Oil Production Companies Research Articles

Assessment of the Impact of Oil Production Processes on the Health of the Population of Oil-Producing Areas of the Irkutsk Region

Introduction. The state of the population health depends on the ecological and hygienic well-being of the territory. In places with developed oil production, there is a long-term impact of pollutants on the human body and, as a result, corresponding diseases develop. This is evidenced by numerous domestic and foreign studies, but the territory of the Irkutsk region is not covered by such studies. Therefore, the work objective is to assess the impact of oil production processes on the incidence of the population of oil-producing regions of the Irkutsk region.Materials and Methods. The source materials were the statistical indicators of overall and primary disease incidence of the population of the regions of the Irkutsk region for the period from 2016 to 2019, posted on the website of medical statistics of the Irkutsk region. For the calculation of the non-carcinogenic risk, we have used environmental monitoring data from an oil-producing company based on average daily concentrations of pollutants in oil-producing areas.Results. It is shown that oil-producing areas are characterized by extremely high incidence rates for such groups of diseases as respiratory diseases, diseases of the circulatory system, diseases of the musculoskeletal system, diseases of the digestive system, diseases of the genitourinary system, as well as deviations in pregnancy, childbirth and the postpartum period. Infant mortality rates in these territories are up to 4 times higher than the corresponding average indicators for the Irkutsk region as a whole. The calculation of non-carcinogenic risk showed an excess over the permissible values accepted in Russia.Discussion and Conclusions. The results of the analysis testify to the unfavorable medical and demographic situation in the territories under discussion. The pronounced excess of the incidence rate for the presented groups of diseases in the oilfield areas in comparison with the territories taken for comparison reflects the possible impact of environmental pollution on the health of the population. A connection between the growth of infant mortality in the territories under consideration and the beginning of the industrial development of hydrocarbon deposits in these places has been revealed. The contribution of oil companies to the socio-economic development of the regions, including co-financing of medical care for the population, could partially offset the negative impact of industrial processes.

An Analysis of Carbon-Reduction Pledges of U.S. Oil and Gas Companies

We study carbon-reduction pledges of publicly traded U.S. oil exploration and production (E&P) companies. Of the 69 firms in the sample, 18 have committed to net-zero carbon targets, 14 have announced significant emissions cuts, whereas the remaining 37 firms have not announced any formal commitment to reduce emissions. We find that a firm’s energy production and ownership by BlackRock is positively associated with its decision to announce a net-zero pledge or significant emission cuts. E&P firms are likely to announce such commitments after Engine No. 1 proposed its slate of directors for Exxon’s board. The stock market reacts more negatively to net-zero pledges relative to emission-reduction pledges on average. However, the market reaction is related to the quality and credibility of these pledges. In particular, we find that the negative market reaction to net-zero pledges is mainly driven by firms with post-2030 target years relative to firms that commit to achieving net zero by 2030. We also find that the market reacts more negatively to net-zero pledges when the firm does not show the strength of its commitment via the presence of a board-level committee to monitor the company’s progress toward its emission goals or when the top management’s pay is not linked to specific emission reduction goals. This paper was accepted by Ranjani Krishnan, accounting. Funding: The research was funded by Columbia Business School. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4765 .

CAUSES AND METHODS OF FREEING DIFFERENTIAL PIPE STUCK

One of the actual problems of the oil industry is to keep production rates under control and not allow it to fluctuate. In this respect, all oil and gas production companies have their own course of action strategy to maintain the pace of oil production. There are many factors such as injection wells, well workover and drilling new wells that may influence to keep the process afloat. All these aforementioned methods have sophisticated and long-lasted ways to complete them. In addition, it should be pointed out that drilling wells has many wellbore challenges like differential pipe sticking. If bottom hole assembly and drill pipes cannot be freed as well as pulled out of the well without exceeding the maximum permissible load on the hook of the drilling rig, then it is assumed to be stuck. Keywords: pipe sticking, differential stuck, free pipe, drilling fluid, contact area, mud cake.

