR 47479 - 30-Day Notice of Proposed Information Collection: Nonimmigrant Treaty Trader/Investor Application

    Science.gov (United States)

    2013-08-05

    ...: Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for public comment and submission to.../Investor Application OMB Control Number: OMB-1405-0101 Type of Request: Extension of a Currently Approved... Investor Estimated Number of Respondents: 41,752 Estimated Number of Responses: 41,752 Average Time per...

  5. 'China Gives and China Takes' : African Traders and the Nondocumenting States

    NARCIS (Netherlands)

    Lan, S.

    2017-01-01

    Based on ethnographic research in South China’s megacity Guangzhou, this article examines the gaps and contradictions in the central and local Chinese states’ efforts to regulate migrant traders from Africa. I identify economic interests, everyday racism, and ideological concerns as three major

  6. Trader characteristics and fundamental value trajectories in an asset market experiment

    NARCIS (Netherlands)

    Breaban, Adriana; Noussair, Charles

    2015-01-01

    We report results from an asset market experiment, in which we investigate the relationship between traders’ risk aversion, loss aversion, and cognitive ability and their trading behavior and market outcomes. Greater average risk aversion on the part of traders in the market predicts lower market

  7. Self-reinforcing feedback loop in financial markets with coupling of market impact and momentum traders

    Science.gov (United States)

    Zhong, Li-Xin; Xu, Wen-Juan; Chen, Rong-Da; Zhong, Chen-Yang; Qiu, Tian; Ren, Fei; He, Yun-Xing

    2018-03-01

    By incorporating market impact and momentum traders into an agent-based model, we investigate the conditions for the occurrence of self-reinforcing feedback loops and the coevolutionary mechanism of prices and strategies. For low market impact, the price fluctuations are originally large. The existence of momentum traders has little impact on the change of price fluctuations but destroys the equilibrium between the trend-following and trend-rejecting strategies. The trend-following herd behaviors become dominant. A self-reinforcing feedback loop exists. For high market impact, the existence of momentum traders leads to an increase in price fluctuations. The trend-following strategies of rational individuals are suppressed while the trend-following strategies of momentum traders are promoted. The crowd-anticrowd behaviors become dominant. A negative feedback loop exists. A theoretical analysis indicates that, for low market impact, the majority effect is beneficial for the trend-followers to earn more, which in turn promotes the trend-following strategies. For high market impact, the minority effect causes the trend-followers to suffer great losses, which in turn suppresses the trend-following strategies.

  8. Reducing HIV-related stigma among traders in model markets in ...

    African Journals Online (AJOL)

    Background: HIV/AIDS is a major Public health problem in Nigeria where the National seroprevalence rate is 4.1%. The objective of this study was to determine the effect of health education on knowledge of HIV and the stigmatization of people living with HIV/AIDS among traders in model markets in Lagos State.

  9. Women and entrepreneurship. Female traders in the Northern Netherlands, c. 1580-1815

    NARCIS (Netherlands)

    Heuvel, D.W.A.G. van den

    2007-01-01

    The many travellers who visited the Dutch Republic praised them: the heroic Dutch tradeswomen. In contrast to women in the surrounding countries, in the early modern period Dutch women were enterprising, independent and capable traders. In Women and Entrepreneurship they form the topic of

  10. 17 CFR 1.66 - No-action positions with respect to floor traders.

    Science.gov (United States)

    2010-04-01

    ... effect, which includes the name, date of birth and social security number of such floor traders, as well... operating officer of the contract market, the Commission will not commence an enforcement proceeding against... temporary license under section 4f of the Act and § 3.11 of this chapter, nor will the Commission commence...

  11. Prevalence of cardiovascular risk factors amongst traders in an urban market in Lagos, Nigeria.

    Science.gov (United States)

    Odugbemi, T O; Onajole, A T; Osibogun, A O

    2012-03-01

    A descriptive cross-sectional study was carried out to determine the prevalence of cardiovascular risk factors amongst traders in an urban market in Lagos State. Tejuosho market, one of the large popular markets was selected from a list of markets that met the inclusion criteria of being major markets dealing in general goods using a simple random sampling technique by balloting. Four hundred (400) traders were selected using a systematic random sampling. Each trader was interviewed with a well-structured questionnaire and had blood pressure and anthropometric measurements (height, weight and body mass index). Female traders made up (74.3%) 297 of the total population. The mean age was 45.48+11.88 and 42.29+10.96 years for males and females respectively. Majority 239 (59.8%) fell within the age range of 35 - 55 years. The cardiovascular risk factors identified and their prevalence rates were hypertension (34.8%), physical inactivity (92%), previously diagnosed diabetes mellitus (0.8%), risky alcohol consumption (1%), cigarette smoking (0.3%) in females and (17.5%) in males, obesity (12.3%) and overweight (39.9%). The study recommended that any health promoting, preventive or intervention programme for this population would have to be worked into their market activities if it is to make an impact.

  12. The spatiotemporal dynamic analysis of the implied market information and characteristics of the correlation coefficient matrix of the international crude oil price returns

    International Nuclear Information System (INIS)

    Tian, Lixin; Ding, Zhenqi; Zhen, Zaili; Wang, Minggang

    2016-01-01

    The international crude oil market plays a crucial role in economies, and the studies of the correlation, risk and synchronization of the international crude oil market have important implications for the security and stability of the country, avoidance of business risk and people's daily lives. We investigate the information and characteristics of the international crude oil market (1999-2015) based on the random matrix theory (RMT). Firstly, we identify richer information in the largest eigenvalues deviating from RMT predictions for the international crude oil market; the international crude oil market can be roughly divided into ten different periods by the methods of eigenvectors and characteristic combination, and the implied market information of the correlation coefficient matrix is advanced. Secondly, we study the characteristics of the international crude oil market by the methods of system risk entropy, dynamic synchronous ratio, dynamic non-synchronous ratio and dynamic clustering algorithm. The results show that the international crude oil market is full of risk. The synchronization of the international crude oil market is very strong, and WTI and Brent occupy a very important position in the international crude oil market. (orig.)

  13. The spatiotemporal dynamic analysis of the implied market information and characteristics of the correlation coefficient matrix of the international crude oil price returns

    Energy Technology Data Exchange (ETDEWEB)

    Tian, Lixin [Jiangsu University, Energy Development and Environmental Protection Strategy Research Center, Zhenjiang, Jiangsu (China); Nanjing Normal University, School of Mathematical Sciences, Nanjing, Jiangsu (China); Ding, Zhenqi; Zhen, Zaili [Jiangsu University, Energy Development and Environmental Protection Strategy Research Center, Zhenjiang, Jiangsu (China); Wang, Minggang [Nanjing Normal University, School of Mathematical Sciences, Nanjing, Jiangsu (China)

    2016-08-15

    The international crude oil market plays a crucial role in economies, and the studies of the correlation, risk and synchronization of the international crude oil market have important implications for the security and stability of the country, avoidance of business risk and people's daily lives. We investigate the information and characteristics of the international crude oil market (1999-2015) based on the random matrix theory (RMT). Firstly, we identify richer information in the largest eigenvalues deviating from RMT predictions for the international crude oil market; the international crude oil market can be roughly divided into ten different periods by the methods of eigenvectors and characteristic combination, and the implied market information of the correlation coefficient matrix is advanced. Secondly, we study the characteristics of the international crude oil market by the methods of system risk entropy, dynamic synchronous ratio, dynamic non-synchronous ratio and dynamic clustering algorithm. The results show that the international crude oil market is full of risk. The synchronization of the international crude oil market is very strong, and WTI and Brent occupy a very important position in the international crude oil market. (orig.)

  14. Efficiency Assessment of Economic International Cooperation in Development of Arctic Offshore Oil and Gas Resources

    Directory of Open Access Journals (Sweden)

    Polina V. Beresneva

    2015-01-01

    Full Text Available The research is focused on efficiency assessment of economic cooperation in development of Arctic offshore oil and gas resources. The author developed an economic model based on cost-benefit analysis (CBA. CBA is used in some countries (EU, USA, Australia as an analytic tool to make public policy decisions. CBA is based on the method of discounting cash flows associated with costs and benefits of public policy. It is assumed that all public goals are equally important inter alia, hence public bodies should opt for those initiatives that maximize public benefits for every dollar spent from the state budget. There are five stages of economic modeling: 1 the definition of public benefits and costs associated with the public initiative; 2 monetary valuation of costs and benefits; 3 the definition of discounting period and discounting rate; 4 the calculation of net present value of cash flows; 5 the comparison of initiatives' net present values. The model is built with a number of hypotheses assumed. It allows making evaluation of investments into the technology to decrease the cost of Arctic offshore oil and gas development. Moreover, the model has two scenarios describing a public policy to support technology development with international economic cooperation and without it. Under given hypotheses both scenarios return positive net present value of policies which proves that governmental initiative to support Arctic technology development is economically justified. Also the model sows that the scenario with international cooperation is more efficient from economic point of view. It is explained by two factors: the higher speed of technology transfer (due W international cooperation and the opportunity to use financial leverage (attracting the funds from foreign partners. The model allows closing the existing scientific gap between the theory of CBA method and its practical use in public decision making.

  15. Senate report on the bill authorizing joining the 2001 International Convention on Civil Liability for Bunker Oil Pollution Damage

    International Nuclear Information System (INIS)

    2010-01-01

    This report recalls the different texts concerning the law of the sea: United Nations Convention on the Law of the Sea (UNCLOS) of 1982 which was ratified by France in 1996, the International Convention on Civil Liability for Oil Pollution of 1992, the creation of the International Oil Pollution Compensation Funds, and the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by sea (HNS) in 1996. While evoking some recent examples of wrecks and pollutions and some already existing French and European initiatives, it describes the implications and consequences of this convention on the French law and for its enforcement, provided that this new treaty is designed to take bunker oil into account as it may induce a significant pollution of the marine environment

  16. The stability of the international oil trade network from short-term and long-term perspectives

    Science.gov (United States)

    Sun, Qingru; Gao, Xiangyun; Zhong, Weiqiong; Liu, Nairong

    2017-09-01

    To examine the stability of the international oil trade network and explore the influence of countries and trade relationships on the trade stability, we construct weighted and unweighted international oil trade networks based on complex network theory using oil trading data between countries from 1996 to 2014. We analyze the stability of international oil trade network (IOTN) from short-term and long-term aspects. From the short-term perspective, we find that the trade volumes play an important role on the stability. Moreover, the weighted IOTN is stable; however, the unweighted networks can better reflect the actual evolution of IOTN. From the long-term perspective, we identify trade relationships that are maintained during the whole sample period to reveal the situation of the whole international oil trade. We provide a way to quantitatively measure the stability of complex network from short-term and long-term perspectives, which can be applied to measure and analyze trade stability of other goods or services.

  17. Toward a formalization of a two traders market with information exchange

    International Nuclear Information System (INIS)

    Bagarello, F; Haven, E

    2015-01-01

    This paper shows that Hamiltonians and operators can also be put to good use even in contexts which are not purely physics based. Consider the world of finance. The work presented here models a two traders system with information exchange with the help of four fundamental operators: cash and share operators, a portfolio operator, and an operator reflecting the loss of information. An information Hamiltonian is considered and an additional Hamiltonian is presented which reflects the dynamics of selling/buying shares between traders. An important result of the paper is that when the information Hamiltonian is zero, portfolio operators commute with the Hamiltonian and this suggests that the dynamics are really due to the information. Under the assumption that the interaction and information terms in the Hamiltonian have similar strength, a perturbation scheme is considered on the interaction parameter. Contrary to intuition, the paper shows that up to a second order in the interaction parameter, a key factor in the computation of the portfolios of traders will be the initial values of the loss of information (rather than the initial conditions on the cash and shares). Finally, the paper shows that a natural outcome from the inequality of the variation of the portfolio of trader one versus the variation of the portfolio of trader two, begs for the introduction of ‘good’ and ‘bad’ information. It is shown that ‘good’ information is related to the reservoirs (where an infinite set of bosonic operators are used) which model rumors/news and external facts, whilst ‘bad’ information is associated with a set of two modes bosonic operators. (paper)

  18. 13th CERI [Canadian Energy Research Inst.] international oil and gas markets conference

    International Nuclear Information System (INIS)

    1994-01-01

    At an oil and gas industry conference, papers were presented on world oil supply and demand, energy geopolitics, world oil prices, the status of the Chinese oil/gas industry and prospects for exploration and development, Latin American oil/gas markets and development opportunities, the oil and gas industries in non-OPEC Middle East countries (Oman, Yemen, Turkey), oil and gas markets in North America, and financial and regulatory aspects of domestic gas markets in Canada and the USA. Separate abstracts have been prepared for 17 papers from this conference

  19. How to avoid the ditch when trying to find and develop oil and gas internationally

    International Nuclear Information System (INIS)

    Dilger, C.

    2002-01-01

    It is easy to understand why a large number of Canadian oil and gas companies are expanding their operations on an international basis. The Western Canadian Basin is becoming more and more competitive, and the discoveries are significantly smaller, whereas several hydrocarbon regions of the world have not been explored as much. There are real possibilities for the application of the advanced technologies in use in Canada to recover hydrocarbons in those regions. There are risks associated with foreign operations, as the operators are exposed to unfamiliar situations. In this presentation, the author discusses a survey of Canadian managers and executives that attempted to identify the risks and strategies used to manage those risks in foreign operations. In addition, the author includes an extensive review of relevant literature and detailed case study. Project selection and data access; political, economic and business risks; National Oil Companies (NOC)/government relationships and cultural differences; project leadership and organization; environmental, health and safety (EH and S) and security risks; technical risk; and senior management support are the various categories used to summarize the approaches to risk management. 5 refs., 1 fig

  20. Oil market structures-strategies and performances of the actors of the international petroleum system

    International Nuclear Information System (INIS)

    Djermaine, Rebai

    1999-01-01

    The rises of petroleum prices as revealed by the oil crises of the 1970's are the consequences of a beside market perverse game between artificial factors. The public management and the intervention of public authorities have contributed to the unbalancing of oil markets and to the confusion of the actor's strategies in the international petroleum system. The chronical decay of the petroleum prices indicate the slow and silent come back of the economical forces (laws). The management of an exhaustible asset like petroleum, raises lot of intriguing problems. This work aims at exploring the problems linked with this type of management where the decisions of the profession, of private and public companies and of the governments are closely interfering. The study is largely inspired of the meso-economical approach which consists in examining the markets structure and their determining factors, and the strategies and results of the actors of the world petroleum system. The examination of the structures/strategies/results sequence does not neglect the relations and feedbacks between each of these elements. The economical theory of oligopoly and cartel markets is also used to examine the way how prices are determined in petroleum markets. A critical presentation of the energy models allows to show how it is possible to understand, foresee and control the evolution of these prices and the possible supply/demand equilibrium. The study takes also into consideration the debates and controversies about the 'green tax' and its impact of petroleum supply and demand. (J.S.)

  1. Drilling in troubled waters. For an international regulation on offshore gas and oil activities

    International Nuclear Information System (INIS)

    Rochette, Julien

    2014-01-01

    Due to an increased energy demand, offshore activities are being extended to deep and ultra-deep waters: nearly one third of consumed oil and one quarter of consumed gas come from offshore drilling. This development threatens the environment and natural resources, and may have an impact on human activities which depend on the concerned ecosystems. As some accident had cross-border consequences, the relevance of the international regulatory framework is put into question again. This article first outlines the incomplete character of the legal framework for the safety of offshore activities: uncoordinated national systems, lack of an international convention, fragmented regional initiatives (some agreements exist for some specific regions: Arctic Sea, Baltic Sea, Mediterranean Sea, North-Eastern Atlantic, Persic Gulf and Oman Sea, Africa, western Indian Ocean). The author outlines that there is no international rules regarding responsibility and compensations. While highlighting the risks of a status-quo on these different issues, the author proposes and discusses a set of recommendations aimed at strengthening the regulation of offshore drilling activities

  2. Polycyclic Aromatic Hydrocarbons (PAHs) and Hopanes in Plastic Resin Pellets as Markers of Oil Pollution via International Pellet Watch Monitoring.

    Science.gov (United States)

    Yeo, Bee Geok; Takada, Hideshige; Hosoda, Junki; Kondo, Atsuko; Yamashita, Rei; Saha, Mahua; Maes, Thomas

    2017-08-01

    Oil pollution in the marine environment is an unavoidable problem due to chronic input from local sources, particularly in urban areas and oil spills. Oil pollution not only causes immediate physical damages to surrounding wildlife but also some components, including higher molecular weight PAHs, can persist in the environment for many years and pose insidious threats to the ecosystem. Long-term and nontargeted monitoring of oil pollution is important. This paper examines the ability of International Pellet Watch (IPW) for initial identification and monitoring of oil pollution by analysing PAHs and hopanes in plastic pellet samples collected globally by volunteers. PAH concentrations with the sum of 28 parent and methyl PAHs vary geographically, ranging from 0.035 to 24.4 µg/g-pellet, in line with the presence or absence of local oil pollution sources, such as oil refineries or oil spill sites. This suggests that PAHs can be used to monitor petroleum pollution in IPW. A colour-coded categorization for PAH concentrations within IPW monitoring also is established to facilitate data presentation and understanding. PAH concentrations are generally higher in Western Europe, especially around the North Sea shorelines, moderate in East Asia and North America, and lower in South East Asia, Oceania, South America, and Africa. Hopane concentrations, with a smaller spatial variation (1.7-101 µg/g-pellet), showed no spatial pattern. This result and the poor correlation between hopanes and PAHs suggest that hopane concentrations alone are unsuited to identify petroleum pollution. However, hopane compositions can be used for fingerprinting sources of oil pollution. Thus, both PAHs and hopanes in IPW allow for low cost, remote monitoring of global oil pollution.

  3. International trade in oil, gas and carbon emission rights: An intertemporal general equilibrium model

    International Nuclear Information System (INIS)

    Manne, A.S.; Rutherford, T.F.

    1994-01-01

    This paper employs a five-region intertemporal model to examine three issues related to carbon emission restrictions. First, we investigate the possible impact of such limits upon future oil prices. We show that carbon limits are likely to differ in their near- and long-term impact. Second, we analyze the problem of open-quotes leakageclose quotes which could arise if the OECD countries were to adopt unilateral limits upon carbon emissions. Third, we quantify some of the gains from trade in carbon emission rights. Each of these issues have been studied before, but to our knowledge this is the first study based on a multi-regional, forward-looking model. We show that sequential joint maximization can be an effective way to compute equilibria for intertemporal general equilibrium models of international trade. 18 refs., 10 figs

  4. Oils

    Energy Technology Data Exchange (ETDEWEB)

    Fabbri, S

    1909-11-29

    Mineral, shale, and like oils are treated successively with sulfuric acid, milk of lime, and a mixture of calcium oxide, sodium chloride, and water, and finally a solution of naphthalene in toluene is added. The product is suitable for lighting, and for use as a motor fuel; for the latter purpose, it is mixed with a light spirit.

  5. National Assembly report on the bill authorizing joining the 2001 International Convention on Civil Liability for Bunker Oil Pollution Damage

    International Nuclear Information System (INIS)

    2010-01-01

    This report first gives an overview of the progressive implementation of measures and international convention to prevent pollution by ships: the Oilpol convention (Convention for the Prevention of Pollution of the Sea by Oil), the Marpol convention (Marine Pollution), and the different international conventions on liability and compensation (International Convention on Civil Liability for Oil Pollution, International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea, convention on other damages). It also describes the French system to struggle against marine pollution. Then, it presents the main arrangements of the 2001 Convention (liability, mandatory insurance and certificate, and so on), expresses some reserves on the chosen arrangement, and comments the impact of this convention

  6. 2002 results: TotalFinaElf makes a ''much better performance'' than the overall international oil groups

    International Nuclear Information System (INIS)

    Salles, E.

    2003-01-01

    T. Desmarest, head of TotalFinaElf oil and gas company, has presented the 2002 results of his company in the particular context of a moving international oil situation (the Iraq crisis and the situation in Venezuela) with important consequences on markets. At the same time, the company decided to change its name into 'Total' and to adopt a new logo. The results show a 17% drop with respect to 2001 but a 10% increase of the production. The high rate of exploration successes has led to the discovery of about 1 billion of bpe with a 0.8 US$ cost per bpe, which represents the best performance of the 5 world oil majors. The rate of reserves renewal reached 151% (11.2 billions of bpe at the end of 2002). The downstream activities (refining/distribution and basic chemistry) encountered much more problems for various reasons: low economic growth, climate warmth, international instability etc.. (J.S.)

  7. Developing and testing an internal audit tool of the psychosocial work environment in the oil and gas industry

    NARCIS (Netherlands)

    Vestly Bergh, L.I.; Hinna, S.; Leka, S.; Zwetsloot, G.I.J.M.

    2016-01-01

    The objective of this paper is to present and discuss a pilot study for conducting internal psychosocial risk auditing in the oil and gas industry, focusing on offshore units. Psychosocial risk auditing is a proactive method for monitoring the status of psychosocial factors influencing the risk of

  8. Oil spills

    International Nuclear Information System (INIS)

    Spaulding, M.L.; Reed, M.

    1990-01-01

    Public awareness and concern for the potential short and long term impacts of oil spills on the marine environment has generally been high, particularly for regions of special ecological importance or where significant numbers of marine mammals and birds are present. This awareness was further heightened by the extraordinary number of recent large spills in coastal U.S. water: Exxon Valdez, Alaska; World Prodigy, Rhode Island; Presidente Rivera, Delaware; Rachel-B, Texas and American Trader, California. The occurrence of so many spills in a one year period is unprecedented in U.S. spill history. The legislative response to these spills has been immediate. New legislative initiative are rapidly being developed. Improved ways to organize spill response efforts are being devised and implemented. Funds are being allocated to further develop and improve spill response equipment and damage assessment methodologies. These spill events will have a significant impact in both the short and long term on oil exploration, development and transport in marine waters. They will result in major changes in management and operation of oil exploration and development. The purpose of this conference was to provide a forum for discussion of the changes which are currently taking place in oil spill legislation, management, and response strategies

  9. Chinese traders in Serbia: Gender opportunities, translocal family strategies, and transnational mobility

    Directory of Open Access Journals (Sweden)

    Maja Korać-Sanderson

    2013-12-01

    In this paper I focus on Chinese trading migration to Serbia. I argue that in choosing destinations for their businesses Chinese traders increasingly opt for underdeveloped regions and transition societies not because they provide good business opportunities measured by economic indicators alone. Rather, these destinations are chosen because they provide better opportunities for an entrepreneurial life embedded in self-reliance and self-management. Some of these opportunities, as my discussion will demonstrate, are importantly gendered, opening up new gender space for young families and for women in particular. My discussion will further point out that because business opportunities in Serbia do not necessarily imply desirable living conditions, Chinese traders diversify their family strategies, which are translocally and transnationally negotiated. In doing so, I argue, they become protagonists, actively involved in establishing their livelihoods and flexible ways of incorporation.

  10. Oil Pipelines, Politics and International Business : The Rotterdam Oil Port, Royal Dutch Shell and the German Hinterland, 1945-1975

    NARCIS (Netherlands)

    M. Boon (Marten)

    2014-01-01

    markdownabstractThe dissertation questions how and why the transition from coal to oil affected the economic relations between the Port of Rotterdam and its German hinterland between 1945 and 1975. From the 1880s onwards, Rotterdam had become the main seaport of the German industrial heartland in

  11. Forming Factors And Builder Indicators Of Brand Personality Models In Traditional Retail Traders

    OpenAIRE

    Yunelly Asra; Teguh Widodo

    2017-01-01

    This study aims to find the factors forming and indicator builder model of brand personality of traditional retail traders through measuring the influence of retail mix and culture. The formation of brand personality uses Aaker brand personality dimension to 250 consumers in Bengkalis Regency. The type of research is causal research design. The research variables are brand personality Retail Mix and Brand Personality. Data collection is done by probability sampling with purposive method. Data...

  12. Estimating the impact of transport efficiency on trade costs: Evidence from Chinese agricultural traders

    OpenAIRE

    Li, Zhigang; Yu, Xiaohua; Zeng, Yinchu

    2011-01-01

    Using a unique survey data on agricultural traders in China in 2004, this study provides direct evidence on significance of interregional transport costs and their key determinants. Our major findings are as follows: (1) the trade barriers within China are dominated by transport-related costs but not artificial barriers, approximated by tolls and fines; (2) Labor and fuels costs are the most significant component of transport costs; (3) road quality is very important for transportation effici...

  13. Second-to-fourth digit ratio predicts success among high-frequency financial traders.

    Science.gov (United States)

    Coates, John M; Gurnell, Mark; Rustichini, Aldo

    2009-01-13

    Prenatal androgens have important organizing effects on brain development and future behavior. The second-to-fourth digit length ratio (2D:4D) has been proposed as a marker of these prenatal androgen effects, a relatively longer fourth finger indicating higher prenatal androgen exposure. 2D:4D has been shown to predict success in highly competitive sports. Yet, little is known about the effects of prenatal androgens on an economically influential class of competitive risk taking-trading in the financial world. Here, we report the findings of a study conducted in the City of London in which we sampled 2D:4D from a group of male traders engaged in what is variously called "noise" or "high-frequency" trading. We found that 2D:4D predicted the traders' long-term profitability as well as the number of years they remained in the business. 2D:4D also predicted the sensitivity of their profitability to increases both in circulating testosterone and in market volatility. Our results suggest that prenatal androgens increase risk preferences and promote more rapid visuomotor scanning and physical reflexes. The success and longevity of traders exposed to high levels of prenatal androgens further suggests that financial markets may select for biological traits rather than rational expectations.

  14. A multi-assets artificial stock market with zero-intelligence traders

    Science.gov (United States)

    Ponta, L.; Raberto, M.; Cincotti, S.

    2011-01-01

    In this paper, a multi-assets artificial financial market populated by zero-intelligence traders with finite financial resources is presented. The market is characterized by different types of stocks representing firms operating in different sectors of the economy. Zero-intelligence traders follow a random allocation strategy which is constrained by finite resources, past market volatility and allocation universe. Within this framework, stock price processes exhibit volatility clustering, fat-tailed distribution of returns and reversion to the mean. Moreover, the cross-correlations between returns of different stocks are studied using methods of random matrix theory. The probability distribution of eigenvalues of the cross-correlation matrix shows the presence of outliers, similar to those recently observed on real data for business sectors. It is worth noting that business sectors have been recovered in our framework without dividends as only consequence of random restrictions on the allocation universe of zero-intelligence traders. Furthermore, in the presence of dividend-paying stocks and in the case of cash inflow added to the market, the artificial stock market points out the same structural results obtained in the simulation without dividends. These results suggest a significative structural influence on statistical properties of multi-assets stock market.

  15. Evidence of Allergic Reactions and Cardiopulmonary Impairments among Traders Operating from Foodstuff Warehouses

    Directory of Open Access Journals (Sweden)

    Sam Ibeneme

    2016-01-01

    Full Text Available Background. Foodstuff traders operating from warehouses (FTFW are potentially exposed to dangerous rodenticides/pesticides that may have adverse effects on cardiopulmonary function. Methods. Fifty consenting male foodstuff traders, comprising 15 traders (21–63 years operating outside warehouses and 35 FTFW (20–64 years, were randomly recruited at Ogbete Market, Enugu, in a cross-sectional observational study of spirometric and electrocardiographic parameters. Seventeen FTFW (21–57 years participated in focus group discussions. Qualitative and quantitative data were analysed thematically and with independent t-test and Pearson correlation coefficient at p0.05 with a significantly prolonged (p<0.05 QTc interval. Conclusion. Allergic response was evident in the FTFW. Significant decrease in FVC may negatively impact lung flow rates and explains the marginal decrease in FEF25–75, which implies a relative limitation in airflow of peripheral/distal airways and elastic recoil of the lungs. This is consistent with obstructive pulmonary disease; a significant decrease in FEF75–85/FEV1 supports this conclusion. Significant decrease in FEF200–1200 indicates abnormalities in the large airways/larynx just as significantly prolonged ventricular repolarization suggests cardiac arrhythmias.

  16. Do Emotions Expressed Online Correlate with Actual Changes in Decision-Making?: The Case of Stock Day Traders

    OpenAIRE

    Liu, Bin; Govindan, Ramesh; Uzzi, Brian

    2016-01-01

    Emotions are increasingly inferred linguistically from online data with a goal of predicting off-line behavior. Yet, it is unknown whether emotions inferred linguistically from online communications correlate with actual changes in off-line activity. We analyzed all 886,000 trading decisions and 1,234,822 instant messages of 30 professional day traders over a continuous 2 year period. Linguistically inferring the traders' emotional states from instant messages, we find that emotions expressed...

  17. The influence of the plant essential oils on internal qualitative parameters and microbiological indicators of hens eggs content

    Directory of Open Access Journals (Sweden)

    Henrieta Arpášová

    2010-01-01

    Full Text Available Essential oils are aromatic oily liquids obtained from plant material (flowers, buds, seeds, leaves, twigs, bark, herbs, wood, fruits and roots. Besides antibacterial properties, essential oils or their components have been shown to exhibit antiviral, antimycotic, antitoxigenic, antiparasitic, and insecticidal properties. In this experiment the effects of supplementation of the diet for laying hens with thyme and hyssop essential oils on physical and microbiological egg parameters were studied. Hens of laying hybrid ISA Brown (n = 72 were randomly divided at the day of hatching into 3 groups (n = 26 and fed for 41 weeks on diets which differed in kind of essential oil supplemented. In the first ex­pe­ri­men­tal group the feed mixture was supplemented with thyme essential oil addition 0.25ml . kg−1, in the second one got hyssop essential oil the same dose of 0.25ml . kg−1. The results suggest that the supplementation of thyme essential oil into laying hens diet statistically significantly increased egg albumen weight, egg albumen percentage portion (P < 0.05 and egg yolk colour (9.07a, 9.47b, 9.06a; P < 0.01, compared to the control group and decreased egg yolk percentage ratio. However, the most of qualitative parameters of internal content egg were not with thyme and hyssop essential oils addition significantly influenced. Significant differences in microbiological indicators were found among coliforms bacteria, enterococci, total number count (P < 0.001, lactobacilli and mesophilic sporulating aerobes bacteria (P < 0.05.

  18. Higher prices at Canadian gas pumps: international crude oil prices or local market concentration? An empirical investigation

    International Nuclear Information System (INIS)

    Anindya Sen

    2003-01-01

    There is little consensus on whether higher retail gasoline prices in Canada are the result of international crude oil price fluctuations or local market power exercised by large vertically-integrated firms. I find that although both increasing local market concentration and higher average monthly wholesale prices are positively and significantly associated with higher retail prices, wholesale prices are more important than local market concentration. Similarly, crude oil prices are more important than the number of local wholesalers in determining wholesale prices. These results suggest that movements in gasoline prices are largely the result of input price fluctuations rather than local market structure. (author)

  19. 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)

  20. Competitive strategies and strategic positioning of oil companies in the international oil business: theory and practice in perspective; Strategies competitives et positionnement strategique des compagnies petrolieres dans le commerce petrolier international. Theorie et pratique en perspective

    Energy Technology Data Exchange (ETDEWEB)

    Dos Santos, E.M. [Sao Paulo Univ., SP (Brazil). Inst. de Electrotecnica e Energia-IEE; Teixeira Carneiro, J.M. [Pontifical Catholic University (Brazil). Managirial Science Dept.; Ferreira Deschamps Cvalcanti, M.A. [PETROBRAS, Rio de Janeiro, RJ (Brazil). Strategic Planning for the Downstream

    1999-05-01

    This is the first work of a series of four articles aiming to analyse the concepts of competitive strategy and strategic positioning of firms in the international oil industry. The authors present the essence of their analytical model, which are based on the theoretical framework of competitive strategy developed by Michael Porter, from the University of Harvard. The second article is published hereunder, the third and fourth ones will appear in the next issue. (authors)

  1. 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.

  2. The Next Generation Information Infrastructure for International Trade

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Gal, Uri; Bjørn-Andersen, Niels

    2011-01-01

    that are in control of their business. Trusted traders are entitled to trade facilitations, faster border crossing, and fewer physical inspections. To enable the use of trusted traders, changes are required to the information infrastructure (II) of international trade. This article complements existing works on e......-Government interoperability by a theoretically driven approach with theoretical development of the II concept and how II can be modified as additional focus. Following the principles of IS design research, this paper presents a design proposition for the II of international trade. Using theories of II development and change......Regulators and actors in international trade are facing a difficult challenge of increasing control and security while at the same time lowering the administrative burden for traders. As a tentative response, the European Commission has introduced the concept of “trusted traders”: certified traders...

  3. 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.

  4. Trader types and volatility of emission allowance prices. Evidence from EU ETS Phase I

    International Nuclear Information System (INIS)

    Balietti, Anca Claudia

    2016-01-01

    This paper studies the relation between the trading activity of market participants and the volatility of the European Emission Allowance price during Phase I of the European Union Emission Trading System (EU ETS). We focus on the contrasting roles of different trader types. We find evidence of a positive and significant trading activity–volatility relation, which appears to be stronger when accounting for trader type. The positive relation can be mainly attributed to energy providers. In contrast, industrial companies seem to have traded more frequently when volatility levels were lower. Finally, the non-liable players, represented by financial intermediaries, appear to have acted as a flexible counterparty, trading more with the energy sector when volatility was higher, and more with the industrial firms when volatility was lower. We discuss possible explanations for these contrasted positions. Understanding the trading activity–volatility link is relevant for evaluating the efficiency of the EU ETS. Although the relation is generally positive, many players remained often inactive and traded mostly when volatility levels were lower. Policies targeting the engagement of less active players could lead to a smoother incorporation of information into prices and to an increase in market efficiency. - Highlights: • We study the permit price volatility–trading activity link in the EU ETS Phase I. • We focus on the contrasting roles of different market players. • We show that the relation was overall positive, mainly due to energy providers. • Many other players remained inactive and traded more when volatility was lower. • Policies for the engagement of less active traders could increase market efficiency.

