Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Essay on oil industry in nigeria
Impact of oil on nigeria economy
Impact of oil on nigeria economy
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Essay on oil industry in nigeria
Analysis of Shell Petroleum Development Company of Nigeria
Name
Institution
Analysis of Shell Petroleum Development Company of Nigeria
Shell Petroleum Development Company of Nigeria (SPDC) is a multinational company based in Nigeria for the last 50 years dealing with petroleum products. Apart from offering exploitation and drilling of oil in Nigeria, shell has ventured in the power generation to serve the small and medium enterprises in Nigeria. The production of oil takes place in the Nile Delta region which stretches 30km2 where the company is working in 90 oil fields with a total of 1,000 oil wells. This paper provides a long term strategy that will ensure that the company will be able to expand and be able to withstand both social and political pressure
…show more content…
However the company is dealing with the spills by closely monitoring the pipelines and conduct timely repairs in case of oil spillage. There is a need to employ technology to ensure that the oil spills are detected as fast as possible to ensure that the pipelines are repaired on time. The company should consider developing newer pipelines that will be covered by concrete to discourage oil theft.
Long Term strategies
After analyzing the situation, there is a need for the company to invest in the local industry. The best idea is to invest in power generation. The strategy is to involve the company in power generation by scaling up the existing electricity production. Availability of the cheap power will not only support the current local businesses, but will also attract international investors. Also, the huge population of the country will ensure that the power generated is gets ready market. Additionally, the company deals with refining of oil destined for the international company. The gas produced in the refining process can be used to generate electricity rather than just selling the
"In terms of the production outlook for the oil sands over the next 10 years, it doesn't seem like that extra capacity is actually needed. " Nothing is going to happen right away or very soon. So, in the instance that the pipeline doesn’t work, the other companies will still be running. This means both things will still be used. This will cause competition for attention and/or tasks between the pipeline and existing companies.
In most ways people think that the pipeline industry is all for itself,and in its process it destroys the enviroment.In fact there are protests and riots happening often, to say the least.People also hop on the bandwagon saying that the industry should be protested for its safety hazards.In this paper I will explain how the industry takes every precaution to prevent environmental and personal harm and what they can actually do for you if the right of way runs through your land.
As an emergency response coordinator for a refinery it is vital to understand what hazards are associated with the products found in a crude oil refinery. Routine and non-routine maintenance will need to be done in order to maintain a working and operating oil refinery. This can create complicated situations or scenarios, because numerous contractors may be brought in for different repairs. This can lead to accidents in some cases because of the wide range of things going on in the refinery. Training and communication will be vital for a safe work environment with multiple entities working. Documentation of the training will also be crucial.
The Shell Oil Company involves a group of energy and petrochemicals companies that operate globally. Shell employs over 92,000 employees and operates in more than 70 countries and territories. Shell is considered a prominent gasoline provider, offering products that range from energy fuels, lubricants for businesses, and petrochemicals for detergents, packaging, carpets, and computers. The Shell corporation is also making strides to embrace renewable energies “by creating hybrid energies with traditional fuels such as natural gas” (Shell Global, n.d.). Shell is building hybrid power plants that combine renewable energies, including those produced by sun and wind, with traditional fuels. By investing in emission-free energies, Shell seeks to improve its operations and competitive posture as renewable technologies advance.
There are three exploratory oil rigs that have been drilling under contract for several years along the Angola coast. Each oil rig owned by a United States drilling company. The case study focuses on a small oil rig called the “Explorer IV” housing 180 staff, 30 of these being American expatriate workers or “Expat”, and the top administrator in authority regarding life on the rig is an Expat himself. The purpose of the oil rig’s purpose is for drilling oil and to house all of the staff drilling and operating the rig. The rig is approximately 200 feet by 100 feet so cramped and tight living spaces is to be expected. However, there is a difference in living quarters, quality of food, medical care, and means of transportation between the Angolan’s and the Expats.
“On March 23, 2005, at 1:20 pm, the BP Texas City Refinery suffered one of the worst industrial disasters in recent U.S. history. Explosions and fires killed 15 people and injured another 180, alarmed the community, and resulted in financial losses exceeding $1.5 billion.” (U.S. Chemical Safety and Hazard Investigation Board, 2007) There are many small and big decisions and oversights that led to the incident. Underneath all the specific actions or inaction is a blatant disregard for addressing safety violations and procedures that had been pointed out to BP even years before this event. The use of outdated equipment and budget cuts also contributed to the circumstances that allowed this accident to happen.
This paper describes equipment and techniques for responding to oil spills. Various techniques for the containment, cleanup and recovery of oil spills are examined; advantages and disadvantages of each are considered. Along with providing insight for oil spill response, this paper discusses environmental factors which can contribute to the success or failure of a cleanup operation.