POLYMERIC COMPOSITIONS TO INCREASE OIL RECOVERY

The issues of synthesis of the study of the physicochemical properties of the modified polyacrylamide in the presence of gossypol resin and formalin are considered in this work. This polymer composite is supposed to be used for enhanced oil recovery. It was established that the synthesized polymer reagent has fairly satisfactory stability at high (over 200°C) temperatures and formation water salinity. the prospect of increasing oil recovery through the use of a polymer composition is aimed at solving the problem of maximizing oil recovery from wells. These studies are aimed at solving the problems facing oil production and treatment companies.

Digital technologies in oil and gas production as a tool to ensure optimal energy efficiency and sustainability

Implementation of smart production technologies, digital technologies, and Industry 4.0 technologies in the oil production industry as a type of innovative management are indispensable tools for strengthening strategic, financial, and innovative sustainable development of enterprises operating in highly competitive domestic and foreign markets. Such technologies make it possible to adjust enterprise strategies promptly in real-time. All field digitalization solutions, operation of production units with any voltage and frequency level, heating, etc. are not workable without electric power. Electric motors of drilling rigs, downhole surfaces, and underground equipment use about 70 - 72% of all electricity consumed during oil and gas production. The authors give examples of energy-saving measures and the results of their implementation. Efficiency, energy conservation, and sustainable development are the challenges oil producers face today. The article considers strategic management in reality as a new trend in the sustainable development of oil production enterprises. Varying strategy in real time gives the oil-producing enterprises a general focus, individuality, daily simple actions, readiness to consider new ideas, and not being afraid to decide and take responsibility for them. The authors also analyzed the sustainable development strategies of the leading oil-producing companies in Russia. The article offers performance indicators for the sustainable development of oil and gas-producing companies.

Evaluation of Simulated Petroleum Hydrocarbon on the Physicochemical Properties of Soil

Petroleum hydrocarbon contamination of soils has become a global concern, which is often caused by anthropogenic activities, posing serious threat to all living beings. The study for evaluation of the variability of crude oil on the physicochemical characteristics of sandy loam soil was conducted at demonstration farm, Rivers state university, Port-Harcourt, Nigeria. The Bonny light crude oil was obtained from an oil and gas production company. Uncontaminated soil was mixed with crude oil. Standard procedures were adopted for the laboratory analysis, the parameters analyzed include bulk density, total porosity, pH, available phosphorus (P), Total hydrocarbon content (THC), organic carbon, organic matter, exchangeable cation (Mg, K, Na, Ca), effective cation exchange capacity (ECEC), total exchangeable acidity (TEA), and base saturation were monitored for a period of 21 days. 10 kg of sandy loam soils were mixed with 100, 300, 500, and 700ml of crude oil while no crude oil serves as the control using plastic reactors. The reactor with 700ml of crude oil recorded the highest THC of 1734.33 mg/kg, followed by 500ml with a THC of 1601mg/kg while the control with no contamination recorded the least THC of 534.33mg/kg. However, the values of all concentrations did not meet 5000 mg/kg of Department of Petroleum Resources (2018) intervention value but exceeded the target value of 50 mg/kg. Other parameters followed same trend except porosity which decreased with increase in crude oil volume. There were significant differences at P< 0.05 except for pH, available P, and base saturation. Therefore, this study calls for the utilization of its findings for adoption of remediation on crude oil contaminated soils.

Rapid and Simple Method for Measuring Petroleum Asphaltenes by the Centrifugation Technique.