  5. Vulnerability and Knowledge of Sexually Transmitted Infections Among Female Traders of Reproductive Age in Enugu, Nigeria

    Science.gov (United States)

    Ikeako, LC; Ekwueme, OC; Ezegwui, HU; Okeke, TOC

    2014-01-01

    Background: Sexually transmitted infections (STIs) constitute major public health concern and enigma. A comprehensive knowledge of the modes of transmission is necessary to evolve an effective preventive strategy. Aim: The aim of the study is to assess the vulnerability, knowledge and prevention of STIs among female traders of reproductive age in Enugu, Southeast Nigeria. Subjects and Methods: This was a cross-sectional descriptive study carried out on female traders aged 15-49 years at Ogbete Main Market, Enugu, Southeast Nigeria. Data was analyzed using Epi-Info 2000 version 3.3.1 Centers for Disease Control and Prevention Atlanta USA) was used to analyze the data and results were presented in tabular form. Results: A total of 200 female traders of reproductive age participated in the study. The mean (standard deviation) age was 26 (7.4) years. 16% (32/200) were adolescents. Knowledge of specific STIs was highest for human immunodeficiency virus/acquired immune deficiency syndrome 90% (130/200). Parents were poor sources of information as only 28.5% (57/200) respondents heard about STIs from their parents compared with 46% (92/200) from friends and peers. Risk factors identified were multiple sexual partners 75.5% (151/200), non-use of condoms 62% (124/200) and early debut 58% (116/200). Majority 67.5% (135/200) were aware that STIs could be treated by a visit to the doctor while 21.5% (43/200) preferred traditional/herbal healers. Conclusion: The inclusion of health education in schools’ curricula to ensure that adolescents are adequately aware of STIs, their modes of transmission, prevention and treatment before embarking on any vocation out-of-school is advocated. PMID:24669343

  6. The Challenges Faced by Informal Traders in Greater Letaba Municipality in Limpopo Province, South Africa

    Directory of Open Access Journals (Sweden)

    Kole Legodi

    2015-12-01

    Full Text Available Informal trade has grown at an alarming rate in South Africa because of lack of employment opportunities in both the private and public sectors. This has resulted in many unemployed members of the population joining the informal business sector. The majority of people in this sector do not have skills that are needed in the formal employment sector, others are semi-literate and a small percentage has some level of qualification. Nevertheless, this sector is plagued by a number of challenges which this article presents.  The article reports on the study that was conducted at Greater Letaba Municipality in Limpopo Province. The aim of the study was to investigate the challenges that were faced by informal traders in Greater Letaba Municipality in Limpopo Province in South Africa. The area was chosen because of its accessibility to the researchers and its potential to provide relevant and accurate information for the research project. Thus, a qualitative research method was used to collect data through face to face interviews. The research discovered that some of the challenges experienced by the informal traders in the area ranged from lack of support from the local municipality to structural challenges like lack of ablution facilities and limited access to electricity. Furthermore, other challenges concerned safety and health issues that were also gender based. Most of the traders in the area were women; an element which attest to the fact that it is difficult to find employment in the country when one is less educated and is also a woman.

  7. Re-engaging the Distribution of Rewards among Small-Scale Farmers and Traders in Ghana

    DEFF Research Database (Denmark)

    Zakaria, Anne Lassen

    practices of farmers and traders involved in yam and cassava production and trade, and how they relate and do business. By exploring existing practices, the knowledge obtained may contribute to tailoring development interventions that consider existing systems, and thus combine a more sustainable approach...... had in this game. The study thus contributes to the ongoing development of theories and concepts within trust research that seek to acknowledge structure-agency issues further in relation to trusting. Moreover, the study contributes to acknowledging existing systems further, in development...

  8. Trends in business management strategies of major international oil companies; Kokusai sekiyu kigyo meja no keiei senryaku no doko

    Energy Technology Data Exchange (ETDEWEB)

    Kashio, H. [The Institute of Energy Economics, Tokyo (Japan)

    1995-07-01

    This paper summarizes the former half part of the analysis made on business strategies of major international oil companies. The net earning of R/D Shell in fiscal 1994 increased by 1.8 billion dollars to 6.3 billion dollars. Its loan rate decreased to 16.7%. It increased the crude oil production by 3% to 2.2 million B/D, and the natural gas production by 1.2% to 7.3 billion cfd. The upstream department had the net earning decreased by 23% to 2.4 billion dollars because of decline in crude oil price. The net earning of the downstream department showed an increase by 20% over that in the previous year to 3.2 billion dollars. The chemical department had its business turned to black ink. The net earning of Exxon in the same year decreased by 200 million dollars to 5.1 billion dollars due to the reduced crude oil price and low refining margin. The upstream and downstream departments showed a decrease of 530 million and 630 million dollars respectively. The chemical department had an increase of 130% to 950 million dollars as a result of the recovery in the European markets. The net earning of Mobile in the same year showed a decrease of 2.1 billion dollars, ending in the amount of 1.1 billion dollars. The decrease has been caused by the decline in crude oil and natural gas prices and a 30% reduction in the refining margin. The chemical department changed for the better, with improved sales margins in oil products sold in overseas markets. 28 figs.

  9. Two Oils, Same Phenomena: Historicizing Exclusion, Poverty and ...

    African Journals Online (AJOL)

    During the era of the slave trade they made wealth from the trade acting as middlemen between the hinterland slave producers and coast-based European traders. They also accumulated wealth from the palm oil trade following the abolition of the slave trade. However, these communities whose elites enjoyed profound

  10. 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)

  11. TEM and HRTEM of Soot-in-oil particles and agglomerates from internal combustion engines

    International Nuclear Information System (INIS)

    Fay, M W; Rocca, A La; Shayler, P J

    2014-01-01

    Over time, the performance of lubricating oil in a diesel engine is affected by the build-up of carbon soot produced by the combustion process. TEM and HRTEM are commonly used to investigate the characteristics of individual and agglomerated particles from diesel exhaust, to understand the structure and distribution of the carbon sheets in the primary particles and the nanostructure morphology. However, high resolution imaging of soot-in-oil is more challenging, as mineral oil is a contaminant for the electron microscope and leads to instability under the electron beam. In this work we compare solvent extraction and centrifugation techniques for removing the mineral oil contaminant, and the effect on particle size distribution

  12. Unruly women and invisible workers: the shrimp traders of Mazatlán, Mexico.

    Science.gov (United States)

    Cruz-Torres, María L

    2012-01-01

    During the 1980s, a group of women from rural communities in the Mexican state of Sinaloa organized a grassroots social movement in order to gain legal access to the sale of shrimp. The movement reached its peak in 1984, with the formation of a shrimp traders union and the establishment of a shrimp marketplace in the tourist city of Mazatlán. Despite the long trajectory of the movement and the success of the shrimp market, these women and their work have been completely ignored by government agencies in charge of the development and management of the fishing industry. For the most part, one gets to read about the shrimp traders only in tourist-oriented brochures depicting them as a “local attraction,” something to be seen while one is touring the city on a private charter bus en route to the Archaeological Museum or to the upscale jewelry shops in the Golden Zone. In this article, I examine how women used their gender and their identity as rural workers to defy the state and its policies, overcome poverty, and take control of the local marketing of shrimp. Another objective of this article is to show why and how women engaged in collective action so they could be legitimized as workers and how gender shaped their individual experiences.

  13. Vitamins as radioprotectors in vivo II. protection by vitamin A and soybean oil against radiation damage caused by internal radionuclides

    International Nuclear Information System (INIS)

    Harapanhalli, R.S.; Narra, V.R.; Yaghmai, V.; Azure, M.T.; Goddu, M.; Howell, R.W.; Rao, D.V.

    1994-01-01

    Tissue-incorporated radionuclides impart radiation energy over extended periods of time depending on their effective half-lives. The capacity of vitamin A dissolved in soybean oil to protect against the biological effects caused by internal radionuclides is investigated. The radiochemicals examined are DNA-binding 125 IdU, cytoplasmically localized H 125 IPDM and the α-particle emitter 210 Po citrate. As in our previous studies, spermatogenesis in mice is used as the experimental model and spermatogonial cell survival is the biological end point. Surprisingly, soybean oil itself provides substantial and equal protection against the Auger effect of 125 IdU, which is comparable to a high-LET radiation effect, as well as the low-LET effects of H 125 IPDM, the dose modification factors (DMFs) being 3.6 ± 0.9 (SEM) and 3.4 ± 0.9, respectively. The protection afforded by the oil against the effects of 5.3 MeV α particles emitted by 210Po is also significant (DMF = 2.2 ± 0.4). The presence of vitamin A in the oil further enhanced the radioprotection against the effect of 125 IdU (DMF = 4.8 ± 1.3) and H 125 IKPDM (DMF = 5.1 ± 0.6); however, no enhancement is provided against the effects of α particles. These interesting results with soybean oil and vitamin A, together with data on the subcellular distribution of the protectors, provide clues regarding the mechanistic aspects of the protection. In addition, the data for vitamin A reaffirm our earlier conclusion that the mechanism by which DNA-bound Auger emitters impart biological damage is primarily indirect in nature. 29 refs., 7 figs., 2 tabs

  14. Lipid and protein oxidation in the internal part of italian type salami containing basil essential oil (Ocimum basilicum L.

    Directory of Open Access Journals (Sweden)

    Alexandre José Cichoski

    2011-06-01

    Full Text Available Different concentrations of basil essential oil (Ocimum basilicum L. (0.19; 0.38; 0.75; 1.87; 3.75 and 6.00 mg.g-1 were evaluated in relation to their antioxidant activity using the DPPH● radical methodology. From the IC50 obtained data, the concentrations of 0.19; 0.38; 0.75; 1.87; 3.75; 6.00 and 12.00 mg.mL-1 were applied directly to the product and these were sensorially evaluated by the test of control difference. The concentrations related to the highest acceptability (0.19; 0.38 and 0.75 mg.g-1 were tested for antioxidant activity in the internal part of Italian type salami - during the processing and after 30 days of storage, in terms of lipid and protein oxidation. The oxidation of lipids was determined using the method of TBARS. The method of carbonyl compounds was employed for proteins oxidation. Five different formulations of salami were elaborated: blank (without the use of antioxidant; control (using sodium eritorbate as antioxidant; and adding 0.19; 0.38 and 0.75 mg.g-1 of basil essential oil. The product was kept between 25 ºC and 18 ºC and UR between 95% and 70%, for 28 days. Analyses were carried out on the processing day and after 2, 7, 14, 21 and 28 days, and also following 30 days of storage. The basil essential oil in vitro presented an antioxidant activity of IC50 12 mg.mL-1. In the internal part of the Italian type salami the commercial antioxidant (control and the formulation containing 0.75 mg.g-1 of basil essential oil presented antioxidant activity in relation to the lipids, but not to the proteins - during processing and storage.

  15. Comparison of Y-jet and OIL effervescent atomizers based on internal and external two-phase flow characteristics

    Directory of Open Access Journals (Sweden)

    Mlkvik Marek

    2016-01-01

    Full Text Available Presented paper focuses on spraying of two viscous liquids (μ = 60 and 143 mPa·s by two types of twinfluid atomizers with internal mixing. We compared the well-known Y-jet atomizer with the less known, “outside in liquid” (OIL, configuration of the effervescent atomizer. The required liquid viscosity was achieved by using the water-maltodextrin solutions of different concentrations. Both the liquids were sprayed at two gas inlet pressures (Δp = 0.14 and 0.28 MPa and various gas-to-liquid ratios (GLR = 2.5%, 5%, 10% and 20%. The comparison was focused on four characteristics: liquid flow-rate (for the same working regimes, defined by Δp and GLR, internal flow regimes, Weber numbers of a liquid breakup (We and droplet sizes. A high-speed camera and Malvern Spraytec laser diffraction system were used to obtain necessary experimental data. Comparing the results of our experiments, we can state that for both the liquids the OIL atomizer reached higher liquid flow-rates at corresponding working regimes, it was typical by annular internal flow and higher We in the near-nozzle region at all the working regimes. As a result, it produced considerably smaller droplets than the second tested atomizing device, especially for GLR < 10%.

  16. Comparison of Y-jet and OIL effervescent atomizers based on internal and external two-phase flow characteristics

    Science.gov (United States)

    Mlkvik, Marek; Zaremba, Matous; Jedelsky, Jan; Jicha, Miroslav

    2016-03-01

    Presented paper focuses on spraying of two viscous liquids (μ = 60 and 143 mPa·s) by two types of twinfluid atomizers with internal mixing. We compared the well-known Y-jet atomizer with the less known, "outside in liquid" (OIL), configuration of the effervescent atomizer. The required liquid viscosity was achieved by using the water-maltodextrin solutions of different concentrations. Both the liquids were sprayed at two gas inlet pressures (Δp = 0.14 and 0.28 MPa) and various gas-to-liquid ratios (GLR = 2.5%, 5%, 10% and 20%). The comparison was focused on four characteristics: liquid flow-rate (for the same working regimes, defined by Δp and GLR), internal flow regimes, Weber numbers of a liquid breakup (We) and droplet sizes. A high-speed camera and Malvern Spraytec laser diffraction system were used to obtain necessary experimental data. Comparing the results of our experiments, we can state that for both the liquids the OIL atomizer reached higher liquid flow-rates at corresponding working regimes, it was typical by annular internal flow and higher We in the near-nozzle region at all the working regimes. As a result, it produced considerably smaller droplets than the second tested atomizing device, especially for GLR < 10%.

  17. pH-induced inversion of water-in-oil emulsions to oil-in-water high internal phase emulsions (HIPEs) using core cross-linked star (CCS) polymer as interfacial stabilizer.

    Science.gov (United States)

    Chen, Qijing; Deng, Xiaoyong; An, Zesheng

    2014-06-01

    A pH-responsive core cross-linked star (CCS) polymer containing poly(N,N-dimethylaminoethyl methacrylate) (PDMAEMA) arms was used as an interfacial stabilizer for emulsions containing toluene (80 v%) and water (20 v%). In the pH range of 12.1-9.3, ordinary water-in-oil emulsions were formed. Intermediate multiple emulsions of oil-in-water-in-oil and water-in-oil-in-water were formed at pH 8.6 and 7.5, respectively. Further lowering the pH resulted in the formation of gelled high internal phase emulsions of oil-in-water type in the pH range of 6.4-0.6. The emulsion behavior was correlated with interfacial tension, conductivity and configuration of the CCS polymer at different pH. © 2014 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

  18. Nerves of steel: Canadians devised formula for international oil ventures behind enemy lines in the Cold War

    International Nuclear Information System (INIS)

    Jaremko, G.

    2002-01-01

    The Canadian formula for international success in oil, natural gas and associated services and equipment is described as a blend of stamina in extreme natural environments, an open mind, a sharp eye for technical opportunity, technical creativity, a sharp eye for fitting into foreign communities, and willingness to chart an independent course through global political conflict. By way of background, little known early western ventures into the then-touchiest international arena, the Soviet Union, are described. >From these early ventures in the 1970s resulted some pioneering ideas which, with Canadian refinements, became the cornerstones of today's oilfield technology: mud motors to drive bits with speed and precision, and SAGD or steam-assisted gravity drainage to tap the oil sands. It is well to remember that the industrial intelligence that gave us these fundamental tools was gathered at a time when it was common practice to disparage Russian industry for its shortcomings and inefficiency. Other examples cited are Nexen Inc.,'s successful exploitation of the Masila Block which has been producing an average of 118,300 barrels per day since 1993, which yielded $636 million in corporate cash flow in 2001. Nexen's 'Yemenization' program achieved 65 per cent employment of local hires and set an 80 per cent target for 2009, with scholarships and technology transfer plans serving the goal. This example of attention to community benefits such as employment, civic and health services, goes far towards making up for the Canadian drawback of small size by global industry standards. The independent streak in Canadian international oil and gas enterprise also continues to show most clearly at Talisman Energy, with its globally controversial role in Sudan. Despite continuous wrangling with missionary groups and advocates of U.S. sanctions against Sudan, Talisman Energy was able to persuade the government to make public the government's share in proceeds from the oil

  19. Nerves of steel: Canadians devised formula for international oil ventures behind enemy lines in the Cold War

    Energy Technology Data Exchange (ETDEWEB)

    Jaremko, G.

    2002-06-03

    The Canadian formula for international success in oil, natural gas and associated services and equipment is described as a blend of stamina in extreme natural environments, an open mind, a sharp eye for technical opportunity, technical creativity, a sharp eye for fitting into foreign communities, and willingness to chart an independent course through global political conflict. By way of background, little known early western ventures into the then-touchiest international arena, the Soviet Union, are described. >From these early ventures in the 1970s resulted some pioneering ideas which, with Canadian refinements, became the cornerstones of today's oilfield technology: mud motors to drive bits with speed and precision, and SAGD or steam-assisted gravity drainage to tap the oil sands. It is well to remember that the industrial intelligence that gave us these fundamental tools was gathered at a time when it was common practice to disparage Russian industry for its shortcomings and inefficiency. Other examples cited are Nexen Inc.,'s successful exploitation of the Masila Block which has been producing an average of 118,300 barrels per day since 1993, which yielded $636 million in corporate cash flow in 2001. Nexen's 'Yemenization' program achieved 65 per cent employment of local hires and set an 80 per cent target for 2009, with scholarships and technology transfer plans serving the goal. This example of attention to community benefits such as employment, civic and health services, goes far towards making up for the Canadian drawback of small size by global industry standards. The independent streak in Canadian international oil and gas enterprise also continues to show most clearly at Talisman Energy, with its globally controversial role in Sudan. Despite continuous wrangling with missionary groups and advocates of U.S. sanctions against Sudan, Talisman Energy was able to persuade the government to make public the government's share in

  20. Size and profitability in the international oil- and gas industry; Stoerrelse og loennsomhet i den internasjonale olje- og gassindustrien

    Energy Technology Data Exchange (ETDEWEB)

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

    2002-07-01

    Many industrial sectors have gone through a series of mergers and acquisitions. In the international oil- and gas industry this has produced new companies such as ExxonMobil and TotalFinaElf. BP and Amoco merged and then subjugated Atlantic Richfield (ARCO). ChevronTexaco has been established and ConocoPhillips are currently working on the same thing. Saga was previously acquired by Norsk Hydro and Statoil, and Shell recently bought Enterprise and Pennzoil-Quaker. Taking the stock market's principles for corporate analysis and valuation as a starting point, this article discusses the forces behind this consolidation process.

  1. Live pig markets in eastern Indonesia: Trader characteristics, biosecurity and implications for disease spread.

    Science.gov (United States)

    Leslie, Edwina E C; Geong, Maria; Abdurrahman, Muktasam; Ward, Michael P; Toribio, Jenny-Ann L M L

    2016-03-01

    Classical swine fever has been negatively impacting pig production in Nusa Tenggara Timur province in eastern Indonesia since its introduction in the 1990s, with live market trade contributing to disease spread. To understand market trader knowledge and practices regarding pig management, biosecurity, pig movements and pig health (specifically CSF), a repeated survey was conducted with pig sellers and pig buyers at 9 market sites across West Timor and the islands of Flores and Sumba. A total of 292 sellers and 281 buyers were interviewed in 2009 during two periods (rounds), a high-demand month (September) and a low-demand month (November). Information was collected via questionnaire. The majority of traders were male (sellers: 89%; buyers: 87%) with the highest level of completed education being primary school (sellers: 48%; buyers: 41%). The primary occupation of most respondents was farming: 90% of sellers and 87% of buyers were smallholder pig farmers and tended to sell their own home-raised pigs at market (52%). Pigs were sold for monetary gain either for primary (52%) or extra income (44%). Markets tended to be selected based on a good reputation (62%), a location close to residence (62%) and having the desired pig type (59%). Pig sales through markets were reported to be highest from August to October with 31% of sellers trading pigs at two or more markets. Prices at market were significantly higher on Sumba compared to West Timor and cross-bred pigs were significantly more expensive than indigenous pigs. Understanding of CSF and biosecurity was limited: 85% of sellers and 83% of buyers had no prior knowledge of CSF. Fifty-four percent of sellers reported no use of any biosecurity practices at market. Most respondents (88%) were able to recognise at least one clinical sign of a sick pig. Informal pig movements were also identified: 18% of pig buyers purchased pigs directly from other farmers. This study has provided baseline information on market trader

  2. Fragmented International Governance of Arctic Offshore Oil : Governance Challenges and Institutional Improvement

    NARCIS (Netherlands)

    Humrich, Christoph

    The governance architecture in the Arctic region is subject to broad public and academic debate. Existing governance arrangements are not considered sufficient to minimize risks and impacts from Arctic offshore oil activities. These governance arrangements are fragmented between law of the sea

  3. Effects of packaging, mineral oil coating, and storage time on biogenic amine levels and internal quality of eggs.

    Science.gov (United States)

    Figueiredo, T C; Assis, D C S; Menezes, L D M; Oliveira, D D; Lima, A L; Souza, M R; Heneine, L G D; Cançado, S V

    2014-12-01

    This study was carried out with the aim of evaluating the effects of mineral oil application on eggshells and the use of plastic packages with lids on the physical-chemical and microbiological quality and biogenic amine contents of eggs stored under refrigeration for up to 125 d. A total of 1,920 eggs from 46-wk-old Hyline W36 laying hens were randomly distributed into 4 groups soon after classification: (i) 480 eggs were stored in pulp carton tray packages; (ii) 480 eggs were stored in plastic packages with lids; (iii) 480 eggs were stored in carton packages after the application of mineral oil; and (iv) 480 eggs were stored in plastic packages with lids after the application of mineral oil. The internal quality was measured by Haugh units, by the counts of mesophilic and psychrotrophic microorganisms, by the most probable number of total and thermal-tolerant coliforms, by the counts of molds and yeasts, by the analysis of Salmonella spp. and Staphylococcus spp., and by the levels of biogenic amines in the egg yolk and albumen. The application of mineral oil to the eggshell resulted in higher Haugh unit values throughout storage, and the use of plastic packages altered the internal quality. The application of mineral oil and the use of packaging had no effects on the microbiological and biogenic amine results. Microbiological analyses showed the absence of Salmonella spp., Staphylococcus aureus, thermal-tolerant coliforms, and fungi. However, the highest counts of mesophilic (1.1 × 10(7) cfu/g) and psychrotrophic (6.7 × 10(7) cfu/g) microorganisms were recorded. The highest values of biogenic amines detected and quantified were putrescine (2.38 mg/kg) and cadaverine (7.27 mg/kg) in the egg yolk and putrescine (1.95 mg/kg), cadaverine (2.83 mg/kg), and phenylethylamine (2.57 mg/kg) in the albumen. Despite these results, the biogenic amine levels recorded were considered low and would not be harmful to consumer health. ©2014 Poultry Science Association Inc.

  4. Methods for sampling geographically mobile female traders in an East African market setting

    Science.gov (United States)

    Achiro, Lillian; Kwena, Zachary A.; McFarland, Willi; Neilands, Torsten B.; Cohen, Craig R.; Bukusi, Elizabeth A.; Camlin, Carol S.

    2018-01-01

    Background The role of migration in the spread of HIV in sub-Saharan Africa is well-documented. Yet migration and HIV research have often focused on HIV risks to male migrants and their partners, or migrants overall, often failing to measure the risks to women via their direct involvement in migration. Inconsistent measures of mobility, gender biases in those measures, and limited data sources for sex-specific population-based estimates of mobility have contributed to a paucity of research on the HIV prevention and care needs of migrant and highly mobile women. This study addresses an urgent need for novel methods for developing probability-based, systematic samples of highly mobile women, focusing on a population of female traders operating out of one of the largest open air markets in East Africa. Our method involves three stages: 1.) identification and mapping of all market stall locations using Global Positioning System (GPS) coordinates; 2.) using female market vendor stall GPS coordinates to build the sampling frame using replicates; and 3.) using maps and GPS data for recruitment of study participants. Results The location of 6,390 vendor stalls were mapped using GPS. Of these, 4,064 stalls occupied by women (63.6%) were used to draw four replicates of 128 stalls each, and a fifth replicate of 15 pre-selected random alternates for a total of 527 stalls assigned to one of five replicates. Staff visited 323 stalls from the first three replicates and from these successfully recruited 306 female vendors into the study for a participation rate of 94.7%. Mobilization strategies and involving traders association representatives in participant recruitment were critical to the study’s success. Conclusion The study’s high participation rate suggests that this geospatial sampling method holds promise for development of probability-based samples in other settings that serve as transport hubs for highly mobile populations. PMID:29324780

  5. Oil pollution

    International Nuclear Information System (INIS)

    Mankabady, Samir.

    1994-08-01

    Oil enters the marine environment when it is discharged, or has escaped, during transport, drilling, shipping, accidents, dumping and offshore operations. This book serves as a reference both on the various complex international operational and legal matters of oil pollution using examples such as the Exxon Valdez, the Braer and Lord Donaldson's report. The chapters include the development of international rules on the marine environment, the prevention of marine pollution from shipping activities, liability for oil pollution damage, the conflict of the 1990 Oil Pollution Act and the 1992 protocols and finally the cooperation and response to pollution incidents. (UK)

  6. Safety at sea: oil spills, the tanker business and international regulations

    Energy Technology Data Exchange (ETDEWEB)

    Golomer, Olivier

    1994-02-01

    The tanker industry has been assailed in recent years with regulations, inspections, and many, many criticisms. The official objective of these pressures - the preservation of the environment from oil spills and oil contamination - is praiseworthy. However, many of these measures have proved inefficient or have led to ludicrous situations due in large part to them being targeted on crisis situations. Instead of emergency regulations spurred by sporadic disasters, both the tanker industry and protection of the environment need a set of economic instruments relying on a systematic assessment of risks. This paper focuses on these issues in the Very Large Crude Carrier segment of the tanker business. We start with a description of the industry and the actors in place, and then review the measures and policies adopted so far and their influence on the industry, especially in relation to freight rates. By analogy with other industries, a comprehensive approach to environmental hazards is then proposed. (Author)

  7. Oil market strengthening in the second half of 1992

    International Nuclear Information System (INIS)

    Beck, R.J.

    1992-01-01

    This paper reports that the economy and events in the Middle East continue to drive the oil market. Saudi Arabia's decision in March to reduce crude oil output boosted prices by about $3/bbl and may have signaled a significant change in the kingdom's price strategy. With Kuwaiti production capacity still less then its levels before the Iraqi invasion of 1990, with Iraqi exports still crimped by an international embargo, and with Saudi Arabia producing less than before, the market looks tight for the rest of the year. Last year's war to liberate Kuwait temporarily eliminated much of the surplus production capacity with which the Organization of Petroleum Exporting Countries had grappled for several years. This year, oil supply and demand have stayed in rough balance, even with Kuwaiti crude returning to the market. Two prospects have made traders nervous: resumption of Iraqi exports at significant levels and deliberate Saudi overproduction aimed at suppressing prices. The Saudi production cut put one of those fears to temporary rest. And negotiations between Baghdad and the United Nations over the Iraqi embargo seem unlikely to produce results for at least a while. Demand growth, meanwhile, will depend on economic performances of key oil consuming countries. In the US, modest economic recovery has increased industrial activity and stimulated demand for petroleum products. Crude oil and product prices began rising in April. Refiner additions to crude stocks have further added to the call on shrinking crude supplies, helping to lift prices. In turn, product prices have risen. With continued economic growth, prices will climb modestly throughout the year

  8. Effect of a herbal essential oil mixture on growth and internal organ ...

    African Journals Online (AJOL)

    Dietary treatments were: a control and two diets containing 24 mg/kg or 48 mg/kg of an essential oil mixture. There were no significant effects of dietary treatment on body weight of the broilers at 21 and 42 days. The effect of the age of the parents did not have a significant effect on body weight of the broilers at 21 and 42 ...

  9. International evolution of fat, oil and grease (FOG) waste management - A review

    OpenAIRE

    Wallace, Thomas; Gibbons, David; O'Dwyer, Michael; Curran, Thomas P.

    2017-01-01

    In recent years, issues relating to fat, oil and grease (FOG) in sewer systems have intensified. In the media, sewer blockages caused by FOG waste deposits, commonly referred to as 'fatbergs', are becoming a reminder of the problems that FOG waste can cause when left untreated. These FOG blockages lead to sanitary sewer overflows, property flooding and contamination of water bodies with sewage. Despite these financial and environmentally detrimental effects, a homogenous FOG waste management ...

  10. Rockets and feathers meet Joseph: Reinvestigating the oil-gasoline asymmetry on the international markets

    Czech Academy of Sciences Publication Activity Database

    Krištoufek, Ladislav; Luňáčková, P.

    2015-01-01

    Roč. 49, č. 1 (2015), s. 1-8 ISSN 0140-9883 R&D Projects: GA ČR(CZ) GP14-11402P Grant - others:GA ČR(CZ) GAP402/11/0948 Program:GA Institutional support: RVO:67985556 Keywords : Rockets and feathers * Asymmetry * Gasoline * Crude oil * Cointegration Subject RIV: AH - Economics Impact factor: 2.862, year: 2015 http://library.utia.cas.cz/separaty/2015/E/kristoufek-0452312.pdf

  11. Future oil supply: The changing stance of the International Energy Agency

    International Nuclear Information System (INIS)

    Miller, Richard G.

    2011-01-01

    The IEA was established in 1974 with a mandate to promote energy security amongst its members, namely the states of the OECD, and to advise those members on sound energy policy. Its recent forecasts of the medium and long term prospects for oil supply, however, have wavered, alternating from optimistic to pessimistic and back again. For policy-makers, such inconsistency is difficult to deal with. Firstly we examine whether the changing outlooks seen in IEA forecasts made between 2007 and 2010 truly reflect a demonstrable, underlying change in the known facts, and we can find no such factual changes reported by the IEA. Secondly we examine whether the serious criticisms of the forecast made by other analysts have yet been addressed, and we conclude that they have not. Thirdly we consider the possible effects of the current economic downturn upon the IEA's assumptions and upon future oil supply. We conclude that all the forecasts made by the IEA appear to be too optimistic throughout this period. - Research highlights: → IEA forecasts of oil supply have changed from optimistic to pessimistic and back. → The reasons for the changes are listed, examined and found wanting. → The most appropriate IEA forecast is nevertheless the most pessimistic one. → Some criticisms of the forecast methodology and assumptions are described.

  12. International payment for forest conservation. Special case: compensation for leaving the oil in the ground in Yasuni National Park, Ecuador

    Energy Technology Data Exchange (ETDEWEB)

    Rosendal, Kristin; Schei, Peter Johan; Eikeland, Per Ove; Gulbrandsen, Lars

    2008-02-15

    This report evaluates the Ecuadorian proposal to have the international community compensate Ecuador for not exploiting the oil in the ITT area of Yasuni National Park. It includes the evaluation of this proposal in a broader context, assessing the possible consequences of the arrangement for future systems for international payment for biodiversity/rain forest conservation or payment for other ecosystem services as outlined in the Millennium Ecosystem Assessment. Recently, the debate about international funding of rain forest conservation and payment for ecosystem services in general has received new momentum thanks to the climate change negotiations. Although the debate goes back several decades, the content has now been broadened to include at least five major concerns: carbon sequestration and uptake, biodiversity conservation, maintenance and balance of other ecosystem services, safeguarding the livelihoods of local and indigenous people, and adaptation to climate change. This report examines the various past and current efforts relating to the question of international payment for forest conservation, linking it to the international obligations of developed countries to support global environmental goals in developing countries. The Yasuni case raises several questions that are also relevant to the Norwegian Bali initiative to contribute NOK 3 billion annually over five years for forest conservation. A central question is how these (new) flows of funding should be organized in order to achieve the relevant internationally agreed objectives emanating from multilateral environmental agreements. Here we discuss the role of the GEF, with its implementing agencies the World Bank, UNDP and UNEP. We tie the discussion to the obligations that developed countries have undertaken to support the implementation of global environmental goals in developing countries as emanating from the Convention on Biological Diversity (CBD), as well as obligations pertaining to

  13. International payment for forest conservation. Special case: compensation for leaving the oil in the ground in Yasuni National Park, Ecuador

    Energy Technology Data Exchange (ETDEWEB)

    Rosendal, Kristin; Schei, Peter Johan; Eikeland, Per Ove; Gulbrandsen, Lars

    2008-02-15

    This report evaluates the Ecuadorian proposal to have the international community compensate Ecuador for not exploiting the oil in the ITT area of Yasuni National Park. It includes the evaluation of this proposal in a broader context, assessing the possible consequences of the arrangement for future systems for international payment for biodiversity/rain forest conservation or payment for other ecosystem services as outlined in the Millennium Ecosystem Assessment. Recently, the debate about international funding of rain forest conservation and payment for ecosystem services in general has received new momentum thanks to the climate change negotiations. Although the debate goes back several decades, the content has now been broadened to include at least five major concerns: carbon sequestration and uptake, biodiversity conservation, maintenance and balance of other ecosystem services, safeguarding the livelihoods of local and indigenous people, and adaptation to climate change. This report examines the various past and current efforts relating to the question of international payment for forest conservation, linking it to the international obligations of developed countries to support global environmental goals in developing countries. The Yasuni case raises several questions that are also relevant to the Norwegian Bali initiative to contribute NOK 3 billion annually over five years for forest conservation. A central question is how these (new) flows of funding should be organized in order to achieve the relevant internationally agreed objectives emanating from multilateral environmental agreements. Here we discuss the role of the GEF, with its implementing agencies the World Bank, UNDP and UNEP. We tie the discussion to the obligations that developed countries have undertaken to support the implementation of global environmental goals in developing countries as emanating from the Convention on Biological Diversity (CBD), as well as obligations pertaining to

  14. Financing the international oil industry - problems and risks in the Commonwealth of Independent States

    International Nuclear Information System (INIS)

    Kingston, M.L.

    1995-01-01

    For many, the former Soviet Union represents the best example of an oil and gas market. Its natural resource base, its geographical location, highly skilled workforce and its potential to raise significant amounts of capital all point to its future position. However, it is a market which is bedevilled with problems and uncertainties. Whether it be Russian Federation, or some of the key Central Asian states such as Kazakhstan, Uzbekistan or Azerbaijan in the Trans-Caucasus, a lack of stable government, an absence of a regulatory framework, a relative immaturity of domestic financial markets and overarching idealogical views which may not be consistent with market economies, all complicate prospects. (author)

  15. The role of Mexico in the first oil shortage: 1918-1922, an international perspective

    OpenAIRE

    M. del Mar Rubio Varas

    2005-01-01

    In 1921 Mexico produced a quarter of world’s petroleum, making the country the second largest producer in the world, but by 1930 it only accounted for 3 per cent of world’s production. To date the discussion has mostly relied on events taking place in Mexico for explaining the decline of the industry. Very little attention has been placed to developments in petroleum industry elsewhere, except Venezuela. Practically no attention has been paid to the reasons for the rise of oil output in Mexic...

