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Nigeria and the Oil Industry...?Nigeria and the Oil Industry Table of Contents Introduction 3 Trade Theory 3 Participation of Nigerian Oil Industry in International Trade 5 Globalisation and Regionalisation 6 Government Policies and Concerned Parties 6 The Role of International Institutions in the Oil Industry 7 References 9 Introduction Nigeria is known for its natural resources, particularly hydrocarbons. The nation is considered amongst the largest oil producing nations. The economy of the nation is highly dependent on its oil industry. It is observed that this sector contributes maximum amount in the economy of the...
5 Pages(1250 words)Essay
The Oil Industry...The oil industry
The oil industry is not a modern development. It traces back its history to ancient ages. The only problem that has necessitated changes pertains to refinery and exploitation of oil. The modern oil industry emanated from an invention by Colonel Edwin drake. It involved a steam-driven rig for drilling. This set up an expensive machine that most individuals could not be acquired. The only strategy was to harness resources for acquiring of such machines (Clo 6). The machines became more expensive to acquire as time progressed since the demand of oil necessitated very quality production. The...
6 Pages(1000 words)Essay
Nationalization of Oil Industry...Nationalization of Oil Industry The Argentinean President, Cristina Fernández de Kirchner has announced in mid that Argentina would take control of its biggest oil producer, YPF, from its Spanish owner, Repsol. This has created significant commotion in the international forum. Repsol has faced sharp losses owing to the unexpected expropriation of its Argentinean business. The amount of compensation to be paid by Argentina against its seizure of shares from the company is yet undecided. While nationalization of YPF is expected to act in favour of Kirchner financially and politically, greater concerns cloud around the future investment climate in the economy and its relationship with its...
7 Pages(1750 words)Essay
Nationalisation of Oil Industry...?Nationalisation of Oil Industry in Argentina Introduction Minder s that Argentina, like many other South American countries, is endowed with vast amounts of oil and gas reserves. Despite its potential, Argentina remains one of the countries that depend much on oil imports from other countries. Argentina is reported to have found itself in this unfortunate situation following the privatization of one of its largest oil and gas companies, YPF Oil and Gas Company, in the 1990s (Minder 2012). YPF was later on sold off to the Spanish company Repsol. However, Argentina has been forced recently to reverse its earlier decision to privatize the...
6 Pages(1500 words)Essay
Oil Industry...The Price and Output of Oil in the Next Five Years Organization of the Petroleum Exporting Countries (OPEC) is a cartel aimed at coordinating and unifying the petroleum policies that govern the member countries in ensuring stabilization of the markets of the oil so that they secure an economic, efficient and a constant supply of the petroleum to the consumers, a stable income to the producers and a good return on capital to the ones investing in petroleum industry (The Economist Newspaper Ltd, 2004, pp.8378-8381).
Demand and supply characteristics of oil
The market for the oil is very unusual. In the short-term, both the supply and demand are highly...
7 Pages(1750 words)Essay
The IOCs in the oil industry...The IOCs in the Oil Industry - How they Started International Oil industry is the main and one of the most important industries in the world. The history of its development goes back to the previous century when the first International Corporation emerged. The history of development of various corporations, as a rule, testifies, that the level of profit is a result of successful political strategy provided by the counties. It this case, it is possible to say that International Oil market is one of those markets which are closely connected and influenced by the changes in the world politics and strategies of a particular country dominated...
10 Pages(2500 words)Essay
Oil Industry Master Essay...in the last few years.
In the beginning of last century when oil was considered to be sufficient for world consumption, the economic growth was limited to a few countries. Most of the oil was imported to the highly developed countries of that time to fuel their industries and transportation etc and the consumption of oil was also limited as compared to present times. As the time passed, major changes in the world economy began to mark their presence. More and more countries entered the race of economic growth with certain prominent countries like the United States, Britain, and other European countries accelerated their economic growth. Barrell and Pomerantz also...
12 Pages(3000 words)Essay
Economic Indicators in the Oil Industry...America the population growth rate high, for example the population of Mexico is expected to grow by a cumulative 50% by the year 2030 (Whitbeck, 1999).
The last two economic indicators that will discuss are consumer consumption and the total housing and vehicle units in comparison with the population of the region. Consumer consumption helps determine if a particular marketplace spends its money in products and services or if the potential customers are savers. The desired state for a company in the crude oil industry is for the people to suffer from consumerism. The final economic metric is a customized metric that can be great value for petroleum industry. The total amount of homes...
2 Pages(500 words)Essay
Supply Chain of Oil Industry...How power relations shape and effect different actors in a supply chain of Oil industry
Introduction
It is apparent that logistics and supply chain has been very instrumental in success of many businesses across the globe. Most of the historic wars and other projects have been successful or have failed in regard to success of failure of supply chain. The strongest supply chain has been in the past been denoted as indispensable in determining the success of a business or any other undertaking. The defeat of the British army by the American counterparts was linked to the powerful supplies of weapons and troops to the American side. In the oil industry, supply chain is...
8 Pages(2000 words)Essay
Externalities in Business Economics and Oil Industry.... Consequently, the demand has continued to exceed the supply (Cashin, 2012, p.48).
Externalities in economics refer to effects the consumption of a product or service has to third parties. It is also known as spill-over (Hanson, 1974, p.39). The consumption of oil is known to have externalities in that it causes environmental pollution. The gases emitted by vehicles and from industries are known to be harmful to the environment. The pollution has resulted in diseases to human beings and has caused climatic changes. The changes in climate have had far reaching impacts on the society by causing droughts which have subjected people to poverty and hunger (Hidden costs of energy, 2010, p.70).
The government...
1 Pages(250 words)Essay