Asphaltenes are heavy constituents of crude oil which affect the flow and viscosity of crude oil. They also stabilize water-in-oil emulsions which makes the separation process of water from oil during the primary treatment processes for crude oils more difficult and costly. Measuring asphaltenes has great importance, especially for crude oil production companies. Gravimetric and spectroscopic measurement methods are the basic techniques used by international references such as ASTM and IP. A new methodology has been introduced as a modification of ASTM D6560 gravimetric methodology by using the centrifugation technique in the separation of asphaltenes for different oil samples with the API gravity change from 17.4 (oil S1) to 39.8 (oil S5). The new methodology has the advantages of consuming little time, and multiple sample processing and can be done in the field and also in the lab. Moreover, it has good repeatability, reproducibility, and working range values compared to the reference gravimetric ASTM and IP methods. The repeatability of the new method was found to be 8.0% at its maximum value (S1, has a low asphaltene content), while the minimum value was found to be 3.75% (S10, has the highest asphaltene content). It was found that the maximum reproducibility value was 17.0% for the S1 sample and the minimum was 0.0% for S9 and S10 samples.

Factors Influencing Capital Structure: An Empirical Evaluation of Major Oil and Gas Producing Companies Operating in Ghana

A company's choice of capital structure determines how successfully it will operate. This choice heavily depends on the understanding and optimisation of the capital structure factors necessary to increase industry-specific profitability and, consequently, market value. Therefore, the goal of this study is to analyse the factors that determine the capital structure of six significant oil producing companies operating in Ghana, namely: Hess Corporation, Kosmos Energy, Tullow Oil and Ghana National Petroleum Company from 2010 to 2018. In the analysis of panel data for this study, random effect estimation is used. Size, liquidity, tangibility, crude oil price, and profitability are used in conjunction with pertinent literature to describe the factors that determine capital structure, which is proxied by the debt-to-capitalisation ratio (leverage). The findings demonstrated that profitability, firm size, crude oil price, and liquidity are major capital structure factors that have a markedly adverse connection with leverage. The main finding of this study implies that, in accordance with the pecking order theory, consideration of debt may ultimately be the last resort, whereas the management of these major oil and gas companies in Ghana must exercise discretion when considering funding based on debt and rely more on generated profits (retained earnings) and shareholder equity. Appropriate crude oil price hedging instruments are recommended to minimise the impact of commodity price volatility on decisions on capital structure strategies.

Assessment and Forecasting of Additional Costs of Oil-Production Companies to Reduce Risks from Permafrost Degradation

Assessment and Forecasting of Additional Costs of Oil-Production Companies to Reduce Risks from Permafrost Degradation

Utopias of Oil

At a time of a “private equity oil rush,” this essay explores how oil industry entrepreneurs with ambitions of setting up their own oil-production companies are encouraged to “dream big”—yet are ultimately disciplined and let down—by private equity finance in the state of Colorado in the United States. Motivated by a desire to “do oil differently,” these start-ups articulate utopian visions that draw on inequalities in extractive economies to promote an ethos of care and inclusion. I argue that while economic imaginations are commonly seen to offer alternatives to and critiques of capitalism, it is important also to attend to articulations of capitalist utopia. As private equity has come to form a secreted infrastructure that underlies much of the world’s financial system and encourages entrepreneurial optimism and euphoria, I explore how the contemporary life of capitalism stimulates attitudes to wealth creation that remain markedly conventional and unadventurous.

Dominating Conflict Management Strategy and Effectiveness of Multinational Oil and Gas Companies in Nigeria