  16. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    1994-05-01

    This monthly publication provides current international oil data. The Report presents data on international oil production, demand, imports, exports, and stocks. Section 1 contains time series data on world oil production, and on oil demand and stocks in the OECD. Section 2 presents an oil supply/demand balance for the world. Section 3 presents data on oil imports by OECD countries. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.

  17. Pig traders' networks on the Kenya-Uganda border highlight potential for mitigation of African swine fever virus transmission and improved ASF disease risk management.

    Science.gov (United States)

    Lichoti, Jacqueline Kasiiti; Davies, Jocelyn; Maru, Yiheyis; Kitala, Philip M; Githigia, Samuel M; Okoth, Edward; Bukachi, Salome A; Okuthe, Sam; Bishop, Richard P

    2017-05-01

    We applied social network analysis to pig trader networks on the Kenya-Uganda border. Social network analysis is a recently developed tool, which is useful for understanding value chains and improving disease control policies. We interviewed a sample of 33 traders about their experiences with trade and African swine fever (ASF), analyzed the networks they generated in purchasing pigs and selling pork and their potential contribution to modulating dissemination of the ASF virus (ASFV). The majority of the traders were aware of clinical signs of ASF and the risk of trade transmitting ASFV. Most said they avoided buying pigs from ASF outbreak villages or sick pigs but their experiences also indicated that inadvertent purchase was relatively common. Traders had early knowledge of outbreaks since they were contacted by farmers who had heard rumours and wanted to sell their pigs to avoid the risk of them dying. Individual traders bought pigs in up to nine villages, and up to six traders operated in a village. Although each trade typically spanned less than 5km, networks of the various traders, comprising movements of pigs from source villages to slaughter slabs/sites and retail outlets, and movement of pork to villages where it was consumed, linked up indirectly across the 100km×50km study area and revealed several trade pathways across the Kenya-Uganda border. ASF could potentially spread across this area and beyond through sequential pig and pork transactions. Regulation of the pig and pork trade was minimal in practice. The risk of ASFV being spread by traders was compounded by their use of poorly constructed slaughter slabs/sites with open drainage, ineffective or non-existent meat inspection services, lack of provision for biosecurity in the value chain, and sales of pork to customers who were unaware of the risks to their own pigs from contact with ASF infected pork. More effective regulation is warranted. However, limitations on government capacity, together with

  18. Derivation of the Boltzmann Equation for Financial Brownian Motion: Direct Observation of the Collective Motion of High-Frequency Traders

    Science.gov (United States)

    Kanazawa, Kiyoshi; Sueshige, Takumi; Takayasu, Hideki; Takayasu, Misako

    2018-03-01

    A microscopic model is established for financial Brownian motion from the direct observation of the dynamics of high-frequency traders (HFTs) in a foreign exchange market. Furthermore, a theoretical framework parallel to molecular kinetic theory is developed for the systematic description of the financial market from microscopic dynamics of HFTs. We report first on a microscopic empirical law of traders' trend-following behavior by tracking the trajectories of all individuals, which quantifies the collective motion of HFTs but has not been captured in conventional order-book models. We next introduce the corresponding microscopic model of HFTs and present its theoretical solution paralleling molecular kinetic theory: Boltzmann-like and Langevin-like equations are derived from the microscopic dynamics via the Bogoliubov-Born-Green-Kirkwood-Yvon hierarchy. Our model is the first microscopic model that has been directly validated through data analysis of the microscopic dynamics, exhibiting quantitative agreements with mesoscopic and macroscopic empirical results.

  19. The Influence of Small-Scale Power Plant Supporting Schemes on the Public Trader and Consumers

    Directory of Open Access Journals (Sweden)

    Renata Varfolomejeva

    2017-06-01

    Full Text Available The mechanism of support schemes for achieving the required share of renewable energy sources (RES was implemented into the energy sector. The issued amount of support requires state subsidies. The end-users of electricity are paying the mandatory procurement component taxes to cover these subsidies. The article examines the way of minimizing the influence of the existing RES supporting schemes on the consumers. The fixed purchased electricity price in the case of RES does not encourage producers to operate at hours of peak consumption or when the price is high. Modification of the RES support mechanisms at the legislative level, firstly, could minimize the influence of the mandatory procurement component on the end-users’ electricity price, and secondly, could provide a great opportunity for the public trader to forecast the operation of small power plants and their generation abilities. Numerical experiments with models of two types of power plants (biofuel and hydropower prove the existence of a problem and the presence of a solution. This problem constitutes the main subject of the present paper.

  20. Influence of individual rationality on continuous double auction markets with networked traders

    Science.gov (United States)

    Zhang, Junhuan

    2018-04-01

    This paper investigates the influence of individual rationality of buyers and sellers on continuous double auction market outcomes in terms of the proportion of boundedly-rational buyers and sellers. The individual rationality is discussed in a social network artificial stock market model by embedding network formation and information set. Traders automatically select the most profitable trading strategy based on individual and social learning of the profits and trading strategies of themselves and their neighbors, and submit orders to markets. The results show that (i) a higher proportion of boundedly-rational sellers induces a higher market price, higher sellers' profits and a higher market efficiency; (ii) a higher proportion of boundedly-rational sellers induces a lower number of trades and lower buyers' profits; (iii) a higher proportion of boundedly-rational buyers induces a lower market price, a lower number of trades, and lower sellers' profits; (iv) a higher proportion of boundedly-rational buyers induces higher buyers' profits and a higher market efficiency.

  1. Throughput of oil and demand for oil of non-stationary loaded sliding bearings in internal combustion engines. Oeldurchsatz und Oelbedarf instationaer belasteter Gleitlager am Verbrennungsmotor

    Energy Technology Data Exchange (ETDEWEB)

    Esch, H.J.

    1981-12-17

    The throughput of oil and the demand for oil of the non-stationary loaded sliding bearings was determined in a high speed petrol engine. The crankshaft bearing and connecting rod bearing were examined. The bearing temperature of the connecting rod bearing was measured by thermocouples built into this bearing; transmission of the signal from the rotating to the fixed part of the system was by means of a rotating transmitter. The temperature measurement in the crankshaft bearing was done by thermocouples in the bearing shell. Using a separate oil supply for the test bearing, the demand for oil was determined by reducing the oil pressure. Comparative oil throughput calculations were carried out to clear up the relationships discovered in the equipment. The results of the investigation are collected in 15 points, which are explained in detail. These include: negligible effect on the oil throughput of the ignition timing, air ratio and coolant temperature at constant speed and constant mean pressure, the considerable rise of the oil throughput through the connecting rod and crankshaft bearing with increasing speed, and the dominating effect of play in the bearing on the maximum bearing temperature.

  2. Treatment screening for internal corrosion control of PETROBRAS oil pipelines; Selecao de tratamento para controle da corrosao interna de oleodutos da PETROBRAS

    Energy Technology Data Exchange (ETDEWEB)

    Andrade, Cynthia de Azevedo; Muller, Eduardo Gullo [PETROBRAS, Rio de Janeiro, RJ (Brazil). Centro de Pesquisas; Antunes, Warlley Ligorio; Shioya, Nilce Hiromi; Salvador, Angelica Dias [PETROBRAS, RJ (Brazil). Unidade de Negocios da Bacia de Campos

    2005-07-01

    The use of corrosion inhibitors is spread out in oil and gas industry and is the most common methodology to control pipeline internal corrosion. However, their effectiveness depends on the pipeline material, inhibitor composition, flow type and scale characteristics. When a pipeline has heavy scale deposits, thick bacterial biofilm, or oxygen contamination, the corrosion control via filmic inhibitors is not effective. So, the only way to control internal corrosion of an oil pipeline is to primary identifies the corrosive agent and the main corrosion mechanism. The monitoring of the inhibitor efficiency and the determination of minimal residual concentration to prevent corrosion, are also fundamental. In this paper, is presented the criteria used to identify the main corrosion mechanism of oil pipelines, the treatment proposed in each case and the techniques employed in real time corrosion monitoring. (author)

  3. Coal and nuclear power should supplement oil - International Chamber of Commerce

    International Nuclear Information System (INIS)

    Gomez, B.

    1982-01-01

    The views of the International Chamber of Commerce on world energy planning are noted. The Chamber has suggested that governments should expedite and clarify environmental and safety regulations for nuclear energy and coal, both important and acceptable energy sources which offer abundant and economic means to reduce dependence on petroleum. Economic advantages and environmental hazards are considered

  4. Good thinking or gut feeling? Decision-making style and rationality in traders, bankers and financial non-experts

    OpenAIRE

    Thoma, Volker

    2013-01-01

    Research in cognitive psychology and behavioural finance has suggested that human decision-making is subject to the use of ‘heuristics’ – simple decision rules that produce systematic biases away from normative decision outcomes (Kahneman, 2003), and that even financial experts may be susceptible to heuristic thinking (e.g., Taleb, 2004).\\ud The current study investigated differences in decision-making style and the susceptibility to heuristics between financial traders, non-trading bank empl...

  5. [Contribution of histopathology in the diagnosis of mycetoma in a Cameroonian trader and possibility of an urban contamination].

    Science.gov (United States)

    Mendouga Menye, C R B; Kouotou, E A; Atangana, P J A

    2017-09-01

    Mycetoma are rare cutaneous affections caused by pathogens such as fungi or bacteria. They settle preferentially on limb extremities. We are going to talk about an original case of mycetoma in a young Cameroonian trader. A cutaneous mass with multiple draining sinuses was received at the anatomy and cytopathology laboratory. That mass was from a 30-year-old male trader, with no particular medical history and living in Yaounde, who was received for a lesion at the sole of the foot, which appeared some months before. This lesion started like a tough and painless nodule, which later showed draining sinuses to the skin. The surgical resection of the tissue mass was performed. The histopathological analysis with special staining procedures, which was later on performed, revealed mycetoma caused by fungi. This observation describes an original case of fungal mycetoma, which occured in a Cameroonian trader living in an urban milieu away from any mycetoma endemic zone. This case confirms the undeniable or undisputable contribution of histopathology in diagnosis of certainty. To our knowledge and according to available data, it is a premiere to find a case of mycetoma described in an urban milieu in Cameroon. Copyright © 2017 Elsevier Masson SAS. All rights reserved.

  6. International oil and gas strategies: corporate planning in the new world order

    International Nuclear Information System (INIS)

    Burns, T.G.

    1996-01-01

    The corporate planning process at Chevron Overseas Petroleum Inc. was totally revamped 5 years ago. The company's international exploration and production activities have forced them to recognize that business objectives and strategic plans must be aligned. The planning process described here involves staff groups from the departmental level up to the top of the organization, each providing input to goals and objectives. New venture planning, project approval, the role of technology transfer, and most importantly, the changing role of managing people resources, were discussed. With regard to 'people management' the need for team players, a variety of technical, linguistic, entrepreneurial, and technology transfer skills, adaptability, cultural awareness, and mobility, have been identified as the key ingredients for all successful players in the international arena

  7. Design optimization of twin-fluid atomizers with an internal mixing chamber for heavy fuel oils

    Energy Technology Data Exchange (ETDEWEB)

    Ferreira, German; Garcia, Juan Antonio; Barreras, Felix; Lozano, Antonio [LITEC, CSIC - Univ. Zaragoza, Maria de Luna 10, 50018 - Zaragoza (Spain); Lincheta, Eduardo [CECYEN, Universidad de Matanzas, Highway to Varadero, km 31/2, 44740 - Matanzas (Cuba)

    2009-02-15

    The present work is devoted to determine the magnitude of the main parameters that yield the optimum results for twin-fluid nozzles with an internal mixing chamber. The focus is placed on the study of the interaction of both air and liquid flows at the internal chamber and its effects on the resulting spray. To this end, some experiments have been performed for different air central channel diameters and liquid ports, as well as for several experimental conditions (air and liquid mass flow rates), in order to understand the influence of the flow conditions at the mixing chamber on the size of the droplets produced. It has been demonstrated that under certain experimental conditions the atomizing fluid discharged to the internal chamber is choked. The sonic condition is achieved for different air and liquid mass flow rates as a function of the air central channel diameter. It has also been obtained that to achieve the best results with moderate atomizing fluid flow rates, it is convenient to operate in choked conditions. This is an important result that will help in the optimum design of this type of nozzles. (author)

  8. The local knowledge of medicinal plants trader and diversity of medicinal plants in the Kabanjahe traditional market, North Sumatra, Indonesia.

    Science.gov (United States)

    Silalahi, Marina; Nisyawati; Walujo, Eko Baroto; Supriatna, Jatna; Mangunwardoyo, Wibowo

    2015-12-04

    Market is the main place for transactions of medicinal plants and traditional ingredients by local community in the Karo regency, North Sumatra, Indonesia. This is the first study to document the local knowledge of traders on and the diversity of the medicinal plants. The investigation was carried out in the Kabanjahe traditional market, in the Karo regency. The research goal was to reveal the local knowledge, diversity and utilization of medicinal plants, which have been traded in the Kabanjahe traditional market, as a basis for conservation efforts. The study was conducted through ethnobotanical approach using market surveys. All traders of medicinal plants were surveyed applying in-depth interviews and participative observations. Data were analyzed qualitatively using descriptive statistics. The diversity of medicinal plants was expressed in term of the Shannon-Wiener diversity index (H'), whereas the similarity among traders was indicated by Jaccard index (Ji). Traders of medicinal plants stored the simplicia of medicinal plants in chest of drawers, plastic baskets, plastic bags, and in the air by suspending them from the the stall ceilings. We recorded 344 species, 217 genera and 90 families of medicinal plants. Those that were sold mostly belong to Zingeberaceae (20 species), Poaceae (19 species), and Asclepiadaceae (17 species), and the species received high consumers demand, mostly belong to Zingiberaceae, Rutaceae, and Asclepidiaceae. Asclepidiaceae was used to treat diseases like cancer and heart problems. The Shannon-Wiener diversity index of medicinal plants at the Kabanjahe traditional market was high (H'= 5.637). The high Jaccard similarity index (Ji>0.56) suggested that the traders were trading similar species of medicinal plants. Kabanjahe traditional market is the center for the sale of of medicinal plants as traditional ingredients. Several species are well known for their pharmacological properties but others, [such as: Dischidia imbricata (Blume

  9. Modeling the lubrication, dynamics, and effects of piston dynamic tilt of twin-land oil control rings in internal combustion engines

    Energy Technology Data Exchange (ETDEWEB)

    Tian, T.; Wong, V.W.

    2000-01-01

    A theoretical model was developed to study the lubrication, friction, dynamics, and oil transport of twin-land oil control rings (TLOCR) in internal combustion engines. A mixed lubrication model with consideration of shear-thinning effects of multigrade oils was used to describe the lubrication between the running surfaces of the two lands and the liner. Oil squeezing and asperity contact were both considered for the interaction between the flanks of the TLOCR and the ring groove. Then, the moments and axial forces from TLOCR/liner lubrication and TLOCR/groove interaction were coupled into the dynamic equations of the TLOCR. Furthermore, effects of piston dynamic tilt were considered in a quasi three-dimensional manner so that the behaviors of the TLOCR at different circumferential location could be studied. As a first step, variation of the third land pressure was neglected. The model predictions were illustrated via an SI engine. One important finding is that around thrust and anti-thrust sides, the difference between the minimum oil film thickness of two lands can be as high as several micrometers due to piston dynamic tilt. As a result, at thrust and anti-thrust sides, significant oil can pass under one land of the TLOCR along the bore, although the other land perfectly seals the bore. Then, the capabilities of the model were further explained by studying the effects of ring tension and torsional resistance on the lubrication and oil transport between the lands and the liner. The effects of oil film thickness on the flanks of the ring groove on the dynamics of the TLOCR were also studied. Friction results show that boundary lubrication contributes significantly to the total friction of the TLOCR.

  10. Report on the costs of domestic and international emergencies and on the threats posed by the Kuwaiti oil fires as required by P. L. 102-55

    Energy Technology Data Exchange (ETDEWEB)

    1991-06-01

    The report fulfills the requirements of Public Law 12-55, the FY 1992 dire emergency supplemental appropriations bill, signed by the President on June 13, 1991. This law required the Director of the Office of Management and Budget to prepare and submit to the appropriate committees of Congress a report on: unfunded costs of dire emergencies because of floods, droughts, tornadoes, unemployment, and other disasters in the United States; unfunded costs, including food assistance, of international disaster emergencies existing because of floods, droughts, tornadoes, and other disasters; and the threats to oil supply, human health, and the environment that the Kuwaiti oil fires might pose.

  11. How international oil and gas companies respond to local content policies in petroleum-producing developing countries: A narrative enquiry

    International Nuclear Information System (INIS)

    Ngoasong, Michael Zisuh

    2014-01-01

    This paper uses narrative analysis to critically examine the business practices used by five international oil and gas companies (IOCs) (Chevron, ExxonMobil, Shell, BP and Total) to respond to local content policies in petroleum-producing developing countries (Nigeria, Angola, Venezuela, Kazakhstan, Brazil, Indonesia, Yemen and Indonesia) during the period 2000–2012. The business practices include the formulation of local content strategies that are implemented through programmes and initiatives aimed at developing and using host country suppliers and workforce. Such practices and the narratives used to communicate them implicitly reflect the context in which the effectiveness of local content policies on economic development can be assessed. By comparing and contrasting the narratives across the five IOCs in relation to the wider literature, four emergent narrative strategies justifying the business practices of IOCs are identified and discussed. They include: (1) direct engagement to renegotiate local content requirements with governments, (2) legal compliance framework, (3) the business case for local content strategies, and (4) corporate social responsibility (CSR) initiatives. The conclusion considers the policy implications of these findings for local content development in petroleum-producing developing countries. - Highlights: • Local content policies define the local context that shape IOCs’ business practices. • Provides a narrative analysis of the business practices of IOCs in developing countries. • IOCs use four narrative strategies to relate their business practices to local content policies. • The business practices of IOCs can determine the effectiveness of local content policies

  12. Increased Retinal Thinning after Combination of Internal Limiting Membrane Peeling and Silicone Oil Endotamponade in Proliferative Diabetic Retinopathy.

    Science.gov (United States)

    Kaneko, Hiroki; Matsuura, Toshiyuki; Takayama, Kei; Ito, Yasuki; Iwase, Takeshi; Ueno, Shinji; Nonobe, Norie; Yasuda, Shunsuke; Kataoka, Keiko; Terasaki, Hiroko

    2017-01-01

    The aim of this study was to examine the change in retinal thickness after vitrectomy with internal limiting membrane (ILM) peeling and/or silicone oil (SO) endotamponade in proliferative diabetic retinopathy (PDR). The actual amount and ratio of changes in the retinal thickness were calculated. Compared to control eyes in the ILM peeling (-)/SO (-) group, the central, superior inner, and temporal inner retina in the ILM peeling (+)/SO (-) group, the central and superior inner retina in the ILM peeling (-)/SO (+) group, and the central, inferior inner, temporal inner, and nasal inner retina in the ILM peeling (+)/SO (+) group showed a significant reduction of the retinal thickness. The central, superior inner, and temporal inner retina in the ILM peeling (+)/SO (-) group, the central and superior inner retina in the ILM peeling (-)/SO (+) group, and the central, superior inner, inferior inner, and temporal inner retina in the ILM peeling (+)/SO (+) group showed a significantly increased reduction rate of the retinal thickness compared to the control group. Macular retinal thinning in PDR was observed after ILM peeling and SO endotamponade, and it was increased by the combination of these 2 factors. © 2017 S. Karger AG, Basel.

  13. The term structure of oil futures prices

    International Nuclear Information System (INIS)

    Gabillon, J.

    1991-01-01

    In recent years, there has been a massive development of derivative financial products in oil markets. The main interest came from large energy end-users who found in them a welcome opportunity to lock in fixed or maximum prices for their supplies over a period of time. Oil companies and oil traders were able to provide tailor-made swaps or options for the specific needs of the end-users. In this paper, we present a two-variable model of the term structures of futures prices and volatilities assuming that the spot and long-term prices of oil are stochastic, and are the main determinants of the convenience yield function. Although the resulting convenience yield is stochastic, the model admits an analytic formulation under some restrictions. (author)

  14. Olive oil and health: summary of the II international conference on olive oil and health consensus report, Jaén and Córdoba (Spain) 2008

    DEFF Research Database (Denmark)

    López-Miranda, J; Pérez-Jiménez, F; Ros, E

    2010-01-01

    Olive oil (OO) is the most representative food of the traditional Mediterranean Diet (MedDiet). Increasing evidence suggests that monounsaturated fatty acids (MUFA) as a nutrient, OO as a food, and the MedDiet as a food pattern are associated with a decreased risk of cardiovascular disease, obesity...

  15. Knowledge and Perceptions of Highly Pathogenic Avian Influenza (HPAI) among Poultry Traders in Live Bird Markets in Bali and Lombok, Indonesia.

    Science.gov (United States)

    Kurscheid, Johanna; Millar, Joanne; Abdurrahman, Muktasam; Ambarawati, I Gusti Agung Ayu; Suadnya, Wayan; Yusuf, Ria Puspa; Fenwick, Stanley; Toribio, Jenny-Ann L M L

    2015-01-01

    Highly Pathogenic Avian Influenza (HPAI) has been prevalent in Indonesia since 2003 causing major losses to poultry production and human deaths. Live bird markets are considered high risk areas due to the density of large numbers of mixed poultry species of unknown disease status. Understanding trader knowledge and perceptions of HPAI and biosecurity is critical to reducing transmission risk and controlling the disease. An interview-administered survey was conducted at 17 live bird markets on the islands of Bali and Lombok in 2008 and 2009. A total of 413 live poultry traders were interviewed. Respondents were mostly male (89%) with a mean age of 45 years (range: 19-81). The main source of AI information was TV (78%), although personal communication was also identified to be an important source, particularly among female traders (60%) and respondents from Bali (43%). More than half (58%) of live poultry traders interviewed knew that infected birds can transmit HPAI viruses but were generally unaware that viruses can be introduced to markets by fomites. Cleaning cages and disposing of sick and dead birds were recognized as the most important steps to prevent the spread of disease by respondents. Two thirds (n = 277) of respondents were unwilling to report sudden or suspicious bird deaths to authorities. Bali vendors perceive biosecurity to be of higher importance than Lombok vendors and are more willing to improve biosecurity within markets than traders in Lombok. Collectors and traders selling large numbers (>214) of poultry, or selling both chickens and ducks, have better knowledge of HPAI transmission and prevention than vendors or traders selling smaller quantities or only one species of poultry. Education was strongly associated with better knowledge but did not influence positive reporting behavior. Our study reveals that most live poultry traders have limited knowledge of HPAI transmission and prevention and are generally reluctant to report bird deaths

  16. Multiple internal standard normalization for improving HS-SPME-GC-MS quantitation in virgin olive oil volatile organic compounds (VOO-VOCs) profile.

    Science.gov (United States)

    Fortini, Martina; Migliorini, Marzia; Cherubini, Chiara; Cecchi, Lorenzo; Calamai, Luca

    2017-04-01

    The commercial value of virgin olive oils (VOOs) strongly depends on their classification, also based on the aroma of the oils, usually evaluated by a panel test. Nowadays, a reliable analytical method is still needed to evaluate the volatile organic compounds (VOCs) and support the standard panel test method. To date, the use of HS-SPME sampling coupled to GC-MS is generally accepted for the analysis of VOCs in VOOs. However, VOO is a challenging matrix due to the simultaneous presence of: i) compounds at ppm and ppb concentrations; ii) molecules belonging to different chemical classes and iii) analytes with a wide range of molecular mass. Therefore, HS-SPME-GC-MS quantitation based upon the use of external standard method or of only a single internal standard (ISTD) for data normalization in an internal standard method, may be troublesome. In this work a multiple internal standard normalization is proposed to overcome these problems and improving quantitation of VOO-VOCs. As many as 11 ISTDs were used for quantitation of 71 VOCs. For each of them the most suitable ISTD was selected and a good linearity in a wide range of calibration was obtained. Except for E-2-hexenal, without ISTD or with an unsuitable ISTD, the linear range of calibration was narrower with respect to that obtained by a suitable ISTD, confirming the usefulness of multiple internal standard normalization for the correct quantitation of VOCs profile in VOOs. The method was validated for 71 VOCs, and then applied to a series of lampante virgin olive oils and extra virgin olive oils. In light of our results, we propose the application of this analytical approach for routine quantitative analyses and to support sensorial analysis for the evaluation of positive and negative VOOs attributes. Copyright © 2017 Elsevier B.V. All rights reserved.

  17. The Effect on the Indicators of Unemployment of International Crude Oil Price Volatility: Empirical Findings on the Case of Turkey

    Directory of Open Access Journals (Sweden)

    Birol Erkan

    2011-12-01

    Full Text Available Oil prices may have an impact on economic activity through various transmission channels. A number of recent studies have emphasized the role of oil prices and macro-economic variables. The aim of this paper is to study the short-term/longterm relationship between oil prices and unemployment in Turkey. The most common cause of increasing oil prices over the last thirty years has been a decrease in supply. Prices increased during the early 1970s as OPEC reduced supply. Again prices increased in the late 1970s and early 1980s as the collapse of the government of the Shah of Iran and subsequent war between Iran and Iraq threatened supply. We applied Granger causal modals to determine if oil prices “Granger Caused” unemployment for data between 2005:01 and 2009:12 in Turkey. However, we performed Vector Autoregressive Model (VAR to determine the relationship between to variables in question, to estimate these relationships and to determine the delay values. As a result, long-term relationship between oil prices and unemployment rate are available in Turkey, and changes in the unemployment rate do not affect oil prices, oil prices changes affect the unemployment rate (this effect is the opposite direction

  18. Near-term oil prices

    International Nuclear Information System (INIS)

    Lynch, M.C.

    2001-01-01

    This PowerPoint presentation included 36 slides that described the state of oil prices and how to predict them. Prices are random, stochastic, chaotic, mean-reverting and driven by speculators, oil companies and OPEC. The many factors that enable price forecasting are economic growth, weather, industry behaviour, speculators, OPEC policy choices, Mexico/Russia production policy, non-OPEC supply and the interpretation of the above factors by OPEC, speculators, traders and the petroleum industry. Several graphs were included depicting such things as WTI price forecasts, differentials, oil market change in 2001, inventory levels, and WTI backwardation. The presentation provided some explanations for price uncertainties, price surges and collapses. U.S. GDP growth and the volatility of Iraq's production was also depicted. The author predicted that economic growth will occur and that oil demand will go up. Oil prices will fluctuate as the Middle East will be politically unstable and weather will be a major factor that will influence oil prices. The prices are likely to be more volatile than in the 1986 to 1995 period. 2 tabs., 22 figs

  19. Hedging strategy for crude oil trading and the factors influencing hedging effectiveness

    International Nuclear Information System (INIS)

    Yun, Won-Cheol; Jae Kim, Hyun

    2010-01-01

    This study analyzes the hedging effectiveness of different hedge type and period by Korean oil traders. Both crude oil price and exchange rate risks are considered. Theoretical models are formulated to estimate the hedge ratios by separate and complex hedge types. The hedging period covers 1-12 months. This study also performs some statistical works to investigate the relationship between the hedging effectiveness and the crude oil price sensitivity to exchange rate. In addition, the relationship between the hedging effectiveness and the volatilities of crude oil price and exchange rate is analyzed. (author)

  20. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-10-01

    The International Petroleum Statistics Report is a monthly publication that provides current international oil data. This report presents data on international oil production, demand, imports, exports and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Section 2 presents an oil supply/demand balance for the world, in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.

  1. Comparison of renewable oil, recycled oil, and commercial rejuvenating agent derived from crude oil in paving asphalt modification[Includes the CSCE forum on professional practice and career development : 1. international engineering mechanics and materials specialty conference : 1. international/3. coastal, estuarine and offshore engineering specialty conference : 2. international/8. construction specialty conference

    Energy Technology Data Exchange (ETDEWEB)

    Gordon, C.; Ho, S.; Zanzotto, L. [Calgary Univ., AB (Canada). Schulich School of Engineering

    2009-07-01

    The asphalt industry relies heavily on crude oil. In response to increasing oil prices, there have been efforts to save money on asphalt by taking harder asphalts, such as recycled asphalt pavement (RAP), and softening them with rejuvenating agents. For asphalt that is to be used in cold climates, softer asphalts are preferred because they will perform better under extreme cold conditions without cracking. This study compared the performance, economic benefits, and environmental benefits of renewable materials, recycled oil and a commercially used rejuvenating agent derived from crude oil. Different oily materials including margarine, Cyclogen L (a crude oil-derived material), a vegetable wax, and recycled cooking oil were used to modify paving asphalt. Their effectiveness at improving the superpave low-temperature performance grade was compared. The samples were all tested using the 2008 AASHTO M320 procedures. The high temperature grades were determined using the dynamic shear rheometer test, and the low-temperature grades were determined using the bending beam rheometer test. The 3 varieties of margarine that were tested were able to improve the low-temperature grade, but they caused a greater depreciation of the high-temperature performance grade than the other materials, and were much more expensive. The best candidate for an effective, economic asphalt softening agent was found to be the recycled cooking oil. It out-performed the Cyclogen L oil in terms of improving the low- temperature performance grade, and was less expensive. 12 refs., 4 tabs., 6 figs.

  2. A Mathematical Model of Profit-Loss Sharing Scheme of Small Investment for Traditional Market Traders using The Semi-Fuzzy Logic Approach

    Directory of Open Access Journals (Sweden)

    Novriana Sumarti

    2017-02-01

    Full Text Available A mathematical model of micro-finance investment using profit-loss sharing scheme are made and implemented to simulated data. Here profits from the venture will be shared in a portion between the investor and the entity running the business. The scheme can be classified as Musharaka type of investment in Sharia economy. The proposed model is theoretically implemented with data from small-scale traders at a local traditional market who have small turnover. They are common target of usurers who lend money with high interest rate and penalties. If the traders are in unfortunate conditions, they are potentially in poorer condition than before committing themselves to the usurer. In the conventional practices of the profit sharing scheme, the investor will get a fixed portion of the trader’s income, which is applied for all kind of small-scale traders. If the traders are diligent and hard worker and have very high turnover, then the investor will gain much more profit whether the contributed capital is small or large. In this paper, the scheme is implemented using Semi-Fuzzy Logic Approach so that the profit-loss sharing scheme can achieve its intended goal, which is to make a profitable investment not only for the investor but also for traders. The approach is not fully using Fuzzy Logic because some variables are still in crisp numbers and the optimization problem is regular in the form of crisp numbers. Based on the existing data, the results show that the optimal profit share is depended on the income of the traders. The higher the income coming from the venture, the lesser the profit share for the investor which is reasonable with the fixed initial contributed capital.

  3. The fifth international conference on microbial enhanced oil recovery and related biotechnology for solving environmental problems: 1995 Conference proceedings

    Energy Technology Data Exchange (ETDEWEB)

    Bryant, R. [ed.

    1995-12-31

    This volume contains 41 papers covering the following topics: field trials of microbial enhanced recovery of oil; control and treatment of sour crudes and natural gas with microorganisms; bioremediation of hydrocarbon contamination in soils; microbial plugging processes; microbial waste water treatment; the use of microorganisms as biological indicators of oils; and characterization and behavior of microbial systems. Selected papers are indexed separately for inclusion in the Energy Science and Technology Database.

  4. OIL AS POLITICAL WEAPON

    Directory of Open Access Journals (Sweden)

    Mariana, BUICAN

    2013-12-01

    Full Text Available Oil (called by some black gold has not always been as coveted and used, but only in the last hundred years has established itself as a highly sought after as an indispensable proper functioning of modern economic activity that an important factor in international politics. International oil regime has changed in the last decades. In 1960, oil regime was a private oligopol which had links with governments main consuming countries. By then the price of a barrel of oil was two U.S. dollars and seven major transnational oil companies decided the amount of oil that will be produced. Meanwhile the world region with the largest oil exports were more strongly expressed nationalism and decolonization. Result, it was so in the late 60s in the region occur independent states. They have created an organization aim of this resource to their advantage - OPEC (Organization of Petroleum Exporting Countries. Thus since 1973 there have been changes in the international regime governing oil field, namely producing countries were fixed production rate and price. After this time the oil weapon has become increasingly important in the management of international relations. Oil influenced the great powers to Middle East conflicts that occurred in the last century, but their attitude about the emergence of new sources of oil outside OPEC. In the late 90's, Russia has become a major supplier of oil to the West.

  5. Cenosphere formation from heavy fuel oil: a numerical analysis accounting for the balance between porous shells and internal pressure

    KAUST Repository

    Vanteru, Mahendra Reddy

    2016-01-18

    Heavy fuel oil (HFO) as a fuel in industrial and power generation plants ensures the availability of energy at economy. Coke and cenosphere emissions from HFO combustion need to be controlled by particulate control equipment such as electrostatic precipitators, and collection effectiveness is impacted by the properties of these particulates. The cenosphere formation is a function of HFO composition, which varies depending on the source of the HFO. Numerical modelling of the cenosphere formation mechanism presented in this paper is an economical method of characterising cenosphere formation potential for HFO in comparison to experimental analysis of individual HFO samples, leading to better control and collection. In the present work, a novel numerical model is developed for understanding the global cenosphere formation mechanism. The critical diameter of the cenosphere is modelled based on the balance between two pressures developed in an HFO droplet. First is the pressure (Prpf) developed at the interface of the liquid surface and the inner surface of the accumulated coke due to the flow restriction of volatile components from the interior of the droplet. Second is the pressure due to the outer shell strength (PrC) gained from van der Walls energy of the coke layers and surface energy. In this present study it is considered that when PrC ≥ Prpf the outer shell starts to harden. The internal motion in the shell layer ceases and the outer diameter (DSOut) of the shell is then fixed. The entire process of cenosphere formation in this study is analysed in three phases: regression, shell formation and hardening, and post shell hardening. Variations in pressures during shell formation are analysed. Shell (cenosphere) dimensions are evaluated at the completion of droplet evaporation. The rate of fuel evaporation, rate of coke formation and coke accumulation are analysed. The model predicts shell outer diameters of 650, 860 and 1040 µm, and inner diameters are 360, 410

  6. Cenosphere formation from heavy fuel oil: a numerical analysis accounting for the balance between porous shells and internal pressure

    KAUST Repository

    Vanteru, Mahendra Reddy; Rahman, Mustafa M.; Gandi, Appala; Elbaz, Ayman M.; Schrecengost, Robert A.; Roberts, William L.