Risk Management practices by Royal Dutch Shell plc Risk factors considered by Royal Dutch Shell plc Prices of oil, natural gas, oil products and chemicals are affected by supply and demand. Factors that influence these include operational issues, natural disasters, weather, political instability, or conflicts, economic conditions or actions by major oil-exporting countries. Price fluctuations can test our business assumptions, and can affect Shell’s investment decisions, operational performance and financial position. CURRENCY FLUCTUATIONS AND EXCHANGE CONTROLS As a global company, changes in currency values and exchange controls could affect our operational performance and financial position. ECONOMIC AND FINANCIAL MARKET CONDITIONS Shell companies are subject to differing economic and financial market conditions throughout the world. Political or economic instability affect such markets. If such a risk materialises it could affect our operational performance and financial position. TRADING AND TREASURY In the course of normal business activities, shell is subject to trading and treasury risks. These include among others exposure to movements in commodity prices, interest rates, and foreign exchange rates, counter party default and various operational risks Different risk faced by Royal Dutch shell Market risk Market risk is the possibility that changes in interest rates, currency exchange rates or the prices of natural gas, electrical power, crude oil, refined products, chemical feedstocks and environmental products will adversely affect the value of Shell’s assets, liabilities or expected future cash flows. Most of Shell’s debt is raised from central borrowing programmes. Shell has entered into interest rate swaps and currency swaps to effectively convert most centrally-issued debt to floating rate US dollar LIBOR (London Inter-Bank Offer Rate), reflecting its policy to have debt mainly denominated in US dollars and to have largely floating interest rate exposure profile. Consequently Shell is exposed predominantly to US dollar LIBOR interest rate movements. The financing of most subsidiaries is also structured on a floating-rate basis and, except in special cases; further interest rate risk management is discouraged. Based on the Consolidated Balance Sheet at December 31, 2007, the impact on net interest income/expense of a change in interest rates of 1% would not be significant. Foreign exchange risk The functional currency for most upstream companies and for other companies with significant international business is the US dollar, but other companies usually have their local currency as their functional currency. Foreign exchange risk arises when certain transactions are denominated in a currency that is not the entity’s functional currency.
Alternatively, the company may avert a hostile takeover by issuing further shares to a friendly company. While this strategy has been used in the past, the exercise of this strategy has been limited by the statute as well as courts.
The electrical power system in Benin is not that reliable. It’s not reliable because they have frequent black outs and it takes some time for the electricity to get back up and running. Nigeria is supposedly suppose to be exporting more electricity to the country so that schools, businesses, hospitals, homes and etc can be made available during the day and at night. If Nigeria does actually end up exporting the energy it would be a great thing for the company because it would be able to stay open at the hours it needs running.
...tner of this electricity plant. That will definitely decrease our profits and control but it will assure the constant power demand by these industries. Thus we can reduce our external threats through this step. These industrialists will also help financially in our expansion plan and give us better goodwill in the market.
The question to be answered in this paper is to what extent has the resource curse affected the Nigerian economy and government? Resource curse is a term that states the observation that countries that have a plethora of natural resources (e.g. oil, coal, diamonds etc.) usually have unstable political and economic structures (Sachs, 827). Nigeria is categorized as a nation that has succumb to the resource curse as it has an abundance of, and an overdependence on, oil, and a decreasing gross domestic product (GDP) (Samuels, 321-322). Nigeria is known for its specialization and overdependence on oil and according to Ross, nations of such nature tend to have high levels of poverty, large class gaps, weak educational systems, more corruption within the government, and are less likely to become democracies (Ross, 356). The political instability and regime change in Nigeria will be observed in this paper. The resource curse has greatly weakened Nigeria as it has led to the numerous regime changes, the hindering of the nation’s democratization, corruption in the government, as well as, civil conflict.
This paper will discuss the Oil conflict that is occurring in Nigeria. Discussed will be the types of power that the two feuding parties are using and whether their strategies have been effective as well as the influence they have had on the conflict. The contrasting cultural differences and similarities will be discussed as well. The conflict in Nigeria has turned deadly and a successful communication environment must be developed in order to restore peace to the region.
WOODSIDE PETROLEUM is the most wanted and Australian petroleum exploration and production company. Woodside has the largest operator of oil and gas production in Australia and also Australia’s largest independent dedicated oil and gas company.] It is a public company listed on the Australian Securities Exchange and has its headquarters in Perth, Western Australia Woodside Petroleum Limited (WPL) is an independent oil and gas company with a portfolio of liquefied natural gas trains, offshore platforms, oil floating production storage and off-loading vessels. WPL produces and sells LNG, pipeline gas, oil condensate and LPG, with ITS landmark Australian project being the North West Shelf. WPL also holds interests in operating assets located in Australia and overseas.
Ranked among the FORTUNE Global 500® largest corporations in the world, Petroliam Nasional Berhad, most commonly known as PETRONAS, is a Malaysian state-owned oil and gas company which ventures into a wide range of petroleum activities. Established in the year 1974, PETRONAS was incorporated alongside the enforcement of the Petroleum Development Act 1974 (Malaysian Explorer, 2012). Today, being owned entirely by the Malaysian government under the Ministry of Finance, PETRONAS is entrusted with the responsibility to manage the entire nation’s hydrocarbon resources (Rig Zone, 2013) and to ensure the sustainability and orderliness of the country’s oil and gas industry is prolonged.