The purpose of this study was to examine the relationship between dominating conflict management strategy and effectiveness of multinational oil and gas companies in Nigeria. The study adopted the cross-sectional research survey design. Primary data was generated through structured questionnaire. The population of the study was the five (5) multinational oil and gas companies registered with the Department of Petroleum Resources. Since the population of five (5) multinational Oil and Gas producing companies in Nigeria was relatively small, the entire population was studied as a census and in line with the unit of analysis which is at the macro level, the questionnaire was distributed to the elements from the population was used as the participants and in line with the unit of analysis which is at the macro level, the questionnaire was distributed to ten (10) managers of the five (5) multinational oil and gas producing companies in Nigeria, bringing the total number to fifty (50) respondents. The category of managers included in the study were Directors, General Managers, Deputy General Managers, Divisional Managers and Deputy Divisional Managers. The reliability of the instrument was achieved by the use of the Cronbach Alpha Coefficient with all the items scoring above 0.70. The hypotheses were tested using the Spearman’s Rank Order Correlation Coefficient. The tests were carried out at a 0.05 significance level. Findings from the data analysis revealed that, there is a significant negative relationship between negotiating conflict management strategies and effectiveness of multinational oil and gas companies in Nigeria. Therefore, the study concluded that, the adoption of dominating conflict management strategy was negatively related to effectiveness in multinational oil and gas companies in Nigeria. Thus, the study recommends that multinational oil and gas companies should avoid using dominating strategy unless it is the only strategy that can fit the situation. This is because the findings revealed an inverse correlation between multinational oil and gas companies’ effectiveness and dominating strategy. Keyword: Conflict, Conflict Management Strategies, Effectiveness, Dominating, Growth Rate, Innovation Market Share

Stakeholders Management Indicators: The Business Sustainability Inference

The study investigated the relationship between stakeholder relationship management and business sustainability indigenous oil and gas producing companies in Rivers State. The study population comprised of the ten (10) indigenous oil and gas producing companies operating in Rivers State. The research selected variated number of managers from each of the firms under study making it a total sample of sixty two (66) respondents. Data were generated from the respondents by the use of a close-ended structured questionnaire. Pearson’s product moment correlation, partial correlation and multiple regression were used to test the hypotheses with the aid of statistical packages for social science (SPSS) version 23.0. The p-values were calculated to determine the significance of the hypothesized relationship. Analytical outcomes revealed statistically positive and significant relationships between the dimensions of our predictor variable-stakeholder relationship management and the measures of the criterion variable-business sustainability. Based on the findings, the study concluded that stakeholder relationship management has a positive significant relationship with business sustainability of indigenous oil and gas producing companies in Rivers State. The study further recommended that Managers of indigenous oil and gas producing companies should capitalize on the pivot role of stakeholders’ interest in their operations to ensure their business sustainability; Managers of indigenous oil and gas producing companies should seek to build strong relationships with their host communities in line with their company policies and practices aimed at achieving business sustainability; Managers of indigenous oil and gas producing companies should apply objectivity in their employee relationship processes as this has the potency to either ruin or enhance their business sustainability

Hybrid application of decision trees, fuzzy logic and production rules for supporting investment decision making (on the example of an oil and gas producing company)

Hybrid application of decision trees, fuzzy logic and production rules for supporting investment decision making (on the example of an oil and gas producing company)

The Impact of Organisational Climate on Employee Engagement and Performances in a Multinational Oil and Gas Exploration and Production Company in Thailand

The Impact of Organisational Climate on Employee Engagement and Performances in a Multinational Oil and Gas Exploration and Production Company in Thailand

Improving Management Systems for Oil and Gas Producing Company using Overall Equipment Effectiveness

Consideration of difficulties inherent in maintenance management system in Nigerian oil and gas industries, and to eliminate the tedium associated in the system and improve equipment performance. In this work an attempt was made to assess the equipment maintenance practice in Kwale gas recycling plant of Nigeria Agip Oil Company Limited. Overall equipment effectiveness (OEE) indicator was used to determine the performance of various types of pumps and Turbine power generators installed in the plant, Maintenance records of the pumps and gas Turbine generators provided data for the computation and analysis. The availability, performance and quality rate of the pumps and gas Turbine generators were used to assess the overall effectiveness of the equipment used in the system. Detailed analysis of the failure rate and downtime revealed that a Plan Do Check Act (PDCA) system which is a proactive (predictive) maintenance technique was not adopted in the plant. The highest OEE value of 8.9% obtained confirmed that the current maintenance strategy and policy of the company is very much below standard and unacceptable. Hence this work affirms that the use of PDCA will avert unexpected system failure through early detection of faults, improve safety operation, reliability and durability of equipment. Thereby far less (i) human effort is wasted and (ii) energy expended, both of which led to increase in availability and profitability.