    2016-01-01

    Heavy fuel oil (HFO) as a fuel in industrial and power generation plants ensures the availability of energy at economy. Coke and cenosphere emissions from HFO combustion need to be controlled by particulate control equipment such as electrostatic precipitators, and collection effectiveness is impacted by the properties of these particulates. The cenosphere formation is a function of HFO composition, which varies depending on the source of the HFO. Numerical modelling of the cenosphere formation mechanism presented in this paper is an economical method of characterising cenosphere formation potential for HFO in comparison to experimental analysis of individual HFO samples, leading to better control and collection. In the present work, a novel numerical model is developed for understanding the global cenosphere formation mechanism. The critical diameter of the cenosphere is modelled based on the balance between two pressures developed in an HFO droplet. First is the pressure (Prpf) developed at the interface of the liquid surface and the inner surface of the accumulated coke due to the flow restriction of volatile components from the interior of the droplet. Second is the pressure due to the outer shell strength (PrC) gained from van der Walls energy of the coke layers and surface energy. In this present study it is considered that when PrC ≥ Prpf the outer shell starts to harden. The internal motion in the shell layer ceases and the outer diameter (DSOut) of the shell is then fixed. The entire process of cenosphere formation in this study is analysed in three phases: regression, shell formation and hardening, and post shell hardening. Variations in pressures during shell formation are analysed. Shell (cenosphere) dimensions are evaluated at the completion of droplet evaporation. The rate of fuel evaporation, rate of coke formation and coke accumulation are analysed. The model predicts shell outer diameters of 650, 860 and 1040 µm, and inner diameters are 360, 410

  7. Cenosphere formation from heavy fuel oil: a numerical analysis accounting for the balance between porous shells and internal pressure

    Science.gov (United States)

    Reddy, Vanteru M.; Rahman, Mustafa M.; Gandi, Appala N.; Elbaz, Ayman M.; Schrecengost, Robert A.; Roberts, William L.

    2016-01-01

    Heavy fuel oil (HFO) as a fuel in industrial and power generation plants ensures the availability of energy at economy. Coke and cenosphere emissions from HFO combustion need to be controlled by particulate control equipment such as electrostatic precipitators, and collection effectiveness is impacted by the properties of these particulates. The cenosphere formation is a function of HFO composition, which varies depending on the source of the HFO. Numerical modelling of the cenosphere formation mechanism presented in this paper is an economical method of characterising cenosphere formation potential for HFO in comparison to experimental analysis of individual HFO samples, leading to better control and collection. In the present work, a novel numerical model is developed for understanding the global cenosphere formation mechanism. The critical diameter of the cenosphere is modelled based on the balance between two pressures developed in an HFO droplet. First is the pressure (Prpf) developed at the interface of the liquid surface and the inner surface of the accumulated coke due to the flow restriction of volatile components from the interior of the droplet. Second is the pressure due to the outer shell strength (PrC) gained from van der Walls energy of the coke layers and surface energy. In this present study it is considered that when PrC ≥ Prpf the outer shell starts to harden. The internal motion in the shell layer ceases and the outer diameter (DSOut) of the shell is then fixed. The entire process of cenosphere formation in this study is analysed in three phases: regression, shell formation and hardening, and post shell hardening. Variations in pressures during shell formation are analysed. Shell (cenosphere) dimensions are evaluated at the completion of droplet evaporation. The rate of fuel evaporation, rate of coke formation and coke accumulation are analysed. The model predicts shell outer diameters of 650, 860 and 1040 µm, and inner diameters are 360, 410

  8. The states/BC oil spill task force - an international model for formulating and influencing public policy

    International Nuclear Information System (INIS)

    Neel, J.; Bones, J.; Dimmick, E.; Kent, L.J.T.; Dunstan, R.; Sutherland, B.

    1993-01-01

    The States/British Columbia Oil Spill Task Force was established in 1989 to enhance spill coordination among the West Coast states and British Columbia, and to address a number of issues that became apparent during the Nestucca barge and Exxon Valdez oil spills. Task Force members are the directors of the oil spill prevention and response agencies in Alaska, British Columbia, California, Oregon, and Washington. The Task Force has become a national model for facilitating cooperation and building consensus between coastal states and provinces and their federal governments. In October of 1990, the task force issued a report containing a comprehensive set of recommendations addressing oil spill prevention, preparedness, and response. The group had achieved remarkable consensus, and many of the report's recommendations have been included in recent legislation enacted by the member states. The success of the task force's approach to regional coordination has also reduced the need for a proposed Pacific Oceans Resources Interstate Compact, which has been proposed to expand the states' role in areas of regulation that are otherwise federally preempted. The task force has become an effective mechanism for developing vigorous, productive relationships between government agencies, industry, and the public in both the United States and Canada. It has created important linkages between state provincial antifederal regulatory activities; for example, by providing input to Coast Guard and EPA rulemaking that implemented the Oil Pollution Act of 1990. The task force is continuing to advance its goals of promoting public policy on oil spill prevention; cooperative management of major spills by government and industry; protection of the states provincial rights and their natural and economic resources; and inter-governmental consistency in regulations adopted for oil spill prevention, contingency planning, and resource damage assessment

  9. On the design of invoicing practices in international trade

    NARCIS (Netherlands)

    J.M.A. Viaene (Jean-Marie); C.G. de Vries (Casper)

    1992-01-01

    textabstractWe advance an explanation for the choice of the invoice currency of international trade contracts on the basis of strategic bargaining considerations. The choice of the invoice currency originates in a situation in which each trader takes into account the other party's bargaining power.

  10. From Petrodollars to Petroeuros: Are the Dollar’s Days as an International Reserve Currency Drawing to an End?

    Science.gov (United States)

    2003-11-03

    price of oil less transparent, require continuous updating to minimize currency arbitrage , and could make the market less liquid as available capital...there are plenty of cheap ways for traders to hedge against currency risk if they are concerned about movements in the dollar. Conclusions

  11. Oil vulnerability index of oil-importing countries

    International Nuclear Information System (INIS)

    Gupta, Eshita

    2008-01-01

    This paper assesses the relative oil vulnerability of 26 net oil-importing countries for the year 2004 on the basis of various indicators - the ratio of value of oil imports to gross domestic product (GDP), oil consumption per unit of GDP, GDP per capita and oil share in total energy supply, ratio of domestic reserves to oil consumption, exposure to geopolitical oil market concentration risks as measured by net oil import dependence, diversification of supply sources, political risk in oil-supplying countries, and market liquidity. The approach using the principal component technique has been adopted to combine these individual indicators into a composite index of oil vulnerability. Such an index captures the relative sensitivity of various economies towards developments of the international oil market, with a higher index indicating higher vulnerability. The results show that there are considerable differences in the values of individual indicators of oil vulnerability and overall oil vulnerability index among the countries (both inter and intraregional). (author)

  12. Oil vulnerability index of oil-importing countries

    Energy Technology Data Exchange (ETDEWEB)

    Gupta, Eshita [The Energy and Resources Institute, Darbari Seth Block, Habitat Place, New Delhi 110 003 (India)

    2008-03-15

    This paper assesses the relative oil vulnerability of 26 net oil-importing countries for the year 2004 on the basis of various indicators - the ratio of value of oil imports to gross domestic product (GDP), oil consumption per unit of GDP, GDP per capita and oil share in total energy supply, ratio of domestic reserves to oil consumption, exposure to geopolitical oil market concentration risks as measured by net oil import dependence, diversification of supply sources, political risk in oil-supplying countries, and market liquidity. The approach using the principal component technique has been adopted to combine these individual indicators into a composite index of oil vulnerability. Such an index captures the relative sensitivity of various economies towards developments of the international oil market, with a higher index indicating higher vulnerability. The results show that there are considerable differences in the values of individual indicators of oil vulnerability and overall oil vulnerability index among the countries (both inter and intraregional). (author)

  13. Performance evaluation of small scale internal combustion engine with mixtures for diesel oil-palm oil; Avaliacao do desempenho do motor de combustao interna de pequeno porte com misturas oleo diesel - oleo de dende

    Energy Technology Data Exchange (ETDEWEB)

    Seye, Omar; Souza, Rubem Cesar Rodrigues [Universidade Federal do Amazonas (CDEAM/UFAM), Manaus, AM (Brazil). Centro de Desenvolvimento Energetico Amazonico], Emails: Seye62omar@yahoo.com, rcsouza@internext.com.br

    2006-07-01

    This work aims at the performance evaluation of the Cummins 4B -3.9, an internal combustion engine of maximum power 75 hp (56.6 kW) for small scale power generation, burning different mixtures of diesel fuel and palm oil. The palm oil in nature is mixed manually, what unfortunately will influence the engine performance as it hinders the combustion. The test protocol will include the biodiesel, later on. The emissions were assessed for several proportions of mixture diesel/palm oil covering the strip from 0 to 20% and the results were compared to the engine performance when it operates with diesel only. The motor is coupled to a dynamometer, whose operation consists of the acceleration and deceleration of water in order to simulate the effect of a load being applied to the motor. The system is controlled by the software LT commander that allows the start up and the shutdown of the engine from the screen of the computer that also monitors the following parameters as speed of rotation of the motor (RPM), applied torque (N-m), potency (hp), temperature of the lubricating oil, temperature of the water in the entrance and exit of the motor, and temperature of the environment (deg C), pressures of the lubricating oil and of opening of the injector (mBar). While a flow meter coupled to the piping measures the consumption of fuel, the gas analyzer ECHO Line 6000 it monitors the concentration and temperature of carbon monoxide (CO) (ppm), nitric oxide (NO) (ppm), nitrogen dioxide (NO{sub 2}), (ppm), sulfur dioxide (SO{sub 2}) (ppm) and Oxygen (O{sub 2}) (%) in the exhaust gases. This equipment also determines the combustion parameters as excess of air and the efficiency. The technical results present the efficiency variation, the pressure of the fuel, monoxide carbon, NOx emissions, Oxygen content in the exhaust gases, for the different mixture proportions. Furthermore, the results of economic viability show generation cost values of US$ 135,66/MWh for the motor operating

  14. Olive oil and health: summary of the II international conference on olive oil and health consensus report, Jaén and Córdoba (Spain) 2008

    DEFF Research Database (Denmark)

    López-Miranda, J; Pérez-Jiménez, F; Ros, E

    2010-01-01

    Olive oil (OO) is the most representative food of the traditional Mediterranean Diet (MedDiet). Increasing evidence suggests that monounsaturated fatty acids (MUFA) as a nutrient, OO as a food, and the MedDiet as a food pattern are associated with a decreased risk of cardiovascular disease, obesity......, and disclose antithrombotic properties. Observational studies from Mediterranean cohorts have suggested that dietary MUFA may be protective against age-related cognitive decline and Alzheimer's disease. Recent studies consistently support the concept that the OO-rich MedDiet is compatible with healthier aging......, metabolic syndrome, type 2 diabetes and hypertension. A MedDiet rich in OO and OO per se has been shown to improve cardiovascular risk factors, such as lipid profiles, blood pressure, postprandial hyperlipidemia, endothelial dysfunction, oxidative stress, and antithrombotic profiles. Some...

  15. Study the Properties of Sodium Silicate Composite as a Barrier Separating Between the Internal Oil Distillation Towers and Chemical Fumes of Crude Oil

    Directory of Open Access Journals (Sweden)

    سلام حسين علي

    2016-07-01

    Full Text Available The study of surface hardness, wear resistance, adhesion strength, electrochemical corrosion resistance and thermal conductivity of coatings composed from sodium silicate was prepared using graphite micro-size particles and carbon nano particles as fillers respectively of concentration of (1-5%, for the purpose of covering and protecting the oil distillation towers. The results showed that the sodium silicate coating reinforced with carbon nano-powder has higher resistance to stitches, mechanical wear, adhesive and thermal conductivity than graphite/sodium silicate composite especially when the ratio 5% and 1%, the electrochemical corrosion test confirmed that the coating process of stainless steel 304 lead to increasing the corrosion resistance, where the reinforcing of sodium silicate lead to a significant improvement in the corrosion resistance, the corrosion resistance behavior change depending on the type of reinforcement material, this is consistent with the field test results.

  16. 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)

  17. Knowledge, attitudes and practices of traceability among livestock traders in south-western Nigeria: implications for sustainable livestock industry.

    Science.gov (United States)

    Adesokan, Hezekiah K; Ocheja, Samuel E

    2014-01-01

    Livestock diseases and other animal health events are a threat to achieving sustainable livestock industry. The knowledge of trace-back and the practice of providing feedback on diseases encountered in slaughtered animals from the abattoir to the farm can help limit the spread as well as manage potential future incidents of such diseases. We assessed the knowledge, attitudes and practices of 200 willing livestock traders on traceability in Bodija Municipal Abattoir, south-western Nigeria. The results reveal that the majority of these traders had poor knowledge (79.5 %) and practices (74.0 %) of traceability, though 89.5 % demonstrated good attitudes. While 22.9 % knew that traceability could be an effective means to control diseases, only a lower proportion (9.0 %) knew the health status of the animals being purchased. Though 29.0 % reported the diseases encountered in their animals during slaughter to the farm, only 9.5 % followed up to ensure the farmers take steps at preventing further occurrence of the reported diseases. While age (p = 0.000; 0.014) and education (p = 0.000; 0.000) were both significant for good knowledge and attitudes, frequency of condemned cases (p = 0.000) and length of years in the trade (p = 0.004) were, respectively, significant for good knowledge and attitudes with none associated with practice. These poor levels of knowledge and practices of traceability are a threat to sustainable livestock industry, food security and human health; hence, there is an urgent need to institute national feedback mechanism on slaughtered animals in order to strengthen interventions against diseases at farm levels.

  18. Oil and influence: the oil weapon examined

    Energy Technology Data Exchange (ETDEWEB)

    Maull, H

    1975-01-01

    The term ''oil weapon'' as used here signifies any manipulation of the price and/or supply of oil by exporting nations with the intention of changing the political behavior of the consumer nations. The political potential of the oil price is fairly restricted so, in effect, the supply interruptions are of prime concern. Manipulating price does, in principle, offer the possibilities of both conferring rewards and inflicting sanctions. Oil could be sold on preferential prices and terms. A precondition for using the oil weapon successfully would be the ability to cause real and serious damage to the consumer countries. Four damaging potentials for using the oil weapon could include its application by: (1) one producer against one consumer; (2) one producer against all consumers; (3) a group of producers against one consumer; and (4) by a group of producers against all consumers. It is concluded that the oil weapon will continue to be a force in the international system. (MCW)

  19. Review and Outlook of China's Oil Market

    Institute of Scientific and Technical Information of China (English)

    Gong Jinshuang

    2006-01-01

    @@ Major features of China's oil market in 2005 China's oil market is changing under the influence of domestic economy and the international oil market, witnessing different characteristics from time to time.

  20. Co-firing of oil sludge with coal-water slurry in an industrial internal circulating fluidized bed boiler.

    Science.gov (United States)

    Liu, Jianguo; Jiang, Xiumin; Zhou, Lingsheng; Wang, Hui; Han, Xiangxin

    2009-08-15

    Incineration has been proven to be an alternative for disposal of sludge with its unique characteristics to minimize the volume and recover energy. In this paper, a new fluidized bed (FB) incineration system for treating oil sludge is presented. Co-firing of oil sludge with coal-water slurry (CWS) was investigated in the new incineration system to study combustion characteristics, gaseous pollutant emissions and ash management. The study results show the co-firing of oil sludge with CWS in FB has good operating characteristic. CWS as an auxiliary fuel can flexibly control the dense bed temperatures by adjusting its feeding rate. All emissions met the local environmental requirements. The CO emission was less than 1 ppm or essentially zero; the emissions of SO(2) and NO(x) were 120-220 and 120-160 mg/Nm(3), respectively. The heavy metal analyses of the bottom ash and the fly ash by ICP/AES show that the combustion ashes could be recycled as soil for farming.

  1. Characterization of diesel oil mixtures with soy oil used for activation of engines of internal combustion; Caracterizacao de misturas de oleo diesel com oleo de soja reutilizado para acionamento de motores de combustao interna

    Energy Technology Data Exchange (ETDEWEB)

    Siqueira, Wagner da Cunha; Fernandes, Haroldo Carlos; Teixiera, Mauri Martins; Abrahao, Selma Alves; Leite, Daniel Mariano [Universidade de Vicosa, (DEA/UFV), MG (Brazil). Dept. de Engenharia Agricola], Emails: wagner.siqueira@ufv.br, haroldo@ufv.br, mauri@ufv.br, selma.abrahao@ufv.br, daniel.mariano@ufv.br

    2011-07-01

    Alternative energy sources have been studied in several countries, with emphasis on ways of obtaining and using more efficient. The objective of this work to evaluate and characterize mixtures of diesel oil (DO) with soybean oil reused (OSR), the ratios of 0, 25, 50, 75, and 100% of OSR in relation to specific gravity index viscosity and calorific value. To determine the specific gravity was used beaker, thermometer and a balance for each mixture was adjusted a regression model to estimate the bulk density as a function of temperature (25 to 90 deg C). We analyzed the viscosity of the mixtures using an orifice-type viscometer Saybolt, through regression analysis models were fit to estimate the viscosity as a function of temperature, heating the OSR 100% from 40 to 90 deg C decreased by up 90.4% to its viscosity. The tests were performed calorimetric using a bomb calorimeter determines the calorific value , the variation in calorific value followed a descending order with respect to OD with the increasing content of OSR. The OSR is efficient for use in internal combustion engines in small proportions. (author)

  2. International bioenergy trade in the Netherlands

    OpenAIRE

    Junginger, H.M.; de Wit, M.P.; Sikkema, R.; Faaij, A.P.C.

    2008-01-01

    The international biomass trade in the Netherlands has been growing strongly over the last few years, but information on the corresponding volumes, origins and prices is barely available. The objectives of this paper are to quantify imported and exported biomass volumes and origins, and identify drivers and barriers behind the trade flows. Data collection was based on existing statistics and information obtained from biomass traders and end-users. Net import of biomass for energy purposes has...

  3. 棕榈油供给冲击与国内植物油价格波动的动态关系分析%Dynamic relationship analysis between palm oil supply shocks and domestic vegetable oil prices volatility

    Institute of Scientific and Technical Information of China (English)

    刘锐金; 王成丽

    2017-01-01

    [Objective]In this paper, the interaction between palm oil supply and prices of major domestic vegetable oils was analyzed, and supply reaction of palm oil under positive and negative shocks of prices was studied, as as to provide theoretical references for palm oil import management. [Method]The interaction between supply and price was assessed un-der the framework of co-integration-GARCH and error correction-GARCH models using monthly palm oil imports , spot prices of palm oil, soybean oil and rapeseed oil, and spot price of Malaysian palm oil. Linear and nonlinear Granger test was conducted for robustness check. [Result]Chinese palm oil processing manufacturers and traders preferred to rely on variance information accumulated in the past long period (ARCH effect), rather than a prediction variance (GARCH ef-fect). Compared to rapeseed oil, soybean oil had much stronger adjusting force on palm oil. The shock of palm oil supply weakly affected the prices. The signal of price changes with two lags had asymmetric impact on supply of palm oil. There existed no Granger causal relation between supply and price of palm oil. [Suggestion]Palm oil import management, marketing building and inventory monitor should be enhance, and researches on international pricing mechanism of palm oil need to be deepened.%[目的]分析棕榈油供给量与国内主要植物油价格的互动关系,以及对于来自价格正、负向冲击下棕榈油的供给反应,为棕榈油进口管理提供理论依据.[方法]利用我国棕榈油月度进口量、棕榈油、豆油、菜籽油现货价格及马来西亚毛棕榈油现货价格数据,在协整-GARCH、误差修正-GARCH框架下进行估计分析,研究供给量与价格间的互动关系,并用线性和非线性Granger因果检验进行稳健性检验.[结果]我国棕榈油的加工厂商和贸易商重视过去较长一段时间积累的方差信息(ARCH效应),而不是上一期的预测方差(GARCH效应);相比于菜籽油,

  4. Double hull oil tankers - how effective are they?

    International Nuclear Information System (INIS)

    Keith, V.F.

    1993-01-01

    The groundings of the Exxon Valdez on Bligh Reef in Prince William Sound, spilling more than 10 million gallons of Alaska North Slope crude, and the American Trader off Huntington Beach, spilling almost 400,000 gallons of Alaska North Slope crude, suggest that the construction of oil tankers be re-examined with respect to a design which could reduce both the number and magnitude of oil spills. This paper discusses state-of-the-art tanker technology with respect to spill prevention, effectiveness, and cost. The design features include double hulls, centralized bunker tankers, vacuum-retaining valves, cargo control systems, auxiliary thrusters, electronic charting, and the retransmission of the ship's position. Double hulls provide the highest probability of surviving damage, either from a collision or grounding, with no loss of cargo. Use of double hulls can reduce oil spill incidence by 90 percent in grounding situations and by 75 percent in collisions. The oil spill from the AmericanTrader could have been completely avoided by double hull construction. The arrangement provides spaces below the cargo tanks and on the vessel's sides solely for the carriage of ballast water when the tanker is in ballast condition. These tanks are empty when the tanker is loaded and then also act as the first line of defense in the event of structural damage to the cargo tanks. Tanker design is integrated with port safety measures, including vessel monitoring systems, in this total spill prevention analysis. All aspects of the tanker transportation system are considered

  5. Calculation of Oil Film Thickness from Damping Coefficients for a Piston Ring in an Internal Combustion Engine

    DEFF Research Database (Denmark)

    Christiansen, Jens; Klit, Peder; Vølund, Anders

    2007-01-01

    engine. The basic idea is to use the fluid film damping coefficients to estimate the film thickness variation for a piston ring under cyclic varying load. Reynolds Equation is solved for a piston ring and the oil film thickness is determined. In this analysis hydrodynamic lubrication is assumed......In 1966 Jorgen W. Lund published an approach to find the dynamic coefficients of a journal bearing by a first order perturbation of the Reynold's equation. These coefficients made it possible to perform a rotor-bearing stability analysis for a statically loaded bearing. In the mid seventies Jorgen...

  6. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-01-01

    This monthly publication provides international oil data for January 1998. The report presents data on oil production, demand, imports, and stocks in four sections. Section 1 containes time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. section 3 presents data on oil imports by OECD countries. Section 4 containes annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.

  7. The speculative activity of the investment funds in the NYMEX (New York Mercantile Exchange) oil future prices formation; A atividade especulativa dos fundos de investimento na formacao dos precos futuros de petroleo no NYMEX (New York Mercantile Exchange)

    Energy Technology Data Exchange (ETDEWEB)

    Amin, Mario Miguel [Universidade da Amazonia (UNAMA), Manaus, AM (Brazil); Luczynski, Estanislau [Universidade Federal do Para (UFPA), Belem, PA (Brazil). Inst. de Geociencias

    2008-07-01

    The increase in the NYMEX future's market oil prices can be explained not only by traditional economic fundamentals of demand and supply, but also by the significant speculative participation of the Investment Funds, as measured by the extraordinary increase in the non-commercial spread traders' open interest positions, as published by the Commodities Futures Trading Commission (CFTC). The open interest increased from 66,234 in May 23, 2000, to 974,159 on May 13, 2008. On that day, the NYMEX reached the historic quantity of 3,149,667 contracts, being the spread trading responsible for 31% of that total. In terms of market liquidity, that percentage represented US$ 119,8 millions applied in the oil futures market. Given the availability of information from the NYMEX and CFTC, the objective of the study was to identify the participation, position and level of influence of the Investment Funds in the determination of international oil prices during the 2000 to 2008 period. The results of the analysis of the international oil prices behavior, in the NYMEX, show that a large portion of the price volatility, during the period 2000 to 2008, and more specifically in 2006 through 2008, was due to the significant process of speculation by the Investment Funds. Needing to recover the losses caused by the subprimes crisis, by the drop in the Wall Street's stock value and, specially, by the intense dollar devaluation in recent years, the Investment Funds sought cover in the commodities market, particularly in the oil futures market. (author)

  8. Vývoj obchodní strategie pro finanční trh v platformě MetaTrader 4

    OpenAIRE

    Berger, Roman

    2015-01-01

    Bakalářská práce se zaměřuje na tvorbu automatické obchodní strategie pro Forex v programovacím jazyce MQL, který je speciálně určen pro obchodní platformu MetaTrader 4. Teoretická část obsahuje základní a pokročilé principy forexového obchodováni. Navržená strategie byla podrobena optimalizaci a backtestu. This thesis focuses on the development of an automated Forex trading strategy in the MQL programming language, which is specifically designed for the trading platform MetaTrader 4. The ...

  9. Diffusion of Acetic Acid Across Oil/Water Interface in Emulsification-Internal Gelation Process for Preparation of Alginate Gel Beads

    Institute of Scientific and Technical Information of China (English)

    LIU Xiu-dong; YU Wei-ting; LIN Jun-zhang; MA Xiao-jun; YUAN Quan

    2007-01-01

    Alginate has been widely used in cell microencapsulation and drug delivery systems in the form of gel beads or microcapsules. Although an alternative novel emulsification-internal gelation technology has been established and both the properties and the potential applications of the beads in drug delivery systems have been studied, the mechanism has not been well understood compared with the traditional droplet method( external gelation technology). On the basis of our previous knowledge that the novel technology is composed of complicatedly consecutive processes with multistep diffusion and re action, and the diffusion of acetic acid across oil/water interface being the prerequisite that determines the occurrence and rate for the reactions and the structures and properties of final produced gel beads, a special emphasis was placed on the diffusion process. With the aid of diffusion modeling and simple experimental design, the diffusion rate constant and diffusion coefficient of acetic acid across oil/water interface were determined to be in the orders of magnitude of 10-6 and 10-16, respectively. This knowledge will be of particular importance in understanding and interpreting the formation, structure of the gel beads and the relationship between the structure and properties and guiding the preparation and quality control of the gel beads.

  10. How well do financial experts perform? A review of empirical research on performance of analysts, day-traders, forecasters, fund managers, investors, and stockbrokers

    OpenAIRE

    Andersson, Patric

    2004-01-01

    In this manuscript, empirical research on performance of various types of financial experts is reviewed. Financial experts are used as the umbrella term for financial analysts, stockbrokers, money managers, investors, and day-traders etc. The goal of the review is to find out about the abilities of financial experts to produce accurate forecasts, to issue profitable stock recommendations, as well as to make successful investments and trades. On the whole, the reviewed studies show discouragin...

  11. Religion, Work Ethics, and Business Attitude: a Case Study on the Meaning of Business Behavior of Madurese Fruits Traders in Malang

    OpenAIRE

    Djakfar, Muhammad

    2007-01-01

    Islam is a source of motivation to build work ethics and direct the behavior of businessmen. Madurese people are recognized as one of the wandering. ethnics. They are usually good adherence of Islam and tough traders. However, they are often regarded as people who do not really care of ethical values. Based on such characteristics, this dissertation examines their business behavior according to the ethical norms in Malang. There are three aspects that will be explored in this dissertation: (1...

  12. The Impact of the Unofficial Cattle Business on the Household Welfare of Cattle Traders of the Border Towns of Cameroon and Nigeria

    OpenAIRE

    Saidou Baba Oumar; Salihu Zummo Hayatudeen

    2015-01-01

    This paper examines the impact of the unofficial cattle business on the household welfare of cattle traders of the border towns of Cameroon and Nigeria and relates that impact to the household access to basic needs or services of life such as income, employment, food, shelter, education, potable water, electricity, and health care that have been extensively used in the literature as indicators for the attainment of well-being and freedom from the yoke of poverty in the society. It uses primar...

  13. BEYOND THE BRAND, SOCIAL INTERACTION AS KEY DETERMINANT OF IMPRESSION MANAGEMENT FOR CUSTOMERS‟ SATISFACTION AND BETTER BUSINESS PROSPECT : A STUDY ON STREET TRADERS

    OpenAIRE

    HARASANKAR ADHIKARI

    2012-01-01

    ABSTRACT: The present study examines how the street traders were operating their trade with their own style of impression management. The social interaction and hospitality had been the key tool of their impression management by which they had become their own brand. In present day marketing system with tremendous competition they were in their own prospect while they were in total uncertain position. Although they had no profession education they had learnt from their self strategies of thei...

  14. The strategic interaction between the government and international oil companies in the UK: An example of a country with dwindling hydrocarbon reserves

    International Nuclear Information System (INIS)

    Willigers, Bart J.A.; Hausken, Kjell

    2013-01-01

    The 2011 UK tax rise on hydrocarbon exploitation activities obviously increases short term tax revenues however the longer term effects are less clear. The strategic interaction between the UK government, a producer and a shipper has been analyzed in a game theoretical model. A complex interaction between players is expected given (1) dwindling resources and large decommissioning liabilities and (2) the fact that much of the hydrocarbons produced in the North Sea are exported through an infrastructure with shared ownership. The 2011 UK tax adjustment will most likely result in value destruction for the government, producers and shippers. Our analysis suggests that governments are unlikely to ultimately benefit from reducing their decommission liabilities at the expense of International Oil Companies. In countries with unstable tax regimes, such as the UK, International Oil Companies will adopt their strategies in anticipation of future tax changes. Their adopted strategy is a function of decommissioning liabilities and remaining reserves as well as whether they are producers, shippers or producers and shippers. The ultimate payoff of a government is a function of the remaining reserves and total decommissioning liabilities, but also depends on the distribution of these value metrics between producers and shippers. - Highlights: ► The 2011 UK hydrocarbon tax increase is likely to cause overall value destruction. ► Governments are unlikely to benefit from reducing their decommission liabilities. ► Differences in payoff functions of producers and shippers control the game. ► The distribution of reserves and decommissioning cost is a key factor in the game

  15. International

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    This rubric reports on 10 short notes about international economical facts about nuclear power: Electricite de France (EdF) and its assistance and management contracts with Eastern Europe countries (Poland, Hungary, Bulgaria); Transnuclear Inc. company (a 100% Cogema daughter company) acquired the US Vectra Technologies company; the construction of the Khumo nuclear power plant in Northern Korea plays in favour of the reconciliation between Northern and Southern Korea; the delivery of two VVER 1000 Russian reactors to China; the enforcement of the cooperation agreement between Euratom and Argentina; Japan requested for the financing of a Russian fast breeder reactor; Russia has planned to sell a floating barge-type nuclear power plant to Indonesia; the control of the Swedish reactor vessels of Sydkraft AB company committed to Tractebel (Belgium); the renewal of the nuclear cooperation agreement between Swiss and USA; the call for bids from the Turkish TEAS electric power company for the building of the Akkuyu nuclear power plant answered by three candidates: Atomic Energy of Canada Limited (AECL), Westinghouse (US) and the French-German NPI company. (J.S.)

  16. 15th International Sunflower Conference Synthesis of new derivatives from vegetable sunflower oil methyl esters via epoxydation and oxirane opening

    Directory of Open Access Journals (Sweden)

    Pages Xavier

    2001-03-01

    Full Text Available Recently, epoxides have received increased attention because they are of interest both as end-products and as chemical intermediates; epoxidized oils, mainly High Oleic Sunflower Oil, and their ester derivatives have thus found important applications as plasticizers and additives for polyvinyl chloride (PVC. Epoxidized esters have been produced classically from High Oleic Sunflower Methyl Esters (HOSME using H2O2 and formic acid. The epoxidation reaches 90% on pilot scale (5kg. Epoxidized esters produced from HOSME have respectively hydroxyl values of 0, oxirane values of 5.2/4.5 and iodine values of 1.7/1.5. Cleavage trials of the oxirane group of the epoxidized esters with different reactants have been undertaken in order to produce on pilot scale new derivatives to be characterized and tested in different fields of application (lubrication, detergency and as chemical intermediates. Reaction of Epoxy-HOSME with an excess of oleic acid was conducted under atmospheric pressure without any catalyst and solvent. The oxirane opening leads to complete estolide formation: after neutralization, analytical controls (chemical values, GC and HPLC analysis indicate that the estolides are composed of a mixture of C36 (oleate of methyl hydroxystearate and C54 (di-oleate of methyl dihydroxystearate. Oxirane opening with alcohols (ethanol and octanol was preferentially performed by acid catalysis at 100°C under atmospheric pressure. Analytical controls show the formation of different etheralcohols and secondary products resulting from dehydration, transesterification and dimerization side-reactions. Cleavage reaction of Epoxy-HOSME with a primary amine (butylamine was conducted under pressure, at high temperature (180/200°C. Both transesterification and opening of the oxirane group occur under these conditions. Reaction products are composed of amides formed by transesterification and a mixture of fatty amines/imines obtained by ring opening as established

  17. The Cushing OK Crude Oil Futures Price Pass - Through to New York Harbor Reformulated RBOB Regular Gasoline Futures Price

    OpenAIRE

    Chu V. Nguyen

    2017-01-01

    This study utilizes an Autoregressive Distributed Lag model to investigate the nature of crude oil futures price pass-through since 2006. The empirical results reveal a very high but incomplete short-run pass-through rate from the crude oil futures price to the gasoline futures price of 0.849298 with a corresponding negative long-run pass-through rate of -0.2440894. These empirical findings suggest that traders in the U.S. oil and gasoline futures markets overreact to fluctuations in the crud...

  18. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-03-01

    This report presents data on international oil production, demand, imports, exports, and stocks. World oil production and OECD demand data are for the years 1970 through 1994; OECD stocks from 1973 through 1994; and OECD trade from 1984 through 1994.