Determination of the dimensions of the differential mining rent in the oil industry of Azerbaijan to optimize the tax burden

In modern conditions, the definition of the amount of differential mountain rent on the macro level (the oilproducing company, the industry) should allow optimizing the tax system in oil production by determining the maximum limits of seizure. Оn the basis of a methodology based on the submissions of political economy, on a differential mining at the level of production facility as a difference between the closing costs, calculated on the production volume and its actual costs, a methodology was proposed by the method of differential mountain rent on the macro level as The amounts of the dimensions of the specified rental income on individual production facilities (well, deposit). On the basis of the proposed methodology, the work was calculated by differential mining rates on oil production of Azerbaijan in 2020 according to state statistics. The calculation and subsequent seizure of the amount of differential mountain rent in the state's income will allow further taxation of oil production can be carried out at unites rates or differentiated by the natural and transport component (Rent of location), as a tax on mineral mining (NPPI). Keywords: differential mountain rent; limit costs; actual costs; production facility; production volume; rent on macro levels.

An Empirical Analysis of Financial Performance of Selected Oil Exploration and Production Companies in India

After the United States, China, and Japan, India was the world's fourth biggest consumer of oil and petroleum products. The nation is significantly reliant on crude oil imports, the majority of which come from the Middle East. The Indian oil and gas business is one of the country's six main sectors, with important forward links to the rest of the economy. More than two-thirds of the country's overall primary energy demands are met by the oil and gas industry. The industry has played a key role in placing India on the global map. India is now the world's sixth biggest crude oil user and ninth largest crude oil importer. In addition, the country's portion of the worldwide refining market is growing. India's refining industry is now the world's sixth biggest. With plans for Reliance Petroleum Limited to commission another refinery with a capacity of 29 MTPA next 16 to its 33 MTPA refinery in Jamnagar, Gujarat, this position is projected to be enhanced. As a consequence, the Reliance refinery would be the biggest single-site refinery in the world. Based on secondary data gathered from CMIE, the current research examines the ratios influencing the profitability of selected oil exploration and production businesses in India during a 10-year period.

Spectral Unmixing Based Approach for Measuring Gas Flaring from VIIRS NTL Remote Sensing Data: Case of the Flare FIT-M8-101A-1U, Algeria

During the oil extraction procedure, natural gases escape from wells, and the process of recuperating such gases requires important investments from oil and gas companies. That is why, most often, they favor burning them with flares. This practice, which is frequently employed by oil-producing companies, is a major cause of greenhouse gas emissions. Under growing demands from the World Bank and environmental defenders, many producer countries are devoted to decreasing gas flaring. For this reason, several researchers in the oil and gas industry, academia, and governments are working to propose new methods for estimating flared gas volumes, and among the most used techniques are those that exploit remote sensing data, particularly Visible Infrared Imaging Radiometer Suite (VIIRS) Nighttime Light (NTL) ones. Indeed, it is possible to extract, from such data, some physical parameters of flames produced by gas flares. In this investigation, a linear spectral unmixing-based approach, which addresses the spectral variability phenomenon, was designed to estimate accurate physical parameters from VIIRS NTL data. Then, these parameters are used to derive flared gas volumes through intercepting zero polynomial regression models that exploit in situ measurements. Experiments based on synthetic data were first conducted to validate the proposed linear spectral unmixing-based approach. Second, experiments based on real VIIRS NTL data covering the flare, named FIT-M8-101A-1U and located in the Berkine basin (Hassi Messaoud) in Algeria, were carried out. Then, the obtained flared gas volumes were compared with in situ measurements.