  19. International bioenergy trade in the Netherlands

    International Nuclear Information System (INIS)

    Junginger, Martin; Wit, Marc de; Sikkema, Richard; Faaij, Andre

    2008-01-01

    The international biomass trade in the Netherlands has been growing strongly over the last few years, but information on the corresponding volumes, origins and prices is barely available. The objectives of this paper are to quantify imported and exported biomass volumes and origins, and identify drivers and barriers behind the trade flows. Data collection was based on existing statistics and information obtained from biomass traders and end-users. Net import of biomass for energy purposes has been increasing from 2.5 PJ in 2003 to above 20 PJ in 2005-2006, consisting mainly of vegetable oils, agricultural residues and wood and wood-derived fuels, used to almost 100% in Dutch coal- and gas-fired power plants. Biomass exports (mainly of waste wood and construction wood) were high in 2004 (an estimated 13.2 PJ) but have probably strongly declined by the end of 2006, while (re)-export of wood pellets has been increasing in recent years, estimated at 5-7 PJ in 2005-2006. The main driver for biomass imports were the Dutch MEP feed-in tariff for electricity from biomass, while difficulties to obtain permits to co-fire (contaminated) waste wood were a main driver for the export of biomass. Rapidly changing feed-in tariff levels and support systems were seen as one of the largest barriers for the development of a stable biomass trade. Other major issues include concerns regarding the sustainability of biomass production, competition with biomass applications for food and fodder and import restrictions. Major additional imports of liquid transportation fuels are expected until 2010, which could possibly increase the import of biomass to over 50 PJ. (author)

  20. 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

  1. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-11-01

    This document is a monthly publication which provides current data on international oil production,demand,imports and stocks. This report has four sections which contain time series data on world oil production and oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Also included is oil supply/demand balance information for the world, and data on oil imports and trade by OECD countries.

  2. International biodiesel markets. Developments in production and trade

    Energy Technology Data Exchange (ETDEWEB)

    Lamers, P. [Ecofys Germany, Berlin (Germany)

    2012-01-15

    The global biodiesel market has shown an exponential growth in production and trade across the past decade. Nowadays, more biodiesel than ever before is sourced from abroad and procurement areas - especially of large scale producers and traders - span the globe. While this trend is bound to continue, markets and trade developments are still strongly linked to support and trade policies. Furthermore, the biodiesel industry is strongly linked to other sectors (agriculture and mineral oil industry in particular) and faces significant market disturbances some of which have led to various inefficiencies in the past. Due to the pace of this market development, a methodological assessment and understanding of the numerous influencing factors was needed to reduce uncertainties and risks for those involved. A recently published analysis by Ecofys and the Copernicus Institute, Utrecht University, provided such an analysis. It evaluates how the interaction of domestic policies steered global trade streams towards different markets, in particular in connection to underlying trade policies and additional market forces, over the past decade. It provides robust data on international production and trade volumes which have already served as input to the recently published Special Report on Renewable Energy (SRREN) by the Intergovernmental Panel on Climate Change (IPCC). This market brochure was commissioned by UFOP to build upon the methodologies and findings of Lamers et al. and to provide a picture of the global biodiesel market in 2010/2011. It is structured in six sections: an overview of global production volumes (Section 2); developments of EU (Section 3) and other world (Section 4) markets and (trade) policies; global net trade volumes (Section 5); vegetable oil trade patterns and their link to biodiesel trade (Section 6); Conclusions and Outlook (Section 7)

  3. Palm Oil

    Science.gov (United States)

    Palm oil is obtained from the fruit of the oil palm tree. Palm oil is used for preventing vitamin A deficiency, cancer, ... blood pressure, high cholesterol, and cyanide poisoning. Palm oil is used for weight loss and increasing the ...

  4. Diesel oil

    Science.gov (United States)

    Oil ... Diesel oil ... Diesel oil poisoning can cause symptoms in many parts of the body. EYES, EARS, NOSE, AND THROAT Loss of ... most dangerous effects of hydrocarbon (such as diesel oil) poisoning are due to inhaling the fumes. NERVOUS ...

  5. Oil spills

    International Nuclear Information System (INIS)

    Katsouros, M.H.

    1992-01-01

    The world annually transports 1.7 billion tons of oil by sea, and oil spills, often highly concentrated discharges, are increasing from a variety of sources. The author discusses sources of oils spills: natural; marine transportation; offshore oil production; atmospheric sources; municipal industrial wastes and runoff. Other topics include: the fate of the spilled oil; the effects of the oil; the response to oil spills; and prevention of oil spills. 30 refs., 1 fig., 4 tabs

  6. Oil Spills

    Science.gov (United States)

    ... up. How Oil Harms Animals and Plants in Marine Environments In general, oil spills can affect animals and plants in two ways: from the oil ... up. How Oil Harms Animals and Plants in Marine Environments In general, oil spills can affect animals and plants in two ways: from the oil ...

  7. How does market concern derived from the Internet affect oil prices?

    International Nuclear Information System (INIS)

    Guo, Jian-Feng; Ji, Qiang

    2013-01-01

    Highlights: • The impact of market concern derived from the Web on oil volatility is analysed. • It has an equilibrium relationship between oil prices and long-run market concern. • The short-run market concerns have an asymmetric influence on oil price volatility. • The Internet can exaggerate the impact of information shocks on oil price. - Abstract: With the acceleration of oil marketisation and the rapid development of electronic information carriers, external information shocks can be easily and quickly transmitted to the oil market through the Internet. This paper analyses the impact of short- and long-run market concerns, derived from search query volumes in Google for different domains around the oil market on oil volatility using co-integration and the modified EGARCH model. Empirical results suggest there is a long-term equilibrium relationship between oil prices and long-run market concern for oil prices and oil demand. The short-run market concerns for the 2008 financial crisis and the Libyan war convulsion have a significant and asymmetric influence on oil price volatility. This indicates that market concern transmitted through the Internet can strengthen the linkage between oil price changes and external events by influencing the expectation of market traders, and to some extent it can exaggerate the impact of nonfundamental information shocks

  8. Investor herds and oil prices evidence in the Gulf Cooperation Council (GCC equity markets

    Directory of Open Access Journals (Sweden)

    Talat Ulussever

    2017-09-01

    Full Text Available This paper scrutinizes the effect of crude oil prices on herd behavior among investors in the Gulf Cooperation Council (GCC stock markets. Using firm level data from Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Dubai and Abu Dhabi stock exchanges, we examine equity return dispersions within industry portfolios and test whether investor herds exist in these markets. We then assess whether crude oil price movements have any effect on the investment behavior of traders in the aforementioned markets. Our findings reveal significant evidence supporting herd behavior in all GCC equity markets with the exception of Oman and Qatar, more consistently during periods of market losses. Furthermore, we find significant oil price effects on herd behavior in these markets, particularly during periods of extreme positive changes in the price of oil. Our findings suggest that investors’ tendency to act as a herd in the said markets is significantly affected by the developments in the oil market.

  9. International hedging under concurrent risks of input/output prices and exchange rate : The case of Korean oil refinery

    Energy Technology Data Exchange (ETDEWEB)

    Yun, W C; Kim, S D [Korea Energy Economics Institute, Euiwang (Korea, Republic of)

    1997-11-01

    This study develops an international hedging model which accounts for the multiple risks of input and output prices and exchange rates. Considering a fixed production technology, we formulize simultaneous minimum variance hedge ratios, which reflects inter correlations among prices. To utilize the dynamic nature of prices, time-varying conditional procedures are specified to estimate the relevant variance and covariance matrix. The time-varying representations of the variance and covariance matrix are statistically appropriate, in general. The separate hedge ratios are similar to the simultaneous hedge ratios for alternative procedures. The ex post hedging effectiveness indicate that there are substantial reduction in the variance of returns for all the procedures. The contribution of foreign currency futures is minimal due to the low correlation between commodities and exchange rates. Based on the traditional definition of hedging effectiveness, the time-varying conditional procedure provide little gain to the hedgers over a constant procedure in terms of the mean and the variance reduction. However, the performance of conditional procedures could be improved by accounting for the potential problems: mis specification problem, inappropriate definition of hedging effectiveness, and conflicts between theoretical derivation and estimation of hedge ratios. (author). 39 refs., 6 tabs.

  10. Data quality assurance in international supply chains : An application of the value cycle approach to customs reporting

    NARCIS (Netherlands)

    Wang, Yuxin; Hulstijn, Joris; Tan, Yao-Hua

    2016-01-01

    With increasing international trade and growing emphasis on security and efficiency, enhanced information and data-sharing between different stakeholders in global supply chains is required. Currently, data quality is not only problematic for traders, but also for various government agencies that

  11. An Analysis of International Financial Reporting Standards (IFRS) Issues Concerning Some Elements of Accounting in Oil and Gas Industries in Nigeria

    OpenAIRE

    Uwaoma Ironkwe; Ordu Promise A.

    2015-01-01

    IFRS cut across all segments of industries. However, concerning the Oil and Gas industry sectors, IFRS has significant impact. IFRS has various guidelines that help to make the convergence to the new system, especially, in Oil and Gas accounting and reporting easy. Interestingly, accounting for Oil and Gas activities presents many difficulties. Significant upfront investment, uncertainty over prospects and long project lives have led to a variety of approaches being developed by companies and...

  12. The Factors Influencing on Consumption of Palm Cooking Oil in Indonesia

    Directory of Open Access Journals (Sweden)

    Ermy Teti

    2011-09-01

    Full Text Available Cooking oil is one of the most sensitive basic needs in Indonesia. The aims of the researchare to analyze factors influencing consumption of cooking oil, the cooking oil price, and theCrude Palm Oil price in Indonesia. Using simultaneous equation model, the study show thatpalm cooking oil consumption is significantly affected by domestic palm cooking oil priceand number of population. Whilst palm cooking oil price is significantly influenced by thecooking palm oil production and the domestic Crude Palm Oil price. Finally, the domesticCrude Palm Oil is significantly affected by international Crude Palm Oil price.Keywords: consumption, cooking oil price, crude palm oil price and cooking oil

  13. Achievement report for fiscal 1999 on international research cooperation project. Research and development of transfer standard for oil flowmeter; 1999 nendo sekiyu ryuryokei no iten hyojunki no kenkyu kaihatsu seika hokokusho

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-03-01

    Research was conducted for the development of a highly reliable flowmeter which enables the efficient calibration of flowmeters at oil plant working sites and the international comparison of oil flow standards, and is also usable as the standard of oil flow at private businesses. In this connection, international research cooperation was carried out with Physical Engineering Research Institute, Germany. In the study of rotors, tooth profiles were contrived and various analyses were conducted for each screw type. In the study of flow inside flowmeters and of structures, screw-type volumetric flowmeters of K Co. were subjected to various tests for structural analysis, and visible models were fabricated for the clarification of flow characteristics. In the study of servo systems and instrumentation, several types of pressure difference detecting mechanisms were newly contrived, and servo control systems were investigated. In the study of trial manufacture and evaluation, the UF-VI080{alpha} cast iron (FC250) rotor flowmeter and the UF-VI080{alpha} aluminum (A7075BE) rotor flowmeter were examined. Both failed to achieve the target precision of {+-}0.2% in the case of gasoline but, in the case of kerosene and heavy oil, the target levels were sufficiently met. (NEDO)

  14. The Cushing OK Crude Oil Futures Price Pass - Through to New York Harbor Reformulated RBOB Regular Gasoline Futures Price

    Directory of Open Access Journals (Sweden)

    Chu V. Nguyen

    2017-04-01

    Full Text Available This study utilizes an Autoregressive Distributed Lag model to investigate the nature of crude oil futures price pass-through since 2006. The empirical results reveal a very high but incomplete short-run pass-through rate from the crude oil futures price to the gasoline futures price of 0.849298 with a corresponding negative long-run pass-through rate of -0.2440894. These empirical findings suggest that traders in the U.S. oil and gasoline futures markets overreact to fluctuations in the crude oil futures price as evidenced by subsequent corrections made over the sample period. The result of the bounds test for a long-term relationship between these two futures prices is inconclusive. The empirical findings further suggest that U.S. futures market traders considered futures prices of gasoline three weeks earlier in determining the current trading price while taking only one week to respond completely to the shock in the crude oil futures price.  The empirical findings of this investigation may address the core elements of the price dynamics of the crude oil and gasoline futures markets and advance inquiry into assessment tools that could manage a very complex market challenge, especially for policy makers in countries with transitional economies in Eastern Europe, Caucasus and Central Asia.

  15. The role of market fundamentals and speculation in recent price changes for crude oil

    International Nuclear Information System (INIS)

    Kaufmann, Robert K.

    2011-01-01

    I hypothesize that the price spike and collapse of 2007-2008 are driven by both changes in both market fundamentals and speculative pressures. Contrary to arguments for a demand shock, I hypothesize that prices rise sharply in 2007-2008 because ongoing growth in Chinese oil demand runs into a sudden and unexpected halt to a decade long increase in non-OPEC production. This caused a loss of OPEC spare capacity because increased demand for OPEC production runs ahead of increases in OPEC capacity. These changes are reinforced by speculative expectations. Although difficult to measure directly, I argue for the role of speculation based on the following: (1) a significant increase in private US crude oil inventories since 2004; (2) repeated and extended break-downs (starting in 2004) in the cointegrating relationship between spot and far month future prices that are inconsistent with the law of one price and arbitrage opportunities; and (3) statistical and predictive failures by an econometric model of oil prices that is based on market fundamentals. These changes are related to the behavior and impact of noise traders on asset prices to sketch mechanisms by which speculative expectations can affect crude oil prices. - Research Highlights: → The 2007-2009 spike and collapse in oil prices is caused by a combination of market fundamentals and speculative expectations. → The rise is caused by an unexpected hiatus in non-OPEC oil production, not a sudden increase in demand. → The role of speculation is suggested by an increase in oil inventories, which reverses a twenty year period of declines, a decoupling between spot and futures prices, which violates the law of one price, and a breakdown of empirical models of oil prices based solely on market fundamentals. → Speculative expectations affect oil prices via noise traders, who create a risk that deters rational arbitrageurs from betting against them.

  16. Proceedings of the Go-Expo Gas and Oil Exposition and the 4. Annual Canadian International Petroleum Conference and the 54. Annual Technical Meeting of the Petroleum Society of CIM : Global Challenges and Technology Integration. CD-ROM ed.

    International Nuclear Information System (INIS)

    2003-01-01

    A series of technical papers dealing with various aspects of petroleum geology and resource development were presented at this conference and trade show which was attended by local and international participants. The 27 sessions reflected the changes facing the petroleum industry in terms of fluctuating product prices, aging staff, maturing basins, frontier development, and environmental concerns. The conference is truly international with nearly one third of the 250 presentations coming from outside of Canada. The presentations were targeted for managers, engineers, technologists, geologists, and other petroleum industry specialists dealing with issues such as: business development; conventional oil and gas recovery; conventional and unconventional heavy oil recovery; corrosion, pipelines and process engineering; drilling engineering; enhanced recovery; environmental management; production operations; regulatory and operations management; reservoir fluid characterization; reservoir simulation; risk management; well test analysis; and, well design and completions. A total of 124 papers have been processed separately for inclusion in this database. refs., tabs., figs

  17. Oil Spills

    Science.gov (United States)

    Oil spills often happen because of accidents, when people make mistakes or equipment breaks down. Other causes include natural disasters or deliberate acts. Oil spills have major environmental and economic effects. Oil ...

  18. Gas, oil, and environmental biotechnology IV

    Energy Technology Data Exchange (ETDEWEB)

    Akin, C; Markuszewski, R; Smith, J [eds.; Institute of Gas Technology, Chicago, IL (United States)

    1992-01-01

    Contains 32 papers presented at the 4th international IGT symposium on gas, oil and environmental biotechnology. Topics covered were: hydrocarbon bioremediation; groundwater, soil and explosives bioremediation; gas and oil reservoir souring; and biodesulfurization. 2 papers have been abstracted separately.

  19. Oil seed marketing prospects

    International Nuclear Information System (INIS)

    Ceroni, G.

    1992-01-01

    With its 100 million tonnes annual production, the American continent is by far the world's biggest producer of oil seed, followed by Asia - 52 million, and Europe - 27 million tonnes. The Italian and European Communities have the farming capacity to double their production, but international agreements currently prohibit such initiatives. After first providing a panorama of the world oil seed market, this paper discusses new reforms in European Communities internal agricultural policies which currently limit production. These reforms, intended to encourage the production of oil seed for use as an ecological automotive fuel alternative, call for an obligatory set-aside of 15% of producing farm-land in exchange for the compensatory removal of oil seed production limits

  20. Politics has strong say in who benefits from oil

    International Nuclear Information System (INIS)

    Tippee, B.; Beck, R.J.

    1995-01-01

    Oil's many values are more visible now than ever. Price information streams from financial and physical commodity markets around the world. A sophisticated array of analytical tools turns price data into nearly real-time indications of what a particular crude or petroleum product is worth to a particular type of trader in a particular market. Value, though, means something beyond price. Economic values ultimately must benefit someone. In a market that gushes price data, it's much easier to measure oil values than it is to determine who benefits from them. The paper discusses new value gauges, where values flow, the trend toward lower government take upstream, the decade-long trend in the decline of state takes, suppressing prices, political dimensions, the squeeze OPEC feels, taxing products, claim on values, and values in perspective

  1. What is behind the increase in oil prices? Analyzing oil consumption and supply relationship with oil price

    International Nuclear Information System (INIS)

    Gallo, Andres; Mason, Paul; Shapiro, Steve; Fabritius, Michael

    2010-01-01

    The continuing increases in oil prices have renewed the argument over the real culprits behind these movements. The growth in demand for oil in international markets, especially from the United States and China, is often identified as the main source of consumption pressure on prices, and thus the upward trend in oil prices. This paper uses unit root tests with two endogenous breaks to analyze the characteristics of oil prices, production, and consumption for several countries. By taking into account structural breaks, we find that many countries' oil consumption and oil prices are stationary, while other countries' are not. We also perform causality tests to determine the direction of any possible relationship between oil price and oil consumption and production. Our statistical analysis reveals that production variables cause oil prices, while oil prices tend to cause consumption. As a result, we claim that the blame for the recent fluctuations in oil prices is more appropriately associated with supply factors, not consumption influences. (author)

  2. Exploring Vietnam's oil potential

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    A brief review is given of the oil production potential in Vietnam. Since Since 1987, the country has been open to foreign investment in offshore exploration but has suffered from a US embargo on trade and economic ties. Nevertheless some exploration has occurred and twenty production sharing contracts with international oil companies has been signed. To date most of the finds have been non-commercial but optimism remains high. (U.K.)

  3. China's oil resources

    Energy Technology Data Exchange (ETDEWEB)

    Wiesegart, K

    1981-03-01

    The United Nations International Meeting on Petroleum Geology is being held this month from 18-25 in China, a country whose oil reserves up to mid-sixties had been judged by foreign observers to be minute and the development of her oil sector of no major importance. Today, with an annual crude output of 106 mn tons, China already ranks ninth among the world's oil producers. And, with the prospect of a further advance towards leadership among producers and exporters of the coveted energy material, the West is showing growing interest in China's energy potential. How real is this prospect forms the subject of this article. 3 tables.

  4. Challenge - oil crisis

    International Nuclear Information System (INIS)

    Vogler, O.

    1981-01-01

    After a short survey on recent developments of energy supply the risks of future energy supply and its effects are discussed. The parameters of dependence on oil-producing countries are studied and an evaluation is given on the measures which have to be taken by the Western industrialized countries in response to the dependence on oil. Further subjects are: mechanism of oil distribution in case of crisis, long-term cooperation of producer countries, measures on international level in the USA and Japan, and the energy-importing countries in the conflict area between OPEC- and industrialized countries. (UA) [de

  5. Oil and development

    Energy Technology Data Exchange (ETDEWEB)

    Ellis, F

    1974-10-01

    The shift in world income due to the increase in oil prices has resulted in a world economy that has been thrown off balance. Nine papers are presented that explore the background and the main implications of this ''watershed'' in international relations, particularly the extent to which it will affect the development prospects of poor countries and the climate of trade between poor and rich nations in the next few years. Two papers, ''Diary of Events in the Oil Market 1971--1974'' and ''Statistical Background,'' provide information on the financial changes implied by the price increase; some of the figures should be treated as preliminary estimates only. ''Large International Firms in the Oil Industry'' examines the part played by the major oil companies in developments in the oil market leading up to the events of 1973. Two papers, ''Can OPEC Maintain Current Prices'' and ''OPEC As a Model for Other Mineral Exporters,'' present optimistic conclusions, from the viewpoint of developing countries, on their future capability for controlling their own destinies in trade. ''A Note on Some Issues Raised for Science and Technology Policy by the Increase in Oil Prices'' looks at options open to producers and consumers of raw materials. ''Assessing the Economic Impact on Developing Countries and Some Policy Suggestions,'' ''A Note on the Implications of the Oil Price Increases for British Aid Policy,'' and ''Confrontation Versus Co-operation'' are three papers concerned with difficulties of developing countries and particularly India, Bangladesh, and Sri Lanka. (MCW)

  6. Priests, technicians and traders: actors, interests and discursive politics in Brazil’s agricultural development cooperation programmes with Mozambique

    OpenAIRE

    Cabral, Lídia Vilela

    2016-01-01

    This research is about Brazil’s international development cooperation in agriculture. I take two cooperation programmes carried out by the Brazilian government in Mozambique – ProSAVANA and More Food International (MFI) – to analyse the processes whereby cooperation policy is formed and transformed. I ask how Brazil’s domestic politics interact with international affairs to shape agricultural cooperation with Mozambique. I consider the ‘priests, technicians and traders’ of Brazilian cooperati...

  7. Regulation of oil trading: a U.S. and U.K. legal update (or) Death of Transnor

    International Nuclear Information System (INIS)

    Turck, N.B.

    1992-01-01

    Current law in the USA and United Kingdom relating to commodities trading in oil and oil products is an area of uncertainty and case law is not necessarily consistent with regulation. The principal laws relating to commodities trading are reviewed and analysed as they apply to the oil market. In the case of the USA this is the Commodities Exchange Act (CEA) administered by the Commodities Future Trading Commission (CFTC). Conflicting interpretations of the CEA of the US Federal Court in a case concerning the Brent crude transactions of the Transnor company, and by the CFTC, are examined. In contrast to the USA, where transactions and the market are regulated, the United Kingdom regulation is aimed at the traders and their behaviour. In the United Kingdom, the Financial Services Act 1986 (FSA) established self-regulating professional bodies to issue rules governing the conduct of entities carrying on investment business. Rules applying to oil and product traders are issued and enforced by the Security and Futures Authority Ltd (SFA). Additionally the Securities and Investment Board (SIB), the umbrella organisation of the regulatory bodies established by the FSA, has produced an Oil Market Code of Practice which is appended to this article. (UK)

  8. Conversion of by-products from the vegetable oil industry into biodiesel and its use in internal combustion engines: a review

    Directory of Open Access Journals (Sweden)

    R. Piloto-Rodríguez

    2014-06-01

    Full Text Available Biodiesel produced from by-products and waste materials can be an economical way of reducing traditional oil consumption and environmental problems. The by-products from the vegetable oil refining industry such as soapstock, acid oil and fatty acid distillates are suitable for producing biodiesel. The present work is a survey related to the use of these by-products to obtain biodiesel, covering not only the traditional and most widely used acid/base catalysis, but also solid and enzymatic catalysis. Details of the techniques are presented and compared. The advantages and drawbacks of the different approaches are mentioned and analyzed. The synthesis and use of by-products from the vegetable oil refining industry are covered in this work. The use of the obtained biodiesel in diesel engines is also included, demonstrating the disparity between the number of papers related to biodiesel production and engine performance assessment.

  9. Oil risk in oil stocks

    NARCIS (Netherlands)

    Scholtens, Bert; Wang, L

    2008-01-01

    We assess the oil price sensitivities and oil risk premiums of NYSE listed oil & gas firms' returns by using a two-step regression analysis under two different arbitrage pricing models. Thus, we apply the Fama and French (1992) factor returns in a study of oil stocks. In all, we find that the return

  10. The new oil politics

    International Nuclear Information System (INIS)

    Rodado Noriega, Carlos

    1999-01-01

    With a varied menu of adjustments, Colombia looks for to improve the range of international competitiveness and to attract the elusive private investment of risk for the future development of the oil sector. Colombia has just given to its oil sector the biggest rolling in the last decades. A series of measures of diverse class looks for to assign to the country a bigger range of competitiveness international and better exploration indicators that it assures in the time the auto supply of hydrocarbons and the export of surpluses

  11. Microeconomic relationships between and among fishers and traders influence the ability to respond to social-ecological changes in a small-scale fishery

    Directory of Open Access Journals (Sweden)

    Stuart Kininmonth

    2017-06-01

    Full Text Available Understanding the cross-scale nature of how natural resource trading links to local extraction patterns remains a topic of great relevance to stewardship and sustainable use of ecological systems. Microeconomic influences on a society's pattern of small-scale natural resources utilization can exacerbate resource overuse, especially under increased population pressure. In many rural communities that are based on a limited diversity of resource industries, quantifying the response of extractors and traders to market and environmental fluctuations is critical to understanding management constraints. We examine the fishing practices of a small lake in Uganda, East Africa, from the dual perspectives of the traders and the fishers using a Bayesian Belief Network approach based on detailed interview surveys. Fishers in this small lake target Nile perch (Lates niloticus and Nile tilapia (Oreochromis niloticus, two fish species of high commercial and food security significance in East Africa. We combined data on financial, social, and ecological systems to understand how aspects of trading quantitatively relate to fish extraction patterns in Lake Nabugabo Uganda. Importantly, we find that the patron-client type relationships generate incentives to extract specific fish, whereas "freelancer" independent fishers are able to create responsive and flexible extraction practices that match market and environmental fluctuations. Management of fishing administered by local Beach Management Units will likely have a higher probability of success when in synchrony with trading relationships and ecological dynamics. We use this study in Uganda to reflect on methodological challenges and opportunities of combining multiple types of data sets for cross-scale analysis of social-ecological system dynamics.

  12. Oil trade: politics and prospects

    International Nuclear Information System (INIS)

    Hartshorn, J.E.

    1993-01-01

    After a century of exponential growth, the international oil industry suddenly slowed down in the 1970s, faltered during the 1980s, and by the early nineties was only just about back to its 1979 level. In a descriptive analysis of current influences upon the world oil trade, this book explores the reasons behind that slowdown - which are not all attributable to OPEC or its nationalisation of international major oil companies. It assesses the growth and decay of Opec monopoly power in the crude oil market, as the latest demonstration of a paradoxical but persistent imbalance in this international business: its tendency to maximise the production of high-cost rather than low-cost oil. (author)

  13. Middle East oil and gas

    International Nuclear Information System (INIS)

    1995-01-01

    This study is intended to shed light on structural changes occurring in six Middle East countries (Iran, Iraq, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates) that can be expected to have a significant impact on their oil and gas industry. These six countries provide 42% of the world's traded crude oil, on which Member countries of the International Energy Agency (IEA) are increasingly dependent. They also contain about 65% and 30% of the world's proven oil and natural gas reserves, respectively, and command a strategic location between Europe and Asia. The Middle East has been one of the most volatile parts of the world where war, revolution and embargoes have caused major upheavals that have led to oil supply disruptions. The oil resources of all six countries were initially developed by international oil companies and all are members of the Organization of the Petroleum Exporting Countries (OPEC). In 1994, their crude oil production capacity was about 23 million barrels per day (mbd) and is planned to expand to about 28 mbd by the year 2000. Revenue from the sale of oil accounts for more than 80% of each nation's total exports and about 75% of each government's income. The objectives of this study are: to detail their announced oil and gas development plans, to describe the major trends occurring in these countries, to outline the government responses to the trends, and to analyse the impact of government policies on oil and gas development. (J.S.). 121 refs., 136 figs., 212 tabs

  14. 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.

  15. Oil & Ethnocentrism: A study of Global Oil & Gas Organisations

    OpenAIRE

    Rees, Gareth

    2014-01-01

    This dissertation will examine the concept of ‘ethnocentrism’, or a belief in the superiority of one’s own cultural norms and values, against the backdrop of the Global Oil & Gas Service industry. Using Howard Perlmutter’s framework, ethnocentrism will be tested and analysed across distinct areas of international business; staffing and cultural prevalence, the management of international subsidiaries and corporate and national culture. Data will be collected from experienced Oil & Gas ma...

  16. Oil spill statistics and oil spill monitoring

    Energy Technology Data Exchange (ETDEWEB)

    Viebahn, C. von [Greifswald Univ. (Germany). Dept. of Geography

    2001-09-01

    The main parts of the report describe the analysis and it's results of German and international oil spill data (North Sea and Baltic Sea). In order to improve the current oil spill monitoring of the Baltic Sea regarding oil spill data, the report proposes the establishment of a combined monitoring system; its suitability is shown on selected examples. This contains today's pollution control aircraft plus in-service aircraft and satellites. (orig.) [German] Der Schwerpunkt der Arbeit liegt in der Analyse von Daten ueber marine Oelschadensfaelle in deutschen und internationalen Gewaessern (Nord- und Ostsee). Um die heutige Ueberwachung der Ostsee im Hinblick auf Oelschadensfaelle zu verbessern, wird die Einrichtung eines kombinierten Ueberwachungssystems vorgeschlagen und dessen Eignung an ausgewaehlten Beispielen dargestellt. Dieses umfasst sowohl die heute eingesetzten Ueberwachungsflugzeuge sowie zusaetzlich Linienflugzeuge und Satelliten. (orig.)

  17. Oil spill response plan

    International Nuclear Information System (INIS)

    1999-08-01

    The plan outlined in this document specifies the actions that the Canadian Wildlife Service Atlantic Region is mandated to take in the event of an oil spill, or on discovering oiled migratory birds in terrestrial, fresh water, marine and inter-tidal habitats. In addition to describing the role and responsibilities of the Canadian Wildlife Service, the document also describes response plans of other agencies for dealing with all wildlife species affected by oil spills. Reporting paths, the lead agency concept, shared responsibilities with other Canadian Wildlife Service regional offices, provincial agencies, Heritage Canada, non-government wildlife response agencies, oil spill response organizations, and international organizations are outlined. An overview of the reporting and communications process is also provided

  18. Supply of Liquefied Natural Gas according to the European Federation of Energy Traders. An analysis of the applied supply modality

    International Nuclear Information System (INIS)

    Van de Linde, D.M.

    2010-01-01

    This article addresses the relation between the title subject and the status of the so-called International Commercial Terms and their place in laws and regulations. Subsequently, an analysis is conducted of the title, risk and ownership transfer within LNG MA (Master Delivery Ex Ship (DES) LNG Sale and Purchase Agreement). Moreover, attention is paid to various obligations in view of the International Treaty of 1996 regarding liability and compensation for damage caused by sea shipping of dangerous and hazardous substances (HNS treaty). Finally, an answer is provided to the question whether the Incoterm DES is the best Incoterm, or if a better alternative is provided by the International Chamber of Commerce. [nl

  19. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-05-01

    The International Petroleum Statistics Report is a monthly publication that provides current international oil data. This report is published for the use of Members of Congress, Federal agencies, State agencies, industry, and the general public. Publication of this report is in keeping with responsibilities given the Energy Information Administration in Public Law 95-91. The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1995; OECD stocks from 1973 through 1995; and OECD trade from 1985 through 1995.

  20. Water issues associated with heavy oil production.

    Energy Technology Data Exchange (ETDEWEB)

    Veil, J. A.; Quinn, J. J.; Environmental Science Division

    2008-11-28

    Crude oil occurs in many different forms throughout the world. An important characteristic of crude oil that affects the ease with which it can be produced is its density and viscosity. Lighter crude oil typically can be produced more easily and at lower cost than heavier crude oil. Historically, much of the nation's oil supply came from domestic or international light or medium crude oil sources. California's extensive heavy oil production for more than a century is a notable exception. Oil and gas companies are actively looking toward heavier crude oil sources to help meet demands and to take advantage of large heavy oil reserves located in North and South America. Heavy oil includes very viscous oil resources like those found in some fields in California and Venezuela, oil shale, and tar sands (called oil sands in Canada). These are described in more detail in the next chapter. Water is integrally associated with conventional oil production. Produced water is the largest byproduct associated with oil production. The cost of managing large volumes of produced water is an important component of the overall cost of producing oil. Most mature oil fields rely on injected water to maintain formation pressure during production. The processes involved with heavy oil production often require external water supplies for steam generation, washing, and other steps. While some heavy oil processes generate produced water, others generate different types of industrial wastewater. Management and disposition of the wastewater presents challenges and costs for the operators. This report describes water requirements relating to heavy oil production and potential sources for that water. The report also describes how water is used and the resulting water quality impacts associated with heavy oil production.

  1. Lavender oil

    Science.gov (United States)

    Lavender oil is an oil made from the flowers of lavender plants. Lavender poisoning can occur when ... further instructions. This is a free and confidential service. All local poison control centers in the United ...

  2. Petroleum Oils

    Science.gov (United States)

    Different types of crude oil and refined product, of all different chemical compositions, have distinct physical properties. These properties affect the way oil spreads and breaks down, its hazard to marine and human life, and the likelihood of threat.

  3. Bahrain oil and development 1929-1989

    International Nuclear Information System (INIS)

    Clarke, A.

    1990-01-01

    This book describes the economic, political, and social elements of relations between international oil companies and Bahrain. It also provides insights into Middle East regional oil and gas development, oil pricing and production evolution, and relations between Persian Gulf states and such western powers as Great Britain and the U.S

  4. Oil biodegradation

    NARCIS (Netherlands)

    Rahsepar, Shokouhalsadat; Langenhoff, Alette A.M.; Smit, Martijn P.J.; Eenennaam, van Justine S.; Murk, Tinka; Rijnaarts, Huub H.M.

    2017-01-01

    During the Deepwater Horizon (DwH) oil spill, interactions between oil, clay particles and marine snow lead to the formation of aggregates. Interactions between these components play an important, but yet not well understood, role in biodegradation of oil in the ocean water. The aim of this study

  5. Oil: economic and political factors

    International Nuclear Information System (INIS)

    Ayoub, A.

    1994-01-01

    This article deals with the evolution of the international petroleum sector since 1973 with a special view to interdependence between the economic and political factors that influence it. Two issues are focused upon: (1) 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 (2) the determination of oil prices. The latter involves a discussion of, on the one hand, the political and economic behaviour of the United States and Saudi Arabia and, on the other, the combination of cooperation and conflict that has tended to characterize relations among OPEC countries. (author). 30 refs

  6. Oil Market and Prices Prospects for 2014

    Directory of Open Access Journals (Sweden)

    Mariana Papatulica

    2013-10-01

    Full Text Available The international crude oil prices started the year 2014 within parameters comparable to those of the precedent year: WTI (USA recorded 92 $/barrel, on the American spot market, considered a minimum value for the last 5 weeks, while Brent (Great Britain had a more stable evolution, on the spot Rotterdam market, staying around a value of 107,50 $/barrel. Despite analysts’ forecasts, which during the last 3 years staked on a lower oil price, as a consequence of the spectacular increase in non-OPEC oil production, namely of shale oil, the international oil price, namely that of Brent, closed each of the last 3 years around the same level, of 108 $/barrel. As for 2014, the great majority of oil analysts estimates again a decline of oil prices, as a result of a significant rise of oil offer globally, which will greatly surpass the demand rise.

  7. 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)

  8. IEA Shows Concerns Over China's Oil Stockpiling

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ Reportedly, China's oil imports accounted for nearly one third of the world's total oil supply in 2003. The country's oil imports are estimated at 110~120 million tons in 2004,equal to 2.2~2.4 million barrels per day, much higher than 91 million tons in 2003. International Energy Agency has helped the Chinese government with the country's strategic oil stockpiling plan by offering the training. The Paris-based IEA has urged China to take into consideration how to operate and maintain the national strategic oil stockpiling system and clarify the roles of the enterprises and the State in oil stockpiling.

  9. US oil dependency and energy security

    International Nuclear Information System (INIS)

    Noel, P.

    2002-01-01

    The three papers of this document were written in the framework of a seminar organized the 30 may 2002 by the IFRI in the framework of its program Energy and Climatic Change. The first presentation deals with the american oil policy since 1980 (relation between the oil dependence and the energy security, the Reagan oil policy, the new oil policy facing the increase of the dependence). The second one deals with the US energy security (oil security, domestic energy security, policy implications). The last presentation is devoted to the US oil dependence in a global context and the problems and policies of international energy security. (A.L.B.)

  10. Remarks on Trade Usages And Business Practices In International Sales Law

    OpenAIRE

    Leonardo Graffi

    2011-01-01

    Trade usages and business practices are key elements of international commerce. In their day-to-day activities, traders and business people around the world constantly rely upon trade usages and business practices across a variety of industries. Usages and practices tend to be dignified by the business community with a status equivalent to that of actual law. As a matter of fact, many business persons often tend to regard trade usages and business practices as very powerful tools to ensure th...

  11. International energy indicators

    International Nuclear Information System (INIS)

    Rossi, E. Jr.

    1981-12-01

    Data are tabulated and graphically represented on international energy indicators. The following are presented: world crude oil production, 1974 to October 1981; OPEC crude oil productive capacity; world crude oil and refined product inventory levels, 1975 to October, 1981; oil consumption in OECD countries, 1975 to October 1981; USSR crude oil production and exports, 1975 to October, 1981; free world and US nuclear electricity generation, 1973 to December, 1981 and current capacity. Specific US data presented are: US domestic oil supply, 1977 to June, 1981; US gross imports of crude oil and products, 1973 to October, 1981; landed cost of Saudi crude current and 1974 dollars; US coal trade, 1975 to September, 1981; US natural gas trade, 1975 to October, 1981; summary of US merchandise trade, 1977 to October, 1981; and energy/GNP ratio

  12. Marine oil spill response organizations

    International Nuclear Information System (INIS)

    Hendry, C.

    1997-01-01

    The obligations under the law relative to the prevention of marine oil spills and the type of emergency plans needed to mitigate any adverse effects caused by a marine oil spill were discussed. The organizational structure, spill response resources and operational management capabilities of Canada's newly created Response Organizations (ROs) were described. The overall range of oil spill response services that the RO provides to the domestic oil handling, oil transportation and the international shipping industries were reviewed. Amendments to the Canada Shipping Act which require that certain ships and oil handling facilities take oil spill preparedness and response measures, including having an arrangement with an RO certified by the Canadian Coast Guard, were outlined. Canadians now benefit from five ROs established to provide coast-to-coast oil spill response coverage. These include the Western Canada Marine Response Corporation, the Canadian Marine Response Management Corporation, the Great Lakes Response Corporation, the Eastern Canada Response Corporation and the Atlantic Emergency Response Team Ltd. ROs have the expertise necessary to organize and manage marine oil spill response services. They can provide equipment, personnel and operational management for the containment, recovery and cleanup of oil spilled on water

  13. Bioremediation of oil spills

    International Nuclear Information System (INIS)

    Webb, M.

    1992-01-01

    For some years now UK and European oil spill response agencies, together with oil companies having an exploration or production interest in the European area, have been developing interest in the possible use of bioremediation techniques in combatting oil spills. The interest has accelerated in the aftermath of Exxon Valdez but there is significant scepticism over the actual value of the technique. The promise of increased rates of oil degradation, using bacteria or nutrients, does not yet appear to have been properly validated and there is concern over possible knock-on environmental effects. In consequence the response agencies are reluctant to bring the technique into their current combat armory. Some of the questions raised are: What efficacious techniques are available and how were they proven? On what type of oils can they be used? What is the scope for their use (at sea, type of coastline, temperature limitations, etc.)? What are the short and long term effects? Does bioremediation really work and offer a potential tool for oil spill clean-up? How do cleaning rates compare with natural recovery? There are many others. The view of the European Commission is that there should be a coordinated effort to answer these questions, but that effort should be properly targeted. I concur strongly with this view. The tasks are too large and varied for piecemeal attention. The European Commission wishes to initiate appropriate coordinated work, directed at the needs of European nations but which will subsequently inform the international response community through the International Maritime Organization and its Oil Pollution Preparedness and Response Cooperation initiative

  14. The Mexican oil industry

    International Nuclear Information System (INIS)

    Marcos-Giacoman, E.

    1991-01-01

    In the environment of growing domestic demand and enhanced international competitiveness, Petroleos Mexicanos (PEMEX)-the Mexican national oil company-faces the challenge of not only responding adequately to the rapid changes taking place in the Mexican economy, but making a significant contribution towards solid and stable growth. This paper reports that the relevant concern is how PEMEX is going to live up to these expectations. The Mexican oil industry, especially including the petrochemical sector, has great potential in terms of an ample domestic market as well as external foreign-currency-generating markets

  15. Hydrocarbon oils

    Energy Technology Data Exchange (ETDEWEB)

    Foorwood, G F; Taplay, J G

    1916-12-12

    Hydrocarbon oils are hydrogenated, cracked, or treated for the removal of sulfur by bringing their vapors mixed with steam at temperatures between 450 and 600/sup 0/C into contact with a form of carbon that is capable of decomposing steam with the production of nascent hydrogen at those temperatures. The forms of carbon used include lamp-black, soot, charcoals derived from wood, cellulose, and lignite, and carbons obtained by carbonizing oil residues and other organic bodies at temperatures below 600/sup 0/C. The process is applied to the treatment of coal oil, shale oil, petroleum, and lignite oil. In examples, kerosene is cracked at 570/sup 0/C, cracked spirit is hydrogenated at 500/sup 0/C, and shale spirit is desulfurized at 530/sup 0/C. The products are led to a condenser and thence to a scrubber, where they are washed with creosote oil. After desulfurization, the products are washed with dilute caustic soda to remove sulfurretted hydrogen.

  16. Oil crises

    International Nuclear Information System (INIS)

    Linderoth, H.

    1992-01-01

    The author's aim was to give very precise information on the many causes and effects of the oil crises that have occurred since 1900, and at the same time offer the reader the possibility to build up a basic knowledge of the oil industry and market, as he feels that the public is often subjected to misleading information. Political and economical aspects are elaborated. First-hand sources such as statistics and investigations have been used as far as possible to give information on the oil market. An oil crisis is defined by the author as a significant change in the price of oil compared to prices of other goods. Changes can be in the form of either rising or falling prices. A special chapter concentrates on Denmark in relation to the oil crises. (AB) (165 refs.)

  17. 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

  18. Washing ashore: The politics of offshore oil in northern Angola

    Science.gov (United States)

    Reed, Kristin Michelle

    This dissertation examines the political ecology of Angolan oil, by exploring state and corporate political economies; historical convergences of violence and capital; and struggles over the costs and benefits of oil production from the perspective of artisanal fishing and farming communities in the extractive zones. Angola is sub-Saharan Africa's second-largest oil producer but revenues from the enclave sector in oil rarely trickle down to the impoverished populace. The Angolan government strategically invests petrodollars in patronage networks to bolster their power; and watchdog agencies claim top officials divert the balance to offshore accounts. While the enclaved nature of production facilitates the restricted distribution of oil monies by concentrating services and revenue streams, the distortions and externalities that bleed out from these enclaves increase the misery of Angolans---especially those living in the extractive zones. By focusing on the lived experience of extraction, I explore the politics of oil through the forms of violence and degradation threatening the lives and livelihoods of local people. Most of Angola's oil is produced from offshore fields, so oil spills present a considerable risk to the health of local communities and ecosystems. The fishers and fish traders suffering from oil spills demand compensation from the liable oil corporations, yet the skewed system of disbursements only reaches the most powerful claimants. Moreover, faced with a repressive and unresponsive government, communities in extractive zones have come to rely on the same corporations for schools and health posts in a system I refer to as oil-backed development. I demonstrate that local histories of violence, national political exigencies, and transnational corporate interests govern the distribution of oil-backed development projects. Furthermore, I argue that the Angolan government leverages corporate donations for development to suit its own exclusionary interests

  19. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-07-01

    The International Petroleum Statistics Report is a monthly publication that provides current international data. The report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent 12 months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1996; OECD stocks from 1973 through 1996; and OECD trade from 1986 through 1996.

  20. Expectations of oil prices in international market: some considerations; Algumas consideracoes sobre as expectativas dos precos do petroleo no mercado internacional

    Energy Technology Data Exchange (ETDEWEB)

    Salles, Andre A. de [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil)

    2008-07-01

    The petroleum market belongs to the more volatile when compared to other markets of financial active. Thus, market academic and professionals recognize the difficulty, and complexity, to obtain a prices forecast model when talking about oil. This work has for objective introduce an alternative methodology to the models which have been presented in the literature, with regard to the procedures of statistical inference. This methodology takes in consideration, in the construction of the prices forecast models, the violation of homoscedasticity, purpose of the classical econometric methods, and the occurrence of abnormal information in the temporal series of the prices or of the returns. This methodology, with Bayesian focus, for forecast models construction of the returns of the petroleum prices, takes in to account the heteroscedasticity of the returns and not the normality. The used information in this work was closing quotations of the market spot of petroleum of the type WTI negotiated in NYMEX. From the market daily prices of oil WTI (West Texas Intermediate), from the period of June 2006 to March 2007, were calculated returns, performing 202 information to be used in the introduced models. The used alternative models introduced presents a superior performance to the available models in the literature and commented in this work. (author)

  1. seed oil

    African Journals Online (AJOL)

    Wara

    Neem seed oil from the neem tree (Azadiracta indica) finds wide usage one of which is its utilization for cosmetics particularly .... obtained which is higher than that of olive oil 17. mgKOH/g (Davine ... The skin tolerance of shea fat employed as ...

  2. Geotechnical properties of crude oil contaminated sand

    International Nuclear Information System (INIS)

    Puri, V.K.; Das, B.M.; Cook, E.E.; Shin, E.C.

    1994-01-01

    Contamination of soil due to an oil spill influences its subsequent engineering behavior. An investigation was conducted to study the effect of crude oil contamination on compaction characteristics, shear strength, one-dimensional compression, and coefficient of permeability. Water permeability was also determined by using commercial grade motor oils as contaminants. The test results indicate that the compaction characteristics are influenced by oil contamination. The angle of internal friction of sand (based on total stress condition) decreases due to presence of oil within the pore spaces in sand. One dimensional compression characteristics of sand are significantly influenced by oil contamination resulting in a decrease in the value of constrained modulus with increase in the degree of oil contamination compared to the case of dry sand. Water permeability was observed to be a function of the initial viscosity and the degree of saturation due to the contaminating oil

  3. Dynamics of world oil crops market

    Directory of Open Access Journals (Sweden)

    Knežević Marija

    2012-01-01

    Full Text Available According to the harvested area, oil crops are the second most important crops after cereals. Soybean is the most important oil crop in terms of production and trade of oilseeds and meals, and second most important in terms of production and trade of vegetable oils after palm oil. Dynamics of prices of derived oil crop products in the international market is conditioned by the relationship between supply and demand in the overall market of oil crops. The substitution of animal fats with vegetable oils in human nutrition, the expansion of biodiesel industry and intensification of livestock production have led to increased demand for oil crops. The objective of this paper was to identify trends in production, consumption and trade of soybeans, rapeseed and sunflower and their derived products.

  4. An international perspective

    International Nuclear Information System (INIS)

    Skinner, R.

    2004-01-01

    Recent developments in the oil markets were reviewed in order to examine the international context for energy policy and challenges. The main elements and trends in global energy supply and demand were also reviewed along with the issues they present. Oil markets and energy supply industries in North America are influenced by industry consolidation, regulatory reform and oil pricing. Grid-based industries have been the main target of market reform policies. This presentation examined the world energy outlook in terms of fossil fuel use, demand growth in developing countries, energy security, and how to reduce greenhouse gases. It was noted that in addition to energy efficiency and renewable energy sources, unconventional oil from Canada's oil sands will appear in the oil business scene. The author emphasized that a key policy goal will be the removal of barriers to investment in energy supplies. figs

  5. H.R.1671: A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of foreign oil and gas income, introduced in the House of Representatives, One Hundred Second Congress, First Session, April 9, 1991

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    The bill explains special rules for foreign tax credit with respect to foreign oil and gas income by amending the following sections: certain taxes not creditable; separate baskets for foreign oil and gas extraction income and foreign oil related income; and elimination of deferral for foreign oil and gas extraction income. The effective date would be December 31, 1991

  6. Economic Analysis of Production of Essential Oil using Steam ...

    African Journals Online (AJOL)

    acer

    Economic Analysis of Production of Essential Oil using. Steam Distillation ... The return on investment (ROI) was 125%, internal rate of return ... oils, over dependency on petrodollar and ... The steam may be obtained from external boiler or.

  7. Phenolation of vegetable oils

    Directory of Open Access Journals (Sweden)

    ZORAN S. PETROVIĆ

    2011-04-01

    Full Text Available Novel bio-based compounds containing phenols suitable for the syn­thesis of polyurethanes were prepared. The direct alkylation of phenols with different vegetable oils in the presence of superacids (HBF4, triflic acid as ca­talysts was studied. The reaction kinetics was followed by monitoring the de­crease of the double bond content (iodine value with time. In order to under­stand the mechanism of the reaction, phenol was alkylated with model com­pounds. The model compounds containing one internal double bond were 9-oc­tadecene and methyl oleate and those with three double bonds were triolein and high oleic safflower oil (82 % oleic acid. It was shown that the best structures for phenol alkylation are fatty acids with only one double bond (oleic acid. Fatty acids with two double bonds (linoleic acid and three double bonds (lino­lenic acid lead to polymerized oils by a Diels–Alder reaction, and to a lesser extent to phenol alkylated products. The reaction product of direct alkylation of phenol with vegetable oils is a complex mixture of phenol alkylated with poly­merized oil (30–60 %, phenyl esters formed by transesterification of phenol with triglyceride ester bonds (<10 % and unreacted oil (30 %. The phenolated vegetable oils are new aromatic–aliphatic bio-based raw materials suitable for the preparation of polyols (by propoxylation, ethoxylation, Mannich reactions for the preparation of polyurethanes, as intermediates for phenolic resins or as bio-based antioxidants.

  8. China's quest for oil security: oil (wars) in the pipeline?

    OpenAIRE

    Lee, Pak K.

    2005-01-01

    China's rapidly expanding demand for crude oil in the 1990s has brought about debates about the potential impact of the energy challenges facing China. Within the country, energy as a security issue has seized the attention of its leaders. Outside China, international strategic thinkers have been arguing among themselves over how China's thirst for oil would impact on regional peace and stability.\\ud \\ud This paper sets out to examine the following questions: How and why has the basic need fo...

  9. Production and characterization of ceramic composite Al_2O_3-TiO_2 reinforced with Y_2O_3 and its stability in crude oil for internal coating of petroleum tankers

    International Nuclear Information System (INIS)

    Yadava, Y.P.; David, N.R.; Sanguinetti Ferreira, R.A.; Shinohara, A.H.

    2014-01-01

    The internal surfaces of crude petroleum tankers are subjected to corrosive environments, therefore it is of great importance to research coatings for the protection of those structures. Ceramic materials generally exhibit characteristic chemical inertness and are shown as material option for this application. In this study alumina-titania ceramic composites have been produced and reinforced with yttria. These composites were produced by thermo-mechanical process, sintered at 1350 ° C for 24 hours, and left to cool down in the oven. The structural and microstructural characterization of the sintered material was tested by X-ray diffraction and scanning electron microscopy. And its mechanical property was studied by Vickers microhardness test. After this characterization, the samples underwent a stability test where they were immersed in crude oil at room temperature for 60 days, during which were periodically subjected to tests related to stability, which was found found that the material was free from cracks, fissures or fractures, presenting for these reasons characteristics of inertia when subjected to crude oil environment. (author)

  10. Latest oil data, trends and prospects

    International Nuclear Information System (INIS)

    Tempest, Paul

    1996-01-01

    Reserves of crude oil, especially in non-opec areas continue to grow steadily. OPEC, however, remains dominant in the international trade of oil. Oil production, too, is buoyant, with expansion in OPEC running at 0.7% for 1994 and non-OPEC production expansion at 4.2%. Overall demand for oil also rose (by 1.7%), a sharp fall in CIS state consumption notwithstanding. Import dependence continues to grow. Heavy investment by the petroleum industry in production, transportation and processing is expected over the next thirty years. However, oil's share of the world energy mix continues to be eroded by nuclear power, gas and coal, despite adequate supplies. (UK)

  11. Hydraulic oil control system for transformer stations

    International Nuclear Information System (INIS)

    Truong, P.

    2002-01-01

    'Full text:' Electrical oil control systems are commonly used to contain large volumes of spilled oil in transformer stations. Specially calibrated floats, some of which are designed to float only in oil and others only in water, are used in combination with a pump to contain oil at the catch basin below a transformer station.This electrical control system requires frequent maintenance and inspections to ensure the electrical system is not affected by any electrical surges. Also the floats need to be inspected and cleaned frequently to prevent oil or grit build up that may affect the systems' ability to contain oil.Recognizing the limitations of electrical oil control systems, Hydro One is investigating alternative control systems. A hydraulic oil control system is being investigated as an alternative which can backup oil in a containment area while allowing any water entering the containment area to pass through. Figure 1 shows a schematic of a bench-top model tested at Ryerson University. Oil and water separation occurs within the double-piped column. Oil and water are allowed to enter the external pipe column but only water is allowed to exit the internal pipe column. The internal pipe column is designed to generate enough hydrostatic pressure to ensure the oil is contained in the external pipe column.The hydraulic oil control system provides a reliable control mechanism and requires less maintenance compared to that of the electrical control system. Since the hydraulic oil control system has no moving parts, nor would any parts that require electricity, it is not affected by electrical surges such as lightening.The maintenance requirements of the hydraulic oil control system are: the removal of any oil and grit from the catch basin, and the occasional visual inspection for any crack or clogs in the system. (author)

  12. Viewpoint On the Climate Change Effects of High Oil Prices

    International Nuclear Information System (INIS)

    Vielle, M.; Viguier, L.

    2005-11-01

    Some commentators claim that the oil market has achieved within a few months what international bureaucrats have struggled to obtain in a decade of international climate negotiations. The fallacy of the oil price argument is that substitutions and income effects that would result from higher oil prices are not considered. Using a computable general equilibrium model, we show that high oil prices cannot serve as substitutes for effective climate policies.

  13. Treating oil in a maritime environment

    International Nuclear Information System (INIS)

    Seebacher, G.

    2002-01-01

    Some details of the International Maritime Organisation's marine pollution regulations are discussed. In simple terms, under IMO regulations oily water must be processed through approved equipment and can be legally discharged if the oil content in the treated effluent is less than 15 ppm. These regulations also make it clear that it is not permitted to use emulsifiers to hide the oil in the effluent. To separate the free oil from water, gravity enhanced separators can be used effectively. With conventional means it is possible to remove free oil from an oily water mixture, to the less than 15 part per million oil content. Conventional IMO certified oil content meters accurately read free oil content in the 0-30 ppm region, to prevent formation of an oil film from treated oily water discharges. Some additional basic rules of thumb worthy of consideration when separating oil from oily water: in general, it is cheaper to prevent oil discharge of oil into the effluent stream than to remove it; emulsifier-enriched lubricating oils emulsify readily and are difficult to remove when present in suspended droplets; the larger the amount of contamination, the greater the difficulty of removing the oil; an ounce of prevention is worth a pound of cure

  14. The Turkmens and their oil

    International Nuclear Information System (INIS)

    Roberts, John.

    1997-01-01

    Political, energy and economic policies are all still being formulated afresh in the newly independent country of Turkmenistan, since its withdrawal from the former Soviet Union. This paper explores how these policies will affect the production of oil. Exploitation of its hydrocarbon reserves is likely to be at the centre of economic development, and senior politicians, learning from the experience of neighbouring Azerbaijan, are understandably cautious about signing up with international oil companies. (UK)

  15. Oils; gas

    Energy Technology Data Exchange (ETDEWEB)

    Day, D T

    1922-09-18

    Oils and gas are obtained from shale or oil-bearing sand by immersing the shale in and passing it through a bath of liquid oil, cracking the oil-soaked shale, and condensing the vapor and using the condensate to replenish the bath, preferably by passing the gases and vapors direct into the oil-bath container. Shale is fed continuously from a hopper to a bath of oil in an inclined chamber, is carried to the outlet by a conveyer, and through cracking tubes to an outlet pipe by conveyers. The gases and vapors escape by the pipe, a part condensing in the chamber and a run-back pipe and replenishing the bath, and the remainder passing through a condensing tower and condenser connected to reservoirs; the gas is further passed through a scrubber and a pipe to the burner of the retort. The oil condensed in the chamber overflows to the reservoir through a pipe provided with an open pipe to prevent siphoning. The conveyers and a valve on the pipe are operated by gearing. The operation may be conducted at reduced, normal, or increased pressure, e.g., 70 lbs. The temperature of the retort should be about 900 to 1400/sup 0/F, that of the inside of the tubes about 550 to 700/sup 0/F, and that of the chamber about 300/sup 0/F. The chamber and pipe may be insulated or artificially cooled.

  16. Passive elimination of static electricity in oil industry

    Directory of Open Access Journals (Sweden)

    Gaćanović Mićo

    2014-01-01

    Full Text Available This study explains the existing and real conditions of a possible passive elimination of static electricity when loading oil and oil derivatives. We are considering the formation and survival of gas bubbles both in the volume of oil in its depth, but also at the surface of oil and oil derivatives of the partly filled reservoir, and formation of both volume and surface electric charge in oil and oil derivatives. The study presents the research of formation and survival of static electricity in both reservoirs and tank trucks of different geometric shapes partly filled with oil and oil derivatives. We are proposing a new original possibility of passive elimination of static electricity when loading oil and oil derivatives in reservoirs and tank trucks. The proposed passive device for elimination of static electricity is protected at the international level in the domain of intellectual property (with a patent, model and distinctive mark.

  17. Ex-USSR: Oil exporter or importer?

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    1993-01-01

    Political disintegration and economic perestroika in the former Soviet Union (FSU) have major international ramifications and some of these can be found in the oil sector. An overview is presented of the FSU oil industry, including the conditions preceding and following the breakup. Early effects of the breakup included shortages of liquid fuels and the introduction of a strict export quota and license system. The likelihood of disruptions in oil exports, caused by political clashes between Russia and the other oil-transporting republics is low. Rapid decentralization of the Soviet oil trade is likely to bring forth currency-starved national exporters that may add substantially to international market competition and further undercut unstable world oil prices. In the short term, the FSU oil industry will suffer from inevitable imbalances which will manifest themselves in regional oil shortages and gluts spreading towards neighbouring international markets. In the medium and longer term the cooperating parts will become more self-reliant or infrastructurally independent and will speed natural growth and integration into neighbouring petroleum markets. Crude oil and oil product balances of the FSU republics are presented. 2 refs., 2 figs., 7 tabs

  18. Oil refineries

    International Nuclear Information System (INIS)

    Boehmer, S.; Winter, B.

    2001-01-01

    In refineries in particular attention is paid to the minimization of the generation of waste. Therefor catalysts in many processes are regenerated, absorbents are recycled and oily by-products are re-refined or used as fuels. This study discusses the origin and utilization of by-products from the oil industry. The processing of crude oils causes by-products and waste resulting from the crude oil itself or from cleaning measures for water pre-treatment, effluent treatment and flue gas treatment. (author)

  19. National Assembly report on the bill authorizing joining the 2001 International Convention on Civil Liability for Bunker Oil Pollution Damage; Rapport fait au nom de la Commission des Affaires Etrangeres sur le Projet de Loi n.1792, autorisant l'adhesion a la convention internationale de 2001 sur la responsabilite civile pour les dommages dus a la pollution par les hydrocarbures de soute

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    This report first gives an overview of the progressive implementation of measures and international convention to prevent pollution by ships: the Oilpol convention (Convention for the Prevention of Pollution of the Sea by Oil), the Marpol convention (Marine Pollution), and the different international conventions on liability and compensation (International Convention on Civil Liability for Oil Pollution, International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea, convention on other damages). It also describes the French system to struggle against marine pollution. Then, it presents the main arrangements of the 2001 Convention (liability, mandatory insurance and certificate, and so on), expresses some reserves on the chosen arrangement, and comments the impact of this convention

  20. Economic dynamics of exporting countries and restructuring their oil industries

    International Nuclear Information System (INIS)

    De La Vega Navarro, A.

    1994-01-01

    The author analyses the re-organization of oil industries in exporting countries. The approach takes internal and external dynamics of these countries' economic crisis into account. It finally makes proposals with a view to a different consistency for the economic development of these countries. This could include a change from pure ''exporting countries'' to ''countries that (among other activities) export oil'' and which will not be conditioned by the incertitude of the international oil market. This in turn means that public oil companies will have to replace thinking in terms of oil rents and assume their industrial and productive role on both national and international levels. (Author). 21 refs., 1 tab

  1. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-11-01

    The International Petroleum Statistics Report presents data on international oil production, demand, imports, exports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1994; OECD stocks from 1973 through 1994; and OECD trade from 1984 through 1994.

  2. International petroleum statistics report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-10-01

    The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. Word oil production and OECD demand data are for the years 1970 through 1995; OECD stocks from 1973 through 1995; and OECD trade from 1985 through 1995.

  3. Peppermint Oil

    Science.gov (United States)

    ... T U V W X Y Z Peppermint Oil Share: On This Page Background How Much Do ... sheet provides basic information about peppermint and peppermint oil—common names, usefulness and safety, and resources for ...

  4. OIL BOND®

    Science.gov (United States)

    Technical product bulletin: this miscellaneous oil spill control agent is a solidifier used in cleanups. It absorbs and solidifies hydrocarbon spills on freshwater and saltwater or land applications. Ring spill with booms or pillows before treatment.

  5. Mineral oil

    International Nuclear Information System (INIS)

    Schult-Bornemann, Karl-Heinz

    2015-01-01

    The dominant theme in the world energy market was the fall in oil prices in 2014. From 115 US-$/bbl in June it dropped to below 50 US-$/bbl in January 2015. Thereby the shale oil revolution has had the strong impact on the global energy situation, to this point has been predicted for three years. Although no one could predict the exact height of the fall in oil prices, but with oil as a reserve currency for all other fuels, it has not only had an impact on the gas and coal prices, but other commodities, such as copper, have also yielded. About cause and effect, there is a lot of speculation - not all of which are supported by wisdom. [de

  6. Oil vaporizer

    Energy Technology Data Exchange (ETDEWEB)

    Dumontier, F

    1904-03-31

    An oil burner particularly applicable to heavy oils, composed essentially of one or more gasification chambers, heated by the flame from the burners, to which the combustible gases are fed by the collectors suitably fixed on the chambers, all parts of the apparatus and especially the gasification chambers being easily demountable to permit cleaning, and all arranged in such a manner as to avoid fouling by reducing or localizing the deposition of solid deposits in the coking chamber.

  7. Oil on seawater

    International Nuclear Information System (INIS)

    Boerresen, J.A.

    1993-01-01

    The present book discusses the effects of oil spills at sea. Topics covered are as follow: Petroleum properties; oil spills at sea; harmfulness of oil spills; effects from acute oil spills; experience of oil spills; oil spill contingency planning in Norway; oil spill protecting equipment and methods; emergency of unloading equipment. 252 refs., 86 figs., 54 tabs

  8. Oil outlook to 2020

    International Nuclear Information System (INIS)

    Shihab-Eldin, A.; Lounnas, R.; Brennand, G.

    2001-01-01

    The OPEC Conference in 2000 developed a price band target of 22-28 US dollars per barrel for the Basket of OPEC crudes, in a bid to stabilise prices. This decision was made in the wake of a 12-month period that had seen tremendous fluctuations, with prices ranging from below 10/b US dollars to above 30/b US dollars. It was expected that the identification of the new price band would play a major role in stabilising oil prices, to the benefit of both producer and consumer. The assessment of potential medium-to-long-term prospects for the oil market, contained herein, are intimately related to these important developments in international oil markets, as well as our understanding of evolving fundamentals. Part 1 of this article, developed using OPEC's World Energy Model (OWEM), describes the reference case. From the demand side, a detailed analysis of both economic growth and intensity movements is used to project the growth of oil demand that can reasonably be expected over the next two decades. A resource-based approach is used to determine feasible longer-term production, utilising the latest data made available last year by the US Geological Survey. The rest of the article deals with various scenarios. The price scenario section considers the impact of high prices, beyond 30/b US dollars, and questions their sustainability. The next section deals with tax scenarios, and shows the extent to which oil demand has been reduced by historical developments in oil product taxation. Finally, a slow growth scenario explores the implications of a pessimistic view of economic growth over the coming years. (author)

  9. Developing new markets for oil sands products

    International Nuclear Information System (INIS)

    Crandall, G.

    2004-01-01

    This paper presents a review by Purvin and Gertz of western Canadian crude oil supply. This energy consulting firm provides advise to the energy sector. It suggests that oil sands production will surpass declining conventional production. Oil sands supply includes bitumen, synthetic crude oil (SCO), and diluent. It is forecasted that oil sands will increase from 42 per cent of western supply in 2002 to 78 per cent in 2015. The potential of Alberta's oil sands was discussed along with a recent study of refined products and petrochemicals from bitumen. Upgrading, refining and petrochemical case studies were presented. The author examined if a Canadian oil sands upgrading project with high capital costs can be competitive with competing projects in the United States and internationally. In addition to supply and demand issues, the presentation examined infrastructure capability and market potential in the United States. The economic potential and risks of preferred business cases compared to upgrading to SCO were also evaluated. 15 figs

  10. Do oil shocks predict economic policy uncertainty?

    Science.gov (United States)

    Rehman, Mobeen Ur

    2018-05-01

    Oil price fluctuations have influential role in global economic policies for developed as well as emerging countries. I investigate the role of international oil prices disintegrated into structural (i) oil supply shock, (ii) aggregate demand shock and (iii) oil market specific demand shocks, based on the work of Kilian (2009) using structural VAR framework on economic policies uncertainty of sampled markets. Economic policy uncertainty, due to its non-linear behavior is modeled in a regime switching framework with disintegrated structural oil shocks. Our results highlight that Indian, Spain and Japanese economic policy uncertainty responds to the global oil price shocks, however aggregate demand shocks fail to induce any change. Oil specific demand shocks are significant only for China and India in high volatility state.

  11. Oil supply on demand: Oil pumps in serial application; Bedarfsgerechte Oelversorgung: Regeloelpumpen im Serieneinsatz

    Energy Technology Data Exchange (ETDEWEB)

    Lamparski, C. [S H W Automotive GmbH und Co. KG, Bad Schussenried (Germany)

    2007-07-01

    Usually, constant displacement oil pumps are used for the oil supply of combustion engines. Gerotor, helical or spur gear pumps or vane pumps are the most common solutions. The disadvantage of the mentioned design is the oil delivery as function of pump speed, independent from the engine needs. Variability of oil delivery for reduction of hydraulic losses is the logical consequence. The first variable displacement oil pump which has fulfilled this requirement is the Internal Regulated Oil Pump (IRP). The mass production of this oil pump started in 2002. The solution for outer gear pumps and vane cells followed shortly. The following contribution gives a summary of different technical concepts for adjusting of oil delivery, beginning with pump pressure as a leading value till map regulation and its transformation in mass production products. (orig.)

  12. 33 CFR 151.10 - Control of oil discharges.

    Science.gov (United States)

    2010-07-01

    ... current International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) Circular...) POLLUTION VESSELS CARRYING OIL, NOXIOUS LIQUID SUBSTANCES, GARBAGE, MUNICIPAL OR COMMERCIAL WASTE, AND...

  13. 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)

  14. Dependence of the Internal Structure on Water/Particle Volume Ratio in an Amphiphilic Janus Particle-Water-Oil Ternary System: From Micelle-like Clusters to Emulsions of Spherical Droplets.