Company Values of Malaysian Listed Companies' Sustainability for Palm Oil Industry: Financial Panel Data Model Approach

Objective - "Sustainability" meanings are many different things, e.g. food security, food safety, and economic growth short-tern survival of the production which included social, environmental, economic, based on the institutional objectives. This study aimed to conduct the sustainability of the palm oil industry in Malaysia using the financial panel data model approach. Methodology/Technique - The sampling data were obtained from 2014 to 2018 for 30 listed companies with a total of 150 observations. The research findings are helpful for palm oil production companies and also the major export products in Malaysia. Findings - In recent times, there have been many accusations about the palm oil industry in Malaysia due to the environmentally unfriendly product mentioned by the European Parliament and thus, they decided to ban palm oil biofuel by 2020. This would have a negative impact on the palm oil production companies and it is reflected in the company's share price (company value) of the companies. The paper highlights the level of environmental accounting (EA), environmental performance (EP), and information disclosure (ID), how to affect the company value (CV) for the sustainability of palm oil production companies. Novelty - The novelty of this paper is reflected that as one of the national priority areas (NPAs) of the county and create decent work and economic growth (goal 8), increase industry, innovation, and infrastructure (goal 9), and influence responsible consumption and production (goal 12) for sustainable development goals in Malaysia, respectively. Type of Paper - Empirical. Keywords: Company value; Sustainability; Palm oil production; Forecasting; Panel data model; Listed companies in Malaysia JEL Classification: C330, D2, G, Q1.

STUDY ON THE ENVIRONMENTAL ASPECTS OF PIT CLOSURE GUIDELINES FOR OIL AND GAS PRODUCTION ACTIVITIES

Exploration, development, and production activities associated with oil and gas production projects can have a variety of impacts on the environment. A variety of wastes are produced by such activities. Apart from the wastewater that is in the form of produced water, many kinds of solid wastes are produced during exploration and production of oil and gas. These solid wastes, among others, are drilling mud and cuttings, and tank bottom oily sludge. These solid wastes are dumped temporarily in a certain place called a pit before they can be treated further. In order to minimize and possibly eliminate the environmental impacts of those solid wastes, pit construction has to be developed in such a way that release of pit contents to the environment could be prevented. In addition, pollutant loading of ground water from waste leaks, releases of hydrocarbons and hydrogen sulphide to the atmosphere are some of the factors that have also to be considered. As dumping such solid wastes in a pit is a temporary storage, pit closure management has also to be developed. Explicitly, governmental regulation concerning with environmental aspects of pit closure has not been established yet. Nevertheless, environmental management approach of pit construction and closure could be established by referring to the available regulation, namely Governmental Regulation PP. 18/1999 juncto PP. 85/1999 - hazardous waste regulation, and the related Ministerial Decree, such as Bapedal Decree No. Kep.-04/BAPEDAL/09/19995 decsribing methods of landfilling or land disposal for hazardous wastes. This approach is based on the reason that such solid wastes are also categorized as hazardous wastes. In regard to pit construction, study on pit location should include the hydrogeology pattern of the site. Furthermore, pit wall materials are parameters that also have to be considered in minimizing impacts to the surrounding. Upon closing the pit, a pit closure plans that call for the dewatering of mud and reserve pit contents before burial have to be developed to reduce the chance of the downward transport of contaminants to shallow aquifers. The grading of soils covering the pits may reduce the chances of infiltration of rainwater, which may migrate to ground water. Other consideration, for example revegetation, has also to be included. All of the above factors should be considered in pit closure and assessment guideline. In addition to the available national references, other worldwide references such as those of US-EPA guidelines deserve to be considered in studying pit management. The author has conducted a short study concerning pit closure management that has been implemented in oil and gas producing companies. Goals of the study are to review the manual guideline or standard operating procedure (SOP) of pit closure applied to the fields. The followings are report concerning with the implementation of the study.