    Science.gov (United States)

    Noguchi, Tomohiro G; Iwashita, Yasutaka; Kimura, Yasuyuki

    2017-01-31

    Amphiphilic Janus particles (AJP), composed of hydrophilic and hydrophobic hemispheres, are one of the simplest anisotropic colloids, and they exhibit higher surface activities than particles with homogeneous surface properties. Consequently, a ternary system of AJP, water, and oil can form extremely stable Pickering emulsions, with internal structures that depend on the Janus structure of the particles and the system composition. However, the detail of these structures has not been fully explored, especially for the composition range where the amount of the minority liquid phase and AJP are comparable, where one would expect the Janus characteristics to be directly reflected. In this study, we varied the volume ratio of the particles and the minority liquid phase, water, by 2 orders of magnitude around the comparable composition range, and observed the resultant structures at the resolution of the individual particle dimensions by optical microscopy. When the volume ratio of water is smaller than that of the Janus particles, capillary interactions between the hydrophilic hemispheres of the particles induce micelle-like clusters in which the hydrophilic sides of the particles face inward. With increasing water content, these clusters grow into a rodlike morphology. When the water volume exceeds that of the particles, the structure transforms into an emulsion state composed of spherical droplets, colloidosomes, because of the surface activity of particles at the liquid-liquid interface. Thus, we found that a change in volume fraction alters the mechanism of structure formation in the ternary system, and large resulting morphological changes in the self-assembled structures reflect the anisotropy of the particles. The self-assembly shows essential commonalities with that in microemulsions of surfactant molecules, however the AJP system is stabilized only kinetically. Analysis of the dependence of the emulsion droplet size on composition shows that almost all the

  15. Ulrike Freitag: Indian Ocean, Migrants and State Formation in Hadhramaut. Reforming the Homeland. Ulrike Freitag & William Clarence-Smith : Hadhrami Traders, Scholars and Statesmen in the Indian Ocean, 1750s-1960s.

    Directory of Open Access Journals (Sweden)

    Jean Lambert

    2003-01-01

    Full Text Available Ulrike Freitag Indian Ocean, Migrants and State Formation in Hadhramaut. Reforming the Homeland Leyde / Boston, Brill, 2003 Ulrike Freitag & William Clarence-Smith (directeurs Hadhrami Traders, Scholars and Statesmen in the Indian Ocean, 1750s-1960s Leyde / New-York / Cologne, Brill, 1997 Le livre Indian Ocean, Migrants and State Formation in Hadhramaut nous présente l'histoire moderne du Hadramaout, du début du xixe siècle à la fin de la période britannique (1967, en parallèle avec...

  16. Myristica oil poisoning

    Science.gov (United States)

    Nutmeg oil; Myristicin ... Myristica oil ( Myristica fragrans ) can be harmful. It comes from the seed of a nutmeg. ... Myristica oil is found in: Aromatherapy products Mace Nutmeg Other products may also contain myristica oil.

  17. Oil investment in Latin America

    International Nuclear Information System (INIS)

    Kielmas, M.

    1994-01-01

    In the early 1990s Latin America became a favoured target for foreign investors as one of the side-effects of the collapse of communism in Eastern Europe and the Soviet Union. The reason is linked to macroeconomic reforms in Latin America and the failure of equivalent reforms in the former communist countries. Latin American state-owned-oil companies have been welcomed as borrowers on the international financial markets. Simultaneously private sector investment in the oil industry has increased. This chapter examines nationalisation and the state oil companies, the financing of the state sector, privatisation, the boosting of oil exploration and security issues. The sustainability of the economic reforms in the region is discussed. (UK)

  18. The oil companies in 1998

    International Nuclear Information System (INIS)

    Cueille, J.Ph.

    1999-01-01

    The drop in the price of crude oil has had a strong impact on oil companies earnings in 1998: for the first three-quarters, profits were down by an average 30 %. The performance levels attained by the refining-distribution activities, generally on a upwards trend, were not able to compensate for the sharp decrease in upstream earnings. Given these unfavorable circumstances, a number of companies are cutting back on capital investment projects. Unable to make further internal cost reductions on the same scale as before, oil companies are seeking to realize productivity gains through regional partnerships or large-scale mergers that, to some extent, could modify the traditional oil industry ranking

  19. Rainforests for palm oil?; Regenwaldopfer fuer Palmoel?

    Energy Technology Data Exchange (ETDEWEB)

    Dany, C.

    2007-07-02

    Environmentalists are all fired up as rainforests are cut down for palm oil production in south eastern Asia. An international certification system is to ensure sustainable production and save the rainforests. (orig.)

  20. Essential Oils and Fragrances from Natural Sources

    Indian Academy of Sciences (India)

    Essential oils should be subjected to both qualitative and quan- ... Several methods are employed in modern perfumery. A perfume is a ... Three types of hydro- ..... Applied Research, Proceedings of the 27th International Symposium on.

  1. Purifying oils

    Energy Technology Data Exchange (ETDEWEB)

    1930-04-15

    Gasoline, lamp oils, and lubricating or other mineral or shale oils are refined by contacting the vapor with a hot aqueous solution of salts of zinc, cadmium, or mercury, or mixtures thereof which may contain 0-5-3-0 percent of oxide or hydroxide in solution or suspension. Chlorides, bromides, iodides, sulfates, nitrates, and sulfonates of benzol, toluol, xylol, and petroleum are specified. Washing with a solution of sodium or potassium hydroxide or carbonate of calcium hydroxide may follow. The oil may first be purified by sulfuric acid or other known agent, or afterwards caustic alkali and sulfuric acid. The Specification as open to inspection under Sect. 91 (3) (a) describes also the use of salts of copper, iron, chromium, manganese, aluminum, nickel, or cobalt, with or without their oxides or hydroxides. This subject-matter does not appear in the Specification as accepted.

  2. Distilling oils

    Energy Technology Data Exchange (ETDEWEB)

    Leffer, L G

    1912-01-29

    In a process for converting heavy hydrocarbons, such as petroleum or shale oil, into light hydrocarbons by distilling under the pressure of an inert gas, the operation is conducted at a temperature not exceeding 410/sup 0/C and under an accurately regulated pressure, the gas being circulated through the still and the condenser by means of a pump. The oil in the still may be agitated by stirring vanes or by blowing the gas through it. Hydrogen, nitrogen, carbon dioxide, methane, or gases generated in the distillation may be used as pressure media; the gas is heated before its admission to the still. A pressure of from 11 to 12 atmospheres is used in treating gas oil. Specification 10,277/89 is referred to.

  3. California Conservation Corps trains youth to safely clean up oil spills

    International Nuclear Information System (INIS)

    Penn, P.

    1993-01-01

    Initiated in response to environmentally destructive crude oil spills, the California Conservation Corps (CCC) is trained to respond anywhere in California, and beyond. Corpsmembers are provided 32 hours of training to exceed both State and Federal Occupational Health and Safety Administration (OSHA) requirements for worker safety. The CCC responded to the Huntington Beach spill in 1990 and impressed both the private sector and government agencies with the high quality of work performed, the organization and discipline of the responders and the safe manner in which they approached the sensitive environmental cleanup. The program was begun with a $75,000 grant from BP America (British Petroleum), the owner of the oil in the American Trader incident. Following the passage of comprehensive oil spill legislation in California, the California Department of Fish and Game Office of Oil Spill Prevention and Response (OSPR) contracted with the CCC to provide 200 trained oil spill workers for beach cleanup. Subsequently, the Corps has responded along the California coast to a pipeline break at Avila Beach in San Luis Obispo County and cleaned up tar balls in the Monterey area

  4. 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

  5. Distilling oil shale

    Energy Technology Data Exchange (ETDEWEB)

    Crozier, R H

    1923-04-18

    In the fractional distillation of oils from oil shale and similar materials the charge is passed continuously through a vertical retort heated externally by hot combustion gases in flues and internally by the passage of these gases through flues passing through the retort so that zones of increasing temperature are maintained. A vapor trap is provided in each zone having an exit pipe leading through a dust trap to a condenser. The bottoms of the conical vapor traps are provided with annular passages perforated to permit of steam being sprayed into the charge to form screens which prevent the vapors in different zones from mingling, and steam may also be introduced through perforations in an annular steam box. Dampers are provided to control the passage of the heating gases through the flues independently.

  6. The price of fuel oil for power generation

    International Nuclear Information System (INIS)

    Hsu, G.J.Y.; Liaw, Y.Y.C.

    1987-01-01

    This study establishes a break-even analysis model for fuel oil generation. The authors calculate the break-even points of the international fuel oil prices for the existing coal-fired power plants, the nuclear power plants and the newly-built coal/oil-fired power plants

  7. Cerebral migration of intraocular silicone oil: an MRI study

    DEFF Research Database (Denmark)

    Kiilgaard, Jens Folke; Milea, Dan; Løgager, Vibeke

    2011-01-01

    for retinal detachment. Methods: Nineteen patients included in this study were referred for silicone oil removal after uncomplicated retinal detachment surgery using internal silicone oil tamponade. Patients with a previous history of intraocular silicone oil, glaucoma or optic pit were excluded. After...

  8. 77 FR 21748 - Oil and Gas Trade Mission to Israel

    Science.gov (United States)

    2012-04-11

    ... DEPARTMENT OF COMMERCE International Trade Administration Oil and Gas Trade Mission to Israel... Foreign Commercial Service (CS), is organizing an Executive-led Oil and Gas Trade Mission to Israel.... The purpose of the mission is to introduce U.S. firms to Israel's rapidly expanding oil and gas market...

  9. The oil industry in 2007

    International Nuclear Information System (INIS)

    2008-01-01

    The various contributions present and comment many data about the evolutions of different parts of the oil industry until 2007: world oil and gas markets, worldwide oil exploration and production, oil exploration and production in France, oil and oil-related industry in France, hydrocarbon supplies, oil refining in France, fuel quality, substitution fuels, inner transportation of oil products, storage of oil products, consumption of oil products, taxing of oils products, price of oil products, distribution of oil products

  10. The oil industry in 2006

    International Nuclear Information System (INIS)

    2007-01-01

    The various contributions present and comment many data about the evolutions of different parts of the oil industry until 2006: world oil and gas markets, worldwide oil exploration and production, oil exploration and production in France, oil and oil-related industry in France, hydrocarbon supplies, oil refining in France, fuel quality, substitution fuels, inner transportation of oil products, storage of oil products, consumption of oil products, taxing of oils products, price of oil products, distribution of oil products

  11. The fluctuations in oil prices in the OPEC countries and the impact on the world oil market

    Directory of Open Access Journals (Sweden)

    Buryanova N.V.

    2017-08-01

    Full Text Available the article examines the issues of influence of OPEC countries on the international oil market. Also, the author analyzes the state of the oil market and fluctuations in oil prices at the macroeconomic level for 2011–2016.

  12. Oil and Gas in the Arab world

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    The state of oil and gas production in each of twelve Arab states in 1996 is reviewed. A table of proved oil reserves and production in these countries as at the end of 1995 is provided. For Arab oil producers, 1996 was a good year in price terms. Crude oil was selling at an average of $3 a barrel more than in 1995. Factors contributing to prices rises were the increase in demand accompanying global economic growth, especially in the developing economies of Asia, which was not matched by supply growth, and the news that Iraq is unlikely to return to international markets in the near future. (UK)

  13. Ex-Soviet Union: oil exporter or importer

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    1993-01-01

    Perestroika of the Soviet economy and the political disintegration of the USSR have raised questions about the international ramifications of the ongoing economic and political developments in the world's largest oil-producing country. First of all, it relates to their impact on the quantity and quality of oil exports from the former Soviet Union (FSU). On the other hand, the opening of the national oil industry to foreign investors focuses their ever growing attention on the complicated internal, inter-republic oil issues which emerged after the sudden fragmentation of the Soviet oil empire into a dozen of sovereign but still interdependent parts. 1 fig., 7 tabs

  14. Coconut Oil

    Science.gov (United States)

    ... known as "medium chain triglycerides." Some of these fats work differently than other types of saturated fat in the body. When applied ... in food amounts. But coconut oil contains a type of fat that can increase cholesterol levels. So people should ...

  15. LINNAEUS OIL

    African Journals Online (AJOL)

    eobe

    Crude jatropha oil; Heterogeneous catalyst; Transesterification ... mmage for alternative fuel ... be designed to give higher activity and lifetimes [13]. So, the need for a cheap catalyst for biodiesel synthesis from no ... methanol (High Performance Liquid Chromatography ... ratio and were then charged into the glass reactor.

  16. Shares, gaps and the economy's response to oil disruptions

    International Nuclear Information System (INIS)

    Huntington, Hillard G.

    2004-01-01

    Most previous studies have focused on whether oil price shocks cause economic recessions but fewer studies have investigated whether the impact of an oil price shock can be different under alternative economic conditions. Using an international data set of industrialized economies, this paper explores whether an economy relying more on oil or operating closer to full employment may be more vulnerable to an oil disruption. Although the results for oil dependence are ambiguous, the analysis does find a significant relationship between the impacts of an oil shock and how closely the economy is operating to its full-employment level prior to the disruption. (Author)

  17. The potential of using vegetable oil fuels as fuel for diesel engines

    International Nuclear Information System (INIS)

    Altin, Recep; Cetinkaya, Selim; Yucesu, Huseyin Serdar

    2001-01-01

    Vegetable oils are produced from numerous oil seed crops. While all vegetable oils have high energy content, most require some processing to assure safe use in internal combustion engines. Some of these oils already have been evaluated as substitutes for diesel fuels. The effects of vegetable oil fuels and their methyl esters (raw sunflower oil, raw cottonseed oil, raw soybean oil and their methyl esters, refined corn oil, distilled opium poppy oil and refined rapeseed oil) on a direct injected, four stroke, single cylinder diesel engine performance and exhaust emissions was investigated in this paper. The results show that from the performance viewpoint, both vegetable oils and their esters are promising alternatives as fuel for diesel engines. Because of their high viscosity, drying with time and thickening in cold conditions, vegetable oil fuels still have problems, such as flow, atomisation and heavy particulate emissions. (Author)

  18. The potential of using vegetable oil fuels as fuel for diesel engines

    Energy Technology Data Exchange (ETDEWEB)

    Altin, Recep [Ministry of Education, Projects Coordination Unit, Ankara (Turkey); Cetinkaya, Selim [Gazi Univ., Technical Education Faculty, Ankara (Turkey); Yucesu, Huseyin Serdar [Karaelmas Univ., Technical Education Faculty, Karabuk (Turkey)

    2001-03-01

    Vegetable oils are produced from numerous oil seed crops. While all vegetable oils have high energy content, most require some processing to assure safe use in internal combustion engines. Some of these oils already have been evaluated as substitutes for diesel fuels. The effects of vegetable oil fuels and their methyl esters (raw sunflower oil, raw cottonseed oil, raw soybean oil and their methyl esters, refined corn oil, distilled opium poppy oil and refined rapeseed oil) on a direct injected, four stroke, single cylinder diesel engine performance and exhaust emissions was investigated in this paper. The results show that from the performance viewpoint, both vegetable oils and their esters are promising alternatives as fuel for diesel engines. Because of their high viscosity, drying with time and thickening in cold conditions, vegetable oil fuels still have problems, such as flow, atomisation and heavy particulate emissions. (Author)

  19. Oil spillage recovery by vacuum trawl

    International Nuclear Information System (INIS)

    Birkett, H.

    1992-01-01

    In this invention, floating oil is sucked from the surface of the sea under a skirt and into a tubular floating boom, along whose interior it is carried to water-oil separation means. The suction is produced by one or more ejectors which are supplied with sea water under pressure and may be located inside the boom, or immediately below it and connected into a separate pipe. The boom is used to enclose an oil slick and drawn tighter to increase the thickness of the oil layer. The oil enters the boom through holes in its upper half and then flows to the ejector(s) along separate internal tubes or between buoyancy balls. A fraction of the oil-water mixture withdrawn from the boom is pressurised and returned to ejector(s) and the rest is diverted to the separation means. (author)

  20. Proceedings of the CERI 2001 World Oil Conference. CD ed.

    International Nuclear Information System (INIS)

    2001-01-01

    The integration and expansion of world oil markets was the main topic of this conference which featured 23 presentations dealing with developments in the international energy sector. The conference was divided into 8 sessions entitled: (1) oil prices, (2) oil and politics, (3) global oil supply, (4) North American supply and markets, (5) global oil demand, (6) oil.com, (7) the business of the environment, and (8) oil and money. The outlook of world energy markets was reviewed with particular emphasis on prospects for oil supply and reserves. The current status of the petroleum industry in both OPEC and non-OPEC oil exporting countries was discussed with reference to exploration, production, reserves, and hydrocarbon potential. The environmental, and socio-economic challenges that both the upstream and downstream industry will face challenges in the next century were also described. refs., tabs., figs

  1. ANP's strategic regarding the government take considering the volumes of recoverable oil and the Brazilian attractiveness for upstream international investments; Estrategia da ANP quanto ao 'government take', considerando o volume recuperavel e a atratividade do Brasil para investimentos internacionais em 'upstream'

    Energy Technology Data Exchange (ETDEWEB)

    Motta, Regis [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Dept. de Engenharia Industrial; Margueron, Claudio [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Dept. de Geologia; Aquino, Thereza C.N. [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Escola Politecnica. Inst. de Geociencias

    2004-07-01

    This article discusses the Brazilian Petroleum Agency (ANP) strategy to boost the competitiveness of Brazil in attracting investments to the energy sector, analyzing it both technically and economically. The Campos basin, with its opportunities in heavy oil and deep water exploration, is used as a case study. Previous literature evaluated the economic potential of oil fields under different hypotheses for cost and price structures, reaching the conclusion that the fiscal regime of Brazil in 2000 was internationally competitive and the oil fields under investigation were attractive. This situation no longer applies. Some of the previous hypotheses are reviewed, using the creaming effect, which models both the diminishing success probabilities of drilling and volume levels as a given sedimentary basin approaches its mature stage of exploration. The main conclusion is that a reduction in the government take, lowering the fraction under ANP's control, would foster exploration and production in mature basins. Therefore, a large number of reserves with relatively small VOR's will become feasible, which are currently unattractive, given the hurdle rates observed by the international oil industry. (author)

  2. Addressing inadequate compensation | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2016-08-12

    Aug 12, 2016 ... The issue LSLAs raise a number of concerns regarding compensation, including ... at a meeting with traders in Lamu, Kenya, where a new port is planned. ... compensation and a fair share of benefits and risks in land deals.

  3. Medium-Term Oil Market Report 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    How much oil will the world consume in 2011? What role will OPEC play in global oil production? Will biofuels become an important part of the oil market? The International Energy Agencys (IEA) Medium-Term Oil Market Report tackles these questions, adopting a perspective that goes beyond the traditional short-term market analysis provided in the IEAs monthly Oil Market Report. Drawing on current futures curves and the investment threshold for upstream projects, the Medium-Term Oil Market Report analyses how global demand and supply balances may develop in the next five years. The forecasts look in detail at product demand and the supply potential from all the firmly planned individual upstream and downstream projects around the world. The results provide invaluable insights on vital issues such as surplus production capacity and product supply. The rapid pace of change in the oil market means that forecasts can become outdated very quickly. This interim update provides the opportunity to rebase the data and forecasts in the annual Medium-Term Oil Market Report and to discuss and analyse new issues affecting the oil industry. Policymakers, market analysts, energy experts and anyone interested in understanding and following trends in the oil market should find this report extremely useful.

  4. Competitiveness in the Brazilian oil industry. The Brazilian 'oil diamond'

    International Nuclear Information System (INIS)

    Zamith, R.; Moutinho Dos Santos, E.

    2000-01-01

    It is recognized the economic benefits that might follow the opening process of the Brazilian oil and natural gas industry, which shall experience a fast expansion with the arrival of national and international private investors. However, we should not neglect the broader impact of this process on the future development of all that cluster of national agents that lived around and served the former national oil monopoly, managed by the Brazilian National Oil Company, Petrobras. This work focuses on this larger perspective, discussing about the capacity of Brazil to sustain and expand its competitiveness in the oil business as well as to obtain the maximum economic development from the exploration of its oil and gas reserves. We adopt the work of Michael Porter, from the University of Harvard, about the Competitive Advantage of Nations, as a theoretical model to analyze the Competitive Advantage of Brazil in the global oil industry. By introducing the concept of ''oil diamond'', adapted from the notion introduced by this author, we develop a new understanding of national competitiveness in the oil sector. In this paper, we present the general model as well as a brief characterization of the results found for Brazil Subsequently, we focus on just one leg of the model, for which we discuss, with more detail, about the competitive condition of the country in the opening-up scenario. This leg regards the so-called supporting and supplementary industries that constitute what is denominated in the French tradition the ''para petroleum'' industry. We analyze the conditions for the Brazilian domestic ''para petroleum industry'' to survive and grow in the new competitive environment. (authors)

  5. China's oil market and refining sector

    International Nuclear Information System (INIS)

    Yamaguchi, N.D.; Fridley, D.G.

    2000-01-01

    The article assesses the future for China's oil industry as the country makes the transition from a command economy to an international market. China has one of the world's biggest oil industries and recent years have seen much growth in exploration and development, refining capacity and trade. China is more and more dependent on oil imports and is now a major international player; it has attracted much outside investment. Diagrams show (i) how coal dominates other sources of energy in China; (ii) crude production 1977-1998; (iii) how Middle East crudes now dominate Chinese crude imports; (iv) the growth of petroleum demand in China; (v) the Chinese demand for petroleum products; (vi) the growth in transport fuels; (vii) Chinese product imports: import ban targeted diesel; (viii) crude imports favoured over product imports and (ix) refinery capacity and throughput. The changes are expected to result in further integration into international markets, increased transparency and a healthier oil business

  6. Sector Modeling for the Prediction and Evaluation of Cretan olive oil

    NARCIS (Netherlands)

    Migdalas, A.; Baourakis, G.; Kalogeras, N.; Meriem, H.B.

    2004-01-01

    Greece is a major international olive oil producer. Olive oil varieties constitute the major crops for Greek farmers growing certain oriental olive oil varieties. Currently, the olive oil sector in Greece is undergoing substantial changes and the response of farmers and consumers to this will be a

  7. Imported resources - oil crude oil processing in the Czech Republic and its prospectives

    Energy Technology Data Exchange (ETDEWEB)

    Soucek, I.; Ottis, I. [Kaucuk, Kralupy nad Vitavou (Czechoslovakia)

    1995-12-01

    This paper examines the availability of various crude oils, addressing specifically crude oil pipelines to the Czech Republic, both existing and under construction. Secondly, the economic status of two main Czech refineries is examined in comparison to international trends, technical configurations, and product supply and demand.

  8. Extracting oils

    Energy Technology Data Exchange (ETDEWEB)

    Patart, G

    1926-03-15

    In the hydrogenation or extraction of by-products from organic substances at high temperatures and pressures, the gases or liquids, or both, used are those which are already heated and compressed during industrial operations such as exothermic synthesizing reactions such as the production of methanol from hydrogen and carbon monoxide in a catalytic process. Gases from this reaction may be passed upwardly through a digester packed with pine wood while liquid from the same catalytic process is passed downwardly through the material. The issuing liquid contains methanol, pine oil, acetone, isopropyl alcohol, and acetic acid. The gases contain additional hydrogen, carbon monoxide, methane, ethylene, and its homologs which are condensed upon the catalyser to liquid hydrocarbons. Petroleum oils and coal may be treated similarly.

  9. Oil and resource-backed aggression

    International Nuclear Information System (INIS)

    Colgan, Jeff

    2011-01-01

    A common misperception about oil politics is that it has a uniform, monolithic effect on policy development. This paper argues that in fact the net political effect of oil varies dramatically depending on the nature of the petrostate. It shows that oil income, when combined with revolutionary governments in petrostates, generates strong incentives for foreign policy aggression and international conflict. The aggressiveness of petro-revolutionary states is shown to have consequences in both military and economic spheres of international relations. Militarily, the aggressiveness of this type of state leads to a high rate of armed conflicts. Economically, the aggressiveness of petro-revolutionary states shapes global oil markets and international economic relations. The argument is tested using statistical analysis of international conflicts and economic sanctions. The policy implications are then considered, focusing on the negative global impacts of dependence on oil consumption. - Research highlights: → A radical reconsideration of the link between oil and international conflict is needed. → Resource-backed aggression, not resource-competition, is the major source of conflict. → Petro-revolutionary states instigate 250% more military conflicts than typical states. → Petro-revolutionary states are also more frequently targeted for economic sanctions.

  10. Oil Characteristics of Four Palestinian Olive Varieties.

    Science.gov (United States)

    Lodolini, Enrico Maria; Polverigiani, Serena; Ali, Saed; Mutawea, Mohammed; Qutub, Mayyada; Arabasi, Taysir; Pierini, Fabio; Abed, Mohammed; Neri, Davide

    2017-05-01

    Olive oil represents an important source of income for Palestinian farmers in local, national and international markets. Sometimes, olive oil produced in local climatic conditions, does not achieve the International Olive Council (IOC) trade standards so that international markets are precluded. The oil chemical composition and sensory profile of four Palestinian olive varieties (Nabali Baladi, Nabali Mohassan, Souri and K18) were characterized in 2010 throughout an in situ evaluation. Most of the physicchemical characteristics and the fatty acid composition of the varieties met the International Olive Council trade standards (IOC-TS) for extra virgin olive oils. Values of K 270 for Nabali Baladi and linolenic acid for Souri slightly exceeded the limit. Eicosanoic acid exceeded the IOC-TS limits in the oils of all considered varieties. Among the sterols, the Δ-7-stigmastenol resulted too high for Nabali Baladi and Souri. Sensory profile for the tested varieties showed a reminiscence of tomato or artichoke and light to medium bitter and pungent sensations. Results represent an important baseline reference for further studies about oil composition and quality of the main Palestinian olive germplasm and provide indication of potential critical points to be controlled in order to ensure the full achievement of IOC-TS and access international markets.

  11. Unconventional Liquids, Peak Oil and Climate Change

    Science.gov (United States)

    Hughes, J. D.

    2015-12-01

    Oil is the largest source of primary energy in the world, at 32% of 2014 consumption. Forecasts by the International Energy Agency suggest oil will continue to provide the largest share of global energy through 2040, even with new policies to mitigate greenhouse gas emissions. The IPCC's Representative Concentration Pathway (RCP) scenarios indicate that between 1.5 and 3.8 trillion barrels of oil will be burnt between 2015 and 2100. Various sources suggest that the world has 5 to 6 trillion barrels of remaining recoverable oil, more than half of which are in low grade deposits. Although oil sands and extra heavy oil are claimed to hold 1.5 trillion barrels, assessments of major deposits in the Canadian oil sands and the Venezuela Orinoco Belt, which hold the bulk of these resources, total less than 500 billion barrels of recoverable oil. Kerogen oil (oil shale), which has never been produced in anything but miniscule volumes, comprises an additional trillion barrels of these estimates. These unconventional deposits are very different from the conventional oil of the past as: - they are rate constrained, as they require massive upfront capital investments and lengthy construction periods, and therefore cannot be scaled up quickly in response to declines in conventional production. - they are expensive, both in terms of cost per barrel and the large energy inputs required for production. The best in situ oil sands deposits may yield an energy return of 3:1 and kerogen oil even less if it ever becomes commercially viable. This compares to 10:1 or more for conventional oil. Shale oil (light tight oil), may yield another 300 billion barrels worldwide, but suffers from high decline rates, expensive wells and limited availability of high quality deposits. The most productive and economically viable portions of these unconventional deposits tend to be exploited first, leaving the less productive, higher cost oil for later. As a result, increasing global oil consumption

  12. Senate report on the bill authorizing joining the 2001 International Convention on Civil Liability for Bunker Oil Pollution Damage; Rapport fait au nom de la commission des affaires etrangeres, de la defense et des forces armees (1) sur le projet de loi, Adopte par l'Assemblee Nationale, autorisant l'adhesion a la convention internationale de 2001 sur la responsabilite civile pour les dommages dus a la pollution par les hydrocarbures de soute

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    This report recalls the different texts concerning the law of the sea: United Nations Convention on the Law of the Sea (UNCLOS) of 1982 which was ratified by France in 1996, the International Convention on Civil Liability for Oil Pollution of 1992, the creation of the International Oil Pollution Compensation Funds, and the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by sea (HNS) in 1996. While evoking some recent examples of wrecks and pollutions and some already existing French and European initiatives, it describes the implications and consequences of this convention on the French law and for its enforcement, provided that this new treaty is designed to take bunker oil into account as it may induce a significant pollution of the marine environment

  13. Types of international petroleum contracts

    International Nuclear Information System (INIS)

    Katz, S.B.

    1992-01-01

    This paper reports on history and development of International Petroleum Contracts. The emphasis in petroleum exploration has steadily shifted away from the domestic oil patch and toward the international arena. Today an estimated 577.3 billion bbl, or approximately 83% of the world's proven oil reserves, lie outside the western hemisphere. The distribution of these proven oil reserves can be broken down into three major socioeconomic categories - developed market economies, centrally planned economies, and developing countries - indicating that fully 76.7% of the world's proven oil reserves occur in developing countries. As multinational oil companies come into contact with the various host countries around the world, their course of action, and the course of the host country's reaction to them, are unfortunately colored by events that proceeded the initial contact

  14. Norwegian oil and gas policy

    Energy Technology Data Exchange (ETDEWEB)

    Gjerde, B

    1978-04-01

    The Norwegian Minister of Oil and Energy explains the importance of integrating petroleum policy into the broad political picture because of Norway's economic situation. Since oil was found on the continental shelf 13 years ago, changes have been made in projected production levels to reflect the international recession and concerns over unemployment in Norway. Policies are aimed at keeping a constant activity in the petroleum sector through allocation of particular block development that will improve continental shelf mapping and encourage new deepwater exploration and development. He outlines licensing criteria and future exploratory activities. The report covers aspects of safety, transportation, and landing and the impacts of petroleum activities on Norwegian communities.

  15. Security drives Kuwait's oil shift

    International Nuclear Information System (INIS)

    Henderson, Simon

    1998-01-01

    With Kuwait considering allowing foreign investment in its upstream oil sector, political opposition remains at the parliamentary level. The internal debate between government ministers who favour the potential $7bn investment in their economy, and politicians concerned about foreign control of this essential national asset is described in this article. This politically volatile region, with its recent experience of the Iran/Iraq war, still maintains itself in readiness in case of invasion, and badly needs the foreign investment in order to raise current production levels because of low global oil prices. (UK)

  16. Oil sands development update

    International Nuclear Information System (INIS)

    1999-01-01

    A detailed review and update of oil sands development in Alberta are provided covering every aspect of the production and economic aspects of the industry. It is pointed out that at present oil sands account for 28 per cent of Canadian crude oil production, expected to reach 50 per cent by 2005. Based on recent announcements, a total of 26 billion dollars worth of projects are in progress or planned; 20 billion dollars worth of this development is in the Athabasca area, the remainder in Cold Lake and other areas. The current update envisages up to 1,800,000 barrels per day by 2008, creating 47,000 new jobs and total government revenues through direct and indirect taxes of 118 billion dollars. Provinces other than Alberta also benefit from these development, since 60 per cent of all employment and income created by oil sands production is in other parts of Canada. Up to 60 per cent of the expansion is for goods and services and of this, 50 to 55 per cent will be purchased from Canadian sources. The remaining 40 per cent of the new investment is for engineering and construction of which 95 per cent is Canadian content. Aboriginal workforce by common consent of existing operators matches regional representation (about 13 per cent), and new developers are expected to match these standards. Planned or ongoing development in environmental protection through improved technologies and optimization, energy efficiency and improved tailings management, and active support of flexibility mechanisms such as emission credits trading, joint implementation and carbon sinks are very high on the industry's agenda. The importance of offsets are discussed extensively along with key considerations for international negotiations, as well as further research of other options such as sequestration, environmentally benign disposal of waste, and enhanced voluntary action

  17. International Journal of Arts and Humanities (IJAH) Bahir Dar- Ethiopia

    African Journals Online (AJOL)

    DrNneka

    2016-01-12

    Jan 12, 2016 ... imperative to examine the history of Nigeria before 1914 and onwards through ..... the country is subject to the vagaries of the international oil market. This .... From Minority and Oil Rights Agitations to Militancy: Some thoughts.

  18. China Oil and Gas Market Assessment

    International Nuclear Information System (INIS)

    Qiu, Yu

    2004-08-01

    China, with one-fifth of the world's population and one of the fastest rates of economic growth, is experiencing a boom in its energy requirements. China has been identified as a high priority market for the oil and gas sector. This priority has resulted in the high level of investment and many large-scale projects related to the oil and gas industry. Oil production from existing fields is expected to increase, new oil and gas fields will be developed, and the country's oil and gas transmission infrastructure will be extended to meet domestic demands. In addition, total domestic investment needs for the next three decades till 2030 are estimated at around $119 billion, and upstream exploration and development will account for about $69 billion. China's oil and gas exploitation business has been the biggest beneficiary of the bearish crude oil prices, national oil stockpile and the need of infrastructure. In the first six-month period of 2005, this industry has gained a profit of USD16.5 billion, up 73.4 per cent year-on-year. The country is becoming increasingly open to international oil companies, contractors and equipment suppliers, who can bring advanced technology, equipment, and management experience. In this context, considerable opportunities in the supply and service sectors are open to Dutch companies. This report analyses the present situation and market prospect of China upstream oil and gas industry, including: Current status of Chinese oil and gas industry analysis and future development forecast; Potential customers analysis, such as three stated-owned oil companies and their foreign partners;Domestic and foreign competitors analysis; Potential opportunities and challenges analysis; Providing contacts and information on main ongoing oil exploration and development projects, and business practices

  19. Factors affecting world and Russian domestic oil prices: the domestic implications - a Russian perspective

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    2001-01-01

    This paper modestly aims at answering two formally related but unnecessarily interconnected questions about international and Russian domestic pricing of crude oil. The first of them is what, in our opinion, chiefly determines price dynamics of the contemporary world oil market. And the second one is in which way (if at all) world oil price dynamics affect Russia's internal market. (author)

  20. International oil and natural gas demand projections: an econometric model for 2008-2030; Projecao das demandas mundiais de petroleo e de gas natural: aplicacao de um modelo agregado para o periodo 2008-2030

    Energy Technology Data Exchange (ETDEWEB)

    Machado, Giovani; Aragao, Amanda; Valle, Ricardo Nascimento e Silva do [Empresa de Pesquisa Energetica (EPE), Rio de Janeiro, RJ (Brazil)

    2008-07-01

    This study forecasts the world oil and gas demands for 2008-2030 by applying econometric formulations. The basic variables are world GDP and Brent price. The forecast assumptions are: sound world economic growth remains, despite falling rates during the period; Brent prices continue high, but in a lower level, in 2006 constant prices, in harmony with Energy Information Administration reference scenario. Findings show that, should assumptions prove to be correct, world oil and gas demands will reach 118 million bbl/d and 5 trillion cubic meters in 2030, respectively. In other words, world oil demand will grow at 1.4% per year, while world gas demand will increase at 2.5% per year. Although such figures are similar to those from other institutions (EIA, IEA and OPEC), structural changes in oil and gas markets, catalyzed by high oil prices and energy and environmental policies, may reduce forecast strength of the specifications proposed. (author)

  1. Energy Globalization: Oil Geopolitics in Central Asia Big Race for the Caspian Oil

    OpenAIRE

    VOLKOVA, JANINA

    2007-01-01

    The research aims to show causal relations between recent global change in geopolitics towards energy resources, its effect on foreign policies of Russia, the USA and China; as well as the role of oil factor in their rivalry, development of the newly formed Central Asian (the Caspian region) states-donors and international relations in general . Globalization, geopolitics, oil factor, Russia, the USA, China, the Caspian Sea, international relations, Asia

  2. Economics of international energy security policy

    International Nuclear Information System (INIS)

    Paik, I.K.

    1992-01-01

    Because there is no inexpensive substitute for crude oil and petroleum products at the present time, an oil supply disruption inevitably leads to higher oil prices and economic losses. Wealth transfer to oil producing nations, reduced output increased unemployment and inflation. For these reasons, major oil-consuming countries currently have in place various oil emergency response measures to protect themselves from adverse economic consequences of oil supply disruptions: stockpiling emergency oil reserves to augment supplies, if necessary, in an emergency; and lowering oil demand through non-price mechanisms. The main purpose of this paper is to show that while, supply enhancement and demand reduction could have the same effect on oil prices in the event of an oil supply shortfall, they may have significantly different effects on the economies. Section I discusses the principal oil emergency response measures of the members of the International Energy Agency (IEA) -- emergency oil stockpiles and demand restraint -- and their policies for implementing the measures. Section II describes the analytical method used to perform comparative economic analysis of releasing emergency stocks and restraining demand in an oil emergency. Section III presents quantitative results of the analysis, and Section IV, conclusions of the analytical results and their energy security policy implications

  3. A critical review of IEA's oil demand forecast for China

    International Nuclear Information System (INIS)

    Nel, Willem P.; Cooper, Christopher J.

    2008-01-01

    China has a rapidly growing economy with a rapidly increasing demand for oil. The International Energy Agency (IEA) investigated possible future oil demand scenarios for China in the 2006 World Energy Outlook. The debate on whether oil supplies will be constrained in the near future, because of limited new discoveries, raises the concern that the oil industry may not be able to produce sufficient oil to meet this demand. This paper examines the historical relationship between economic growth and oil consumption in a number of countries. Logistic curve characteristics are observed in the relationship between per capita economic activity and oil consumption. This research has determined that the minimum statistical (lower-bound) annual oil consumption for developed countries is 11 barrels per capita. Despite the increase reported in total energy efficiency, no developed country has been able to reduce oil consumption below this lower limit. Indeed, the IEA projections to 2030 for the OECD countries show no reduction in oil demand on a per capita basis. If this lower limit is applied to China, it is clear that the IEA projections for China are under-estimating the growth in demand for oil. This research has determined that this under-estimation could be as high as 10 million barrels per day by 2025. If proponents of Peak Oil such as Laherrere, Campbell and Deffeyes are correct about the predicted peak in oil production before 2020 then the implications of this reassessment of China's oil demand will have profound implications for mankind

  4. International petroleum statistics report, October 1997

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-10-01

    The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1996; OECD stocks from 1973 through 1996; and OECD trade from 1986 through 1996. 4 figs., 48 tabs.

  5. Refining oils

    Energy Technology Data Exchange (ETDEWEB)

    Dunstan, A E

    1921-05-12

    The desulfurization of liquid hydrocarbons, such as kerosene, ligroin, or shale oil, by treatment with alkaline hypochlorite, such as sodium hypochlorite with free alkali is preceded, followed or both preceded and followed by treatment with alkali. The treatment may be effected in a vessel in which brine is being electrolyzed for the production of sodium hypochlorite, and the temperature may be raised to say 120/sup 0/F. The product may be filtered through animal charcoal, fuller's earth, dehydrated alumina, or other adsorbent substance.

  6. Guatemala: World Oil Report 1991

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    This paper reports that government officials have been working on changes to the hydrocarbon law to make it easier for operators to explore. In a reform effort, Minister of Energy and Mines Carlos Hutarte brought a new staff dedicated to spurring oil development into office with him. This includes the Directorate of Hydrocarbons, which held a three-day seminar in Dallas, Texas, to acquaint U.S. firms with new policies. Only one company, Basic Resources International, has been operating in Guatemala over the last year. The firm drilled three onshore wells in 1990 for 16,499 ft, including one oil producer. Two further onshore wells are slated this year. Oil production from 14 active wells out of 16 capable averaged 3,943 bpd, up 8.4% from 1989. Reserves are 191 MMbbl

  7. The dynamics of crude oil price differentials

    International Nuclear Information System (INIS)

    Fattouh, Bassam

    2010-01-01

    Crude oil price differentials are modelled as a two-regime threshold autoregressive (TAR) process using the method proposed by Caner and Hansen [Caner, M., Hansen, B.E. Threshold autoregression with a unit root. Econometrica 2001; 69; 1555-1596.]. While standard unit root tests suggest that the prices of crude oil of different varieties move closely together such that their price differential is stationary, the TAR results indicate strong evidence of threshold effects in the adjustment process to the long-run equilibrium. These findings suggest that crude oil prices are linked and thus at the very general level, the oil market is 'one great pool' (Adelman, M.A. International oil agreements. The Energy Journal 1984; 5; 1-9.). However, differences in the dynamics of adjustment suggest that within this one pool, oil markets are not necessarily integrated in every time period and hence the dynamics of crude oil price differentials may not follow a stationary process at all times. Although the development of a liquid futures market around the crude oil benchmarks has helped make some distant markets more unified, arbitrage is not costless or risk-free and temporary breakdowns in the benchmarks can lead to decoupling of crude oil prices. (author)

  8. Wash-oil problem

    Energy Technology Data Exchange (ETDEWEB)

    Chlosta, J

    1941-01-01

    Meier-Grolman and others have deduced from experimental studies of the vapor pressure of solutions of benzene in paraffin oil and Solway oil-paraffin oil mixtures that the higher the proportion of aliphatic compounds in a wash oil, the less suitable it is for benzene scrubbing. This generalization is not supported. Paraffin oils from brown-coal tar and low viscous oils from the Fischer-Tropsch hydrocarbon synthesis process are both being successfully used for benzene scrubbing.

  9. Oil trading manual

    International Nuclear Information System (INIS)

    Long, D.

    1995-01-01

    This manual provides basic information on all aspects of oil trading. Topics reviewed in Part 1 include physical characteristics and refining and oil pricing arrangements. Part 2 on instruments and markets contains chapters on crude oil markets, product markets, forward and futures contracts, forward paper markets, oil future exchanges, options, swaps and long term oil markets. Part 3 deals with administration and has chapters on operations and logistics, credit control, accounting, taxation of oil trading, contracts and legal and regulatory issues. (UK)

  10. Report of the work-group on oil price volatility

    International Nuclear Information System (INIS)

    2010-01-01

    This report proposes a detailed analysis of the past and possible evolution of oil markets in terms of price volatility, financial strategies and pricing. It discusses current reflections and actions aiming at improving oil market operation: the Joint Oil Data Initiative or JODI for oil data transparency, the works of the International Energy Forum (IEF), and the conceivable reforms of the oil financial markets. Then, it proposes and discusses four main strategic orientations for a better knowledge of oil markets by France and the improvement of their operation and transparency: to support IEF initiatives, to apply to oil financial markets the global orientations defined by the G20, to set additional specific rules, and to propose a true oil strategy for the European Union. These orientations are then broken up in 22 propositions

  11. Militancy in the Niger Delta and the Deepening Crisis of the Oil ...

    African Journals Online (AJOL)

    2014-11-21

    Nov 21, 2014 ... of worry and concern to all the strategic stakeholders within and outside the. Nigerian economy. .... government in cahoots with Shell ordered the notorious Nigeria Mobile Police .... of oil on the international oil market. Various ...

  12. SOVENT BASED ENHANCED OIL RECOVERY FOR IN-SITU UPGRADING OF HEAVY OIL SANDS

    Energy Technology Data Exchange (ETDEWEB)

    Munroe, Norman

    2009-01-30

    With the depletion of conventional crude oil reserves in the world, heavy oil and bitumen resources have great potential to meet the future demand for petroleum products. However, oil recovery from heavy oil and bitumen reservoirs is much more difficult than that from conventional oil reservoirs. This is mainly because heavy oil or bitumen is partially or completely immobile under reservoir conditions due to its extremely high viscosity, which creates special production challenges. In order to overcome these challenges significant efforts were devoted by Applied Research Center (ARC) at Florida International University and The Center for Energy Economics (CEE) at the University of Texas. A simplified model was developed to assess the density of the upgraded crude depending on the ratio of solvent mass to crude oil mass, temperature, pressure and the properties of the crude oil. The simplified model incorporated the interaction dynamics into a homogeneous, porous heavy oil reservoir to simulate the dispersion and concentration of injected CO2. The model also incorporated the characteristic of a highly varying CO2 density near the critical point. Since the major challenge in heavy oil recovery is its high viscosity, most researchers have focused their investigations on this parameter in the laboratory as well as in the field resulting in disparaging results. This was attributed to oil being a complex poly-disperse blend of light and heavy paraffins, aromatics, resins and asphaltenes, which have diverse behaviors at reservoir temperature and pressures. The situation is exacerbated by a dearth of experimental data on gas diffusion coefficients in heavy oils due to the tedious nature of diffusivity measurements. Ultimately, the viscosity and thus oil recovery is regulated by pressure and its effect on the diffusion coefficient and oil swelling factors. The generation of a new phase within the crude and the differences in mobility between the new crude matrix and the

  13. Converting heavy oils into light oils, etc

    Energy Technology Data Exchange (ETDEWEB)

    Mony, H

    1915-12-22

    A process is described for transforming heavy oils obtained by the carbonization of lignites, peats, coals, shales into light oils, and also the heavy oils of mineral and vegetable origin, consisting of heating the heavy oils or tars in the presence of one or more solid substances or liquids suitably chosen to cause the distillation of the oils under atmospheric pressure at an appropriate temperature; solid and liquid substances which favor the production of light products under the influence of heat being added preferably to the oil to be treated before putting it in the retort and before heating, so that light oils are obtained by treatment of the heavy oils in a single operation.

  14. USSR: World Oil Report 1991

    International Nuclear Information System (INIS)

    Hovring, M.

    1991-01-01

    This paper reports that due to its lack of technology, the Soviet Union will have to double the number of wells it drills in the next five years in order to maintain today's oil output. It has been estimated that more than 11,000 new wells will have to be drilled in 1992 because of the declines in reserves and productivity per well. The only problem with this is that the USSR does not have the required funds at present. The Soviet Government has agreed to a 25-billion-rouble ($46 billion) cash injection for the oil industry to halt declining production. The USSR will need to find major new deposits to develop. There is oil in the exceptionally difficult geological conditions in Soviet central Asia and northern Siberia. However, the oil is located in hundreds of small fields. The only solution is to let international oil companies take part in development of production of these fields in order to raise the standard of technology employed

  15. Exports of crude oil, 1988

    International Nuclear Information System (INIS)

    1989-06-01

    Effective June 1, 1985, licensing and charging of oil exports ended. The Board now issues export orders specifying neither volumes nor prices and covering an exportation period of up to 1 year for light crude oil and up to 2 years for heavy crude oil, available on request to both Canadian and foreign companies. The Board has assumed a monitoring role, and export prices and volumes are reported monthly by exporters. This annual report provides a review of the volumes and prices associated with the supply and disposition of Canadian crude oil during 1988. Highlights are given with detailed information on prices, both internationally, in Canada, and the Chicago posted price by light or heavy crude, and on volumes including capacity and disposition in both domestic and export markets. A short description of the import market is included. Comparisons are made with the previous year. Export volumes of light crude oil in 1988 increased by 13% to average 50,200 m 3 /d. Export volumes of heavy crude also increased by ca 13% to 62,600 m 3 /d. 15 figs., 2 tabs

  16. Vegetable oil spills : oil properties and behaviour

    International Nuclear Information System (INIS)

    Fingas, M.; Fieldhouse, B.; Jokuty, P.

    2001-01-01

    In 1997, the United States Environmental Protection Agency conducted a thorough review of the issue regarding vegetable oil spills. Recent attention has refocused on this issue as a result of an incident where 20 tons of canola oil was spilled in the Vancouver Harbour in 2000. In the past, vegetable oils were suggested to be a useful test material because they were thought to be innocuous. It was even suggested they be used to remove petroleum oil residues from beaches. However, recent studies have shown that spills of vegetable oils can have major environmental consequences, equivalent to those of petroleum oil spills. The spills have devastating effects on birds and intertidal organisms. This paper presented a summary of historical vegetable spills from around the world. In this study, specific behaviour tests were examined for several oils including canola, soy bean, olive, castor and corn oils. Evaporation, water-in-oil emulsification and chemical dispersion were measured and were found to be nearly zero, suggesting that vegetable oil spills are not very soluble in water. The aquatic toxicity of vegetable oil is low, but their fate is quite different from petroleum. Vegetable oils do not evaporate to a significant degree, they do not form water-in-oil emulsions, nor do they disperse in water. The physical properties of vegetable oils were also measured, including density and viscosity. This paper presented the aquatic toxicity of several vegetable oils along with other environmental data including the degradation rates noted in the literature. Most environmental damage reported in the literature is by contact with birds feathers resulting in hypothermia and secondly by smothering of intertidal organisms. The effect of vegetable oil on fish has not been well studied, but it is expected that there will be little destructive effect except where smothering can occur. 35 refs., 3 tabs

  17. Vegetable oil spills : oil properties and behaviour

    Energy Technology Data Exchange (ETDEWEB)

    Fingas, M.; Fieldhouse, B.; Jokuty, P. [Environment Canada, Ottawa, ON (Canada). Emergencies Science Div

    2001-07-01

    In 1997, the United States Environmental Protection Agency conducted a thorough review of the issue regarding vegetable oil spills. Recent attention has refocused on this issue as a result of an incident where 20 tons of canola oil was spilled in the Vancouver Harbour in 2000. In the past, vegetable oils were suggested to be a useful test material because they were thought to be innocuous. It was even suggested they be used to remove petroleum oil residues from beaches. However, recent studies have shown that spills of vegetable oils can have major environmental consequences, equivalent to those of petroleum oil spills. The spills have devastating effects on birds and intertidal organisms. This paper presented a summary of historical vegetable spills from around the world. In this study, specific behaviour tests were examined for several oils including canola, soy bean, olive, castor and corn oils. Evaporation, water-in-oil emulsification and chemical dispersion were measured and were found to be nearly zero, suggesting that vegetable oil spills are not very soluble in water. The aquatic toxicity of vegetable oil is low, but their fate is quite different from petroleum. Vegetable oils do not evaporate to a significant degree, they do not form water-in-oil emulsions, nor do they disperse in water. The physical properties of vegetable oils were also measured, including density and viscosity. This paper presented the aquatic toxicity of several vegetable oils along with other environmental data including the degradation rates noted in the literature. Most environmental damage reported in the literature is by contact with birds feathers resulting in hypothermia and secondly by smothering of intertidal organisms. The effect of vegetable oil on fish has not been well studied, but it is expected that there will be little destructive effect except where smothering can occur. 35 refs., 3 tabs.

  18. Biochemically enhanced oil recovery and oil treatment

    Science.gov (United States)

    Premuzic, Eugene T.; Lin, Mow

    1994-01-01

    This invention relates to the preparation of new, modified organisms, through challenge growth processes, that are viable in the extreme temperature, pressure and pH conditions and salt concentrations of an oil reservoir and that are suitable for use in microbial enhanced oil recovery. The modified microorganisms of the present invention are used to enhance oil recovery and remove sulfur compounds and metals from the crude oil.

  19. Petroleum biodegradation and oil spill bioremediation

    International Nuclear Information System (INIS)

    Atlas, R.M.

    1995-01-01

    Hydrocarbon-utilizing microorganisms are ubiquitously distributed in the marine environment following oil spills. These microorganisms naturally biodegrade numerous contaminating petroleum hydrocarbons, thereby cleansing the oceans of oil pullutants. Bioremediation, which is accomplished by adding exogenous microbial populations or stimulating indigenous ones, attempts to raise the rates of degradation found naturally to significantly higher rates. Seeding with oil degraders has not been demonstrated to be effective, but addition of nitrogenous fertilizers has been shown to increase rates of petroleum biodegradation. In the case of the Exxon Valdez spill, the largest and most thoroughly studied application of bioremediation, the application of fertilizer (slow release or oleophilic) increased rates of biodegradation 3-5 times. Because of the patchiness of oil, an internally conserved compound, hopane, was critical for demonstrating the efficacy of bioremediation. Multiple regression models showed that the effectiveness of bioremediation depended upon the amount of nitrogen delivered, the concentration of oil, and time. (author)

  20. Potential Development Essential Oil Production of Central Java, Indonesia

    Science.gov (United States)

    Alighiri, D.; Eden, W. T.; Supardi, K. I.; Masturi; Purwinarko, A.

    2017-04-01

    Indonesia is the source of raw essential oil in the world. Essential oils are used in various types of industries such as food and beverage, flavour, fragrance, perfumery, pharmaceuticals, and cosmetics. However, the development of Indonesian essential oil industry has not been encouraging for the production of essential oils, further it is unable to meet global demand. Besides that, the quality of volatile oil resulted cannot meet the international market standards. Based on the facts, the potential of Indonesian essential oils needs to be developed to provide added value, through increased production, improved quality and product diversification. One part of Indonesia having abundant of raw essential oil source is Central Java. Central Java has the quite large potential production of essential oils. Some essential oils produced from refining industry owned by the government, private and community sectors include cananga oils (Boyolali district), clove oils (Semarang district), patchouli oils (Brebes district, Pemalang district, and Klaten district). The main problem in the development of plants industries that producing essential oil in Central Java is low crops production, farming properties, quality of essential oils are diverse, providing poor-quality products and volatile oil price fluctuations. Marketing constraints of Central Java essential oils are quite complex supply chain. In general, marketing constraints of essential oils due to three factors, namely the low quality due to type of essential oil business that generally shaped small businesses with different capital and technology, domestic marketing is still a buyer-market (price determined by the buyer) because of weak bargaining position processors businessman, and prices fluctuate (domestic and foreign) due to uncontrolled domestic production and inter-country competition among manufacturers.

  1. Heat transfer characteristics of some oils used for engine cooling

    International Nuclear Information System (INIS)

    Abou-Ziyan, Hosny Z.

    2004-01-01

    This paper reports the results of an experimental investigation of heat transfer from a cast iron test specimen to engine oils under boiling conditions. The work is aimed at evaluating the thermal characteristics of some engine oils in contact with high temperature parts in internal combustion engines. Three mono-grade oils and two multi-grade oils are examined at heat fluxes from about 30 to more than 400 kW/m 2 for bulk temperatures of 40, 60, 80, 100, 125, 150 and 175 deg. C. The considered oils are analyzed and tested according to some ASTM standards to determine their additives concentration and to obtain some of their thermophysical properties. The results indicated that oil additives, oil properties and bulk temperatures have substantial effects on the oil characteristics. The boiling heat flux, for the best oil, rises by a factor of 1.65 as the bulk temperature decreases from 175 to 40 deg. C. The mono-grade oils produce superior heat transfer characteristics compared to those produced by multi-grade oils. The oil with the best additive concentrations produces boiling heat fluxes up to 4.44 times higher than those produced by some other oils. Comparing the results of the tested oils revealed that the oil that has the largest concentrations of boron, magnesium, phosphorus and zinc with low concentration of calcium yields the best heat transport characteristics among the other tested oils. These additives provide superior detergent and dispersant characteristics, reflected in the large alkalinity and low corrosivity of the oil. On the other side, calcium has a negative interaction with other additives and yields an adverse effect on heat transfer characteristics even when it exists in oil with large concentrations of boron, magnesium, phosphorus and zinc

  2. Continued slide seen for C.I.S. oil production

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that oil production in the Commonwealth of Independent States may dip to 7.7 million b/d next year. Robert Ebel of the Center for strategic and International Studies, Washington, D.C., made that prediction before a meeting of the National Association of Petroleum Investment Analysts. Oil and Gas Journal's latest worldwide oil production figures peg the C.I.S. volume at 8.689 million b/d last August. Ebel said a September decree will allow oil prices to move in line with the market and with costs of production. That in turn will lead to development of a deregulated domestic oil market

  3. Report on the oil and gas industry in 2011

    International Nuclear Information System (INIS)

    Venturini, Isabelle; Hesske, Philip; Welter-Nicol, Cecile; Korman, Bernard; Wermelinger, Elea; Gouge, Patrick; Balian, Armelle; Guichaoua, Sabine; Levaillant, Elise; Ripaux, Marion; Baumont, Thierry; Fondeville, Louis; Lamy, Jean-Michel; Delvincourt, Thibaud; Pertuiset, Thomas; Quintaine, Thierry; Miraval, Bruno; Cesari, Vartouhie

    2012-01-01

    Illustrated by several graphs and tables, this report first proposes an overview of international oil and gas markets and supplies: markets, exploration, challenges faced by European supplies, and French hydrocarbon imports. It comments oil exploration and production activities in France, refining activities and activities in the field of substitution fuels. The next part addresses the French oil and gas logistics: domestic transports of oil products, oil product storage infrastructures, strategic storage, and gas infrastructures. The last part addresses the final consumption: consumption, distribution, fuel quality, prices, and tax policy

  4. Prospects for non-OPEC oil supply

    International Nuclear Information System (INIS)

    O'Dell, S.

    1994-01-01

    An International Energy Agency forecast is provided of non-OPEC oil production over a 15-year horizon. Reference-case forecasts are derived from Hubbert-type resource models, official industry announcements about such matters as oil discoveries and development projects, and an oil industry consensus. Separate regional profiles are provided for North America, Europe, the former Soviet Union, and the rest of non-OPEC countries (South America, Asia, non-OPEC Middle East). Under a flat-price scenario ($18/bbl), total non-OPEC oil supply rises slightly from 41.4 million bbl/d (MBD) in 1995 to 41.9 MBD in 2010. Under a scenario in which prices rise to $28/bbl, oil supply rises to 47.5 MBD in 2010. The latter results depend on specific assumptions concerning economic growth, energy prices, the geological potential of some areas which are not yet well understood, technological advances, and the nature of political developments. Uncertainties regarding these assumptions are discussed, with reference to reserves, price responsiveness, world oil industry investment, technology, and costs. A major uncertainty is the issue of investment in the OPEC countries, since the rising-price scenario assumes that OPEC invests only reluctantly. If major OPEC producers choose to open their upstream sectors to international oil companies, the situation will change completely. Otherwise, oil markets are expected to continue to behave in the manner of the past 20 years, with highest-cost oil being developed first while cheaper oil remains in the ground. 8 refs., 10 figs., 3 tabs

  5. Hopane, a new chemical tool for measuring oil biodegradation

    International Nuclear Information System (INIS)

    Butler, E.L.; Douglas, G.S.; Steinhauer, W.G.; Prince, R.C.; Aczel, T.; Hsu, C.S.; Bronson, M.T.; Clark, J.R.; Lindstrom, J.E.

    1991-01-01

    The ability to determine the fate of spilled oil in the environment is critically dependent on an understanding of natural oil degradation processes. Immediately after an oil spill, physical weathering such as evaporation, dispersion and solubilization alter the chemical, physical, and toxicological properties of the spilled product. After this initial weathering, microbial degradation is the principal route for the eventual removal of oil from the environment. A joint Bioremediation Monitoring Program employed a novel approach in characterizing and quantifying the rate of oil biodegradation on selected beaches of Prince William Sound. Hopanes, a class of polycyclic alkanes that are water-insoluble and extremely resistant to biodegradation, were used as an internal oil reference to quantify the depletion of crude oil and its individual components in oiled beach sediments. The depletions of total oil and individual oil components were calculated relative to 30 percent depleted Prudhoe Bay crude oil, a reference material that approximates the composition of the spilled oil that landed on the beaches. In this paper, traditional weathering indicators such as C 18 /phytane, C 17 /pristane, and the aromatic weathering ratio were compared to the hopane oil degradation indicator

  6. Cost-effectiveness criteria for marine oil spill preventive measures

    International Nuclear Information System (INIS)

    Vanem, Erik; Endresen, Oyvind; Skjong, Rolf

    2008-01-01

    Oil tanker accidents resulting in large quantities of oil spills and severe pollution have occurred in the past, leading to major public attention and an international focus on finding solutions for minimising the risks related to such events. This paper proposes a novel approach for evaluating measures for prevention and control of marine oil spills, based on considerations of oil spill risk and cost effectiveness. A cost model that incorporates all costs of a shipping accident has been established and oil tanker spill accidents have been further elaborated as a special case of such accidents. Utilising this model, novel implementation criteria, in terms of the Cost of Averting a Tonne of oil Spilt (CATS), for risk control options aiming at mitigating the environmental risk of accidental oil spills, are proposed. The paper presents a review of previous studies on the costs associated with oil spills from shipping, which is a function of many factors such as location of spill, spill amount, type of oil, etc. However, ships are designed for global trade, transporting different oil qualities. Therefore, globally applicable criteria must average over most of these factors, and the spill amount is the remaining factor that will be used to measure cost effectiveness against. A weighted, global average cleanup cost of USD 16,000/tonne of oil spilt has been calculated, considering the distribution of oil tanker traffic densities. Finally, the criteria are compared with some existing regulations for oil spill prevention, response and compensation (OPA 90)

  7. IEA Response System for Oil Supply Emergencies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-12-15

    Emergency response to oil supply disruptions has remained a core mission of the International Energy Agency since its founding in 1974. This information pamphlet explains the decisionmaking process leading to an IEA collective action, the measures available -- focusing on stockdraw -- and finally, the historical background of major oil supply disruptions and the IEA response to them. It also demonstrates the continuing need for emergency preparedness, including the growing importance of engaging key transition and emerging economies in dialogue about energy security.

  8. Oil and gas in Papua New Guinea

    International Nuclear Information System (INIS)

    Owen, A.D.; Lattimore, J.C.

    1998-01-01

    This paper documents the current status of oil and gas reserves and production in Papua New Guinea. It then provides an assessment of future prospects for the industry in the context of both the international market for oil and gas and local constraints on the industry's growth. Finally, an estimate of the impact of the industry's development on the economy of PNG is presented. (author)

  9. Libya - the political economy of oil

    International Nuclear Information System (INIS)

    Gurney, J.

    1996-01-01

    This book aims to provide a broad description of the oil and gas sectors in Libya in the context of history, economic policy and international relations. The topics covered include: the development of the Libyan oil industry; the Libyan Petroleum Law of 1955 and subsequent amendments; production-sharing contracts; reserves and production; marketing and pricing before and after the Tripoli Agreement of 1971; refining in Libya and Europe; natural gas; petrodollar investments; possible future developments. (3 figures; 25 tables; 126 references) (UK)

  10. IEA Response System for Oil Supply Emergencies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-15

    Emergency response to oil supply disruptions has remained a core mission of the International Energy Agency since its founding in 1974. This information pamphlet explains the decisionmaking process leading to an IEA collective action, the measures available -- focusing on stockdraw -- and finally, the historical background of major oil supply disruptions and the IEA response to them. It also demonstrates the continuing need for emergency preparedness, including the growing importance of engaging key transition and emerging economies in dialogue about energy security.

  11. Alcorn wells bolster Philippines oil production

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that Alcorn International Inc., Houston, is producing about 16,500 b/d of oil from West Linapacan A field in the South China Sea off the Philippines. The field's current production alone is more than fivefold the Philippines' total average oil flow of 3,000 b/d in 1991. It's part of a string of oil and gas strikes off Palawan Island that has made the region one of the hottest exploration/development plays in the Asia-Pacific theater

  12. Black gold - The great history of oil

    International Nuclear Information System (INIS)

    Auzanneau, Matthieu

    2016-01-01

    The author proposes a history of the 20. century through that of oil. Oil was first a product for militarised societies based of a mechanised war (from the Secession war to the Vietnam war). The oil industry is also presented as a monopolistic, coercive and corrupted system, created by the Rockefeller who also influenced a change in capitalism. Other major actors emerged by the end of the century (J.P. Morgan, Citigroup). The author also outlines the role of some opponents to the Big Oil lobby (from Stalin to Kennedy). Thus, the author analyses and discusses the recent history of international relationships under the influence of oil: construction of the Suez canal, Sykes-Picot agreement, invasion of Ethiopia, creation of international organisations after 1945, overthrow of Mossadegh in Iran, death of Mattei, Biafra war, and so on. He also discusses and outlines the central role of the US-Saudi Arabia alliance which is based on fiscal tricks of majors, denial of democracy, and reinvestment of petrodollars. More recent events are discussed under the light of the influence of the oil industry: Iranian revolution, war in Afghanistan, war between Iraq and Iran, the reverse oil shock, US influence in the Middle-East

  13. International energy annual 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-12-01

    The International Energy Annual presents information and trends on world energy production and consumption for petroleum, natural gas, coal, and electricity. Production and consumption data are reported in standard units as well as British thermal units (Btu). Trade and reserves are shown for petroleum, natural gas, and coal. Data are provided on crude oil refining capacity and electricity installed capacity by type. Prices are included for selected crude oils and for refined petroleum products in selected countries. Population and Gross Domestic Product data are also provided.

  14. International energy annual 1995

    International Nuclear Information System (INIS)

    1996-12-01

    The International Energy Annual presents information and trends on world energy production and consumption for petroleum, natural gas, coal, and electricity. Production and consumption data are reported in standard units as well as British thermal units (Btu). Trade and reserves are shown for petroleum, natural gas, and coal. Data are provided on crude oil refining capacity and electricity installed capacity by type. Prices are included for selected crude oils and for refined petroleum products in selected countries. Population and Gross Domestic Product data are also provided

  15. International energy annual 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-02-01

    The International Energy Annual presents an overview of key international energy trends for production, consumption, imports, and exports of primary energy commodities in over 220 countries, dependencies, and areas of special sovereignty. Also included are population and gross domestic product data, as well as prices for crude oil and petroleum products in selected countries. Renewable energy reported in the International Energy Annual includes hydroelectric power, geothermal, solar, and wind electric power, biofuels energy for the US, and biofuels electric power for Brazil. New in the 1996 edition are estimates of carbon dioxide emissions from the consumption of petroleum and coal, and the consumption and flaring of natural gas. 72 tabs.

  16. After the Gulf crisis: The third oil shock is yet to come

    International Nuclear Information System (INIS)

    Criqui, P.

    1991-01-01

    The Gulf crisis had a major impact on world oil markets: for several months the flow of oil and the capacity to produce oil in the future in several key oil-producing countries were directly or indirectly threatened. A genuine oil shock was avoided because those who are involved in oil markets and in related international organizations maintained their composure. However, an examination of market fundamentals suggests that a return to strong dependence on supplies from the Gulf is probable during this decade if the price of oil does not rise sufficiently to bring about a growth trend in oil production by non-OPEC countries consistent with growth in world oil consumption. An analysis is presented of the oil price trends prior to, during and subsequent to the Gulf crisis, and two alternative scenarios are detailed for the year 2000: sustainable vs a third oil shock. 30 refs., 6 figs., 1 tab

  17. Oil imports and the US balance of payments

    International Nuclear Information System (INIS)

    Vance, D.H.

    1990-01-01

    An examination of the historical data for the US during a period of major swings in our oil import bill shows little continuing relationship to measures of our overall international balance. A look at other major oil importers all more dependent on imported oil than we will be even by the end of the century shows they handled similar wide swings in their oil import bills even while improving their international balances. Some, perhaps a major part, or our increased payments for oil imports is likely to return as payment for imports from us by the oil exporters. What seems more important is that we remain competitive in our export industries, and some measures suggested to reduce our oil imports, such as a unilateral US oil import tariff are likely to work against this competitiveness by raising oil and energy costs to our industries above those of our competitors. In terms of our international balances at least, the cures for rising oil imports are likely to be much worse than the disease

  18. International Trade. International Business

    OpenAIRE

    Мохнюк, А. М.; Mokhniuk, A. M.

    2015-01-01

    Work programme of the study course “International Trade. International Business” was prepared in accordance with educational and vocational training program for bachelors of training direction 6.030601 “Management”.

  19. Essays on oil and the macroeconomy

    Energy Technology Data Exchange (ETDEWEB)

    Melolinna, M.

    2012-07-01

    This dissertation studies the effects of crude oil on the macroeconomy using a vector autoregression (VAR) modelling framework. In particular, the importance of identifying different types of oil shocks is explored for both small and large open economies. A VAR model is also used to study the information content of oil futures contracts. The dissertation consists of three essays. The first essay of the dissertation introduces a methodology for identifying oil supply shocks in a small open economy. Financial market information is used to construct an identification scheme that forces the response to an oil shock of the VAR model to be the same as that implied by futures markets. Due to the identification scheme, the model is only partially identified, and confidence intervals for impulse responses are calculated by using a bootstrapping procedure. The methodology is applied in illustrative examples to two small open economies in a VAR model that includes key domestic and international macroeconomic variables. The results suggest that while oil supply shocks have had an effect on domestic inflation during recent past, the effect on domestic GDP is ambiguous. The second essay of the dissertation studies the existence of risk premiums in crude oil futures prices with simple ordinary least squares regression and Bayesian VAR models. It also studies the importance of three main theoretical risk premium models in explaining and forecasting the risk premiums in practice. Whilst the existence of the premiums and the validity of the models can be established at certain time points, it turns out that the choice of sample period has a considerable effect on the results. Hence, the risk premiums are highly time-varying. The study also establishes a model, based on speculative positions in the futures markets, which has some predictive power for future oil spot prices. The third essay of the dissertation explores oil market and other macroeconomic shocks in a structural VAR

  20. International petroleum statistics report, March 1998

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-03-01

    The International Petroleum Statistics Report is a monthly publication that provides current international oil data. This report is published for the use of Members of Congress, Federal agencies, State agencies, industry, and the general public. The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1996; OECD stocks from 1973 through 1996; and OECD trade from 1986 through 1996.